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The U.S. and its European allies are discussing a possible ban of Russian oil imports to tighten the economic squeeze on President Vladimir Putin over the war in Ukraine, Secretary of State Antony Blinken said. President Joe Biden’s administration, wary of pushing up energy prices for Americans, faced further pressure …

Iran’s permanent representative to the Vienna-based International Organization Mohammad Reza Ghaebi said on Sunday that a new report by the IAEA has removed one of the Iranian locations under question from the list of remaining issues. The new report, issued by IAEA Director-General Rafael Grossi, is due to be read …

A new capacity allocation process of 2,787 megawatts in the field of wind and solar energy was completed, head of Turkey’s Energy Market Regulatory Authority (EPDK), Mustafa Yılmaz said Saturday. “We will jointly implement a renewable energy investment of $5 billion in 1.5-2 years at the latest,” he said. A …

A high-ranking Iraqi delegation is due to visit Tehran next week to discuss settling the country’s gas dues and resuming the imports of natural gas from Iran, Iraqi news portal sotalIraq.com quoted the spokesman of Iraq’s Electricity Ministry as saying. As ISNA reported on Sunday, Ahmed Musa said that a …

The director-general of the International Atomic Energy Agency said that the IAEA and Iran are developing a more cooperative relationship in order to resolve what he called open issues with Iran. “We are moving into a more cooperative relationship, things are moving toward a better atmosphere,” he said at the …

Saudi Arabia raised oil prices for all regions after crude surged following Russia’s military offensive in Ukraine to more than $115 a barrel. State-controlled Saudi Aramco increased its Arab Light crude price for next month’s shipments to Asia to $4.95 a barrel above the benchmark it uses. That is an …

Europe is scrambling to reduce its dependence on Russia for energy and bracing for potential disruption to critical natural gas supplies as Russia’s war in Ukraine sends prices to new highs. The Paris-based International Energy Agency said on March 3 that Russian gas imports could be cut by one-third this …

Asian governments are taking measures to soften the impact of escalating oil and LNG prices on their economies and help consumers with subsidies and tax cuts. However, such measures probably won’t be sufficient to offset the sharp increase in energy prices, which is adding to inflationary pressures. Brent crude oil …

Several major oil companies and investors have announced in recent days they are withdrawing from Russian resource development or not pursuing new projects with Russia, including in the Arctic, after Russia’s invasion of Ukraine. BP was the first to announce such plans. On Sunday, the company said that it was …

For years, the U.S. warned Germany of building up a dangerous energy dependence on Russia, the source of more than half of its fossil fuel imports. Now that the war in Ukraine has shocked Berlin into the same conclusion, the government is finding that changing course might be too late. …