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U.S. sanctions drive Russian crude to $40, triggering bankruptcies across the oil sector
4 Articles
4 Articles
U.S. sanctions drive Russian crude to $40, triggering bankruptcies across the oil sector
Russia’s oil sector is facing a wave of bankruptcies as tightened U.S. sanctions drive prices for Russian crude down to $40 a barrel and below, triggering bankruptcies among producers in key regions. State-owned lender VTB plans to file a bankruptcy petition against First Oil, an oil group controlled by former Sibur shareholder Yakov Goldovsky, The Moscow Times reports. First Oil operates in the Khanty-Mansi Autonomous Okrug, Russia’s primary oi…
Russian bank VTB initiates bankruptcy of oil group "First Oil" - intelligenceRussian state bank VTB initiated bankruptcy of oil group "First Oil" due to debts of 78.3 million dollars. The assets of the company, which produces up to 500 thousand tons of oil per year, will be transferred to the control of state structures.
The Russian oil and gas industry has been hit by a wave of bankruptcies due to sanctions pressure. Dozens of companies are on the brink of collapse, and their assets are being transferred to state ownership, RBC-Ukraine reports, citing the Foreign Intelligence Service of Ukraine. Read also: Is this the last resort? The EU failed to agree on anniversary sanctions against Russia Oil company bankruptcies According to intelligence sources, Russian s…
Sanctions by the US and partners forced the occupiers to sell oil at discounts
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