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Russia Says Will Not Accept Oil Price Cap

The Russian government has said that it "will not accept" a price cap on its oil. Russia's response came today after the EU reached an agreement on Friday to join the G7 in capping Russian oil imports at $60...

EU Imposes Price Cap on Russian Oil at $60 Per Barrel

This Friday, the European Union (EU) agreed to introduce a price cap on Russian oil. The decision is intended to punish Moscow for the Russian invasion of Ukraine and limit potential profits. The cap will be set at $60 per...

US Eases Oil Sanctions on Venezuela After Humanitarian Deal

The US government has reached an agreement with Venezuela to lift some of its sanctions against the Latin American country. The move will allow Chevron Corporation, an American multinational energy corporation, to resume pumping oil in Venezuela. The move was...

Greek Court Overturns Ruling on Seizure of Iranian Ship

On Wednesday, a Greek court overturned an earlier court ruling allowing for the confiscation of part of an Iranian ship's cargo by the United States. The ship in question is an Iranian-flagged tanker off the Greek coast. The incident had...

Dramatic Scenes as Iran’s Commandos Storm Greek Tanker

Iran released footage of the Revolutionary Guards storming the two Greek oil tankers in the Gulf last Friday in apparent retaliation against Greece's seizure of Iranian crude oil cargo. Armed Revolutionary Guars are seen landing by navy helicopters on the...

EU Agrees on Partial Ban of Russian Oil Imports

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 Seizes Control of Two Greek Ships in Persian Gulf

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...

EU Issues Guidance on Russian Gas Payments in Rubles

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...

EU Plans to Ban Oil Imports from Russia by the End of 2022

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,"...

EU: How to Reduce Your Energy Bills and Dependency on Russia

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...