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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

дружба,нафтопровід 2 drones attacked oil refinery serving Druzhba oil pipeline in Tver region of Russian Federation - Baza Two drones attacked an oil refinery in the Tver region. 15 821 25 World

ровеньки Fire broke out at oil depot in occupied Rovenky: Russian media say about "attack of Ukrainian drone". PHOTOS A fire broke out at an oil depot in the temporarily occupied Rovenky in the Luhansk region. 7 483 4 Previously in trend: War

россия,нефть G7 countries will keep price ceiling for Russian oil at level of 60 dollars per barrel, Reuters According to Reuters, the coalition of the "Big Seven" countries (G7) will keep the price limit for Russian oil delivered by sea at the level of 60 dollars per barrel. 978 10 Previously in trend: Sanctions against Russia

нафта Singapore triples imports of Russian oil - Reuters In three months, Singapore imported 741 thousand tons of Russian oil, which is about 23% of country’s total imports of petroleum products. In fourth quarter of 2022, Singapore imported 261 thousand tons of Russian oil. 6 569 43 Previously in trend: Sanctions against Russia

танкер,супертанкер US is sending oil supertankers to Europe, - Bloomberg Europe is going to import a record amount of American oil in March. For this, the US sends supertankers to it. 7 387 17 World

нефть Russia stopped supplying oil to Poland through Druzhba pipeline The largest Polish oil company PKN Orlen SA stopped receiving oil through the Druzhba oil pipeline from Russia. 19 331 44 World

нафта Russian oil exports continue to fall - Bloomberg According to Bloomberg, Russia’s oil exports fell to a six-week low even before the announced 500,000 barrels per day production cut next month. 13 670 14 Previously in trend: Sanctions against Russia

нафта EU and G7 countries impose price ceiling on Russian oil products: $100 for Russian diesel and $45 for oils The EU and G7 impose a price ceiling on Russian oil products. 10 442 53 Previously in trend: Sanctions against Russia

іран Iran increases oil exports despite US sanctions, - Reuters Despite the US sanctions, Iran’s oil exports rose in the last two months of 2022, peaking at around 1.2 million barrels per day, and retain the potential for further growth in 2023. 5 534 25 World

нафта Oil supplies from Russia fell to lowest level in December - Bloomberg Crude oil supplies from Russia over the past four weeks have fallen to its lowest level in 2022 - after restrictions imposed on Russia due to its aggression against Ukraine. 4 516 3 Previously in trend: Sanctions against Russia

нафта Ukraine plans to create oil reserve for domestic market, - Shmyhal In 2023, Ukraine plans to create a legislative framework for the reform of the State Reserve, which provides for the formation of minimum reserves of oil and petroleum products for supply to the domestic market. 2 246 27 Economics

нафта Oil sanctions are hurting Russia’s economy - Bloomberg The almost complete ban on Russian oil imports to the European Union has painfully hit Russia’s oil revenues. 11 742 42 Previously in trend: Sanctions against Russia

нафта EU oil sanctions against Russia take effect Today, December 5, EU oil sanctions against Russia came into effect. 3 076 12 Previously in trend: Russian aggression against Ukraine War

песков Russia will not accept ceiling price for oil, - Peskov The press secretary of the Kremlin, Dmytro Peskov, said that Moscow will not accept the ceiling price for oil, which was previously agreed upon by the EU and G7 countries. 13 932 63 World

нефть,рф,нафта,росія Council of EU approved decision to limit price of Russian oil On Saturday, the Council of the EU decided to set the maximum price for oil and oil products and oils originating from or exported from Russia at the level of 60 dollars per barrel. 3 027 23 Previously in trend: Sanctions against Russia

фон,дер,урсула,ляєн EU’s decision to limit oil prices will significantly reduce Russia’s income, - von der Leyen The EU countries’ agreement to limit oil prices, agreed with the G7 and other partners, will significantly reduce Russia’s income. 2 664 26 World

нафта G7 set ceiling price for Russian oil after EU Following an agreement between the 27 member states of the European Union, members of the Group of Seven, as well as Australia (collectively the "Coalition for Price Restraints"), imposed a price cap on oil shipped by sea from the Russian Federation at $60 per barrel. 6 833 15 World

донецьк,нафтобаза Fire broke out at oil depot in Donetsk. VIDEO&PHOTOS A fire broke out at an oil depot in temporarily occupied Donetsk. Black smoke is visible over the city. 10 442 13 Previously in trend: Russian aggression against Ukraine War

шольц Germany supports introduction of oil embargo against Russian Federation from January 1, - Scholz Germany is ready to support the embargo from January 1 and replace Russian oil through the "Druzhba" pipeline. 2 862 9 Economics

нафта G7 to announce Russian oil price ceiling on November 23 - Bloomberg The Group of Seven (G7) countries intend to announce the level at which they will set the maximum price for Russian crude oil next Wednesday, November 23. 4 494 23 Previously in trend: Sanctions against Russia

нафта Biden: Russia’s war against Ukraine reinforces need to wean world from dependence on fossil fuels U.S. President Joe Biden believes that Russia’s war against Ukraine has given a new impetus to abandoning fossil fuels and replacing them with renewable sources. 1 894 12 Previously in trend: War

нафта G7 and Australia agree on ceiling price for Russian oil - Reuters "The G7" and Australia on Thursday tentatively agreed to set a ceiling fixed price for Russian oil at the end of November. 7 864 9 World

нафта,ембарго India does not have "any moral conflict" in buying Russian oil - Minister Puri Indian Oil Minister Hardeep Singh Puri has said he has "absolutely" no moral conflict over buying Russian fuel amid Moscow’s brutal war in Ukraine. 10 847 63 World

нафта Estonia prematurely stops buying Russian oil In the ninth month of the full-scale Russian invasion, the Estonian government approved a decree regulating the purchase, import and transportation of oil and petroleum products from the Russian Federation. 1 971 4 World

трасс EU should give up Russian oil and gas, - Truss The war in Ukraine showed how dependent Europe is on Russian supplies. British Prime Minister Liz Truss called on European leaders to abandon the supply of energy resources from Russia. 2 389 28 Previously in trend: Russian aggression against Ukraine War

нефть EU agrees on new sanctions against Russia, including limitation of Russian oil prices - Joswiak Representatives of EU member states on Tuesday reached a preliminary agreement on a new package of sanctions against Russia over its war with Ukraine, including limiting prices for Russian oil. 8 279 15 Previously in trend: Sanctions against Russia

нафта EU countries plan to postpone price restrictions on Russian oil, - Bloomberg The countries of the European Union have not agreed on limiting the cost of Russian oil and will probably postpone the agreement on this issue. 3 147 21 Previously in trend: Sanctions against Russia

нафта Eighth package of EU sanctions will not limit prices of Russian oil, - mass media The EU will probably not add price restrictions on Russian oil to the eighth package of sanctions against the Russian Federation. 5 296 37 Previously in trend: Sanctions against Russia

дружба,нафта,німеччина Russian Federation can completely stop supply of not only gas, but also oil to Germany, - Scholz German Chancellor Olaf Scholz believes that the Russian authorities can completely stop the supply of oil to two German plants through the Druzhba pipeline - just as it stopped supplying gas to Europe. 8 375 37 World

нафта Russia’s oil and gas revenues fell to minimum in August, despite significant increase in prices, - Bloomberg Russia’s revenues from oil and gas exports fell to their lowest level in nearly a year, despite a significant rise in prices. 2 950 9 Previously in trend: Sanctions against Russia War

россия,нефть G7 countries and EU will ban shipping of Russian oil by sea next year The countries of the "Group of Seven" and the European Union will introduce a ban on sea transportation of Russian oil on December 5. 1 973 2 Previously in trend: Sanctions against Russia

нафта,лісін No sanctions are imposed against Russian oligarch Lisin, whose tankers ship oil products to EU bypassing the ban - Mass Media. PHOTOS Journalist Natalia Sedletska made public information that no sanctions have been imposed on Russian oligarch Vladimir Lisin, despite his tankers exporting oil products to EU, violating sanctions. 4 637 13 Previously in trend: Sanctions against Russia

газ,нафта Russia earned more from sale of oil, gas and coal than it spent on war with Ukraine Russia still receives record revenues from energy sales that far exceed its spending on the war against Ukraine. 9 409 94 World

пожежа,харків Occupants launched a missile attack on an oil depot in Dnipropetrovsk region As a result of enemy missile strikes, a massive fire broke out. 15 547 21 War in Ukraine

зеленський It is necessary to limit price not only of Russian oil, but also of Russian gas, - Zelensky. VIDEO President Volodymyr Zelensky’s address to the citizens of Ukraine at the end of the 191st day of the war with Russia. 2 993 47 Previously in trend: War

нафта G7 agreed to limit prices of Russian oil The G7 countries have announced that they plan to introduce price restrictions on global purchases of Russian oil, which should reduce Russia’s oil revenues and weaken its ability to finance the war against Ukraine. 8 642 9 Previously in trend: Sanctions against Russia

судан Sudan and Russia discussed expanding cooperation in oil sector anв Russian company’s access to Sudanese oil fields Sudan wants to give "Zarubezhneft" oil company access to the country’s oil fields. 1 836 12 Previously in trend: War Russian agression

нафта Kazakhstan will sell more oil bypassing Russia, - Reuters Kazakhstan supplied more than 80% of its crude oil for export through the Tengiz - Novorossiysk oil pipeline of the Caspian Pipeline Consortium (CPC). 4 768 10 Economics

дружба,нафтопровід Russia says that Ukraine has stopped transit of oil to Hungary, Slovakia and Czech Republic The Russian company "Transnafta" declares that Ukraine has stopped the transit of oil through the "Druzhba" oil pipeline. Previously, "Transnafta" did not pay for transportation - it says that it is because of EU sanctions. 11 903 44 Incidents

нафта Russia found new way to bypass oil sanctions - Bloomberg According to Bloomberg, Russia has apparently found a new way to transport its oil in the face of Western sanctions, using the Egyptian El-Hamra oil terminal. 22 690 104 Previously in trend: Sanctions against Russia

лінас,лінкявічюс Linkevičius on 7th sanctions package against Russia: "EU has paid Russia more money than it helped Ukraine". Former Defense Minister and former Foreign Minister Linas Linkevičius criticized the EU sanctions policy, saying that the EU has now sent more money to Russia for gas and oil than it has to Ukraine for aid. 9 032 35 Previously in trend: Sanctions against Russia

нафта Zelensky urged major independent oil trader to stop supplies from Russia Ukrainian President Volodymyr Zelensky called on the world's largest independent oil trader, the Dutch company Vitol, to stop supplying Russian oil and thus stop financing the mass murder of innocent Ukrainians. 4 302 31 Economics

токаев Kazakhstan wants to supply oil to Europe bypassing Russia The President of Kazakhstan, Kassym-Jomart Tokayev, instructed the government to diversify oil supply routes bypassing the Russian Federation. This happened after a Russian court ordered the Caspian Pipeline Consortium to suspend operations for 30 days. 9 723 40 World

нафта Russia earned 93 billion euros on oil and gas sales in 100 days of war. INFOGRAPHICS Russia earned 93 billion euros from fossil fuel exports in the first 100 days of the war against Ukraine. The largest importers were China and EU countries. 3 207 33 Economics

нафта Switzerland imposes sixth package of sanctions against Russia, it includes oil embargo and disconnection of 4 banks from SWIFT Following in the footsteps of the European Union, Switzerland has approved a sixth package of sanctions against Russia over its aggression against Ukraine, which includes an embargo on Russian oil. 4 929 13 Previously in trend: Sanctions against Russia War

нафта European companies have almost doubled their Russian oil supplies since end of February, -The Independent European companies have almost doubled Russian oil supplies since the beginning of Vladimir Putin's full-scale invasion of Ukraine. All this is happening against the background of desperate attempts by EU leaders to completely oust Russia from the European oil and gas market. 8 347 15 Previously in trend: Sanctions against Russia

нафта,ембарго EU has agreed on oil embargo from Russia. But not pipelines, - Reuters The European Union has previously approved an embargo on Russian oil supplies. The ban will not apply to fuel supplied by pipelines. 21 390 66 Previously in trend: Sanctions against Russia

нефть Because of Hungary's position, EU suggests banning Russian oil imports only by sea - Bloomberg According to Bloomberg's sources, the leaders of some European Union countries are tending to a partial embargo on Russian oil because of Hungary's position. They propose to ban imports by sea and only limit deliveries via pipelines. 4 496 48 Previously in trend: Sanctions against Russia

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