June 27 2022 — 13:58
Russia exporting lighter and sweeter Urals oil as taps Asia demand -sources
Russia has been improving the quality of its flagship Urals crude oil export, making the heavily-discounted grade even more attractive to buyers in Asia who have been snapping it up, data obtained by two industry sources and seen by Reuters showed.
Russian oil exports have been strong despite Western sanctions as China and India ramped up purchases and U.S. officials have said Moscow was now earning more money than before the conflict in Ukraine because of higher oil and gas prices.
It has been changing the Urals blend to make the oil lighter and sweeter during the last three months despite a ban on imports of technology for the oil and gas industry from the West, the daily quality data viewed by Reuters on Monday showed.
Russian oil pipeline monopoly Transneft, which transports most of the crude via its system and is responsible for quality control, did not respond to a Reuters request for comment.
China and India have become major buyers of Russian oil in the last two months as Moscow seeks other markets for its cargoes as flows to the European Union have slowed ahead of a ban expected to take effect at the end of the year.
Two traders who spoke to Reuters on condition of anonymity because they are not allowed to speak to the press, cited lower domestic demand for low-sulphur oil as one of the reasons that has seen an improvement in the quality of export Urals.
Several plants in Russia's south, which are usually large buyers of low-sulphur oil, have reduced operations in recent months because EU customers are no longer buying Russian oil products or due to logistical issues related to proximity to the Ukrainian border.
Reuters
UKRAINE WRAP | At least two killed in missile strike on Ukrainian shopping mall - senior official
June 27 2022 — 21:40
France says Russia must answer for missile strike on Ukrainian mall
Russia must answer for a deadly missile strike on a crowded Ukrainian shopping centre on Monday, France's Foreign Ministry said, condemning the attack.
At least 11 people were killed and 50 wounded when two Russian missiles slammed into the shopping centre in the central Ukrainian city of Kremenchuk, the regional governor said.
"Russia must answer for these acts. France supports the fight against impunity in Ukraine," the Foreign Ministry's spokeswoman said in a statement.
-Reuters
June 27 2022 — 18:23
Ties to Russia cannot return to what they were pre-Ukraine war - Scholz
German Chancellor Olaf Scholz said at a summit of the Group of Seven rich democracies on Monday there would be no return to the times before Russia's attack on Ukraine, which had ushered in long-term changes in international relations.
"When the situation changes, we have to change," Scholz said in a televised statement at the end of the second day of the G7 summit taking place in a castle resort in the Bavarian Alps.
Scholz, who is hosting this year's gathering, said that the G7 leaders had held constructive discussions with the guest nations on Monday - India, Indonesia, Senegal, South Africa and Argentina - which he labeled "democracies of the future".
"It is good, important and necessary that we talk to each other. Listening to each other creates mutual understanding and makes our work easier," he said.
-Reuters
June 27 2022 — 17:00
At least two killed in missile strike on Ukrainian shopping mall - senior official
At least two people were killed and 20 wounded in a Russian missile strike on a shopping mall in central Ukraine on Monday, a senior official said.
Kyrylo Tymoshenko, deputy head of President Volodymyr Zelenskiy's office, said nine of the wounded were in a serious condition following the missile strike on the city of Kremenchuk.
-Reuters
June 27 2022 — 13:58
Russia exporting lighter and sweeter Urals oil as taps Asia demand -sources
Russia has been improving the quality of its flagship Urals crude oil export, making the heavily-discounted grade even more attractive to buyers in Asia who have been snapping it up, data obtained by two industry sources and seen by Reuters showed.
Russian oil exports have been strong despite Western sanctions as China and India ramped up purchases and U.S. officials have said Moscow was now earning more money than before the conflict in Ukraine because of higher oil and gas prices.
It has been changing the Urals blend to make the oil lighter and sweeter during the last three months despite a ban on imports of technology for the oil and gas industry from the West, the daily quality data viewed by Reuters on Monday showed.
Russian oil pipeline monopoly Transneft, which transports most of the crude via its system and is responsible for quality control, did not respond to a Reuters request for comment.
China and India have become major buyers of Russian oil in the last two months as Moscow seeks other markets for its cargoes as flows to the European Union have slowed ahead of a ban expected to take effect at the end of the year.
Two traders who spoke to Reuters on condition of anonymity because they are not allowed to speak to the press, cited lower domestic demand for low-sulphur oil as one of the reasons that has seen an improvement in the quality of export Urals.
Several plants in Russia's south, which are usually large buyers of low-sulphur oil, have reduced operations in recent months because EU customers are no longer buying Russian oil products or due to logistical issues related to proximity to the Ukrainian border.
Reuters
June 27 2022 — 13:00
If Ukraine loses, all democracies lose, Italian PM tells G7
The G7 countries are united with Ukraine because a defeat in its war against Russia would be a defeat for all democracies, Italian Prime Minister Mario Draghi told leaders on Monday during a session with Ukrainian President Volodymyr Zelensky.
"We are united with Ukraine, because if Ukraine loses, all democracies lose. If Ukraine loses, it will be harder to argue that democracy is an effective model of government," Draghi was quoted as saying in comments sent by his office.
Reuters
June 27 2022 — 11:31
Zelensky asked G7 for air defence systems, tougher Russia sanctions — official
Ukrainian President Volodymyr Zelensky on Monday asked for anti-aircraft defence systems, more sanctions on Russia and security guarantees as he addressed leaders of the Group of Seven summit, a European official said.
Addressing the summit in the Bavarian Alps via video link, Zelensky also asked for help to export grain from Ukraine and for reconstruction aid, the European official said, speaking on condition of anonymity.
Reuters
June 27 2022 — 11:13
Heavy rainfall causes flooding in Russia-annexed Crimea
Dozens of houses were flooded in the Russian-annexed peninsula of Crimea on Monday and people were evacuated from towns after heavy rainfall caused a river to burst its banks, local authorities said.
The Biyuk-Karasu river overflowed for the first time in history on Monday, the Tass news agency reported, prompting officials to introduce a state of emergency in the Belogorsky district in the south of the peninsula.
The equivalent of a month's rainfall fell overnight in Crimea and river levels rose by up to two metres. The region's emergency ministry warned of the possibility of mudslides as rain continued on Monday.
Reuters
June 27 2022 — 09:00
Russia launches missiles from Belarus Airspace
Russia started the fifth month of its invasion with what Ukraine’s army called a “huge bombardment,” including in far western areas some 800 miles from the Donbas front.
At least a dozen missiles were launched from Belarusian airspace for the first time, in what Ukraine said was a move to pull the regime in Minsk fully into the war. Belarusian President Alexander Lukashenko met with Russian counterpart Vladimir Putin in St. Petersburg on Saturday.
President Joe Biden departed Washington for the Group of Seven summit that starts in Bavaria on Sunday. Germany is expected to propose reversing a G-7 commitment to end certain fossil fuel financing as a response to the energy crisis triggered by the Ukraine war.
Reuters
June 27 2022 — 07:58
G-7 Commits to Supporting Ukraine’s Defence Indefinitely
Group of Seven leaders will commit to providing indefinite support to Ukraine for its defence against Russia’s invasion, according to the text of a draft statement from their summit in Bavaria.
“We will continue to provide financial, humanitarian, military and diplomatic support and stand with Ukraine for as long as it takes,” according to the text of a draft statement on support for Ukraine.
“As we do so, we commit to demonstrate global responsibility and solidarity through working to address the international affects of Russia’s aggression, especially on the most vulnerable.”
The text, seen by Bloomberg, is a draft of a declaration, one of at least four that the G-7 leaders plan to publish alongside their traditional communique.
The G-7 leaders are also weighing the possibility of using the revenues of tariffs to support Ukraine, according to the document.
Bloomberg
June 27 2022 — 07:15
Russian forces turn sights on Lysychansk in battle for eastern Ukraine
Russian forces were fighting to achieve one of their strategic objectives in Ukraine on Monday as Moscow-backed separatists said they were pushing into Lysychansk, the last major city held by Ukrainian troops in eastern Luhansk province.
Lysychansk is the new focus of the war after its twin city Sievierodonetsk fell on Saturday, in a victory for Moscow’s campaign to seize the eastern provinces of Luhansk and Donetsk on behalf of pro-Russian separatists.
Tass news agency on Sunday quoted a separatist official as saying Moscow’s forces had entered Lysychansk from five directions and were isolating Ukrainian defenders. Reuters could not confirm the report.
June 27 2022 — 06:30
US likely to announce this week purchase of advanced missile defence system for Ukraine
The US is likely to announce this week the purchase of an advanced medium to long range surface-to-air missile defence system for Ukraine, a source familiar with the matter told Reuters on Sunday.
Washington is also expected to announce other security assistance for Ukraine, including additional artillery ammunition and counter-battery radars to address needs expressed by the Ukrainian military, the source added.
Reuters
June 27 2022 — 06:15
Taiwan holders of Russian bonds say haven't received payments —
sources
Some Taiwanese holders of Russian Eurobonds have not received interest due on May 27 after a grace period expired on Sunday evening, two sources said, potentially setting Moscow on track for its first major external sovereign default in over a century.
Russia was due to make $100 million in coupon payments on two Eurobonds on May 27 — $29 million on a euro-denominated 2036 bond and $71 million on a dollar-denominated 2026 bond.
Sweeping sanctions imposed by Western capitals on Russia in the wake of its invasion of Ukraine on Feb. 24 as well as counter measures by Moscow have all but severed the country from the global financial ecosystem. Russia calls its actions in Ukraine a “special operation”.
Despite the plethora of curbs, Russia had managed to make payments on seven bonds since its invasion of Ukraine before the latest interest payments.
Russian debt makes up less than half a percent of Taiwanese bond holdings.
Reuters
June 27 2022 — 06:00
Kyiv hit by Russian shelling
Russian missiles struck Ukraine’s capital at a time when calm was returning to Kyiv. The strikes come as G7 leaders gather for a summit in Germany