
Sanctioned Russian Oil Vanishes From Tracking in Gulf of Oman
A cargo of Russian oil that's under heavy US sanctions vanished from global tracking systems, evidence of how difficult it will be to keep track of — and enforce — the measures.
The 900-foot oil tanker Meru left Murmansk in the Arctic Sea on Jan. 20, ten days after the US Treasury's Office of Foreign Assets Control imposed most-aggressive sanctions on Russia's oil trade — especially those from the Arctic.

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San Francisco Chronicle
an hour ago
- San Francisco Chronicle
Russia's economy minister says the country is on the brink of recession
ST. PETERSBURG, Russia (AP) — Russia's economy is 'on the brink of going into a recession,' the country's economy minister said Thursday, according to Russian media reports. Economy Minister Maxim Reshetnikov delivered the warning at the St. Petersburg International Economic Forum, the annual event in Russia's second largest city designed to highlight the country's economic prowess and court foreign investors. Russian business news outlet RBC quoted the official as saying 'the numbers indicate cooling, but all our numbers are (like) a rearview mirror. Judging by the way businesses currently feel and the indicators, we are already, it seems to me, on the brink of going into a recession.' Russia's economy, hit with a slew of sanctions after the Kremlin sent troops into Ukraine in February 2022, has so far outperformed predictions. High defense spending has propelled growth and kept unemployment low despite fueling inflation. At the same time, wages have gone up to keep pace with inflation, leaving many workers better off. Large recruiting bonuses for military enlistees and death benefits for those killed in Ukraine also have put more income into the country's poorer regions. But over the long term, inflation and a lack of foreign investments remain threats to the economy, leaving a question mark over how long the militarized economy can keep going. Economists have warned of mounting pressure on the economy and the likelihood it would stagnate due to lack of investment in sectors other than the military. Speaking at one of the sessions of the forum in St. Petersburg, Reshetnikov said Russia was 'on the brink,' and whether the country would slide into a recession or not depends on the government's actions. 'Going forward, it all depends on our decisions," Reshetnikov said, according to RBC. Siluanov spoke about the economy 'cooling' but noted that after any cooling 'the summer always comes," RBC reported. Nabiullina said Russia's economy was merely 'coming out of overheating," according to RBC.


San Francisco Chronicle
an hour ago
- San Francisco Chronicle
Spain rejects NATO's anticipated defense spending increase as 'unreasonable'
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The Hill
an hour ago
- The Hill
Russia's economy minister says the country is on the brink of recession
ST. PETERSBURG, Russia (AP) — Russia's economy is 'on the brink of going into a recession,' the country's economy minister said Thursday, according to Russian media reports. Economy Minister Maxim Reshetnikov delivered the warning at the St. Petersburg International Economic Forum, the annual event in Russia's second largest city designed to highlight the country's economic prowess and court foreign investors. Russian business news outlet RBC quoted the official as saying 'the numbers indicate cooling, but all our numbers are (like) a rearview mirror. Judging by the way businesses currently feel and the indicators, we are already, it seems to me, on the brink of going into a recession.' Russia's economy, hit with a slew of sanctions after the Kremlin sent troops into Ukraine in February 2022, has so far outperformed predictions. High defense spending has propelled growth and kept unemployment low despite fueling inflation. At the same time, wages have gone up to keep pace with inflation, leaving many workers better off. Large recruiting bonuses for military enlistees and death benefits for those killed in Ukraine also have put more income into the country's poorer regions. But over the long term, inflation and a lack of foreign investments remain threats to the economy, leaving a question mark over how long the militarized economy can keep going. Economists have warned of mounting pressure on the economy and the likelihood it would stagnate due to lack of investment in sectors other than the military. Speaking at one of the sessions of the forum in St. Petersburg, Reshetnikov said Russia was 'on the brink,' and whether the country would slide into a recession or not depends on the government's actions. 'Going forward, it all depends on our decisions,' Reshetnikov said, according to RBC. RBC reported Russia's Finance Minister Anton Siluanov and Central Bank Gov. Elvira Nabiullina gave more optimistic assessments. Siluanov spoke about the economy 'cooling' but noted that after any cooling 'the summer always comes,' RBC reported. Nabiullina said Russia's economy was merely 'coming out of overheating,' according to RBC.