Biden called the purchase of oil from Russia at reduced prices an alternative to the embargo, and Saudi Arabia outlined one condition for increasing oil production – these and other important news for Thursday morning, June 2, in our daily review.

U.S. President Joe Biden said that it is possible to continue buying Russian oil, but at below-market prices. He said such a possibility, an alternative to an oil embargo, is being discussed with allies in Europe who are going to cut oil supplies from Russia, CNN quoted the president as saying.

Saudi Arabia is ready to increase oil production if Russia’s production drops significantly due to the Western sanctions imposed on it. This is reported by the Financial Times newspaper with reference to five sources familiar with the discussion. At the same time, the Saudi leadership realizes that the market is overloaded and oil prices are at a high level, but they also believe that “there is no real deficit [in the market] yet.”

US video game retailer GameStop has announced that it will launch its own online marketplace for trading non-fungible tokens (NFTs) in the second half of the year. The announcement was made in the company’s earnings report for the quarter ended April 30, CNBC reports.

Ozon was able to reach an agreement with 36% bondholders to suspend demanding full redemption of $750 million in bonds until August 30, 2022, according to a disclosure on the U.S. Securities Commission’s website. Under the terms of the agreement, they will not require forced debt collection.

Production of confectionery in Russia in the first four months of 2022 fell by 3.4% to 1.2 million tons year-on-year, Kommersant reported, citing a presentation by the Ministry of Agriculture. Sweets turned out to be the only category among staple food products where a decrease in output was noted.