Sanctions against the Russian Federation, more specifically in its energy section, seem to have been gradually nullified due to a counteraction by Moscow, which as of late made significant progress on several long-standing issues that have long-term effects on the global natural gas sector.

Canada scored a victory Tuesday when the European Union ditched plans to label oil derived from oil sands as dirtier than other forms of crude, removing a major potential obstacle to exporting the controversial fuel to Europe.

Oil prices that have plunged to a 27-month low are inflicting damage on a Russian economy already contending with escalating sanctions from the U.S. and European Union over its role in Ukraine.

Russia's No.2 oil producer Lukoil launched an oilfield in western Siberia ahead of schedule on Wednesday, a major step in its drive to prop up falling production and to weather U.S. sanctions over Ukraine.

Investors flocked to Kazakhstan’s first dollar-denominated bond in more than a decade, the first sovereign bond deal to include terms created in response to Argentina’s acrimonious default.

The U.S. is helping Ukraine plan how to keep homes and businesses heated during winter as the European Union’s incoming chief diplomat warned the government in Kiev may struggle as freezing temperatures approach.

The European Union is seeking to speed up the creation of a common energy market to help its shift to a low-carbon economy and boost security of energy supplies amid a natural-gas dispute between Russia and Ukraine.

Russia may be slow to react to economic issues because Putin is preoccupied with foreign policy and Medvedev, a former corporate lawyer, has become indecisive, two officials said.

Russia's Rosneft Offers Stake in an Oilfield to ONGC Videsh

The Russia-led South Stream undersea gas pipeline is still going ahead, Energy Minister Alexander Novak was quoted as saying on Saturday, following concerns the European Union might be losing enthusiasm for the project.