The European Commission plans to begin drafting new sanctions against Russia next week, with the goal of approving the package on Feb. 24 — the third anniversary of Russia's full-scale invasion of Ukraine.
A drone strike reportedly hit the Taneko oil refinery in Tatarstan, Russian Telegram channel ASTRA reported on Jan. 11.
"The United States is taking sweeping action against Russia's key source of revenue for funding its brutal and illegal war against Ukraine," Treasury Secretary Janet Yellen said.
The oil spilled into the Black Sea by two Russian tankers last month could soon reach Ukraine's southern coast in the Mykolaiv and Odesa oblasts, Navy spokesperson Dmytro Pletenchuk said on air on Jan. 9.
Ex-President Petro Poroshenko and members of his European Solidarity opposition party submitted a bill on Jan. 7 banning the transit of Russian oil and gas through Ukraine's territory during martial law.
The operation, carried out jointly by Ukraine's military intelligence, the Unmanned Systems Forces, and other units, targeted the Kristal Plant used to supply fuel to the nearby Engels-2 airbase, the military said.
Shandong Port Group has prohibited U.S.-sanctioned tankers from accessing its ports in the eastern Chinese province, three traders familiar with the issue told Reuters. This region, home to many independent refiners, is a significant importer of oil from countries under U.S. embargoes.
The U.S.'s planned sanctions would aim at targeting tankers carrying Russian oil above the imposed price cap and individuals working in schemes to sell crude above the cap, Reuters reported.
The amount of oil spilled in the Kerch Strait by two Russian oil tankers is "significantly less than the initial estimate," Russia's Transport Ministry claimed on Jan. 2.
Authorities estimate the tankers were carrying 9,200 tons of fuel oil, of which approximately 40% potentially leaked into the sea. Kremlin spokesperson Dmitry Peskov described the situation as "truly critical."
Oryol Oblast Governor Andrey Klychkov claimed that Russian forces downed 20 drones over Oryol Oblast targeting fuel and energy infrastructure facilities.
Russian and Kazakh oil shipments to Hungary, Slovakia, the Czech Republic, and Germany via the Druzhba pipeline have been halted since Dec. 19 due to technical issues at a Russian pumping station, Reuters reported, citing anonymous sources.
Shares of Russian gas giant Gazprom fell to their lowest level since January 2009, The Moscow Times reported on Dec. 17.
The United Kingdom sanctioned 20 vessels of Russia’s "shadow fleet" and pledged 35 million pounds ($44 million) in aid to repair Ukraine’s energy grid, the British government said on Dec. 17.
The two tankers, which reportedly sank on Dec. 15 due to severe weather conditions, were carrying approximately 4,000 tons of fuel oil on board each.
Austrian oil and gas company OMV has terminated its long-term gas supply contract with Russia's Gazprom Export, the OMV website reported on Dec. 11.
Although no concrete decisions have been made on the potential sanctions, sources familiar with the discussions told Bloomberg that a number of avenues are being explored, including sanctions on Russia's so-called 'shadow fleet.'
Supply to customers was not affected by a leak on one of the branching pipes of the Russian Druzhba pipeline in Poland, the Polish operator Pern said in a statement on Dec. 1.
The United Kingdom sanctioned 30 oil tankers of Russia's "shadow fleet" that carried billions of dollars worth of oil and oil products last year, the government said on Nov. 25.
Hungary criticized U.S. sanctions on Gazprombank, stating that they pose a threat to the energy security of Central European countries, Foreign Minister Peter Szijjarto said in a statement on Nov. 22.
Key developments on Nov. 22: * Russia likely used ballistic missile from 'Kedr' complex to strike Dnipro, intelligence says * Russia plans to launch mass production of Oreshnik missile, Putin says * North Korea received anti-aircraft missiles, oil from Russia in exchange for troops, reports say * Russia has deployed nearly 60,000 troops
Ukrnafta, a state-owned oil and gas extraction company that is a subsidiary of Naftogaz, has bought a 51% stake in Shell's gas station network in Ukraine, the press service of Naftogaz reported on Nov. 19.
At least three Russian oil refineries have been forced to halt or scale back production due to significant losses and now face the risk of closure, Reuters reported on Nov. 15, citing five undisclosed sources.
Private Chinese oil refinery Landbridge Petrochemical Co. has made a rare purchase of a shipment of West African oil instead of typical import from sanctioned Iran and Russia, Bloomberg reported on Nov. 14.
The United Kingdom has been unable to retrieve its weapons from floating armories offering weapons and accommodation for guards defending Russian oil tankers, Bloomberg reported on Nov. 5.
The European Union’s anti-fraud agency opened an investigation into the possible exporting of rebranded Russian oil via Turkey into the EU, Politico reported on Nov. 5, citing two undisclosed sources.
A drone struck in the Michurinsky district of the region at around 0:40 a.m. local time, causing a fire that was quickly extinguished, Governor Maxim Egorov said on his Telegram channel.
Saudi Arabia’s planned oil production hike may not break Russia’s petro-export-fueled economy, but escalations between Israel and Iran could be a gold rush for Moscow. Since late 2022, the OPEC oil cartel, of which Russia is a member, has withheld oil production and exports to prevent a surplus
Russia's "shadow fleet" of older and poorly insured tankers transports 70% of the country's seaborne exports, according to an analysis published by the Kyiv School of Economics (KSE) Insititute on Oct. 14.
Ukrainian troops in cooperation with the intelligence service (HUR) struck a depot containing oil and petroleum products used by the Russian military near the town of Rovenky, Luhansk Oblast.
Key developments on Oct. 4: * Oil depots on fire in Russia's Voronezh Oblast, Perm Krai * Russian forces less than 7 km away from Pokrovsk, authorities say * At least 177 Ukrainian POWs have died in Russian captivity, Kyiv says * EU readies to sanction Iran over missile shipments to Russia, Bloomberg reports
Russia is greatly reliant on oil and gas exports, which have represented almost one-third of the country's total federal revenue in 2023 and 42% in 2022. Fossil fuel profits thus play a key role in funding Russia's expensive war machine in Ukraine.
