SWISS & RUSSIAN OIL
Swiss commodity trader Trafigura has become a major exporter of Russian oil as sanctions have squeezed Kremlin-backed companies' access to credit and led to a shake-up of how Moscow sells its crude.
Through a series of deals with Rosneft, the Russian state-controlled oil company, Trafigura exported almost 9m barrels of crude in April, worth more than $500m, according to port data compiled by Nefte Compass, an industry publication. Exports have continued at a broadly similar level in May.
This is a marked contrast to last year when Trafigura's deals with Rosneft rarely amounted to much more than 1m barrels a…
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U.S. FRB - Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent.