The quotas will bring this year's total refined fuel export quotas to 22.5 million tonnes, 39% less than the first three allotments last year

The deal is part of one-year pilot programme to test the new fuel for planes

The US Treasury cracked down on Hong Kong-based Lustro Industry, saying it hid its role in purchases of petrochemical products for delivery to China, plus Triliance Petrochemical

About 2 million barrels of cheap Russian crude oil flowed into China every day in June, according to industry monitors, who said supplies from Africa and the Middle East were being squeezed out

Negotiations with the International Monetary Fund have got more difficult and complicated because the country is bankrupt, the PM told Parliament on Tuesday

Shares in Indian energy firms fell sharply on Friday after Delhi imposed a tax on fuel exports. Reliance sank by 8.7%, while state-owned ONGC and Mangalore Refinery each slumped 10%

The new firm will take over rights and obligations of Sakhalin Energy Investment Co, in which the two Japanese companies and Shell hold just under a 50% stake

A source said the price-per-barrel cap level had not yet been determined, but it would have to be high enough to give Russia an incentive to keep producing oil

China and India have been stocking up on Russian oil, but their actions have undermined efforts by the US and Europe to impose sanctions that limit funds to the Kremlin while it wages war in Ukraine

Britain, the United States, Japan and Canada announced a ban on imports of Russian gold, sales of which totalled $15bn last year, at the start of the G7 three-day summit on Sunday

Beijing's imports of liquefied natural gas (LNG) from the US between February and April plummeted 95% from a year ago

Putin said Russia was discussing increasing the presence of Chinese cars on the Russian market as well as the opening of Indian supermarket Chains.