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Stay updated with the latest oil news as EU experts arrive in Ukraine to assess the "Druzhba" pipeline. Hungarian PM Viktor Orbán emphasized Hungary's support for Ukraine contingent upon the pipeline's restoration. In Russia, a significant fire has ravaged an oil depot in Labinsk. Romania urges the EU to apply more pressure on Russia, which continues to profit from oil despite international sanctions. Meanwhile, Zelenskyy criticizes the US for easing oil sanctions, potentially benefiting Russia financially. As oil prices surge globally, discussions on sanctions continue to dominate international relations. Stay informed on these impactful developments shaping oil markets in 2026.

What is the current state of the "Druzhba" oil pipeline?

EU experts are in Ukraine to inspect the "Druzhba" oil pipeline. This assessment comes amid discussions of support for Ukraine, with Hungary's Prime Minister stating aid depends on the pipeline's restoration.

Why is Hungary linking support to Ukraine with the "Druzhba" pipeline?

Hungary's Prime Minister Viktor Orbán has stated that support for Ukraine hinges on the restoration of the "Druzhba" oil pipeline, highlighting its significance for Hungary's energy supply. Without this pipeline operational, debates around aid and support remain unresolved.

What impact has the fire in Labinsk, Russia had on the oil industry?

The extensive fire at the Labinsk oil depot in Russia has resulted in dozens of fuel tanks burning, potentially disrupting regional supplies. This incident adds to the tension in the global oil market, which is already strained by geopolitical conflicts.

How are EU countries addressing Russia's oil revenue gains?

Romania is calling for increased EU pressure on Russia due to its continued revenue from oil sales. This call to action comes as preparations for a new round of sanctions are underway, aiming to curb Russia's financial benefit from oil amid ongoing conflicts.

What are Zelenskyy's concerns with lifting oil sanctions on Russia?

President Zelenskyy has expressed concerns that easing oil sanctions on Russia would directly fund the war effort, including the production of drones potentially used against international allies. He argues that such actions would empower Russia financially.

How is the US involved in the current oil sanctions discussions?

The US has partially eased sanctions on Russian oil, sparking criticism from Ukraine's President and highlighting a divide in approach. While the overall sanctions remain, specific allowances have been made, such as permitting India to purchase Russian oil.

What are the effects of recent geopolitical tensions on global oil prices?

Geopolitical tensions, particularly the escalation in the Middle East, have caused global oil prices to rise sharply, surpassing $100 per barrel. This price surge impacts economies worldwide, prompting discussions on energy policy and market stability.

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News oil

New US sanctions against Russia US to impose new sanctions on Russia’s energy sector if Putin rejects peace deal - Bloomberg The US is preparing a new package of sanctions against Russia's energy sector to increase pressure on Moscow if dictator Vladimir Putin rejects a peace agreement with Ukraine. 3 834 19 Previously in trend: Sanctions against Russia

European Commission to unveil proposal to ban all Russian oil imports to the EU in early 2026 EU to present proposal to ban all Russian oil imports in early 2026 The European Commission will in early 2026 present a legislative proposal for a complete ban on imports of Russian oil to the European Union. 719 5 Previously in trend: Russian oil exports

Vietnam helps Russia circumvent oil sanctions Russia and Vietnam have created scheme to circumvent price cap on Russian oil, - DIU Russia and Vietnam have organized a scheme to circumvent oil sanctions, guaranteeing at least $75 per barrel. 1 933 4 Previously in trend: sanctions circumvention increase in RF oil prices

Indian refineries purchase discounted oil from Russia India buys Russian oil at significant discount despite US sanctions, - Bloomberg India's state-owned oil refining companies, including Indian Oil Corp. and Bharat Petroleum Corp., purchased Russian oil for delivery in January, attracted by significant discounts. 1 902 8 Previously in trend: Russian oil exports Russia-India relations

Sea Baby marine drone SSU’s Sea Baby drones struck two Russian tankers subject to sanctions in Black Sea - sources. VIDEO The SSU's Sea Baby marine drones struck two sanctioned oil tankers, KAIRO and VIRAT, belonging to the Russian Federation's "shadow fleet" in the Black Sea. 9 897 82 Previously in trend: Russia’s shadow fleet Explosions on tankers in Russia

Oil production Sanctions curb Russian and Iranian oil supplies to China, according to Bloomberg Expanded sanctions on Chinese ports and refineries are curbing flows of Russian and Iranian oil to China, although new bypass routes suggest the slowdown may be temporary. 760 1 Previously in trend: U.S. sanctions against Russia

Attack on Novorossiysk port: oil exports halted Russia halts oil exports through Novorossiysk port after drone attack - Reuters The Russian Black Sea port of Novorossiysk suspended oil exports on Friday after a drone attack. Transneft stopped supplying oil to the port. 1 876 4 Previously in trend: Drone attack on Russian regions Strikes on Russia’s oil ports

Drone attack on Novorossiysk: "Sheshkharis" oil depot damaged, casualties reported Drones attacked oil terminal in Novorossiysk: fire broke out at large export hub. VIDEO On the night of 14 November, Ukrainian drones attacked an oil depot in Novorossiysk. 9 496 23 Previously in trend: Striking Russia Strikes on Russia’s oil ports

China China is building up ’shadow fleet’ to import Russian LNG despite US sanctions - Bloomberg China is stepping up efforts to import Russian liquefied natural gas, which is subject to US sanctions, by creating its own "shadow fleet" to circumvent restrictions. 1 116 7 Previously in trend: U.S. sanctions against Russia russian gas Russian oil exports

Sanctions against Lukoil - the company has declared force majeure Lukoil declares force majeure at oil field in Iraq after US sanctions, - Reuters Russian oil company Lukoil has declared force majeure at the West Qurna-2 oil field in Iraq, one of the largest oil fields in the world. This comes after US sanctions against the corporation hampered its operations. 1 804 7 Previously in trend: U.S. sanctions against Russia

Orbán, Trump Orbán said that US had exempted Hungary from sanctions on Russian energy resources Hungarian Prime Minister Viktor Orbán has stated that Hungary will continue to receive Russian oil via the Druzhba pipeline, as the United States has granted Budapest an exemption from sanctions. 8 661 101 Previously in trend: Hungary buys Russian oil

SSO attack on Russian oil depots in occupied Crimea. Spectacular video Special Operations Forces destroyed Russian oil depots in occupied Crimea. VIDEO Special Operations Forces soldiers carried out strikes on enemy logistics facilities in the temporarily occupied Crimea on the night of 6 November. 5 235 12 Previously in trend: Attacks on Crimea

Russia loses oil revenues amid sanctions and falling prices Russia’s budget deficit may reach 5.7 trillion rubles in 2025 Russia is rapidly losing profits from energy exports. Censor.NET reports that the decline in revenues is linked to falling oil prices and new sanctions, according to data from the Russian Finance Ministry. 2 239 10 Previously in trend: Sanctions against Russia

Drone attack on the port of Tuapse. What is known about the consequences? Russian port of Tuapse halts fuel exports after drone attack - Reuters The Russian Black Sea port of Tuapse has suspended fuel exports, and the local oil refinery has stopped processing crude oil following attacks by Ukrainian drones on November 2. 2 789 5 Previously in trend: Drone attack on Russian regions UAV attack on oil refinery of Russia Striking Russia

India, oil Russia’s maritime oil exports have fallen to minimum due to US sanctions, - Bloomberg Sea deliveries of crude oil from Russia have fallen sharply, recording their biggest drop since January 2024 amid new US sanctions. 1 490 10 Previously in trend: U.S. sanctions against Russia

Strike on the Ryazan oil refinery. What is known about the attack? Ukrainian drone attacks on Russian oil refineries have boosted profits for Western oil giants, - Reuters Leading Western energy corporations have received unexpected financial benefits as a result of numerous Ukrainian drone attacks on Russian oil industry facilities. This has led to increased profitability in the global oil refining market and reduced concerns about a possible oversupply in the global market. 21 098 5 Previously in trend: UAV attack on oil refinery of Russia

Attack on Tuapse on 2 November: "Transneft" pipeline and tanker damaged Strike on Tuapse: at least two hits on "Transneft" oil terminal pipeline. SATELLITE IMAGES Satellite images have appeared online showing the aftermath of the Ukrainian drone attack on the port of Tuapse on the night of 2 November. 3 599 8 Previously in trend: Drone attack on Russian regions

Strike on the oil terminal At moment of Defense Forces’ strike on oil terminal in Tuapse, there were at least three ships in port, - Pletenchuk At the time of the Ukrainian Defense Forces' strike on the infrastructure of the RN-Tuapse Oil Refinery in the Krasnodar Krai region of the Russian Federation, there were at least three ships at the terminal. Their owners have already been identified. 4 935 8 Previously in trend: Drone attack on Russian regions

Trump denies Orbán’s request to exempt Hungary from U.S. sanctions Orbán asked for exemption from U.S. sanctions on Russian oil. I refused – Trump U.S. President Donald Trump said Hungarian Prime Minister Viktor Orbán asked him to make an exception for Hungary under the new U.S. sanctions targeting Russian oil. 9 455 44 Previously in trend: U.S. sanctions against Russia Russian oil exports

China tightens control over exports of dual-use goods Chinese refinery sharply increases imports of Russian oil after British sanctions - Reuters China's Shandong Yulong Petrochemical is increasing purchases of Russian oil to compensate for reduced supplies following the introduction of sanctions by the United Kingdom. 12 533 6 Previously in trend: Sanctions against Russia

Orban Orban: Trump’s sanctions against Russian oil are mistake Prime Minister Viktor Orban has said that US sanctions against major Russian oil companies were a mistake, as Hungary is heavily dependent on energy supplies from Russia. 4 083 23 Previously in trend: U.S. sanctions against Russia

Hungary will support sanctions against Russia Hungary seeks way to circumvent US sanctions against Russian oil companies - Orban Hungarian Prime Minister Viktor Orban said his country is working to find ways to circumvent US sanctions imposed on Russian oil companies Rosneft and Lukoil. 2 215 15 Previously in trend: U.S. sanctions against Russia

Shaheds over Poltava region Russian troops attacked Poltava region: oil companies damaged On the night of 22 October, Russian troops once again attacked the territory of Poltava region. 3 964 1 Previously in trend: ttacks on the energy sector Attack of drones on Poltava region

Hungarian Foreign Minister Szijjarto Hungary to sue EU court over refusal to buy Russian fuel - Szijjarto Hungarian Foreign Minister Péter Szijjártó called the European Council's decision to abandon Russian fossil fuels a blow and announced that he would appeal to the European Court of Justice. 3 523 25 Previously in trend: refusal from Russian gas EU’s rejection of Russian energy resources

Sea oil deliveries from Russia increased to the highest level in the last 2.5 years Russia increases seaborne oil exports to highest level in 29 months Over the past month, maritime shipments of crude oil from Russia have risen to their highest level since May 2023. 1 778 10 Previously in trend: oil Russian oil exports

Trump India will no longer buy Russian oil and Hungary in difficult position as it has single pipeline – Trump US President Donald Trump has announced that India will stop purchasing Russian oil. 2 977 14 Previously in trend: Hungary buys Russian oil Russia-India relations

India India buys oil from Guyana for first time, cutting imports from Russia - Reuters Two Indian refineries have purchased 4 million barrels of oil produced in Guyana from the American company Exxon Mobil. Deliveries are expected in late 2025 - early 2026. 1 290 2 Previously in trend: Russian oil exports

European Parliament European Parliament backs ban on gas and oil imports from Russia The European Parliament has backed proposals providing for the European Union’s complete phase-out of Russian energy resources. 1 799 15 Previously in trend: EU’s rejection of Russian energy resources

oil G7 developing plan to reduce Russia’s oil revenues, - Reuters The G7 countries intend to increase pressure on Russian oil exports, in particular by increasing production in Saudi Arabia and the UAE and reducing purchases of Russian oil in India and Turkey. 1 163 7 Previously in trend: Russian oil exports

An oil terminal near Feodosia in Crimea is on fire on the night of 13 October Drones attacked oil depot in Feodosia. VIDEO Explosions were heard in the temporarily occupied Crimea on the evening of 12 October. 7 874 19 Previously in trend: Explosions in Crimea

Refusal from Russian gas and oil. What did the EU decide? EU ambassadors agree on plan to ban Russian gas and oil imports by 2028 - Reuters The ambassadors of the European Union countries agreed to continue implementing the bloc's plan to stop imports of Russian oil and gas by 2028. This allowed the first political barrier to the adoption of the law to be overcome. 1 355 7 Previously in trend: EU’s rejection of Russian energy resources Russian oil exports

gas imports European Parliament considers speeding up phase-out of Russian oil and gas imports – Bloomberg The European Parliament is considering accelerating the phase-out of Russian oil and gas imports. 842 2 Previously in trend: refusal from Russian gas EU’s rejection of Russian energy resources

Taiwan plans to abandon Russian oil Taiwan to cut Russian oil imports: Kremlin to lose billions in revenue The Taiwanese government has called on local companies to reduce imports of Russian oil and petroleum products, which will result in billions in lost revenue for the Kremlin. 4 190 9 Previously in trend: Sanctions against Russia

Taiwan buys 220 times more Russian oil than it helps Ukraine Taiwan becomes world’s largest importer of Russian oil: purchases brought in $1.7 billion to budget - report Despite official statements of support for Ukraine and joining international sanctions against Russia, Taiwan became the world's largest importer of Russian oil in the first half of 2025, bringing the Kremlin billions of dollars in revenue to finance the war. 4 520 38 Previously in trend: Russian oil exports

Rejection of Russian oil. The EU supports Trump’s call Europe should abandon Russian oil, Trump is right - Kallas EU High Representative Kaja Kallas believes that the dependence of some European countries on Russian energy fuels the war. 1 036 12 Previously in trend: refusal from Russian gas EU’s rejection of Russian energy resources

Russia’s oil ports Ukrainian drones halt operations at two Russian oil ports on Black Sea – Bloomberg Two key oil ports on Russia’s Black Sea coast halted tanker loading following overnight drone attack alerts. 6 007 12 Previously in trend: Strikes on Russia’s oil ports

How will Hungary and Slovakia be forced to stop buying Russian oil? EU plans tariffs to halt Russian oil imports to Hungary and Slovakia The European Union will introduce tariffs on imports of Russian oil to force Hungary and Slovakia to stop buying energy from Russia. 4 030 7 Previously in trend: Russian oil exports

oil, RF EU may raise tariffs on Russian oil without unanimous vote - European Commission The European Union may increase tariffs on Russian oil imports by a qualified majority decision, not by unanimous vote. 1 125 1 Previously in trend: Russian oil exports increase in RF oil prices

Hungary will continue to buy oil from Putin despite Trump’s demands Hungary will continue to buy oil from Russia despite Trump’s demands, - Szijjártó Hungary will not abandon Russian energy sources despite the White House's demand that NATO allies stop buying Russian oil. 2 959 23 Previously in trend: Russian oil exports

U.S. President Donald Trump Trump repeats call for Europe to stop buying oil from Russia - Bloomberg US President Donald Trump has once again called on European countries to "stop buying oil" from Russia to stop the war in Ukraine. 2 389 33 Previously in trend: EU’s rejection of Russian energy resources

eu EU discusses measures against oil supplies to Hungary and Slovakia via Druzhba pipeline - Bloomberg The European Union is considering trade measures against Russian oil imports, which are still being bought by Hungary and Slovakia. 1 979 8 Previously in trend: EU’s rejection of Russian energy resources

India will continue to buy Russian oil despite Trump’s demands India will continue to buy Russian oil despite Trump’s demands - Bloomberg Indian refineries do not plan to refuse Russian crude oil despite US pressure. 2 196 15 Previously in trend: India answers to Trump tariffs

Australia Australia has reduced price of Russian oil and imposed sanctions against 95 more Russian vessels - country’s Foreign Ministry The Australian government has lowered the ceiling price for Russian oil to $47.60 per barrel and imposed targeted sanctions against 95 more vessels of Russia's "shadow fleet." 815 6

oil Poland calls on EU to completely phase out Russian oil by end of 2026 - The Guardian Polish Energy Minister Milosz Motyka has called on EU countries to stop importing Russian oil by the end of 2026 to "cut off funding for the Russian military machine and help Ukraine end the war." 634 4 Previously in trend: EU’s rejection of Russian energy resources

Minister for EU Affairs of Hungary Janos Boka US is ’more understanding’ of Russian energy imports than EU, - Hungary’s Minister Boka The United States is "more sympathetic" to Hungary and Slovakia's imports of Russian gas and oil than the European Union. 1 857 18 Previously in trend: Russian oil exports Anti-Ukrainian statements in Hungary

China and India buy Russian oil: Japan rejects US customs initiative Japan rejects US call to raise duties against China and India for buying Russian oil Japanese Finance Minister Katsunobu Kato has opposed the US call to increase pressure on dictator Vladimir Putin to end the war in Ukraine by imposing higher duties on China and India, which import oil from Russia. 3 006 22 Previously in trend: Sanctions against Russia Russian oil exports

The US insists on European sanctions against buyers of Russian oil War would be over in 60 or 90 days if Europe imposed sanctions on buyers of Russian oil, - Bessent US Treasury Secretary Scott Bessent believes that Russia's war against Ukraine would have ended within 60-90 days if European countries had imposed duties on Russian oil buyers. 5 209 50 Previously in trend: Russian oil exports

US President Donald Trump Ready to impose serious sanctions against Russia when all NATO countries stop buying oil from it, - Trump US President Donald Trump claims that he is ready to impose serious sanctions against Russia, but on one condition. 17 590 219 Previously in trend: Sanctions against Russia

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