The banning of the exportation of oil, gas and chemical services is targeting an industry that accounts for about 50 percent of Russia's federal budget revenues, she said. Since Feb. 24 this year, Canada has imposed sanctions on more than 1,070 individuals and entities from and in Russia,...
RUSSIAN budget revenues from oil and gasrecovered last year to the same level they hadbeen at in 2021, prior to the war in Ukraine,at least according to an expectation made byDeputy Prime Minister Alexander Novak onDecember 28.The Russian government is yet to publish itsfull budgetary results...
Earlier Wednesday, Hungarian chief of diplomacy Peter Szijjarto affirmed the Hungarian position against sanctioning Russian energy companies, as Hungarian economy, along with other EU countries, relies heavily on Russian oil and gas. Hungary does not support any sanctions on Russian energy shipments as...
President's announcement Tuesday that the relatively small scale of Russian oil in America made it more likely for the U.S. to move on its own to penalize Russian energy, imposing oil-related sanctions that the European Union, which is much more dependent on Russian oil and gas, could join...
Russia is now demanding all "unfriendly nations" pay for Russian gas imports in rubles. This has presented a problem for Hungary, as Prime Minister Viktor Orban said Russian gas is needed to keep Hungary's economy functioning. Orban opposed placing sanctions on Russian energy, saying...
TEHRAN, May 09 (MNA) – Austrian Foreign Minister Alexander Schallenberg turned down imposition of sanctions on Russian gas and also North Atlantic Treaty Organization (NATO)’s membership. Austrian Foreign Minister Alexander Schallenberg explained that imposing an embargo on Russian gas in Austria wou...
After Russian oil output declined by almost 9.0% last month from March levels to just 9.160MM b/d, over 1.000MM below its OPEC+ production quota of 10.436MM b/d for the month as producers have had to shut in wells due to tightening Western sanctions on the country following its invasion...
Unlike the oil industry, however, Russia’s gas industry has always been perceived as having little reliance on foreign partnerships in upstream production. But while Russia has sufficient, and even exportable, skills in onshore gas production, it is the offshore projects that struggle from lack ...
President Joe Biden has banned imports of Russian oil and gas into the US as Washington steps up economic sanctions on Moscow over the invasion of Ukraine in an attempt to deprive it of revenue. The move was matched by a UK phase-out of Russian oil imports, but the EU did not follow s...
Oil and natural gas companies are a crucial part of Russia's economy and vital to its energy sector. The country has some of the largest multinational oil and gas companies in the world because it also has some of the largest known reserves. Russia had 80 billion barrels of proved reserves...