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Russian oil exports by destination in 2020. On 7 March 2022, German chancellor Olaf Scholz and other European leaders pushed back against the call by the US and Ukraine to ban imports of Russian gas and oil because "Europe's supply of energy for heat generation, mobility, power supply and industry cannot be secured in any other way".
Major global trading houses plan to reduce crude and fuel purchases from Russia's state-controlled oil companies as early as May 15 to avoid falling foul of EU's financial sanctions on Russia.
The EU has significantly reduced imports of gas from Russia since it launched its full-scale invasion of Ukraine in 2022, but a number of eastern member states still depend largely on the supplies ...
The company, which operates refineries in Lithuania, Poland and the Czech Republic, however, buys crude under previously signed long-term supply contracts with Russia's Rosneft and Tatneft. PREEM
Since the 2022 Russian invasion of Ukraine, the European Union, the G7 nations and Australia have imposed sanctions on Russia.The sanctions on oil began in December 2022 and included an embargo of Russian oil, namely, the bringing of crude oil and refined oil products from Russia to the EU and other G7 nations by ship, with a few exceptions.
From the moment Russia invaded on Feb. 24, the West has sought to hit Moscow's lucrative energy sector to cut off funding for its war. European countries that are even more heavily dependent on ...
The diplomatic standoff arose when on 24 June 2024 [1], Ukraine tightened sanctions, which were imposed on 21 June 2018 [2], against Lukoil — Russia's largest private oil firm — which included a ban Lukoil on oil supplies and the assignment of its contractual obligations to supply oil to Hungary and Slovakia through the Druzhba pipeline to ...
The European Union published plans on Wednesday to end its reliance on Russian gas, oil and coal by 2027, laying out measures to expand renewable energy faster, save more energy and hike imports ...