VENTURE CAPITAL POST

Russia is reportedly considering Kazakhstan as a potential source of gasoline in the event of shortages aggravated by Ukrainian drone attacks on oil refineries.

The US and South Korea have set up a new task force to prevent North Korea from obtaining illegal oil.

In another sign of warming ties between the two countries, Russia has reportedly begun supplying oil directly to North Korea in defiance of sanctions imposed by the United Nations (UN).

Ukraine has reportedly deployed 35 drones to target various locations in Russia, resulting in a fire at an oil refinery and disruptions to electricity supplies in border areas.

A memorandum of understanding was signed by two statesmen of India and Russia. PM Modi and President Putin had made a deal on mutiple sector projects.They had inked the 16 agreements on Saturday.

The Pentagon on Tuesday unveiled its plan to boost spending in defense mechanism in 2017, aiming to increase its military capability to back its European NATO allies. The US Defense Department requested a budget seeking 7.5 billion US dollar for operations in Syria and Iraq for the year 2017.

Russia announced that it would lift its oil exports in Asia and consequently decrease the distribution for Europe.

A Russian state firm has offered to buy BP's half share in its huge oil joint venture.