Russia's war against Ukraine has exposed our European dependency on Russian fossil fuels, and we want to get rid of this dependency," European Commission President von der Leyen said.

Russia's Gazprom told Eni it would cut its gas supply by around 15 percent for Wednesday, the Italian energy giant said, amid tensions between Moscow and the West following its invasion of Ukraine. "Eni confirms that Gazprom has announced a limited reduction in gas supplies for today, amounting to around...

Demand is set to grow to 101.6 million barrels per day in 2023, according to the IEA, which advises developed countries on energy policy.

The painful combination of chronic 1970s-style inflation and a shrinking economy means that you might need to rebalance your investments, warns Nigen Green, the CEO of deVereGroup, an independent financial advisory, asset management and fintech organization. The warning from Green comes as global stock markets are tanking as investors fret...

The European Union wants to strengthen its energy cooperation with Israel in light of Russia's use of gas supplies to "blackmail" its members over the Ukraine conflict, the European Commission chief said Tuesday. Ursula von der Leyen's remarks came as Italian Prime Minister Mario Draghi, also visiting Israel, said Rome...

The WTO is hoping to keep criticism of Russia's war in Ukraine to the first day of talks, when many of the more than 100 ministers due to attend are expected to issue blistering statements.

The US fast-food giant announced on May 16 that it would exit Russia in the wake of its Ukraine offensive.

Iran and Venezuela signed a 20-year deal on cooperation between the two countries in various sectors including energy, financial and defense

Iran already announced it had disconnected some International Atomic Energy Agency cameras monitoring its nuclear sites in anticipation of the watchdog's adoption of the Western-drafted censure motion Wednesday.

The company's net profit increased by 80 percent

The country is among the countries most vulnerable and poorly prepared for climate change, which is forecast to worsen.

Trucks loaded with humanitarian aid queue bumper-to-bumper amid the olive groves at the Turkish-Syrian border, waiting to be allowed across into war-torn Syria. Inside are baby nappies and blankets, but also 15-kilo (33-pound) bags of flour, bulghur wheat, sugar, chickpeas and peanut-based pastes for children suffering from malnutrition. Each month...

Iran's supreme leader on Saturday said that the country's seizure of two Greek oil tankers late last month was in retaliation against Greece because it "stole" Iranian oil. The Revolutionary Guards boarded and took control of the two vessels in the Gulf on May 27, citing "violations", which Greece condemned.

Major oil producers led by Saudi Arabia and Russia on Thursday decided to open taps wider than expected amid soaring prices and hard on the heels of an EU ban on Russian oil imports. Analysts had expected OPEC+ producers to stick to their policy of modest output increases, as they...

Major oil producers led by Saudi Arabia and Russia hold talks Thursday on whether to adjust output, hard on the heels of an EU ban on Russian oil imports. Analysts had expected OPEC+ producers to likely stick to their policy of only increasing output modestly, as they have done since...

European Union leaders agreed on Monday to ban more than two-thirds of Russian oil imports as part of the sixth package of crippling sanctions on Moscow. Media reports said OPEC was considering whether to remove Russia from an agreement that has locked producers into limited output increases.

Iraq's State Organization for Marketing of Oil (SOMO) has said it approached France about the possibility of Iraq's supplying the European market with oil. The Organization's General Manager Alaa Al-Yasiri said that French parties concerned with the possibility of being supplied with oil have been addressed but gave no further...

The planned delivery of new US weapons to Ukraine, including advanced missile systems, increases the risk of drawing the United States into direct conflict with Russia, Moscow said Wednesday. On Tuesday, Washington said it will be supplying Ukraine with advanced missile systems, including the Himars multiple-launch rocket system.

Russia's invasion of Ukraine has put financial markets under renewed stress by driving up prices and impeding growth, the European Central Bank said in a report. The war has "increased financial stability risks through its impact on virtually all aspects of economic activity", ECB vice-president Luis de Guindos said in...

The Polish president warned of a crisis if Ukraine is unable to export grains to North Africa and other countries. He said Ukraine accounts for 80 percent of Egypt's grain needs.

Appearing by video link, Zelensky delivered the headline speech to the first World Economic Forum to be held in the Swiss Alps in more than two years after the Covid pandemic derailed the event. The war is dominating the four-day meeting of the world's business and political elite.

Mitigate the carbon footprint of every other alternative energy that we’re going to develop, says Occidental Petroleum chief Vicki Hollub at the World Economic Forum in Davos.

The United States gave its full support Wednesday for Sweden and Finland's bids to join NATO, promising to stand by them if threatened by Russia and pressing Turkey to not block their membership. Hours after the two Nordic countries formally submitted their applications to enter the Atlantic alliance, President Joe...

Saudi Arabia may see a rise in inflation as global food and energy prices surge amidst the ongoing Russia-Ukraine war, Alexander Perjessy of Moody’s Investors Service tells TRENDS.

Qatar on Wednesday said it plans to invest an additional $5 billion in Spain on the second day of a state visit by its emir, Sheikh Tamim bin Hamad Al-Thani. "The volume of investments agreed upon with the Spanish side amounts to $5 billion in various sectors," said Qatari Foreign...

Qatar's emir began a state visit to Spain on Tuesday as Europe seeks to diversify its natural gas supply sources to reduce its energy dependence on Russia. Sheikh Tamim bin Hamad Al-Thani was welcomed by King Felipe VI at Madrid's royal palace at the start of his two-day visit, his...

Wheat prices surged to a new record high on Monday after India decided to ban exports of the commodity as a heatwave hit production. The price jumped to 435 euros ($453) per tonne as the European market opened. Global wheat prices have soared on supply fears since Russia's February invasion...

Iran is considering the possibility of exporting gas to Europe, an oil ministry official said Sunday against the backdrop of soaring energy prices due to Russia's war in Ukraine. "Iran is studying this subject but we have not reached a conclusion yet," deputy oil minister Majid Chegeni was quoted as...

The Group of Seven industrialized nations said Saturday they would never recognize the borders Russia is trying to shift by force in its war against Ukraine and pledged enduring support for Kyiv. The ministers were joined in the resort of Wangels by their counterparts from Ukraine and Moldova.

Washington is "working to clarify Turkey's position" after President Recep Tayyip Erdogan expressed opposition to Finland and Sweden joining NATO, White House spokeswoman Jen Psaki said Friday. The idea of the two nations becoming members of the transatlantic alliance had received "broad support from NATO member countries," Psaki said.

Finland took a step Thursday towards fast-track NATO membership, triggering a blunt warning from the Kremlin, as the war in Ukraine throttled supplies of Russian gas to Europe and the number of people who fled the country passed six million. In Geneva, the UN Human Rights Council decided to probe...

The IEA said "steadily rising" output from the United States and Middle Eastern members of the OPEC+ oil cartel will help offset losses from Russia.

The sanctions include a ban on transactions and the entry into Russian ports of vessels linked to the affected companies.

Russian Foreign Minister Sergei Lavrov visited gas-producing ally Algeria for talks Tuesday as a European drive to secure alternative supplies gathers pace. Lavrov, who arrived in Algiers late Monday, was due to hold talks with both Foreign Minister Ramtane Lamamra and President Abdelmadjid Tebboune, Algerian reports said. His visit is...

The embargo on Russian oil, which is part of a sixth package of EU sanctions under discussion, is being resisted by some member states that rely on Russian oil to keep their economies running and are seeking guarantees of alternative sources.

President Joe Biden was clear from the moment he entered office -- China is the main international competitor and should be the top concern for US foreign policy. Then Russia invaded Ukraine. After months devoted to supporting Ukraine and punishing Russian President Vladimir Putin, Biden is shifting focus back to...

The G7 club of wealthy nations committed Sunday to phasing out its dependency on Russian oil and issued a scathing statement accusing President Vladimir Putin of bringing "shame" on Russia with his invasion of Ukraine. The statement from the Group of Seven -- France, Canada, Germany, Italy, Japan, Britain and...

Ukrainian President Volodymyr Zelensky said that hundreds of people had been removed from the Azovstal steel plant in Azov, and that preparations for a second stage of evacuation comprising the wounded and medics were under way.

The traditional parade of the Russian Black Sea fleet on May 9 this year will be held near Snake Island -- at the bottom of the sea," the Ukraine's defense ministry added

World food prices fell slightly last month after hitting a record in March but remain high due to the Ukraine war, the UN's Food and Agriculture Organization said Friday. International sanctions against Russia as well as export flow disruptions resulting from the February 24 invasion have sparked fears of a...

The Russian military had announced a three-day ceasefire at the site starting on Thursday, but a Ukrainian commander said there was still heavy fighting at the sprawling Azovstal complex, where hundreds of soldiers and civilians have been holed up for weeks under heavy bombardment.

Saudi Arabia, Russia and other key producers agreed to adjust upward the monthly overall production by 0.432 mb/d for the month of June. Prices had soared on Wednesday, with Brent North Sea crude closing above $110 a barrel.

The announcement came on the 70th day of Moscow's military action in the pro-Western country.

European officials were preparing a new package of sanctions Tuesday to punish Russia for its invasion of Ukraine, but some members are jockeying to opt out of an oil embargo. Several EU officials and European diplomats in Brussels told AFP that they expected the European Commission to hand over the...

A Russian carmaker has asked Iran to supply it with key components it cannot access due to Western sanctions imposed after the invasion of Ukraine, Tehran's state media reported. Hossein Bahrainian, from the Iranian Auto Parts Makers Association, said a Russian automaker had enquired about purchasing parts, without specifying the company by...

The European Union warned member states Monday to prepare for a possible complete breakdown in gas supplies from Russia, insisting it would not cede to Moscow's demand that imports be paid for in rubles. The European Commission will on Tuesday propose to member states a new package of sanctions to...

Nigeria and Morocco are still securing funding for a huge pipeline project that aims to carry Nigeria's gas to North Africa and onto European markets, the country's petroleum minister said on Monday. Africa's gas supplies are increasingly in the spotlight as the European Union looks to wean itself off Russia's...

The United States has been warning that Russia is preparing to formally annex regions in Ukraine’s east, while the European Union has told member states to brace for a complete breakdown in Russian gas supplies as it prepared a new package sanctions.

European Union ministers met Monday to respond to Russia cutting gas supplies to Poland and Bulgaria -- and discuss plans for a possible oil embargo to punish Moscow for invading Ukraine. The energy ministers from the 27 member states were coordinating efforts to counter what Brussels has branded the Kremlin's...

Finnish-led consortium Fennovoima said on Monday it has terminated a contract with Russian group Rosatom to build Finland's third nuclear power plant, citing risks linked to the Ukraine war.