Is North Korea rocketing towards algae energy?

North Korea could be growing algae in an attempt to diversify its energy resources and become more independent. That’s the suggestion from 38 North, part of the Johns Hopkins School of Advanced International Studies, which claims a blooming algae industry could allow the isolated nation to “mitigate the negative effects of sanctions both on the […]

‘Rosneft asks Putin for £25bn loan’

Russian energy giant Rosneft is said to have asked the Russian Government for a loan of £24.9 billion this week. Government sources told Russian paper Vedomosti the business’s Chairman Igor Sechin has asked for the cash to cope with Western sanctions, reported Reuters. In July, the United States put sanctions on several prominent Russian energy […]

USA and Europe lay out fresh energy sanctions on Russia

The European Union and the United States have brought fresh sanctions against Russia via its oil companies. Western leaders want to force President Vladimir Putin into using his influence in eastern Ukraine where fighting still rages. Pressure has upped since the crash of Malaysian flight MH17 over Ukraine, killing 298 people, with pro-Russian separatists suspected […]

Gas prices push higher after US-Russia sanctions

Sanctions against Russian companies announced by the United States yesterday are likely to be the “main driver” keeping up power prices this morning, according to our daily market report from npower. US President Barack Obama’s fresh set of sanctions pummelled US oil firm Rosneft and gas producer Novatek amongst other firms. Gemma Bruce, Client Portfolio […]

Russian oil boss put on US sanctions list

Russian oil chief Igor Sechin was slapped with sanctions by the United States yesterday in the latest move to pressurise Russia for its military action on its border with Ukraine. The country’s former Deputy Prime Minister and current Executive Chairman of state oil producer Rosneft, Mr Sechin is believed to be in President Vladimir Putin’s […]

MEPs seek EU sanctions against Russian energy firms

Members of the European Parliament (MEPs) are calling on the Commission to step up sanctions targeting Russia and its energy companies. In a non-binding resolution, MEPs said the EU should act “against Russian firms and their subsidiaries, especially in the energy sector and Russia’s EU assets, against a background of violence designed to destabilise the […]

US Congress approves new Iran oil sanctions

The United States could bring in a fresh round of oil sanctions against Iran after its Congress overwhelming voted in favour of a new extra package yesterday. The US wants to punish bankers and shippers who help Iran sell oil, according to reports. It follows President Obama’s announcement of new oil sanctions on Tuesday which […]