The main events by the morning: December 23

• The 16th package of EU sanctions against Russia. The European Union plans to introduce a new package of sanctions against Russia on February 24. The restrictions will affect sectors of the economy that have not previously been affected or were insufficiently covered by the sanctions regime.

• Sale of the LUKOIL oil refinery. Bulgarian television reported on the plans of the Hungarian company MOL to acquire the Lukoil Neftochim Burgas refinery. MOL participates in the bidding along with six other bidders and is the only representative of the EU. Earlier, the Financial Times mentioned a possible deal between LUKOIL and a Qatari-British consortium.

• The visit of the Prime Minister of Slovakia to Moscow. Slovak Prime Minister Robert Fico visited Moscow in response to Vladimir Zelensky's statement on the termination of gas transit through Ukraine. Fico confirmed Russia's readiness to continue supplies, but stressed that after January 1 it would become almost impossible due to Ukraine's position.

• The growth of gas supplies from Russia to the EU. In November, Russia increased its pipeline gas exports to the EU by 26%, reaching 30.3 billion cubic meters. LNG shipments increased by 18.2%. Since the beginning of the year, Russia's share in EU gas imports has been 18.3% (compared to 14% a year earlier). However, starting in 2025, the situation may worsen due to a possible ban on gas transit through Ukraine.

• Intesa Sanpaolo restrictions for Russian banks. Starting from January 15, 2025, the Italian bank Intesa Sanpaolo will limit payments in euros for Russian banks. The only exceptions are the internal group and Italian banks. The new rules will particularly affect corporate clients, including exporters and importers, complicating calculations and increasing their cost.

• Bitcoin and cryptocurrencies are on the decline. Bitcoin has lost more than 7% in a week, the first decline since Trump's victory. The Fed's cautious policy has dampened optimism around cryptocurrencies. Smaller tokens such as Ether and Dogecoin have fallen by 10%.