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RUSSIA: EU Pushes for More Restrictions on Russian Oil Tankers

RUSSIA
CEEMEAEM BulletRussiaBulletEmerging Market News
  • The EU is proposing to sanction several Chinese firms that it claims helped Russian companies develop attack drones that were deployed against Ukraine, Bloomberg reported late yesterday. The European Commission is also looking into imposing restrictions on additional Russian oil tankers to curb Moscow’s ability to circumvent existing restrictive measures, according to documents seen by Bloomberg.
  • Russia’s seaborne crude exports saw their biggest drop since July, Bloomberg report, with shipments sliding to a two-month low as flows to key buyer India fell sharply. Four-week average volumes declined by about 150,000 barrels a day in the period to November 24, slipping for the fourth time in five weeks.
  • The Moscow Exchange Index hit a three-month low on Monday before closing down almost 2%, Kommersant report. The index has lost over 9% in two weeks, which the newspaper’s analysts attribute to geopolitics, the weakening RUB and expectations of another key rate hike. They expect high volatility and new local lows in the short term.
  • There are no data releases scheduled for today. Looking ahead, retail sales, unemployment rate, real wage and industrial production figures are all set to cross the wires tomorrow.
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  • The EU is proposing to sanction several Chinese firms that it claims helped Russian companies develop attack drones that were deployed against Ukraine, Bloomberg reported late yesterday. The European Commission is also looking into imposing restrictions on additional Russian oil tankers to curb Moscow’s ability to circumvent existing restrictive measures, according to documents seen by Bloomberg.
  • Russia’s seaborne crude exports saw their biggest drop since July, Bloomberg report, with shipments sliding to a two-month low as flows to key buyer India fell sharply. Four-week average volumes declined by about 150,000 barrels a day in the period to November 24, slipping for the fourth time in five weeks.
  • The Moscow Exchange Index hit a three-month low on Monday before closing down almost 2%, Kommersant report. The index has lost over 9% in two weeks, which the newspaper’s analysts attribute to geopolitics, the weakening RUB and expectations of another key rate hike. They expect high volatility and new local lows in the short term.
  • There are no data releases scheduled for today. Looking ahead, retail sales, unemployment rate, real wage and industrial production figures are all set to cross the wires tomorrow.