Tag: black sea

Elon Musk says he denied Ukraine satellite request to avoid complicity in “major act of war” vs. Russia
Money

Elon Musk says he denied Ukraine satellite request to avoid complicity in “major act of war” vs. Russia

Washington — Tech billionaire Elon Musk has said that he prevented a Ukrainian attack on a Russian Navy base last year by declining Kyiv's request to activate internet access in the Black Sea near Moscow-annexed Crimea. Satellite internet service Starlink, operated by Musk-owned company SpaceX, has been deployed in Ukraine since shortly after it was invaded by Russia in February 2022. "There was an emergency request from government authorities to activate Starlink all the way to Sevastopol. The obvious intent being to sink most of the Russian fleet at anchor," Musk posted Thursday on X, formerly named Twitter. There was an emergency request from government authorities to activate Starlink all the way to Sevastopol.The obvious intent being to sink most of the Russian fleet at anchor.If...
Russian oil discount shrinks 87% to $4/barrel as sellers game shipping, insurance to skirt G7 price cap
Business

Russian oil discount shrinks 87% to $4/barrel as sellers game shipping, insurance to skirt G7 price cap

NEW DELHI: The love affair with Russian oil appears to be losing its charm for Indian refiners as discounts have shrunk to $4 per barrel from peaks of $25-30, with sellers going dark on shipping rates to cover the gap with benchmark Brent crude and skirt western price cap, people in the know told TOI.Russian crude now accounts for about 40% of India’s total oil imports, up from less than 2% in before the Ukraine conflict. Indian refiners began lapping up Russian crude as sellers began offering hefty discounts as Western buyers shunned those barrels as the US and the EU slapped sanctions on Russia, including its energy exports.Indian refiners buy Russian oil on delivered basis, wherein the seller arranges shipping and insurance, to avoid falling foul of the sanctions. This aspect became mo...