Beijing is in discussions with Moscow to buy additional oil supplies, Bloomberg reported this week, citing people with knowledge of the plan. China is seeking to replenish its storage tanks with discounted Russian crude before prices rise again, they said. According to the sources, who asked not to be named, …
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Russian President Vladimir Putin said on Tuesday that energy inflation in Western countries should be blamed on their own mistakes, and not on Russia. The EU is committing economic suicide by trying to wean itself off from Russian energy resources, Putin said. “Such an economic auto-da-fé, suicide is, of course, …
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The price of imported energy in Italy rose in March by 72.5% on a yearly basis, the National Institute of Statistics (ISTAT) reported on Tuesday. Data showed that the increase in energy prices accelerated by 5.6% compared to February. Italy, which relies heavily on Russia for its energy needs, has …
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The international sanctions campaign to punish Russia over the Ukraine conflict will backfire, causing suffering by people around the world while failing to promote peace in the former Soviet republic, a top Chinese diplomat has told the UN Security Council. “Sanctions will not bring peace but will only accelerate the …
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The European Union, this week, announced ambitious proposals to embargo the importation of Russian oil by the end of 2022. After teeth-pulling negotiations which have been met with strident objections from several member states, including Hungary and Slovakia, and public doubt over the impact of such measures, its Commission President …
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Western sanctions against Russia and Moscow’s retaliatory measures will have big implications for the global energy market, Fatih Birol, Executive Director of the International Energy Agency (IEA), said in Vienna on Friday. “I believe that we are in the middle of the first global energy crisis. In the 70s we …
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Hungary has denied a report in the German media which claims that the country is prepared to support an EU ban on Russian oil and gas in response to Moscow’s military campaign in Ukraine. Budapest affirmed its stance on the matter after German public broadcaster ZDF quoted sources as saying …
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The year 2022 will see Western countries implementing “a very ambitious policy” of reducing dependence on energy from Russia, with Russian oil set to be phased out by the end of the year, German Chancellor Olaf Scholz has announced. In an interview with Indian Express ahead of his meeting with India’s …
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The year 2022 will see Western countries implementing “a very ambitious policy” of reducing dependence on energy from Russia, with Russian oil set to be phased out by the end of the year, German Chancellor Olaf Scholz said. In an interview with Indian Express ahead of his meeting with Indian …
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France, one of Europe’s leading electricity exporters, has taken 28 of its 56 atomic reactors offline due to defects or maintenance. The step comes amid a months-long energy crunch, one of the worst in European history. The 1,300-megawatt Golfech-2 reactor run by Electricite de France (EDF) in the south of …
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