Ahead of Russian President Vladimir Putin’s visit to Iran on Tuesday, his second foreign trip since he invaded Ukraine in February, Russian Gazprom and the National Iranian Oil Company have inked a $40-billion agreement for the development of oil and gas fields.
Russia is considering accepting Bitcoin as payment for its oil and gas exports, according to a high-ranking lawmaker.
Russia has enough buyers for its oil and gas even as Western nations and their allies impose sanctions in response to the invasion of Ukraine, according to a top Kremlin official.
As we approach the 50th anniversary of the 1973 global oil crisis, international energy markets and the global economy are about to receive a similar jolt.
BP is abandoning its stake in Russian oil giant Rosneft in an abrupt and costly end to three decades of operating in the energy-rich country, marking the most significant move yet by a Western company in response to Moscow’s invasion of Ukraine.
Following Russia’s invasion of Ukraine, Biden defended his decision to preserve access to Russian energy in order “to limit the pain the American people are feeling at the gas pump.”