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Italy increases Russian oil imports as EU agrees upon an embargo

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2 years ago

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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.

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20 killed, over 450 injured after hand-held radio detonation

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2 hours ago

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September 19, 2024

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Devastating blasts in Lebanon have left 20 dead and 450 injured after hand-held radios used by Hezbollah detonated.

The blasts follow a similar explosion on Tuesday, which killed 12, including two children, and injured nearly 3,000.

Hezbollah, momentarily thrown into chaos, struck back at Israeli artillery positions with rockets, marking the first retaliation since the deadly blasts.

Israeli intelligence is suspected of planting explosives in the radios and pagers Hezbollah purchased five months ago.

Israel’s military has refused to comment, fuelling further tension. #featured #trending

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Politics in the workplace: Musk backs Trump, while his workers donate to Harris

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7 hours ago

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September 19, 2024

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Workers associated with Elon Musk’s companies, including Tesla & SpaceX have reportedly made substantial donations to Kamala Harris’ campaign, despite Musk publicly supporting Donald Trump.

Employees from Elon Musk’s companies have thrown their financial support behind Vice President Kamala Harris, despite Musk publicly backing Donald Trump.

This comes as Musk, one of the world’s wealthiest men, has voiced his support for Trump in the 2024 presidential race.

Even with their boss firmly on Trump’s side, employees from his companies are backing Democrats in the upcoming election. #featured #trending

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Tight race between Donald Trump and Kamala Harris in Georgia

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7 hours ago

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September 19, 2024

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A new poll shows a tight race between Donald Trump and Kamala Harris in Georgia, with Trump leading Harris by a slim margin.

According to a new poll, former President Trump and Vice President Kamala Harris are neck-and-neck in one of the most important battleground states of the 2024 presidential election.

The Atlanta Journal-Constitution just released the results of its most recent voter survey, which framed the election as a dead heat race with significant margins for fluctuation.

The poll shows approximately 46.9% of voters currently say they would vote for Trump, compared to 44.4% of voters who say they would cast their vote for Harris.

Madeline Summerville, the CEO of Georgia Trial Consulting joins Veronica Dudo to discuss.

#IN AMERICA TODAY #trending #2024election #Georgia #electionpolls

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