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Russia establishes a new oil company on the day of Rosneft's departure from Venezuela
On March 28, when it became known that Russian oil giant Rosneft was terminating its operations in Venezuela, Russia’s Federal Agency for State Property Management, Rosimushchestvo, has established a new company, Roszarubezhneft, which will, in particular, be engaged in the production and transportation of oil and oil associated gas.
Interfax reports with reference to Russian Single Register of Legal Entities that the company's share capital is 322.7 billion rubles ($4.05 billion USD). It is …
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Poland declares victory over Gazprom in gas price dispute
The Stockholm arbitration ruled in Poland's favor in a five-year dispute with Gazprom over the price of gas, reported Polish state-owned oil and gas company PGNiG.
"The Court of Arbitration considered PGNiG's arguments and confirmed that the gas price under the Yamal contract was non-market and overstated," PGNiG said.
Now the Polish company will pay Gazprom for fuel under a new price calculation formula, "which is directly linked to gas prices in the Western European market.
"The court's …
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Kremlin: Putin has not asked Trump to lift sanctions against Russia
President Vladimir Putin has not asked US President Donald Trump to lift sanctions imposed on Russia, said the Russian President's press secretary, Dmitry Peskov, as cited by TASS.
On March 30, Trump suggested before a phone conversation with Putin that the Russian leader would ask him to lift U.S. sanctions, AFP reported. "He's been asking for it for two years," Trump said.
When asked by reporters whether Putin had asked for the sanctions to be lifted, Peskov said: "No, it's not so."
On …
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EU allocates 80 million euros to Ukraine to fight coronavirus
The European Union has allocated 80 million euros to Ukraine to fight the coronavirus, as reported on the website of the EU Mission in Ukraine
"Ukraine, which continues to suffer from Russian aggression and illegal annexation of Crimea and Sevastopol, has also been adversely affected by the pandemic in all spheres of life. The European Union welcomes the preventive measures taken by the Ukrainian government in response to the spread of COVID-19. We recognize the complexity of some of these …
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Rosneft expects that the U.S. sanctions will be lifted after sale of all its assets in Venezuela
Rosneft has the right to expect that the US will fulfill its promises and lift the sanctions against Rosneft's subsidiaries after the sale of all assets in Venezuela, said Rosneft’s spokesman Mikhail Leontiev as quoted by the news outlet Prime.
Earlier, Rosneft announced that it is terminating all its operations in Venezuela and selling all its assets to the company wholly owned by the Russian government. In exchange, the Russian government transferred to Rosneft 9.6% of its own shares.
"We, …