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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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Why Australia is becoming the new home of the Hollywood blockbuster

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1 day ago

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May 17, 2024

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Australia’s multimillion-dollar campaign to attract Hollywood productions to its shores appears to be paying off.

The allure of Australia lies not only in its picturesque locations but also in its competitive financial incentives.

The government offers generous rebates and tax breaks to international productions, making it an attractive proposition for filmmakers looking to maximise their budgets.

Despite the recent intake of Hollywood productions down under such as ‘The Fall Guy’ and ‘Furiosa: A Mad Max Saga’, Aussie independents are still finding the space to carve their own creative path.

Rob Fantozzi joined the program to discuss the latest in Hollywood, and showcased his own upcoming project – ‘Omerta‘. #featured

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Portal between countries shut down after international flashing

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2 days ago

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May 17, 2024

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An international video portal has been forced to shut down after an OnlyFans model reportedly flashed passersby from across the globe.

On this episode of Ahron and Mike Live – Which would you prefer; pay rise or work perks, an international portal closes, the military reveal a submarine stingray and are you on a top or bottom burger bun?

Ticker’s Ahron Young & Mike Loder discuss. #featured #trending

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U.S. home prices surge 47%

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2 days ago

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May 17, 2024

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American home prices are rising at faster pace now than in the last 20-years.

A recent analysis reveals a jaw dropping surge in the cost of American homes.

Since the start of 2020, U.S. home prices have surged 47% easily outstripping the gains seen in recent decades.

On top of that, home price growth so far this decade is on the verge of surpassing all the growth seen in the 2000s.

Many experts believe this decade’s housing market frenzy was ignited by a perfect storm — the onset of the COVID-19 pandemic triggering an unprecedented rush among buyers.

Tom Hutchens, the Executive Vice President of Production at Angel Oak Mortgage Solutions joins Veronica Dudo to discuss.

#IN AMERICA TODAY #economy #housing #housingmarket #homeprices #homesales #inflation #trending

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