Tag Archives: European Union (EU)

The European Union has started drafting its proposal for an embargo on Russian oil imports as its latest response to the war in Ukraine, the New York Times reported, citing Brussels officials and diplomats. The embargo will most likely be introduced in a gradual way, similar to the planned Russian …

The leaders of the European Union member states are expected to discuss at their summit at the end of May the idea of jointly buying natural gas to avoid competing with each other for non-Russian supply as the EU seeks to cut its dependence on Moscow, Bloomberg reported on Thursday, …

The EU’s fifth round of sanctions against Russia following the its attack on Ukraine will hit hard on the country’s energy industry. Among the points in the restrictive measures is an export ban on goods such as quantum computers and advanced semiconductors, high-end electronics, software, sensitive machinery and transportation equipment. …

OPEC told the European Union on Monday (11 April) that current and future sanctions on Russia could create one of the worst ever oil supply shocks and it would be impossible to replace those volumes, and signalled it would not pump more. European Union officials held talks in Vienna with …

Hungary can pay for Russian natural gas without violating European Union sanctions against Russia, Foreign Minister Peter Szijjarto said in a Facebook post in response to a warning from European Commission President Ursula von der Leyen. Earlier this week Premier Viktor Orban said Hungary was ready to pay for Russian …

Egypt and the European Union will enhance cooperation in energy, the Egyptian cabinet said after a meeting between Prime Minister Mostafa Madbouly and Frans Timmermans, the EU’s climate chief, in Cairo. The delegations discussed the potential supply of liquefied gas to Europe through regional partnerships in the short term, and …

Over the past week, the world saw three major developments in the oil industry directly linked to the interests of three powers. Each wanted to push their own agenda and which is heralding successive changes in global relations and alliances. The developments came in the form of a three-act play …

European Union countries are wrangling over how to rapidly fill their gas storage ahead of next winter and share the burden of quickly buying large stocks at current sky-high prices. Europe is facing a race to build a buffer of stored gas ahead of winter, to help cope with potential …

Russia’s latest gambit in the Ukraine conflict is to open a currency war with the West. Vladimir Putin’s declaration that Russia will only accept roubles as payment for natural gas bought by ‘unfriendly’ countries is the latest salvo in the long-running attack by Russia and China on the petrodollar system. …

EU leaders failed on Friday to agree a short-term solution to the energy market crunch made worse by Russia’s invasion of Ukraine, but did offer a compromise for Spain, where increasing fuel prices prompted 12 days of blockades by lorry drivers. A debate on whether to cap energy prices, pitting …