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Italy increases Russian oil imports as EU agrees upon an embargo

Published

3 years ago

June 2, 2022

ticker NEWS

Whilst countries in the EU have all agreed to reduce oil imports from Russia, Italy has increased them

Originally intending to punish Russia for their invasion of Ukraine, the EU now puts at risk one of Italy’s largest refineries.

Before the war, the Russian-controlled plant located in Sicily processed 15 per cent of Russian crude, which has grown to 100 per cent following the sanctions against Moscow.

The increased import comes as banks refuse to extend credit to the Lukoil-owned refinery, preventing the energy corporation from buying oil from non-Russian sources.

According to Kpler commodity data, the Russian parent continues to send over 400 thousand barrels of crude to the port-side plant every day, four times the amount imported prior to the invasion.

The refinery generates half of the gross domestic product in the Italian province and as EU leaders agree to cut the import of Russian crude by 2023, the plant faces the threat of closure.

As the oil embargo approaches, the region faces great economic consequences.

Samantha Hogan has contributed to this article.

Related Topics:Business Politics russia trending

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Charlie Kirk’s legacy reshaping US conservatism

“Charlie Kirk united GOP grassroots through social media and activism, but his death raises questions about future leadership.”

Published

1 hour ago

September 16, 2025

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Charlie Kirk united GOP grassroots through social media and activism, but his death raises questions about future leadership.

Charlie Kirk transformed the Republican grassroots movement by fusing social media reach with in-person activism, turning Turning Point USA into a cultural and political force.

His bold campus debates, viral online presence, and close alliance with Donald Trump energised young conservatives and boosted GOP turnout.

With his assassination, questions now loom over who can continue his unique blend of digital influence and grassroots organising.

#CharlieKirk #TurningPointUSA #ConservativePolitics #GOP #Grassroots #TickerNews

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Vance vows crackdown after Kirk murder

VP Vance condemns celebrations of Kirk’s assassination, vows to target institutions promoting political violence, and criticizes left-wing media.

Published

1 hour ago

September 16, 2025

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VP Vance condemns celebrations of Kirk’s assassination, vows to target institutions promoting political violence, and criticizes left-wing media.

US Vice-President JD Vance has condemned those celebrating the assassination of conservative activist Charlie Kirk, pledging the Trump administration will target institutions that promote political violence.

Speaking on Kirk’s own podcast, Vance accused left-wing media of fuelling hostility and warned that unity cannot exist while political violence is tolerated.

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Dollar steady as markets await Fed’s rate decision

Dollar steady ahead of Fed’s expected rate cut decision on Wednesday

Published

18 hours ago

September 15, 2025

Ahron Young

Dollar steady ahead of Fed’s expected rate cut decision on Wednesday

In Short:
– The U.S. dollar stayed stable as investors await the Federal Reserve’s interest rate cut announcement.
– Asian equities rose, with the MSCI Asia Pacific Index hitting a record high amid U.S. market gains.

The U.S. dollar remained stable on Monday as investors await the Federal Reserve’s upcoming policy meeting, where the central bank is expected to announce its first interest rate cut in nine months.

Trading volumes were low due to a holiday in Japan, causing currencies to remain rangebound.

Market participants have largely priced in a 25 basis point reduction in the federal funds rate, anticipated to bring the key rate to between 4.00%-4.25%.

This marks the first easing action since December 2024.

Recent economic data indicates a cooling labour market, with jobless claims rising to the highest levels since 2021, overshadowing inflation concerns.