Abramovich hits out at UK government over frozen £2.3bn Chelsea proceeds Sport Business Former Chelsea owner Roman Abramovich has criticised the government over moves that have “paralysed” his £2.3bn windfall from the sale of the Premier League club. Following the invasion of Ukraine, the Russian billionaire sold the Stamford Bridge club to a consortium fronted by American Todd Boehly, with the proceeds placed in a frozen bank account [...]
Britain must step up sanctions on Iranian oil Opinion The US cannot shoulder the burden of dismantling Iran’s energy export machine alone. The UK needs to step up and match our ally in both ambition and execution, says Lord Walney Last month’s UN security council vote to reimpose nuclear sanctions on Iran confirmed a geopolitical reality recognised by policymakers on Capitol Hill many years [...]
Petroineos: Sir Jim Ratcliffe-backed energy giant loses $250m Energy Petroineos, the energy trading company backed by Sir Jim Ratcliffe, lost $250m (£187.5m) in 2024 as it slumped into the red for the first time since 2020, it has been revealed. The Jersey-based business has reported the pre-tax loss after posting a profit of $30m in 2023. The results for the previous financial year were [...]
What will the Trump-Putin meeting mean for the global market? August 15, 2025 US President Donald Trump is set to meet with Russian President Vladimir Putin this evening for their first face-to-face meeting in six years. The Ukraine war is set to top the meeting agenda, with the world watching to see if Trump can get his wish to pursue talks on a potential ceasefire and peace deal. [...]
Insurers urged to reassess Russian oil coverage amid UK and EU price cap changes August 14, 2025 An insurance association has urged its members to assess their exposure to Russian oil as the UK and EU prepare to update their oil price cap regimes
Take a stopover in Baku, a boom-town, secular Dubai August 11, 2025 Just 5.5 hours from London, Baku – the oil-rich capital of Azerbaijan – is an easy yet still exciting escape. The city presents a jumble of architecture: futuristic skyscrapers straight out of Tron, formidable Soviet structures, and a 12th century walled old city, a one-time Silk Road stop still peppered with caravanserais, palaces and mosques. [...]
Faberge offloaded by stone miner Gemfields August 11, 2025 Luxury jewellery maker Faberge has been sold by its London-listed owner Gemfields to a tech entrepreneur in a deal worth $50m (£37.2m). The firm, best known for its opulent, ornate eggs, was sold to Sergei Mosunov’s US-based private equity house, SMG Capital, after coloured stones miner Gemfied announced a strategic review of the brand, after [...]
Trump hikes India tariffs to 50 per cent for fuelling Russian ‘war machine’ August 6, 2025 President Donald Trump has imposed an additional 25 per cent tariff on India after the country’s government imported Russian Federation Oil. In an executive order signed on Wednesday, the White House said it would slap Indian imports with the fresh levy taking their overall rate to 50 per cent. The President warned on Tuesday he [...]
‘Publicity stunt’ claims against Shapps as Abramovich ally’s sanctions challenge fails at top court July 29, 2025 Eugene Shvidler claims the Supreme Court rejection of his UK sanctions appeal brings him back to the USSR 36 years after he left 'as a stateless refugee'
Don’t panic: What’s behind markets’ Iran-Israel indifference? June 23, 2025 Commentators have warned that an escalation in the Iran-Israel conflict could set off a chain of events that leads to the outbreak of World War 3. But markets have reacted as if the exchange of air attacks have barely happened at all. Ali Lyon digs into a puzzling few days of equities and oil trading. [...]