FT News Briefing Can Boeing’s move towards the Pentagon solve its problems?
May 23, 2022
Saudi Arabia is reaffirming its support for Russia within Opec+, while concerns grow over the potential negative impact of an EU ban on Russian oil. Boeing's relocation to the D.C. area aims to strengthen ties with the government amid ongoing crises, but reactions from stakeholders have been mixed. Discussions highlight the logistical challenges and price increases expected in the global oil market and the strategic adjustments Boeing must make to revitalize both its defense and commercial sectors.
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EU Ban on Russian Oil
- The former head of Lukoil, Vagit Alekperov, warned against an EU ban on Russian oil.
- He believes such a ban would negatively impact the entire industry and disrupt global logistical flows.
Alekperov's Background
- Vagit Alekperov, the former head of Lukoil, began his career as an oil rig worker in the Caspian Sea.
- He rose through the ranks to become a prominent figure in the Russian oil industry.
Impact of EU Ban
- An EU ban on Russian oil would disrupt global supply chains and necessitate new logistical arrangements.
- This would lead to increased expenses for all parties involved, potentially benefiting China with discounted Russian crude.