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Fresh Russia sanctions on hold

Published Thursday, September 11th, 2014

The campaign for Scottish independence intensified yesterday as the leaders of the three major UK political parties made their way up north to plead with the local electorate to stay in the Union. They stressed the economic fallout that secession would bring about and a number of high profile companies lent support to their cause by threatening to relocate parts of their operations south of the border should the ‘Yes’ vote prevail. With just a week to go until the referendum many believe the outcome remains too close to call and the ensuing uncertainties will surely continue to weigh on sentiment.

Conflicting attitudes were also the theme of the latest round of EU talks regarding sanctions against Russia as diplomats once again failed to come to an agreement and will hope for more productive discussions later today. The prospect of tougher sanctions again Russia comes as geopolitical tensions continue to ease with Kiev confirming that the majority of Russian forces have now retreated back across the border. However, the ostensibly benign geopolitical backdrop was dealt a blow after President Obama revealed that he had for the first time authorised airstrikes in Syria as part of a wider escalation against the region’s Islamic militants.

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Posted by Tamas Varga

Tamas Varga has been in the oil industry since 1992 and with PVM for 18 years. During his time in the industry he has gathered a range of experience in the oil markets. At PVM Tamas is in charge of data collection and analysis.