Free Trial

Japan Investigating Report on Russia Seizing Sakhalin-1 Plant

RUSSIA
  • The government is investigating reports on a Russian decree to set up a Russian company to operate the Sakhalin-1 oil project, Japanese Trade Minister Yasutoshi Nishimura said to press in Tokyo on Friday. (BBG)
  • Some Biden administration officials are growing concerned that their plan to cap the price of oil purchased from Russia may backfire, according to people familiar with the matter. Officials are worried that the OPEC+ production cut has increased volatility in markets, and a US-driven move to cap Russia’s oil prices could result in a spike. (BBG)
  • Citing a report by the Bank of Russia, Kommersant report that “friendly” foreigners are increasing purchases of dollars in Russia. Furthermore, net foreign exchange sales have been surprisingly stable since April 2022 at about $20 billion a month, with the share of the yuan in foreign exchange trading exceeding 30%.
  • President Putin may hold a news briefing after taking part in meeting of leaders of CIS states at the Central Asia-Russia summit in Astana, according to Tass.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.