INDIA INCREASES IMPORTATION OF CRUDE OIL FROM RUSSIA PAGE 46

 May 8 , 2022

 Russia ramps up sales of crude to India – Reuters

Russia’s state-run oil giant Rosneft has reportedly sold a large shipment of crude to India as the South Asian nation keeps boosting energy imports from the sanctions-hit country.

Indian Oil Corp (IOC), the country’s top refiner, purchased 700,000 tons of Russian Urals crude, two traders familiar with the matter told Reuters, adding that Rosneft had allocated seven cargoes loading from the Baltic ports of Primorsk and Ust-Luga between May 15 and 31 to India.

https://www.rt.com/business/555119-russia-india-oil-sales-increase/

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No EU fast-track for Ukraine – Austrian minister

Ukraine’s accession to the European Union will not happen “in the next five to ten years,” Austrian EU Affairs Minister Karoline Edtstadler has predicted. Austria’s foreign minister has expressed a similar view, despite European Commission President Ursula von der Leyen’s insistence that Ukraine will be swiftly ushered into the bloc.

MORE: https://www.rt.com/news/555121-austria-ukraine-eu-fast-track/

 European banks reveal cost of Russia exit

The need to write down assets as well as setting aside cash to shield against the expected economic ramifications of anti-Russia sanctions has resulted in billions of euro in losses for European banks.

The lenders have so far taken a hit of about $9.6 billion, led by Societe Generale and UniCredit. ING and Intesa Sanpaolo reported that Russian exposure had slashed their combined first-quarter net income by nearly $2 billion.

https://www.rt.com/business/555082-european-banks-billions-russia-ukraine/

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 Japan warns of Ukraine-like conflict

Japanese Prime Minister Fumio Kishida has warned that a Ukraine-style armed conflict could break out in East Asia. He said that peace and stability in the Taiwan Strait is critical for Tokyo and the international community.

“We must collaborate with our allies and like-minded countries, and never tolerate a unilateral attempt to change the status quo by the use of force in the Indo Pacific, especially in East Asia,” Kishida said during a meeting with his British counterpart Boris Johnson in London on Thursday.

“Ukraine may be East Asia tomorrow,” the Japanese PM added.

https://www.rt.com/news/555118-japan-ukraine-east-asia/

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 Dress rehearsal for V-Day parade takes place on Moscow's iconic Red Square

Hundreds of troops and military equipment paraded on Moscow's iconic Red Square on Saturday as part of the final rehearsal for the 77th Victory Day parade on May 9.

A column of 131 weapon systems moved on the Moscow streets, the Russian Defence Ministry said, including the Iskander-M ballistic missile system and the S-400 missile system.

 France eyes agricultural waste to replace Russian gas

In an effort to reduce its reliance on natural gas from sanctions-hit Russia, France wants to ramp up biomethane production from agricultural waste. It’s hoped the biogas can replace Russian fuel in less than 10 years.

French farmers have expressed support for Europe’s bid to wean itself off Russian gas, and are planning to launch new biofuel production facilities, the Associated Press reports, adding that small biofuel stations are already supplying hundreds or thousands of households.

However, the biogas solution is unlikely to provide a quick replacement for supplies from Russia, AP noted.

https://www.rt.com/business/555112-france-bio-methane-russia-gas/

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Mystery of the rising ruble explained

After losing nearly half of its value in March due to Western sanctions, the Russian currency has staged an extraordinary recovery, strengthening to levels not seen in over two years. RT talked to Sergey Kopylov, a junior partner at consulting company BSC and a lead researcher at Plekhanov Russian University of Economics, to find out what’s behind the ruble’s resilience.

READ: https://www.rt.com/business/555088-mystery-rising-ruble-revealed/

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