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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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TOP news oil

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

Kallas, kaja Kallas supports cutting Russian oil price to $40 to limit Kremlin’s finances - Bloomberg EU diplomat Kaja Kallas said it was necessary to reduce the price ceiling for Russian oil in order to further limit Russia's revenues and weaken its ability to finance the war against Ukraine. 2 184 10

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

oil Ukrainian drones disabled 17% of Russia’s oil refining capacity, - Reuters Ukrainian drone attacks on Russian oil refineries and export infrastructure have disrupted the operation of at least 10 facilities, which is about 17% of the country's oil refining capacity. 1 677 10 Previously in trend: UAV attack on oil refinery of Russia

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

Europe is dependent on US weapons US urges Europe to stop buying Russian oil and gas to strengthen sanctions - FT European countries should stop buying Russian oil and gas if they want Washington to tighten sanctions against Moscow. 1 952 10 Previously in trend: refusal from Russian gas

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

oil EU to introduce new dynamic price cap on Russian oil from 3 September - European Commission The European Union will start applying a dynamic price ceiling for Russian oil from 3 September 2025 - based on the formula approved as part of the 18th package of sanctions against Russia. 4 601 10 Previously in trend: drop in oil prices

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

нафта G-7 countries pledge to phase out Russian oil imports - official statement The G7 countries have committed themselves to phasing out or banning imports of Russian oil 6 337 10 Previously in trend: Russian aggression against Ukraine Sanctions against Russia War

UK UK joins EU in lowering price cap on Russian oil to $47.6 per barrel The United Kingdom has joined the European Union’s decision to lower the price cap on Russian oil. 1 531 9 Previously in trend: Sanctions against Russia drop in oil prices

Sikorski on Russia and Trump’s rhetoric Sikorski responded to Szijjártó: Hungary can obtain oil from non-Russian sources Polish Foreign Minister Radosław Sikorski said that Hungary has the opportunity to obtain oil from alternative sources without financing the Russian military machine. 3 446 9 Previously in trend: Oil supplies through "Druzhba" pipeline Hungary bans entry to Madyar

Israel attacked Iran’s oil infrastructure Israel attacked Iran’s oil infrastructure. VIDEO On the evening of 7 March , Israeli fighter jets attacked Iran's oil infrastructure . 5 667 9 Previously in trend: Israel’s strike against Iran regime change in Iran

Видобуток нафти It is necessary to create oil Ramstein, - co-founder of Ukrainian Institute for Future Amielin Anatolii Amielin, co-founder of the Ukrainian Institute for the Future, said that the current circumstances require the creation of the Oil Ramstein, a coalition of partners to limit Russia's ability to circumvent sanctions with the help of a "shadow fleet". 1 830 9

Zelenskyy called on Orbán to heed signals from Trump It is important that Orbán hears signal from United States about Russian oil, - Zelenskyy President Volodymyr Zelenskyy said that the US wants to reduce Russia's oil export revenues. This signal should be heeded by Hungarian Prime Minister Viktor Orbán. 1 369 9

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

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

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 Decisions on oil embargo can be made within 24 hours, - Stefanishyna Kyiv expects that in less than 24 hours the European Union will decide on an embargo on Russian oil. 3 660 9 World

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 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

нафта EU is working on potential sanctions against Russian oil sector, - said representative of European Commission Mamer The European Union does not rule out the possibility of imposing additional sanctions against Russia, in particular on oil imports from Russia. 1 880 9 Previously in trend: Sanctions against Russia War

oil, India Russia has increased oil discounts for India to maintain exports, - Bloomberg Over the past ten days, Russia has increased oil discounts for Indian oil refineries in an attempt to encourage India to continue purchasing Russian raw materials. 2 237 8 Previously in trend: Russian oil exports Russia-India relations

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

oil EU is not pushing Ukraine to restore oil transit via Druzhba – European Commission The European Union does not require Ukraine to resume the transit of Russian oil through the damaged Druzhba pipeline amid Russia’s systematic destruction of the country’s energy infrastructure. 1 659 8 Previously in trend: Oil transit via Druzhba pipeline

нафта,російська United States will seek from Western partners to comply with price limit for Russian oil proposed by G7, - Reuters US President Joe Biden’s administration intends, using soft tactics, to intensify work with Western trading houses, insurers, and tanker owners to remind them of the need to adhere to the price ceiling set by the "Big Seven" for Russian oil. 1 311 8 World

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

нафта Russia has problems with supplying oil to India, - Reuters Russia is having trouble getting paid for oil supplies to India in Emirati dirhams. 3 272 8 World

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

россия,нефть European Commission has unanimously approved proposal to EU Council for sixth package of sanctions against Russia The official representative of the European Commission (EC) Eric Mamer said that the EC proposal submitted to the EU Council on the sixth package of sanctions against Russia was unanimously approved by members of the EU Executive Board. 6 061 8 Previously in trend: Sanctions against Russia

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

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

Drones attacked an oil depot in the Krasnodar Krai of Russia Drones attacked oil depot in Krasnodar Krai of Russia In Tikhoretsk, Russia, drones attacked the "Tikhoretsk-Nafta" oil and gas company. Due to the threat of drones, temporary restrictions were imposed at Krasnodar Airport. 1 670 7 Previously in trend: Drone attack on Russian regions Russian oil depot is on fire

нафта Kuleba on possibility of imposing oil embargo on Russia: There is very cautious optimism Resolving the oil embargo in the European Union is near. At the same time, the EU is working on Russian gas. 2 400 7 Previously in trend: Sanctions against Russia War

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

Ukraine’s budget to obtain funds from sold “Kurchenko’s oil" before end of the year, prosecutor general says Prosecutor General of Ukraine Yurii Lutsenko expects income from the sale of the so-called “Kurchenko’s oil” to be returned to the state budget by the end of 2016. The petroleum products were seized from fugitive Ukrainian businessman Serhii Kurchenko, a henchman to ex-President of Ukraine Viktor Yanukovych. 4 644 7 Previously in trend: Kurchenko’s shadow empire

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

President of Ukraine Volodymyr Zelenskyy US tariffs against countries that buy oil from Russia are "right idea", - Zelenskyy President of Ukraine Volodymyr Zelenskyy believes that the tariffs imposed by the United States on other countries over oil imports from Russia are a "good idea." 681 7 Previously in trend: U.S. sanctions against Russia Trumps tariffs

Putin’s most dangerous weapon is in the English Channel Putin’s most dangerous weapon is in English Channel: "shadow fleet" continues to finance the war Some of dictator Vladimir Putin's most powerful tools are being transported through British waters. Every month, oil tankers belonging to Russia's "shadow fleet" pass through the English Channel, despite Western sanctions. 1 667 7 Previously in trend: Russia’s shadow fleet

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

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

Damage to the Druzhba oil pipeline: EU experts have arrived in Ukraine EU experts have arrived in Ukraine to inspect "Druzhba" oil pipeline Experts from the European Union have arrived in Ukraine to assess the condition of the "Druzhba" oil pipeline. 6 636 25 Previously in trend: Oil supplies through "Druzhba" pipeline

нефть New EU sanctions will affect oil imports from Russia, - said Michel, President of European Council The European Union's new sanctions on Russia will include measures against Russian oil supplies. 3 294 6 Previously in trend: Sanctions against Russia

shadow fleet Russian tankers from "shadow fleet" use Singapore to circumvent sanctions, - media Russian tankers belonging to the "shadow fleet" are increasingly listing Singapore as the official destination for oil. 4 036 6 Previously in trend: Russia’s shadow fleet

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

Ukraine war latest: SBU drones hit Lukoil Caspian platform again Security Service of Ukraine hits third Russian oil production platform in the Caspian Sea, sources say Long-range drones operated by the Security Service of Ukraine (SSU) have struck a Russian oil production platform on the Caspian Sea shelf for the third time in recent weeks. 3 298 6 Previously in trend: Striking Russia

oil, India India cuts Russian oil purchases and increases energy imports from US, - Fox Business India has already begun to reduce its purchases of Russian oil and is simultaneously increasing its imports of energy resources from the United States. 935 6 Previously in trend: Russian oil exports

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