{"id":577827,"date":"2022-12-06T04:01:46","date_gmt":"2022-12-06T04:01:46","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/day-one-of-the-russia-oil-price-cap\/"},"modified":"2022-12-06T04:01:46","modified_gmt":"2022-12-06T04:01:46","slug":"day-one-of-the-russia-oil-price-cap","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/day-one-of-the-russia-oil-price-cap\/","title":{"rendered":"Day one of the Russia oil price cap"},"content":{"rendered":"<p><strong>The West\u2019s price cap on Russian crude is now in effect \u2014 and a backlog of tankers is <\/strong><strong>forming off the Turkish coast<\/strong> as Ankara demands to see proof of ins. before allowing vessels through the straits, the <a href=\"https:\/\/www.ft.com\/content\/d08d8583-cf2a-43e6-b262-d8eab81c98c8\">Financial Times<\/a> reported, citing ship brokers, oil traders and satellite tracking services. Nineteen ships are now waiting to transit through the Turkish straits in a potential sign of the disruption to come as the world responds to what the <a href=\"https:\/\/www.ft.com\/content\/66e8faee-9cfa-4017-b0fd-6f884a672e76\">FT editorial board<\/a> calls \u201cone of the most forceful interventions in the global oil market ever.\u201d<\/p>\n<p><strong>FYI-<\/strong> Under the sanctions, oil tankers are prevented from buying Western maritime ins. if the oil is sold above the USD 60 price cap.<\/p>\n<p><strong>Meanwhile, on the other side of the world:<\/strong> Russia was selling its ESPO blend from the port of Kozmino on the Sea of Japan for USD 79 a barrel, significantly above the USD 60 cap, <a href=\"https:\/\/www.reuters.com\/business\/energy\/russian-oil-selling-79barrel-asia-monday-well-above-price-cap-2022-12-05\/\">Reuters<\/a> reported yesterday.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Breakthrough in Sudan?<\/strong> Sudan\u2019s ruling military leaders have signed an agreement with the country\u2019s main pro-democracy group that lays the foundations for a return to a civilian-led administration following last year\u2019s military coup, according to <a href=\"https:\/\/apnews.com\/article\/middle-east-africa-sudan-khartoum-651a0be9bf731d32df41d493a191418e\">the Associated Press<\/a>. Under the framework agreement \u2014 signed by General Abdel Fattah Burhan, General Mohammed Hamdan Dagalo and the leaders of the Forces for the Declaration of Freedom and Change \u2014 the military vowed to eventually reduce its involvement in politics and allow for the creation of a new transitional government.<\/p>\n<p><strong>Yes, but:<\/strong> The agreement doesn\u2019t commit the military to a timetable or specify how it would share power with civilian leaders ahead of national elections. Other anti-military protest groups and rebel leaders rejected the pact.<\/p>\n<p><strong>Egypt has voiced support for the agreement:<\/strong> The Foreign Ministry <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02WAHeYe8egsbspHTg1jQPE2NPFbFNSPpUSSYQTMKC8e6s8ob6qCSJcipkLaT1rMNsl\">called it<\/a> an \u201cimportant and pivotal step\u201d for addressing the political crisis in the country.<\/p>\n<hr class=\"grey-line\">\n<p><strong>China to keep easing covid curbs: <\/strong>China is set to relax more of its strict covid-19 measures as early as tomorrow, as investors react positively to the recent easing of some restrictions, two sources familiar with the matter told <a href=\"https:\/\/www.reuters.com\/world\/china\/china-may-announce-10-new-covid-measures-wednesday-sources-2022-12-05\/\">Re<\/a><a href=\"https:\/\/www.reuters.com\/world\/china\/china-may-announce-10-new-covid-measures-wednesday-sources-2022-12-05\/\">uters<\/a>. The CNY <a href=\"https:\/\/www.ft.com\/content\/e332c5a7-4cda-4773-8782-89faccadc35f\">rose to it<\/a><a href=\"https:\/\/www.ft.com\/content\/e332c5a7-4cda-4773-8782-89faccadc35f\">s highest<\/a><a href=\"https:\/\/www.ft.com\/content\/e332c5a7-4cda-4773-8782-89faccadc35f\">level<\/a> against the greenback since mid-September and Chinese stocks rose on investor hopes that easing restrictions will boost global economic growth and increase demand for commodities. Apple was also given a boost yesterday after its main supplier Foxconn <a href=\"https:\/\/www.reuters.com\/world\/china\/foxconn-expects-full-production-covid-hit-china-plant-late-december-early-2022-12-05\/\">said<\/a> that its covid-hit \u201ciPhone City\u201d in Zhengzhou could be back running at full capacity later this month.<\/p>\n<p><strong>Iran is trying to appease protesters:<\/strong> Iran\u2019s attorney-general has said that the country\u2019s morality police are being disbanded in an apparent olive branch to anti-government protests that have raged since September following the death of a woman in police custody. The religious police are responsible for enforcing the country\u2019s strict Islamic dress code and have been blamed for the death of Mahsa Amini, who was arrested for allegedly failing to cover her head. The official\u2019s statements have not been officially confirmed by the government.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The West\u2019s price cap on Russian crude is now in effect \u2014 and a backlog of tankers is forming off the Turkish coast as Ankara demands to see proof of ins. before allowing vessels through the straits, the Financial Times reported, citing ship brokers, oil traders and satellite tracking services. Nineteen ships are now waiting [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":577828,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7328],"tags":[222,116,107,93,72,716,91,127,270,126],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-577827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-china","tag-covid-19","tag-energy","tag-enterpriseam","tag-iran","tag-oil-and-gas","tag-politics","tag-russia","tag-sudan","wpautop","entry"],"acf":{"mongo_id":"1d56d65f-4fd0-4cd0-b06e-ec4e06fd5ded","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/12\/103.jpg","photo_position":"above","related_issue":[577799],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Day one of the Russia oil price cap - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/day-one-of-the-russia-oil-price-cap\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Day one of the Russia oil price cap\" \/>\n<meta property=\"og:description\" content=\"The West\u2019s price cap on Russian crude is now in effect \u2014 and a backlog of tankers is forming off the Turkish coast as Ankara demands to see proof of ins. before allowing vessels through the straits, the Financial Times reported, citing ship brokers, oil traders and satellite tracking services. Nineteen ships are now waiting [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/day-one-of-the-russia-oil-price-cap\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-06T04:01:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/103.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/day-one-of-the-russia-oil-price-cap\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/day-one-of-the-russia-oil-price-cap\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Day one of the Russia oil price cap\",\"datePublished\":\"2022-12-06T04:01:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/day-one-of-the-russia-oil-price-cap\/\"},\"wordCount\":501,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/day-one-of-the-russia-oil-price-cap\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/103.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Around the World\",\"China\",\"covid-19\",\"energy\",\"EnterpriseAM\",\"Iran\",\"oil and gas\",\"politics\",\"Russia\",\"Sudan\"],\"articleSection\":[\"AROUND THE WORLD\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/day-one-of-the-russia-oil-price-cap\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/06\/day-one-of-the-russia-oil-price-cap\/\",\"name\":\"Day one of the Russia oil price cap - 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He said that the agreements included both the private and public sectors, yet\u2026","rel":"","context":"In &quot;AROUND THE WORLD&quot;","block_context":{"text":"AROUND THE WORLD","link":"https:\/\/enterpriseam.com\/egypt\/category\/around-the-world\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/234.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577950,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/11\/putin-threatens-to-cut-oil-production-in-response-to-g7-price-cap\/","url_meta":{"origin":577827,"position":1},"title":"Putin threatens to cut oil production in response to G7 price cap","author":"enterpriseam admin","date":"11 December 2022","format":false,"excerpt":"Russia could respond to price cap by cutting production -Putin: Moscow will not sell oil to countries that impose the G7\u2019s price cap and could cut production, Russian President Vladimir Putin said Friday, according to the Financial Times. Russia \u201cwould simply not sell to the countries\u201d that imposed the cap\u2026","rel":"","context":"In &quot;AROUND THE WORLD&quot;","block_context":{"text":"AROUND THE WORLD","link":"https:\/\/enterpriseam.com\/egypt\/category\/around-the-world\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/196.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":583359,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/21\/gcc-takes-on-hollywood-russia-spends-bns-on-shadow-tanker-fleet\/","url_meta":{"origin":577827,"position":2},"title":"GCC takes on Hollywood + Russia spends bns on shadow tanker fleet","author":"enterpriseam admin","date":"21 February 2023","format":false,"excerpt":"Hollywood is starting to open its arms to money from oil-rich Gulf countries, who are looking to invest bns in the entertainment industry, Lucas Shaw writes in Bloomberg.Film production companies had previously distanced themselves from Saudi Arabia, but resistance to funds from the kingdom is fading as traditional film financing\u2026","rel":"","context":"In &quot;FOR YOUR COMMUTE&quot;","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/wp-content\/uploads\/2020\/09\/movies-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577723,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/04\/this-morning-mps-to-discuss-competition-act-today-g7-agrees-russia-oil-price-cap\/","url_meta":{"origin":577827,"position":3},"title":"THIS MORNING: MPs to discuss Competition Act today; G7 agrees Russia oil price cap","author":"enterpriseam admin","date":"4 December 2022","format":false,"excerpt":"Good morning, folks. We\u2019re only two days away from meeting with some of you at the Enterprise Climate X Forum at the Grand Egyptian Museum on Tuesday, 6 December. We kick things off with a networking and standing breakfast at 8am CLT, followed by panel discussions and live interviews on:\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/33.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578451,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/28\/russia-to-ban-oil-sales-to-countries-that-implement-the-g7-price-cap-from-february\/","url_meta":{"origin":577827,"position":4},"title":"Russia to ban oil sales to countries that implement the G7 price cap from February","author":"enterpriseam admin","date":"28 December 2022","format":false,"excerpt":"Russia responds to the G7 price cap: Russia will ban oil sales to countries that impose the G7\u2019s price cap from 1 February, the Kremlin announced yesterday in a move that could trigger further volatility in global energy markets in the months ahead.It could have been worse: The ban will\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/588.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":585793,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/30\/the-us-iran-are-engaging-in-tit-for-tat-tanker-seizing\/","url_meta":{"origin":577827,"position":5},"title":"The US + Iran are engaging in tit-for-tat tanker seizing","author":"enterpriseam admin","date":"30 April 2023","format":false,"excerpt":"Washington is trying to clamp down on Iranian oil exports, which are rising despite US sanctions","rel":"","context":"In &quot;AROUND THE WORLD&quot;","block_context":{"text":"AROUND THE WORLD","link":"https:\/\/enterpriseam.com\/egypt\/category\/around-the-world\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/961.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/577827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=577827"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/577827\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/577799"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/577828"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=577827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=577827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=577827"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=577827"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=577827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}