Russian oil sanctions are about to begin. And it can disrupt markets dramatically

European oil sanctions are set to kick in on December 5th. The idea is to reduce Russia’s oil revenues in light of its war in Ukraine. Andrei Rudakov | bloomberg | Getty Images Analysts have warned that the upcoming sanctions on Russian oil will be “really devastating” to energy markets if European countries fail to … Read more

The Spanish Prime Minister sent a message bomb similar to the device that hit the Ukrainian embassy official

MADRID (Reuters) – Spain has beefed up security at public and diplomatic buildings after a series of rigged letters, including one to Prime Minister Pedro Sanchez and another to the Ukrainian embassy in Madrid, in which an official was slightly injured. The Interior Ministry revealed Thursday that an “envelope containing pyrotechnic substance” addressed to Sanchez … Read more

Gas price caps could cause irreversible damage to energy markets

Earlier this week, the European Commission issued statement Declaring what it called a “safety price ceiling” for gas prices set at €275, or $283, per megawatt hour. As a long-awaited gas price cap that EU members have been discussing for weeks now, the cap target, according to the Commission, will be used as a “temporary … Read more

Seismic shifts in international data markets demand an update of broadband Internet policy

Through the parallel internet, platforms have driven seismic shifts in global data flows. GT The global policy movement to improve connectivity and bridge the digital divide has generated reports on international data markets and associated regulatory policies. The papers sometimes introduce confusing terms: usage, transitivity, gaze, and association. Each term has a specific meaning and … Read more

The Italian government approves the 2023 budget of 35 billion euros to boost the economy

The budget finds more than 21 billion euros to tame energy bills Additional energy company profits are taxed at 35%. Includes amnesty for tax arrears, lowering the retirement age Relaunching a bridge project linking Sicily with the mainland ROME (Reuters) – Italy’s new right-wing government approved its first budget on Tuesday, a package focused on … Read more

COP27: Negotiators reach tentative agreement on ‘loss and damage’ at UN climate summit

Sharm Alsheikh, Egypt CNN – Although significant progress was made on Saturday, international climate negotiations continue at the UN’s COP27 climate summit early Sunday morning. The closing plenary session of this year’s Conference of the Parties is scheduled to start at 3 am Egypt time, according to a Notice from the United Nations Framework Convention … Read more

Debate over the Ukraine war dominates the summit of the Group of 20 major economies

Draft Declaration: “Most” G20 Members Condemn Ukraine’s War Ukrainian Zelensky pushes his plan to end the conflict Indonesia calls for an end to political polarization US President Biden skips a dinner party in Bali NUSA DUA, Indonesia (Reuters) – A Western-led campaign to condemn Russia’s invasion of Ukraine dominated Tuesday’s G20 summit in Indonesia’s Bali … Read more

Biden and Xi clash over Taiwan in Bali but Cold War concerns are tepid

Biden and Xi meet for 3 hours before the G20 Both leaders stress the need to get relations back on track Indonesia seeks partnerships on the global economy in the G20 Ukraine’s President Zelensky addresses the G20 on Tuesday NUSA DUA, Indonesia, Nov. 14 (Reuters) – U.S. President Joe Biden and Chinese President Xi Jinping … Read more

Doubts about Russia’s exclusive oil ceiling raise insurer’s concerns about ships leaving at sea

LONDON/BRUSSELS (Reuters) – Two senior oil industry executives told Reuters that tankers laden with oil risked being left at sea if insurers did not come up with urgent clarification on an incomplete plan of the Group of Seven and the European Union to cap the price of Russian crude. The Group of Seven, which includes … Read more

Britain froze Russian assets worth 18 billion pounds

Russia bypasses Libya and Iran as prime target of UK sanctions The UK says sanctions are hurting Russia’s military Russia uses chips in kitchen utensils for cabinets The UK government has reported 236 sanctions violations LONDON (Reuters) – The British government said on Thursday it had frozen more than 18 billion pounds ($20.5 billion) in … Read more