Iran Slashes Cost of Its Oil to Compete With Russia in China

(Bloomberg) — Iran is being forced to discount its already cheap crude even more as a top ally gains a bigger foothold in the key Chinese market. Most Read from…

Russia faces oil price cap in fresh blow to Kremlin

G7 Russia oil ban Putin energy sanctions Ukraine inflation – AP Photo/Martin Meissner, File The G7 is drawing up plans to punish Vladimir Putin with a cap on the price…

Russia Fails to Meet Bond Obligations, Triggering Swaps Payout

(Bloomberg) — Russia was judged to have breached the terms on a bond after missing a $1.9 million interest payment and triggering an insurance payout potentially worth billions of dollars.…

Germany Girds for Day of Reckoning in Gas Showdown With Russia

(Bloomberg) — If the worst-case scenario for Germany hits, BMW AG, Mercedes-Benz AG and Volkswagen AG would struggle to paint their cars and the air across the country would get…

Germany Says Russia Weaponizes Energy as Gas Feud Escalates

(Bloomberg) — Germany said Russia is using its energy exports as a “weapon” after Moscow reduced natural gas supplies in retaliation for Europe’s penalties over the war in Ukraine. Most…

Bumper first-quarter net profit, massive loss on Russia

BP has further boosted returns to shareholders after net profit jumped to its highest level in more than a decade. Chris J. Ratcliffe | Bloomberg | Getty Images BP on…

Russia to Cut Gas to Poland, Bulgaria Until Pay Demands Met

(Bloomberg) — Russia halted gas flows to Poland and Bulgaria in a major escalation, and said it will keep supplies switched off until the two countries agree to Moscow’s demands…

Beats expectations, reduces Russia exposure

UBS has beat expectations for the first quarter of 2022 and said it has further reduced its exposure to Russia. The Swiss bank on Tuesday reported net profit attributable to shareholders…

Nvidia Stock Is Downgraded. China and Russia Are Headwinds.

Text size Dreamstime Nvidia shares were falling on Monday after the stock was downgraded by a Baird analyst, who cited concerns over slowing consumer demand exacerbated by the Russian embargo.…

China’s Bet on Sending Its Exports Through Russia Hits Setback

Sanctions imposed on Russia are disrupting China’s ambitions to move more exports to Europe, a setback for the $4 trillion effort championed by Chinese leader Xi Jinping to cement his…