oil

European Union leaders have agreed on a plan to block more than two-thirds of Russian oil imports after late-night talks at a summit in Brussels. The president of the European Council, Charles Michel, hailed the deal as a “remarkable achievement”,...

Iran took control of two Greek ships in the Persian Gulf on Friday one day after Greece aided the US in seizing a cargo of crude oil from an Iranian oil tanker in the Mediterranean. The country's Revolutionary Guard announced...

The European Union has softened its stance on the purchase of Russian gas and oil, as it released a series of guidelines for European companies to purchase fuel from the country and avoid breaching sanctions on Monday. The bloc proposed...

The EU Commission announced plans on Wednesday to ban the import of oil from Russia by the end of 2022 and to sanction Russians who committed war crimes in Ukraine. "Putin must pay a high price for his brutal aggression,"...

This week, the European Commission and the International Energy Agency outlined a range of simple steps that people and governments can take to reduce energy bills, dependency on Russian energy, and help the environment. According to the plan, if all...

Greece could be sitting on natural gas reserves of more than 600 billion cubic meters, a senior executive of its hydrocarbons commission told Reuters on Thursday. As Greece accelerates gas exploration to cut its reliance on Russian energy, Chief Executive...

Greece's Prime Minister Kyriakos Mitsotakis outlined a six-point plan to deal with Europe's energy crisis earlier this week. In a letter addressed to EU officials, the Greek leader calls for the EU to deal with the economic repercussions of soaring...

Ukrainian President Volodymyr Zelensky spoke before members of the UK Parliament in the House of Commons via live video feed on Tuesday, as the country announced that it would end dependence on Russian oil by the end of 2022. Zelensky,...

The multinational gas company Shell announced on Tuesday that it intends to halt the purchase of Russian oil and gas due to the country's attack on Ukraine. The company will stop purchasing all Russian hydrocarbons, which includes "crude oil, petroleum...

The United States banned Russian oil imports despite that nation warning the world earlier on Tuesday that there may be "catastrophic" increases in oil prices if Western countries ban the imports, as several other nations have proposed to do. Last...