Russian gas and oil

Germany and Italy agree to pay for gas in rubles

Germany and Italy agree to pay for gas in rubles

The authorities of Germany and Italy allowed their companies to open accounts in rubles in order to continue paying for Russian gas without violating sanctions against the Russian Federation, Reuters reports, citing sources. According …

Gas supplies from Russia to Finland to be cut starting May 21

Gas supplies from Russia to Finland to be cut starting May 21

Finland's Gasum has informed that imports of natural gas from Russia will be cut on Saturday, May 21, at 7:00 am local time (coincides with Moscow time), according to a respective statement published on the Finnish state-owned gas …

Russia’s gas revenue may top $100 bln - report

Russia’s gas revenue may top $100 bln - report

Russia may receive a record $100 billion for gas supplies to Europe this year against the backdrop of surging prices for the blue fuel, claims a columnist for the French newspaper Les Echos, citing data from Citi analysts. …

EU to map out escape route from Russian fossil fuels

EU to map out escape route from Russian fossil fuels

The European Commission will on Wednesday unveil a 210 billion euro plan for how Europe can end its reliance on Russian fossil fuels by 2027, and use the pivot away from Moscow to quicken its shift to green energy. To wean countries off …

Italy’s Eni ready to pay for Russian gas in rubles - report

Italy’s Eni ready to pay for Russian gas in rubles - report

Italian energy giant Eni SpA is poised to comply with Russian demands and open a bank account in rubles, after the European Union softened its stance in a standoff with the Kremlin over crucial gas supplies. According to people familiar …

EU reaching its limits with anti-Russia sanctions

EU reaching its limits with anti-Russia sanctions

The European Union is reaching its limits with sanctions against Russia, an EU diplomat told EURACTIV after the end of the EU foreign ministers meeting on Monday. “If there was such a mess with Russia’s oil, …

EU develops plan to buy Russian gas bypassing sanctions

EU develops plan to buy Russian gas bypassing sanctions

The European Union has developed a plan to buy Russian gas without violating sanctions. This is reported by Bloomberg, citing sources. According to it, the EU plans to offer gas importers a solution that will allow them to bypass …

Austria tells Gazprom 'use it or lose it' on gas storage

Austria tells Gazprom 'use it or lose it' on gas storage

Austrian Chancellor Karl Nehammer said in a newspaper interview that Russia’s Gazprom had to fill its gas storage capacity at the Haidach plant or make way for others to use it. “We are also looking clearly and decisively at …

Russia to shut Finland off from gas on Friday?

Russia to shut Finland off from gas on Friday?

On Friday, May 13, Russia may stop gas supplies to Finland, the newspaper Iltalehti reports. "Russia may cut off gas supplies on Friday. Key politicians have been warned of Russia's retaliatory actions in connection with …

EU warns of €195bn cost to free bloc from Russian energy

EU warns of €195bn cost to free bloc from Russian energy

The EU will have to spend close to €200bn in the next five years to secure energy independence from Russia, according to draft plans that set out aggressive targets in areas such as clean energy and lowering consumption. A draft of …

Russia reduces gas supplies to Germany

Russia reduces gas supplies to Germany

Russia reduced natural gas supplies to Germany in retaliation over Europe’s penalties, German Economy Minister Robert Habeck said. A unit of Gazprom PJSC that was seized by Germany is no longer receiving all contracted …

EU mulls energy sharing plan

EU mulls energy sharing plan

The European Commission is due to approve an emergency energy sharing plan on May 18 to grapple with a possible abrupt interruption of Russian gas supplies to the bloc, the Spanish newspaper El Pais reported. According to the news …

Austria rejects Russian gas embargo as red line

Austria rejects Russian gas embargo as red line

Austria remains opposed to the idea of a Russian gas embargo, as the move would be a red line for the republic, Austrian Minister for Digital and Economic Affairs Margarete Schrambock said in an interview with the Funke Media Group published on …

Why Armenian currency rises

Why Armenian currency rises

The dram has gained about 15 percent against the dollar in recent weeks, bolstered by an influx of Russians to Armenia and a move to buy gas in rubles rather than dollars