Russian President, Vladimir Putin, signed a decree on television on March 31st, demanding natural gas to be paid in rubles, as Putin said that Russian gas buyers from "unfriendly" countries should pay in rubles from accounts in Russia starting from April 1st, or they would face the "consequences".
With the escalation of the war in Ukraine, global energy giants announced that they have halted their operations in Russia without any intention to go into new investments in compliance with US and Europeans sanctions against Russia.
Oil priced has achieved the highest record since 2008 post the announcement of U.S that it discusses with Europe to ban imports of Russian oil and natural gas. At the first minutes of Monday trade Session, brent crude rose to $139.13 per barrel and West Taxes Intermediate (WTI) recorded $130.5 per barrel.
The US has agreed with its allies, the member countries of the International Energy Agency (IEA), to pump 60 million barrels of crude oil from their reserves into the market.
Page 1 of 1
