Russian oil

The price of refined petroleum products remain as high as if crude oil was still changing hands above US$100 a barrel.

Opinion & Features

Iran isn’t the only conflict vexing the global oil market

Ukraine’s attacks on Russia’s refineries are driving up prices of petrol and diesel

During the war on Iran, Trump’s administration waived US sanctions on the Russian oil to help vulnerable economies deal with the energy crisis.

Global Enterprise

US quietly allows waiver on Russian oil to expire

Trump says the US could end the waiver because Middle East oil is flowing

Russian President Vladimir Putin shakes hands with Malaysian Prime Minister Anwar Ibrahim (left) during an official welcoming ceremony for Russia-Asean Summit in Kazan.

Asean Business

Malaysia and Russia weigh using ruble, ringgit to boost trade

Both countries also review opportunities for greater energy cooperation

Oil prices have soared as a result of the Iran war and the effective closure of the Strait of Hormuz.

International

EU weighs temporary freeze on Russia oil price cap over Iran

Other sanctions mulled include targeting more banks, oil traders, refineries and crypto operators

Analysts said there has been a rising demand for Russian oil in China and India.

Global Enterprise

What is behind the rising volume of Russian oil arriving in Singapore?

Singapore is also the world’s largest bunkering hub

Chinese President Xi and Russian President Putin in Beijing on Sep 2, 2025. Putin says both sides support each other’s “core interests” as he pursues additional energy deals with China.

Global Enterprise

Xi to host ‘old friend’ Putin as China projects stable global role after Trump visit

Moscow expected to seek closer energy cooperation with Beijing

In the US, a record 9.9 million barrels were drawn from the Strategic Petroleum Reserve last week, Energy Department data showed.

Energy & Commodities

Oil falls over 2% as Trump says he holds off scheduled attack on Iran

US extends sanctions waiver on Russian seaborne oil

EU foreign policy chief Kaja Kallas said the 27-nation bloc was seeking Asean’s cooperation on its sanctions against Russia.

Asean Business

EU’s top diplomat calls on South-east Asia countries to seek alternatives to Russian oil

Kaja Kallas warns that the purchase of Russian oil is also helping Iran maintain its closure of Hormuz

Indonesian President Prabowo Subianto and Russian President Vladimir Putin met at the Kremlin in Moscow on April 13.

Asean Business

As more Asean states turn to Russia for fuel, will Moscow boost its influence in the region?

Moscow has much to gain as fuel exports to the region will result in hard currency and alternative markets

The temporary authorisation, which applies to Russian crude that would otherwise be sanctioned, comes after a previous waiver expired Apr 11.

Energy & Commodities

US again allows more Russian oil sales to help control prices amid Iran war

[LOS ANGELES] The US on Friday (Apr 17) issued a licence letting countries buy more Russian oil that’s already been loaded on tankers, part of the White House’s push to prevent prices from surging.

Latest T-bills Treasury Bills Results & Interest News Latest SSB Singapore Savings Bonds News Latest COE Certificate of Entitlement News

Latest Johor-Singapore SEZ News Latest BTO Build To Order & Sales of Balance News Latest STI Straits Times Index News Latest SGX Dividends, Share Price News Latest Bonds Market News Latest Singapore Stocks To Buy News Latest Singapore Economy News