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Oil prices change little as investors eye impact of new sanctions on Russia
Reuters SINGAPORE
Oil prices barely budged on Monday as traders eyed the impact of new European sanctions on Russian oil supply, rising output from Middle East producers and concerns about fuel outlook as tariffs weighed on global economic growth.
Brent crude futures rose 5 cents to $69.33 a barrel by 0040 GMT after settling 0.35% lower on Friday. US West Texas Intermediate crude was at $67.36 a barrel, up 2 cents, following a 0.30% decline in the previous session.
The European Union approved on Friday the 18th package of sanctions against Russia over the conflict in Ukraine, which also targeted India's Nayara Energy, an exporter of oil products refined from Russian crude.
Kremlin spokesperson Dmitry Peskov said on Friday that Russia had built up a certain immunity to Western sanctions.
Rosneft, Russia's biggest oil producer with a stake in Nayara, on Sunday criticised the sanctions as unjustified and illegal, saying the restrictions directly threatened India's energy security.
Iran, another sanctioned oil producer, is due to hold nuclear talks in Istanbul with Britain, France and Germany on Friday, an Iranian Foreign Ministry spokesperson said on Monday. That follows warnings by the three European countries that a failure to resume negotiations would lead to international sanctions being reimposed on Iran.
In the US, the number of operating oil rigs fell by two to 422 last week, the lowest since September 2021, Baker Hughes said on Friday.
Separately, US tariffs on imports from the European Union are set to kick in on August 1, although US Commerce Secretary Howard Lutnick said on Sunday he was confident the United States could secure a trade deal with the bloc.
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Business Standard
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Nayara Energy moves Delhi HC against Microsoft for suspending key services
Indian oil refining and marketing company, Nayara Energy, which is backed by Russian investment, has taken legal action against Microsoft. The company said the US-based tech firm had abruptly and unilaterally suspended essential services without any prior warning. "Microsoft is currently restricting Nayara Energy's access to its own data, proprietary tools, and products --despite these being acquired under fully paid-up licences," stated Nayara. Petition filed in Delhi HC The company has filed a petition in the Delhi High Court. It is seeking an interim injunction and immediate restoration of services to protect its rights and ensure continued access to important digital systems. According to Nayara, Microsoft did not discuss or notify the company before cutting off services. "This action has been taken unilaterally, without prior notice, consultation or recourse, and under the guise of compliance," the statement added. Sanctions lead to disruptions Nayara, which purchases large volumes of Russian oil, was recently sanctioned by the European Union. The company is mostly owned by Russian entities, including oil giant Rosneft. Although the sanctions are from the EU, Nayara claims that Microsoft -- a US-based firm -- is not legally required to enforce them under American or Indian law. Despite this, sources said Microsoft suspended Nayara's services last Tuesday. Since then, email accounts and Teams access for Nayara employees have been unavailable. Microsoft has not commented on the matter. Following the sanctions, at least two ships avoided loading refined products from Nayara's Vadinar facility. One crude tanker carrying Russian Urals was also diverted. In addition, Nayara's CEO resigned and was replaced by Sergey Denisov. Key role in India's energy sector Nayara Energy highlighted its important role in India's fuel economy. The company contributes around 8 per cent of the country's refining capacity and 7 per cent of its petrol pump network. It is also developing about 8 per cent of India's polypropylene capacity. While facing these challenges, Nayara said it remains committed to maintaining uninterrupted supply across India. Focus on domestic market and growth Operating under the motto 'In India, for India', Nayara mainly serves the domestic market through retail outlets, institutional sales, and partnerships with other oil marketing companies. The company is also investing in petrochemicals and clean energy, generating thousands of jobs. Nayara added that it complies fully with Indian regulations and continues to work closely with Indian authorities to maintain transparency and accountability.
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No escort, no dignitaries: EU leaders made to travel by bus in Beijing for meeting with Xi Jinping
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Time of India
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Pro-Ukraine hackers claim responsibility for shutdown Compromised more than 7,000 servers Gained access to confidential documents, including internal memos and flight records Extracted sensitive customer and operations data Destroyed core IT infrastructure to prevent recovery Live Events Russian authorities confirm cyberattack and launch criminal investigation Passengers left without refunds or assistance amid chaos Leave Sheremetyevo Airport to avoid overcrowding to avoid overcrowding Contact Aeroflot's hotline or rebooking agents within the next 10 days within the next 10 days Submit refund and rescheduling requests online or through their original purchase channels Hacker group claims destruction of airline's core systems Broader cybersecurity implications amid Russia-Ukraine conflict Russia's civil aviation sector is now an open target Hybrid warfare now includes digital attacks meant to destabilize civilian logistics now includes digital attacks meant to destabilize civilian logistics International carriers may soon need to upgrade airline cybersecurity protocols Aeroflot's ongoing crisis and uncertain recovery timeline What travelers need to know moving forward Check your flight status using alternate flight-tracking platforms using alternate flight-tracking platforms Contact Aeroflot's helpline or customer portal for refunds or rebooking or customer portal for refunds or rebooking Keep documentation such as tickets and receipts for refund eligibility such as tickets and receipts for refund eligibility Avoid heading directly to the airport unless your flight is confirmed Expect delays even after service resumes due to backlogged operations Cyberattacks now pose a real threat to global air travel FAQs: (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Russia's national airline, Aeroflot, faced major flight cancellations on Monday, July 28, 2025, after a sudden information systems failure crippled its internal operations. The disruption led to the cancellation of more than 40 domestic and regional flights, primarily from Moscow's Sheremetyevo International Airport, leaving hundreds of travelers stranded amid the busy summer travel to reports, 42 to 49 flights were grounded, affecting destinations like Yekaterinburg, Kaliningrad, Grozny, Minsk, and Yerevan. Departure boards turned red as long queues formed, and passengers were advised to leave the airport due to system-wide after the breakdown, pro-Ukrainian hacker group Silent Crow, in collaboration with Belarusian cyber-activists Cyber Partisans BY, claimed responsibility for the attack. They announced the operation as part of a broader digital offensive against Russian infrastructure in response to the ongoing conflict in a bold statement, the group claimed they had been inside Aeroflot's internal network for over a year, during which they:These claims are still being independently investigated, but the scale of the alleged breach has raised serious concerns over Russia's cybersecurity Russian Prosecutor General's Office confirmed the Aeroflot system failure was caused by unauthorized access. In response, officials opened a criminal case under the charge of illegal access to computer information systems. The probe is being handled by Russia's cybersecurity and intelligence spokesperson Dmitry Peskov addressed the media, describing the cyber breach as 'deeply alarming' and warned that state-affiliated companies are increasingly becoming targets in cyberwarfare linked to geopolitical system failure had a direct impact on Aeroflot's customer service platforms, including ticketing, boarding, and refund processing. Many passengers were told that ticket counters could not process cancellations or travelers were instructed to:This left hundreds of frustrated passengers, many with children and luggage, scrambling to adjust their travel plans without any on-site support—highlighting Aeroflot's poor crisis management Crow released a detailed explanation of the operation, alleging that they not only infiltrated but also destroyed Aeroflot's entire server infrastructure, including its SAP management systems, staff scheduling, and communications also claimed the deletion of critical internal files and the encryption of backup systems, making data recovery nearly impossible. Screenshots shared by the hackers—though not yet authenticated—showed internal messages, flight manifests, and system logs as proof of the analysts say this may be one of the most damaging cyberattacks on a commercial airline in recent attack is the latest in a growing list of cyber incidents targeting Russian digital infrastructure, often attributed to pro-Ukrainian digital resistance groups. Since the 2022 invasion of Ukraine, energy providers, rail services, government portals, and even banks in Russia have been warn that:Cyberwarfare has become a new battlefield in the Russia-Ukraine conflict, with major ripple effects on public safety, economic systems, and global stated that technical specialists are working around the clock to restore operations but did not give a timeline for full recovery. Online services remained intermittently down as of late July has been no formal acknowledgment of the hacker claims by the airline, though internal investigations are reportedly underway. Data breach reports and internal sabotage are still being now, travelers are advised to check Aeroflot's official channels and airport announcements for updates. Delays and possible rolling cancellations may continue over the next few you were impacted by the Aeroflot cancellations, here's what to do:The Aeroflot incident underscores a new global reality: airlines are becoming high-value targets in geopolitical cyber conflicts. As travel rebounds post-pandemic, ensuring airline IT infrastructure is secure, redundant, and resilient is more critical than latest disruption adds urgency to the global push for better cybersecurity protocols across aviation networks, especially in regions impacted by military conflict.A cyberattack crippled Aeroflot's internal IT systems, causing over 40 flight cancellations.A pro-Ukraine hacker group named Silent Crow claimed responsibility for the Aeroflot cyberattack.
