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The Latest Breaking News from Alexander Novak

Russia May Cut Oil Output in Response to Price Caps, Says Deputy PM

Russia may cut oil output by 5%-7% in early 2023 as it responds to price caps on its crude and oil products by halting sales to the countries that support them, Deputy Prime Minister Alexander Novak told state television on Friday. Detailing for the first time the Russian response to…

Asharq Al-Awsat

Russia intends to cut oil output in response to Western price caps

As Russian President Vladimir Putin said he would sign a decree on Russia’s response to Western price caps on oil, Deputy Prime Minister Alexander Novak said output could be cut by 5 to 7 percent in early 2023.

Radio France Internationale

US approves $45 billion aid package for Ukraine

The Democratic-controlled US House of Representatives gave final approval on Friday to a $45 billion aid package for Ukraine, as President Volodymyr Zelenskiy returned from Washington with the promise of Patriot missiles to help combat Russia's invasion. Read our live blog to see how all the day's events unfolded. All…

France 24

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Russia discusses debt, energy stability with Venezuela

Russian Deputy Prime Minister Alexander Novak met on Wednesday with Venezuela's oil minister in Caracas, where they discussed oil market volatility and the status of Venezuela's outstanding debts to Russia.

Reuters

Russian oil price cap put to the test

Brussels (AFP) - The price cap on Russian oil agreed by the EU, G7 and Australia came into force on Monday.It aims to restrict Russia's revenue as punishment for its invasion of Ukraine, while making sure Moscow keeps supplying the global market.

AFP

G7 Russian oil price cap and EU embargo come into force

The price cap on Russian oil agreed by the European Union (EU), G7 and Australia is set to come into force on Monday. It aims to restrict Russia's revenue while making sure Moscow keeps supplying the global market.

Radio France Internationale

Russian oil cap begins, trying to pressure Putin on Ukraine

Western countries on Monday began imposing a $60-per-barrel price cap and ban on some types of Russian oil, part of new measures aimed at stepping up pressure against Moscow over its war on Ukraine

The Independent UK

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OPEC+ to keep output unchanged in uncertain climate

Vienna (AFP) - Major oil-producing countries led by Saudi Arabia and Russia agreed Sunday to maintain their current output levels in a climate of uncertainty and ahead of fresh sanctions against Moscow coming into force next week.

AFP

Russia needs permission for its ships to probe Nord Stream ruptures - Novak

Russia needs permission for its vessels to conduct investigations into explosions that damaged Nord Stream pipelines in the Baltic Sea, Deputy Prime Minister Alexander Novak said on Friday.

Reuters

The White House accuses Saudi Arabia of aiding Russia and coercing OPEC oil producers

A major oil output cut by Saudi Arabia, Russia and other oil producers has drawn sharp accusations in Washington.

WEKU

Russia's Novak says Moscow ready to begin investigation of Nord Stream incidents

Russian Deputy Prime Minister Alexander Novak said on Wednesday that Russia is ready to begin an investigation of the recent incidents on the Nord Stream pipelines.

Reuters

OPEC slashes oil production as recession looms, with developing countries set to be the biggest losers

With a possible recession set to cut deeply into global demand for oil, the cartel is cutting production by 2 million barrels per day.

Crikey

OPEC+ cuts oil production by 2m barrels a day despite US pressure

US expresses disappointment in move that could spur an increase in oil prices, which had dropped in recent months.

Al Jazeera

OPEC+ to consider output cut of more than 1 million barrels

The OPEC+ group of oil producers will consider cutting output by more than 1 million barrels a day, according to delegates, when it meets in person on Wednesday for the first time in more than two years.

Tribune News Service

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Reuters

Russian Deputy PM says it's possible to restore Nord Stream pipelines - TASS

Russian Deputy Prime Minister Alexander Novak said on Sunday that it was technically possible to restore ruptured offshore infrastructure of Nord Streams pipelines, TASS news agency reported.

Reuters

Kremlin blames Europe for Nord Stream 1 halt, saying sanctions hamper maintenance

The Kremlin blamed European politicians on Sunday for keeping shut the Nord Stream 1, one of its main gas supply routes, saying their economic sanctions on Russia had hindered Gazprom's maintenance of the pipeline.

Asharq Al-Awsat

G7 Finance Chiefs Agree on Russian Oil Price Cap but Level Not Yet Set

Group of Seven finance ministers agreed on Friday to impose a price cap on Russian oil aimed at slashing revenues for Moscow's war in Ukraine while avoiding price spikes, but Russia said it would halt oil sales to countries imposing it. The ministers from the G7 wealthy democracies confirmed their…

Asharq Al-Awsat

Erdogan: Sochi Talks with Putin on Syria Will Bring Relief to the Region

Turkish President Recep Tayyip Erdogan said on Friday that his talks with his Russian counterpart Vladimir Putin on Syria will ease tensions in the region. The two leaders met at the Russian Black Sea resort of Sochi to tackle a grain deal brokered by Turkey and the UN, prospects for…

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Reuters

Putin and Erdogan agree to boost cooperation, some rouble payments for gas

Russian President Vladimir Putin and Turkish President Tayyip Erdogan agreed on Friday to boost cooperation in the transport, agriculture, finance and construction industries, they said in a joint statement after a four-hour meeting.

Asharq Al-Awsat

Saudi Energy Minister Meets with Russia's Deputy Prime Minister

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz met in Riyadh on Friday with Russia's Deputy Prime Minister Alexander Novak, the Saudi Press Agency (SPA) reported. During the meeting, they discussed the developments of the works of the Saudi-Russian Joint Committee as well as cooperation opportunities between the…

Reuters

Saudi energy minister, Russia's Novak discuss cooperation ahead of OPEC+ meeting

Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman met Russian Deputy Prime Minister Alexander Novak on Friday in Riyadh, the Saudi energy ministry said on Twitter.

Al Jazeera

Russia-Ukraine latest updates: Moscow using Soviet-era missiles

Ukraine news from June 30: Russia using old Soviet stocks for more than half of all strikes in Ukraine, says General.

Asharq Al-Awsat

Deputy PM: Russia Has No Need to Cut Oil Output

Russia has no need to cut its oil output in response to the European Union's embargo, Deputy Prime Minister Alexander Novak told RBC business channel on Thursday. According to Reuters, he earlier said he expected Russia's annual oil production for 2022 would be about 500 million tons, down from 524…

Reuters

Russian Deputy PM says several buyers agree to pay in roubles for Russian gas

Several buyers of Russian gas have agreed to switch to payments in roubles, Russian Deputy Prime Minister Alexander Novak said on Friday.

AFP

Oil prices jump, stocks mixed with spotlight on surging inflation

London (AFP) - Oil prices rallied Wednesday, adding to soaring inflation concerns, while stock markets diverged.

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