Estonia
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Oil & Gas
Six EU countries require lowering of G7 price cap on Russian oil
Six European Union countries called on the European Commission to decrease the $60 per barrel price cap put on Russian oil by G7 countries, arguing it would decrease Moscow's revenues to continue the war in Ukraine while not causing a market shock. Cost caps on Russian seaborne crude in addition to refined petroleum items were set by G7 countries to suppress Moscow's. profits from oil trade and in this method limitation the nation's. capability to fund its invasion of Ukraine. Procedures that target incomes from the export of oil are. crucial considering that they lower Russia's single most important earnings.
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Energy Markets
Estonia says China has actually not reacted to subsea cables probe request
Estonia's state prosecutor said China has actually not responded to a sixmonthold request for aid with an examination into a Chinese ship which Estonia suspects cut two of its subsea telecoms cables. The two cable televisions linking Estonia to Finland and Sweden were damaged on Oct. 7-8, and an Estonia-Finland gas pipeline was broken in what Finnish private investigators think might have been sabotage, hurting energy security and raising alarm bells in the larger region. Both Estonia, which is investigating the cables damage, and Finland, checking out the Balticconnector gas pipeline, have named the Hong Kong-registered container ship NewNew Polar