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.

Turkey hosted a meeting between Moscow and Kyiv negotiators in Istanbul and another between Russian Foreign Minister Sergei Lavrov and Ukrainian counterpart Dmytro Kuleba in Antalya in March. Turkish President Recep Tayyip Erdogan is now trying to pave the way for an Istanbul summit between Russian President Vladimir Putin and...

Turkish President Recep Tayyip Erdogan told Russia's Vladimir Putin on Thursday that Ankara was ready to do more to end the war in Ukraine after helping arrange a Russian-US prisoner swap. The swap took place in Turkey "under the coordination and supervision of the National Intelligence Organization."

NATO member Turkey said it was still talking to Russia about procuring the second batch of one of its most advanced missile defense systems despite the war in Ukraine.

Chanel stores in the UAE reportedly refused to sell products to Russian customers unless they signed a document committing not to use the products in Russia.

Higher-than-expected credit losses and inflation are to blame.

For months, Ukrainian President Volodymyr Zelensky has been asking Western allies for heavy weapons, vowing that his forces could turn the tide of the war with more firepower. The calls appear to be resonating now, with a host of NATO countries pledging to provide a range of heavy weapons and...

Russian President Vladimir Putin congratulated French President Emmanuel Macron on his re-election and defeat of far-right candidate Marine Le Pen, the Kremlin said Monday, as tensions remain over the Ukraine conflict. Macron was one of the few Western leaders to contact Putin since Moscow moved troops into Ukraine.

The United States' top diplomat and defence chief were in Ukraine's capital Sunday, Kyiv said, making the first high-level visit by US officials since Russia invaded two months ago as hundreds remain trapped in the besieged city of Mariupol. The trip by Secretary of State Antony Blinken and Defence Secretary...

Turkey has been trying to negotiate an end to the conflict between the two countries, hosting meetings between Russian and Ukrainian negotiators in its capital Istanbul, as well as a summit between the two countries' foreign ministers in Antalya.

Europe can get by without Russian gas for six months, but beyond that, the economic impact would be severe, a senior IMF official told AFP. The region relies on Russia for the vast majority of its energy needs, especially natural gas, and IMF economists looked at the economic cost of...

Russian forces, which withdrew from around Kyiv and the north of Ukraine earlier this month after being frustrated in their attempts to take over the capital, already occupy much of the eastern Donbas region and the south.

Italy is ethically obliged to stop buying Russian gas "soon" as the payments are funding the Ukraine war, the country's Ecological Transition Minister Roberto Cingolani said in an interview Thursday. The minister is currently on a two-day trip to Angola and Congo Republic seeking energy deals as Italy scrambles to...

President Vladimir Putin said the ‘liberation’ of Mariupol was a ‘success’ for Russian forces, but also ordered Defense Minister Sergei Shoigu to call off the planned storming of the Azovstal industrial area, dismissing it as "impractical". Around 2,000 Ukrainian forces are still in the plant.

European car sales sank in March as Russia's invasion of Ukraine added more problems to a sector already struggling with shortages of semiconductors, industry data showed Wednesday. Passenger car registrations fell 20.5 percent compared to the same period last year, with 844,187 units sold, according to the European Automobile Manufacturers'...

The United States has asked Qatar to supply gas to Europe if Russian supplies were disrupted due to Moscow's military operation in Ukraine and the consequent Western sanctions.

Egypt will import wheat from India to compensate for the loss of wheat supplies from Ukraine and Russia, the north African nation's main sources of wheat. El-Said Marzouq El-Qosair, Egypt’s minister of agriculture and land reclamation, said this comes within the framework of the state’s efforts to secure new sources...

Russian President Vladimir Putin on Saturday, April 16, called Saudi Crown Prince Mohammed bin Salman bin Abdulaziz.

Russia pounded a Ukrainian rocket factory following the sinking of its Black Sea flagship, as President Volodymyr Zelensky said his allies could shorten the war by delivering the weapons he had requested. The Vizar factory, near Kyiv's international airport, was seriously damaged in the overnight strikes, an AFP journalist saw...

France and Algeria have been attempting to improve their ties after a diplomatic crisis.

Russia's Black Sea flagship sank on Thursday after an explosion and fire that Ukraine claimed was a successful missile strike, as the Kremlin accused Kyiv of targeting its citizens in sorties across the border. The Moskva missile cruiser had been leading Russia's naval effort in the seven-week conflict.

The European Space Agency on Wednesday ended cooperation with Russia on three missions to the Moon due to Moscow's invasion of Ukraine, following a previous decision to do the same for a Mars mission. The ESA said it would "discontinue cooperative activities" on Luna-25, 26 and 27, a series of...

The war in Ukraine has "multiplied risks" for the Middle East and North Africa's poorer countries by raising food and energy prices, the World Bank said, warning of potential social unrest. In its latest update the development lender said inflationary pressures set off by Covid-19 "are likely to be exacerbated"...

European Central Bank policymakers meet on Thursday faced with the challenge of threading a response between record-high inflation figures and weak growth due to the war in Ukraine.

President Joe Biden for the first time Tuesday accused Vladimir Putin's forces of committing genocide in Ukraine, where Russia was intensifying its campaign to subdue the devastated port city of Mariupol. Biden's accusation came as Moscow -- already accused by the West of widespread atrocities against civilians -- was feared...

Russia's invasion created a crisis of 'immense proportions' and a 'severe blow' to the global economy. Russia's war in Ukraine could almost halve world trade growth this year and drag down global GDP growth too, the World Trade Organization (WTO) projected Monday. The WTO said that the Russian invasion dealt...

Italian Prime Minister Mario Draghi arrived in gas powerhouse Algeria on Monday as Rome steps up efforts to reduce its heavy reliance on Russian energy imports. Italy buys the vast majority of its natural gas from overseas, with over 40 percent of those imports coming from Russia. But the war...

Swedish firm said it was suspending its operations.

The war in Ukraine has exposed not only Germany's dependence on Russian gas, but also the large share of Russian capital in the country's oil refineries, pipelines and other gas infrastructure. Energy deals with Russia were long seen as part of a German policy of keeping the peace through cooperation...

The PCK refinery in Germany has been processing crude oil from Russia since before reunification, but a looming ban on Russian oil has put its future in doubt.

In a bombed-out building in northwest Syria, rescue workers who for years have braved Russia's war strategies film a tutorial video for Ukrainian volunteers.

Across the MENA region, people are struggling to secure even the most basic staples in view of soaring food and fuel prices triggered by Russia's February invasion of Ukraine.

Evacuations resumed on Saturday from Kramatorsk, in eastern Ukraine, where a missile strike killed 52 people at a railway station a day earlier, as British Prime Minister Boris Johnson became the latest Western leader to visit Kyiv.

Experts say the chances of reforms will remain slim so long as the permanent members refuse to accept any dilution of their power.

Russia denied being behind the missile strike, which came even as European Commission President Ursula von der Leyen and EU foreign policy chief Josep Borrell were visiting Kyiv for talks with Ukrainian President Volodymyr Zelensky and to visit the scene of civilian killings in the town of Bucha.

Russia's invasion of Ukraine sent ‘shocks’ through markets for staple grains and vegetable oils, the UN's Food and Agriculture Organization has said.

Nations and their companies have axed business ties with Russia over Ukraine.

More than 11 million people in Ukraine have been displaced since Russia invaded on February 24, aiming to seize the capital Kyiv. With that goal thwarted, it is instead trying to create a land link between occupied Crimea and Moscow-backed separatist statelets in Donbas.

The European Central Bank has voiced its concern that cryptos can be used to evade Russian sanctions. But, the co-founder and CEO of Binance, the world’s largest crypto exchange by trading volume, said cryptos cannot be used to dodge sanctions.

The United States, in coordination with the G7 and European Union, will ban "all" new investments in Russia on Wednesday in its latest round of sanctions, a source said. The joint measures, in response to Russia's invasion of Ukraine and alleged carrying out of atrocities, "will include a ban on...

The EU is considering to hit Russia with sanctions on oil or coal over the war in Ukraine, a top official said on Tuesday, though some countries remain worried of the potential economic fallout.

The wheat is being procured from Europe, North and South America, and Australia, and will arrive in Saudi Arabia from September to November this year.