Russia, the world's second largest oil exporter, is weighing how to respond to U.S. sanctions on top oil firms Rosneft and Lukoil and the prospect of lower sales to its biggest buyer, India.

Hungary remains firm in maintaining its supplies of Russian oil and gas, even as the European Union accelerates efforts to cut Russian energy imports. Prime Minister Viktor Orbán argues what he

Russia's oil and gas revenues are expected to fall by 23% in September year-on-year due to declining international crude prices and a stronger ruble. This decline poses a challenge for Russia's 2026 budget and continued spending on the war in Ukraine.

Russia expects the oil and gas industries' contributions to the national budget this year to drop to the lowest since the pandemic of 2020 after prices for its fuels dipped and the ruble strengthened. The Russian government expects the oil and gas ...

Russia faces a fuel crisis, with gasoline prices rising over 30 percent due to Ukrainian drone strikes on refineries. The economy is slowing, with GDP contracting and inflation nearing 10 percent, prompting higher interest rates. Defense spending remains ...

Despite sanctions from the West, tankers linked to Russia are continuing to leak oil in European waters, polluting the environment and leaving oil slicks near the continent. A joint investigation by the not-for-profit journalism group SourceMaterial and ...

Ukraine has used long-range drone strikes against Russian energy infrastructure to undercut Russia’s economy and try to bring Moscow to the negotiating table.

Russia’s fuel crisis is worsening, and officials are no longer able to conceal the scale of the problem. The Federal Antimonopoly Service has begun issuing warnings to gas station operators across the country over what it calls unjustified price hikes ...

Crude futures are pushing higher on continued Ukrainian strikes against Russian oil facilities and reports that Russia is considering extending fuel export restrictions if necessary to meet domestic needs. "Russian chaos has put a bid in the market today ...

The United States has introduced sanctions against Serbia's main oil supplier, which is controlled by Russia, the company said on Thursday. Serbia almost entirely depends on Russian gas and oil supplies, which it receives mainly through pipelines in ...

The gas is then distributed by Petroleum Industry of Serbia, or NIS, which is majority-owned by Russia's state oil monopoly Gazprom Neft. The sanctions could deprive Serbia of gasoline and heating oil ahead of the winter months.