The US Senate approved a bill allowing President Trump to impose 100% tariffs on major purchasers of Russian oil and gas, such as China and India. Named after the late Senator Lindsey Graham, the legislation passed 86-11 and awaits House approval.
The Senate overwhelmingly approved a Russia sanctions bill named after the late Sen. Lindsey Graham. The legislation imposes heavy tariffs on major purchasers of Russian oil and targets Russian leadership, passing 86-11 before heading to the House.
Russian oil exports from western ports are set to increase 4% in August as Ukrainian refinery attacks limit domestic processing and Asian demand rises amid Middle East supply disruptions, traders say. Baltic and Black Sea ports may load near 2.7 million barrels per day.
India's oil imports from Russia hit a 2.8 million bpd record in July, comprising over half its total purchases. While Russian supplies remain dominant, India also increased imports from Saudi Arabia and Iraq, indicating a recovery from Middle Eastern suppliers.
India's crude oil imports from Russia reached a record 2.8 million barrels per day in July, constituting over half of its purchases. Concurrently, Indian refiners increased sourcing from West Asian suppliers as oil flows through the Strait of Hormuz normalized.
Russian and Ukrainian long-range attacks killed at least 14 people across both countries. Ukraine launched drones into multiple Russian regions, killing nine, while Russian strikes killed five in Ukraine, including in Zaporizhzhia and Kharkiv, as the conflict escalates.
The European Union has approved a legal mechanism under its 21st sanctions package, allowing national authorities to confiscate and sell Russian oil seized from blacklisted tankers owned by third countries, ensuring no funds benefit Russian entities.
The EU unveiled its largest sanctions package in four years against Russia, leading FIDE President Arkady Dvorkovich to suspend his activity. The measures target 218 individuals and entities, including banks, vessels, and military-industrial complex, while Ukraine faces ongoing attacks.
The EU Council expanded sanctions against the Russian oil industry, targeting three Russian refineries, a major Belarusian refinery, a company selling Belarusian petroleum products, and a Georgian refinery allegedly involved in Russian oil trade, with a ban on transactions.
EU members agreed to the 21st sanctions package against Russia after weeks of negotiations, targeting energy, financial services, crypto, and trade. The deal includes an LNG exemption for Greece and maintains the oil price cap.
Russian crude oil discounts for India have ended due to Middle East supply disruptions and Red Sea shipping risks, increasing demand for alternative grades. This development, driven by geopolitical tensions, is expected to squeeze margins for Indian refiners like BPCL, which recently reported quarterly losses.
Japan imported approximately 1.53 million barrels of Russian oil in May and June at an average price of $103 per barrel, primarily from the Sakhalin-2 project, which is exempt from sanctions. This occurs amidst a domestic debate on energy security and continued cooperation with Russia despite G7 policies.
Ken Bates, who owned Chelsea FC for 22 years, has died aged 94. He bought the club for £1 in 1982 and saved it from financial ruin, eventually selling it to Roman Abramovich for £17m in 2004. Bates was known for his pugnacious style and controversial decisions.
Ukraine launched attacks on Russia's Samara region and the Azov-Black Sea Canal, hitting the Syzran Oil Refinery and an empty tanker. One person died and three were injured in the Samara strike. The attacks aim to disrupt Russian military logistics and energy revenues.
Ukraine has intensified attacks on Russian shadow tankers supplying Crimea and refineries deep within Russia, including the Omsk refinery. These strikes aim to worsen an energy crisis on the peninsula and deny Russia fuel and export revenue, with significant damage reported to Russia's refining capacity.
Russian Deputy Prime Minister Alexander Novak stated that major vertically integrated oil companies are maintaining gas station prices at or below the inflation rate. These companies, including Rosneft and Lukoil, operate over 9,000 of Russia's 29,000 gas stations, prioritizing direct supply to consumers and independent operators. Investigations are ongoing into higher fuel costs in Crimea due to complex logistics.
Ukrainian drone attacks caused fires at an oil refinery in Krasnodar and fuel depots/port in Rostov, Russia. Residents were evacuated from affected areas. These strikes target Russia's energy infrastructure, contributing to fuel shortages.
Russian oil and petroleum product exports in June 2026 reached 7.71 million bpd, a 5.33% increase from May. However, export revenues dropped nearly 24% to $15.84 billion due to lower energy prices, with Urals crude falling to $61.15 per barrel.
Ukrainian drones targeted Russian oil facilities and set two oil tankers ablaze in the Sea of Azov on Thursday. This follows a US pledge to license Patriot system manufacturing in Ukraine, with Kyiv cautioning about production timelines. The strikes contribute to a fuel crisis in Russia.
Ukraine has struck 12 Russian oil tankers in the Sea of Azov, impacting fuel supplies for Russian troops and energy exports. Meanwhile, the US has licensed Ukraine to manufacture Patriot missile interceptors, drawing condemnation from Moscow. Russia has banned diesel exports to address domestic shortages caused by Ukrainian drone attacks on oil facilities.
Ukraine targeted Russian oil infrastructure overnight, hitting depots in Tver and Stavropol and setting two tankers ablaze in the Sea of Azov. President Zelenskyy stated these strikes are part of a "long-range sanctions" campaign in response to Russian aggression.
Ukraine has struck 12 Russian oil tankers in the Sea of Azov, disrupting fuel supplies crucial for Russia's war effort. Meanwhile, former US President Trump announced a license for Ukraine to manufacture Patriot missile interceptors, drawing criticism from Moscow. Russian-occupied Crimea faces severe fuel shortages, with prices surging.
Ukraine struck 12 Russian oil tankers in the Sea of Azov, disrupting fuel supplies and war financing. Meanwhile, Donald Trump announced the US will license Ukraine to manufacture Patriot missile interceptors, drawing condemnation from Moscow. Russia faces fuel shortages due to Ukrainian attacks.
Ukrainian drones have conducted long-range attacks on Russia's largest oil refineries, including Omsk, NORSI, and others across Siberia and European Russia. These strikes are reportedly intensifying fuel shortages, leading to price hikes and queues at petrol stations.
