The G7, the European Union and Australia imposed the $60 per barrel cap last December on sea-borne exports of Russian crude in retaliation for Russia’s war on Ukraine.

Two more countries - Zimbabwe and Ethiopia - have signed agreements with Russia to cooperate on the peaceful use of nuclear technology on the sidelines of the Russia-Africa Economic and Humanitarian Forum, which has been taking place in St Petersburg.

Leading Russian companies, including LUKOIL and Yandex, operate effectively in the republic. Rosatom plans to launch a number of large projects. There is no doubt that trade and economic cooperation has significant growth potential.

Mitsui joined the Arctic LNG 2 project in 2019 via a subsidiary called Japan Arctic LNG, which secured substantial financial support from state-owned Japan Organization for Metals and Energy Security (JOGMEC) as part of wider Japanese efforts to ensure stable LNG supply and diversify import sources.

Benchmark futures settled 3.9% higher after another session of sharp price moves. Searing temperatures in parts of the region and global competition for liquefied natural gas continue to provide upward pressure — even as flows from Norway, Europe’s top supplier, return to levels last seen in April.

According to price reporting agency Argus Media, Urals crude topped $60 a barrel on Wednesday, climbing above the cap that the Group of Seven set last year in an attempt to restrict revenue to Moscow’s war machine.

The central bank still expects a current account surplus of $47 billion this year and $38 billion in 2024. On Tuesday, it said in a statement that Russia’s worsening trade balance was caused by a decrease in export volumes as well as the decline in prices mainly for energy exports.

The Paks II project was launched in 2014 by an inter-governmental agreement between Hungary and Russia for two VVER-1200 reactors (units 5&6) to be supplied by Rosatom.

The Akkuyu plant, in the southern Mersin province, is Turkey's first. Rosatom is building four VVER-1200 reactors, under a so-called BOO (build-own-operate) model.

UAE energy minister Suhail al-Mazrouei said the voluntary OPEC+ cuts would bear fruit soon and blamed the current market malaise on the disconnect between physical and paper traders.

The ruble has grown more vulnerable after a deterioration in Russia’s external finances. Unlike last year, when the government earned a record windfall after a rally in commodity prices, export proceeds have fallen sharply in 2023.

In 2021, Russia pumped about 150 billion cubic meters of pipeline gas to Europe — more than enough to satisfy the combined annual consumption of Germany, France and Austria. Europe represented two-thirds of the country’s gas exports including flows of liquified natural gas.

All the plant's fuel is being provided by Rosatom under a contract finalised in August 2019, and the final protocol required for delivery to go ahead was signed last month. All used fuel from the plant will be repatriated to Russia.

Rosatom is already in the process of constructing four floating power units for the Baimskaya ore zone which highlights floating nuclear power plants' ability to be transported to hard-to-reach areas.

Adjust the level of overall crude oil production for OPEC and non-OPEC Participating Countries in the DoC to 40.46 mb/d, starting 1 January 2024 until 31 December 2024, which is to be distributed as per the attached table.