Dodging the cap has increased the price Russia gets for its oil on global markets, sanctions experts say. The discount for Russian oil compared to international benchmark Brent crude has shrunk from as much as $35 per barrel to less than $10 per barrel. Russia has seen oil income hold up steadily and even rise.

The name is brilliant: ‘vintage tonnage’. It evokes 17th-century pirate vessels flying the skull-and-crossbones, 18th-century ships-of-the-line bristling with cannons, or even 19th-century clipper ships in full sail bringing tea to England and America.

President Joe Biden's administration says it's expanding sanctions against Russia's critically important energy sector over its war in Ukraine.

President Joe Biden's administration announced Friday that it's expanding sanctions against Russia's critically important energy sector, unveiling a new effort to inflict pain on Moscow for its grinding war in Ukraine as President-elect Donald Trump gets set to return to office vowing to quickly end the conflict.

The Transnistria region bordering Ukraine has been unable to provide heating and hot water to its residents since Wednesday, when Moscow cut off gas supplies to Moldova over a financial dispute. The separatist Moldovan region of Transnistria ordered a ...

It evokes 17th-century pirate vessels flying the skull-and-crossbones, 18th century ships-of-the-line bristling with cannons, or even 19th-century clipper ships in full sail bringing tea to England and America.

Russian President Vladimir Putin and Iranian President Masoud Pezeshkian signed a comprehensive strategic partnership agreement in Moscow on Friday (January 17), involving closer defense cooperation that is likely to worry the West.

The “vintage tonnage” is the “shadow fleet” of second-hand oil tankers that were spared from the ship-breaking yards in 2022 because Russia lost its export market in Europe when it invaded Ukraine. There were plenty of potential customers for cut-price Russian oil in India and China, but no pipelines to get it there. It had to go by sea.

The name is brilliant: "vintage tonnage". It evokes 17th-century pirate vessels flying the skull-and-crossbones, 18th-century ships-of-the-line bristling with cannons, or even 19th-century clipper ships in full sail bringing tea to England and America.

Chinese and Indian refiners are scouring the globe for supplies of crude as fresh U.S. sanctions on Russian producers and tankers curb shipments to Moscow's top customers, traders said. Ciara Lee reports. Could AI-assisted program help badminton players with training?

Pete Hegseth, President-elect Donald Trump’s nominee for defense secretary, arrived to chants of “USA! USA! USA!” inside a Senate hearing room Tuesday morning.

The Cook Islands-registered oil tanker Eagle S is anchored near the Kilpilahti port in Porvoo on the Gulf of Finland, Dec. 30, 2024.