Oil and gas revenues last month amounted to 771.3 billion rubles ($8.6 billion), a significant drop from 945.6 billion rubles ($10.5 billion) in February 2024 and a moderate decrease in comparison to 789.1 billion rubles ($8.8 billion) in January.
Matthias Warnig, who led Nord Stream 2’s parent company on behalf of Kremlin-controlled gas giant Gazprom until 2023, is reportedly trying to establish contact with U.S. President Donald Trump's team through American businessmen.
The EU paid 21.9 billion euros ($22.9 billion) for Russian fossil fuel imports in the third year of Moscow's invasion of Ukraine, exceeding the 18.8 billion euros ($19.6 billion) in financial aid sent to Ukraine that year, according to a new report by the Center for Research on Energy and Clean Air published on Feb. 24.
The EU is also looking to develop renewable energy faster to reduce its overall dependence on the fuel, EU Energy Commissioner Dan Jorgensen said.
Moldovan Prime Minister Dorin Recean said that Tiraspol rejected the EU's financial assistance allegedly due to conditions attached to the aid package. He attributed the decision to Russian influence.
Ukrainian drones attacked energy facilities in Russia's Astrakhan and Volgograd oblasts overnight on Feb. 3, causing a fire, according to local authorities.
Earlier the same day, the Financial Times (FT) reported that EU officials are discussing the possibility of resuming purchases of Russian gas as part of a potential settlement of Russia's war in Ukraine.
Ukraine's Foreign Ministry told media that the Ukrainian, born in 1966, is accused of "threatening the national security" of Slovakia.
The proposal's advocates, including Hungarian and German officials, argue that the move could give both Russia and Europe incentives to maintain a ceasefire while stabilizing the continent's energy market, the Financial Times wrote.
The European Commission will not propose implementing a ban on Russian liquified natural gas (LNG) imports in its upcoming sanctions package amid concern among member states about first securing an alternative from other countries, including the United States, EU diplomats told Reuters on Jan. 29.
Germany's imports of Russian liquified natural gas (LNG) via other EU countries continue to rise despite efforts to cut off direct shipments, the Financial Times wrote on Jan. 28, citing a report by Belgian, German, and Ukrainian NGOs.
"The (European) Commission is ready to continue discussions with Ukraine on the supply to Europe through the gas pipeline system in Ukraine," the statement said.
President Volodymyr Zelensky emphasized that Azerbaijan has significant export capacity, with the ability to send up to 25 billion cubic meters of gas, and that Ukraine can provide the necessary infrastructure to transport it.
Gas deliveries from Russia to Europe persist despite the EU's efforts, and Brussels is determined to halt this, Anna-Kaisa Itkonen, the EU’s spokesperson for energy and housing, said on Jan. 20.
"Our goal is clear — to reopen the door that Robert Fico slammed with his aggressive outbursts," pro-Western opposition leader Michal Simecka said on social media.
The following is the Jan. 15, 2025 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. Metinvest, Ukraine's largest steel producer, said on Jan. 14 that it had suspended operations at the Pokrovsk coking
Russia’s state-controlled energy giant Gazprom halted gas supplies to Moldova on Jan. 1, citing alleged unpaid debts by Moldovagaz.
The development is the latest in an escalating conflict between Ukraine and Slovakia over Kyiv's decision to stop Russian gas transit.
Slovak Prime Minister Robert Fico said he would like to hold a meeting with President Volodymyr Zelensky in Slovakia near the border with Ukraine "as soon as possible." "Okay. Come to Kyiv on Friday," Zelensky responded.
"We offered our assistance to the people of Slovakia during their adaptation to the absence of Russian gas transit, but Fico arrogantly refused," Zelensky said on Jan. 12.
Andrej Danko, co-leader of the delegation, claimed that Warsaw refused to allow their flight to enter Polish airspace and the plane had to be rerouted via Czechia and Germany.
VARNIȚA, Moldova — The buzzing sound of chainsaws and generators is now common in Varnița, a village of 5,000 that borders Moldova's Russian-controlled region of Transnistria. Located next to the Russian-controlled city of Bender (Tighina), the village is subordinated to Chișinău but depends on the neighbouring breakaway region for its
Ukraine’s decision to end the gas transit deal with Russian energy giant Gazprom has been hailed by President Volodymyr Zelensky as one of Moscow’s biggest defeats. "When (Russian President) Vladimir Putin was handed power in Russia over 25 years ago, the annual gas pumping through Ukraine to Europe
Fico said that Slovakia could halt its humanitarian aid to Ukraine, cut or cancel social benefits for Ukrainian refugees, and cease emergency electricity supplies to Ukraine. He also suggested using veto power over EU decisions as leverage against Kyiv.
Ukraine's move will deprive Russia of about $6.5 billion in annual revenue from gas sales to Europe, according to U.S. National Security Council spokesperson John Kirby.
"An important task now is to help Moldova overcome its energy challenges and prevent Moscow from stirring up social tensions. ... We are ready to help," President Volodymyr Zelensky said on Jan. 8.
Ukraine had already decided not to renew its gas transit deal with Russia beyond Dec. 31, 2024, but continues to allow Russian oil transit via the Druzhba pipeline under a contract valid until the end of 2029.
Ukraine initiated the meeting to address Slovak Prime Minister Robert Fico's threats to halt electricity exports to Ukraine and cut support for Ukrainian refugees, Ukraine's envoy to the EU said.
Hungarian Foreign Minister Peter Szijjarto accused Ukraine of exacerbating Europe's economic challenges by halting Russian gas transit, leading to a 20% rise in natural gas prices on the European market.
Some 1,500 high-rise buildings in Transnistria are currently without heating and hot water, and nearly 72,000 homes are without gas.
"Russia is revealing the inevitable outcome for all its allies — betrayal and isolation," Moldovan Prime Minister Dorin Recean said on Jan. 3.
Moldova had previously offered to assist the Russian-occupied region in securing gas via European platforms to mitigate the energy crisis. Transnistrian officials rejected the offer, saying they believe Gazprom will resume Russian gas supplies.
