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On December 21, Russian Presidential Aide Ushakov told the media that the proposal to hold trilateral talks between Russia, the United States, and Ukraine has not yet been put on the agenda or discussed. He also pointed out that the modifications proposed by Ukraine and Europe to the Russia-Ukraine "peace plan" are not conducive to advancing the agreement. Ushakov confirmed that Russias Special Representative for Foreign Investment and Economic Cooperation, Dmitriev, is currently in Miami holding talks with the US. He revealed that Dmitriev will report on the results of the talks with the US after returning to Moscow. On the same day, Russian Presidential Press Secretary Peskov told the media that President Putin has no plans to speak with US President Trump before the end of the year, but arranging a call would be easy.On December 21st, according to Japanese sources, during a debate program, Itsunori Onodera, chairman of the Liberal Democratic Partys (LDP) Security Research Council, proposed that it is necessary to discuss the definition of the "Three Non-Nuclear Principles." He discussed Japans current reliance on the US "nuclear umbrella," stating, "This is one of the issues that should be discussed." Onodera said the LDP plans to submit a related motion to the Cabinet in February next year to promote discussion in the Diet. The "Three Non-Nuclear Principles" refer to not possessing, manufacturing, or introducing nuclear weapons. Recently, several political parties, politicians, and numerous civic organizations in Japan have called for adherence to the "Three Non-Nuclear Principles" to avoid a repeat of the tragedy of war.Kremlin: The idea of a trilateral meeting between Russia, the United States, and Ukraine has not yet been discussed.On December 21, the Communist Party of Cuba issued a statement on its official website on the 20th, condemning the US governments escalation of aggression against Venezuela in the strongest terms and accusing the US of its recent actions in Venezuela of being a deliberately planned and dangerous act.SpaceX: Public safety is always our top priority during flight tests. We will continue to ensure that public safety is maximized.

Oil prices rise as Russia faces sanctions

Haiden Holmes

Oct 24, 2022 14:11

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On Monday's early Asian trading session, oil prices surged due to expectations of tighter global supplies ahead of European Union sanctions on Russian oil.


Brent crude prices increased 54 cents, or 0.6%, to $94.04 per barrel by 01:25 GMT, while U.S. West Texas Intermediate crude futures increased 51 cents, or 0.6%, to $85.56 per barrel.


Brent increased by 2% last week as a result of a weaker dollar and expectations that China's COVID-19 restrictions may be lifted, allowing for a revival in demand from the world's second-largest consumer.


On December 5, when the EU ban on Russian imports goes into effect, disruptions in the world oil supply are anticipated. The coalition intends to halt imports of Russian oil products in February.


Even as it prepares to raise rates in early November, there is a growing feeling within the Federal Reserve to either slow down or lower the pace of future rate increases.


A delay in Fed rate hikes could diminish the U.S. dollar's strength, which has been a drag on commodities prices. A declining dollar reduces the price of dollar-denominated commodities, such as oil, for holders of foreign money.


On Sunday, China's Xi Jinping won a historic third term as president, confirming his status as the nation's most powerful leader since Mao Zedong.


Analysts do not anticipate a significant movement in policy direction, particularly Xi's goal of zero COVID.


Brent climbed last week despite the fact that the U.S. President Joe Biden announced the sale of the last 15 million barrels of oil from the U.S. Strategic Petroleum Reserves. The sale is part of an unprecedented 180 million-barrel release that began in May. Biden stated he will restore supply when the price of U.S. crude approaches $70 per barrel.


ANZ analysts wrote in a note that the recommendations for replenishing the reserve were of greater interest to the market.


The statement by Vice President Biden that the United States will not purchase crude oil until the price hits USD$70 per barrel provides a significant support level.


Baker Hughes Co., a provider of energy services, stated on Friday that U.S. energy companies added oil and natural gas rigs for the second consecutive week, as relatively high oil prices encourage companies to drill more.

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