Russian oil giant OAO Rosneft is devising a legal strategy to fight Western sanctions in European courts, according to people familiar with the strategy—a tactic modeled on the so-far successful legal campaign waged by Iran’s Bank Mellat.

OAO Gazprom said profit for the first half of the year fell by almost one-quarter as Ukraine's Naftogaz didn't pay for gas supplied by the Russian state-controlled gas group.

With the rouble down 18 percent against the dollar this year and sanctions chipping away at economic ties with the West, ordinary Russians might be forgiven for rushing to put their money in a nice, "safe" foreign currency.

Morgan Stanley ’s deal to sell an oil trading business to Rosneft , the state-owned Russian oil group, is close to collapse amid the profound chill in relations between Russia and the US.

European Energy Commissioner Guenther Oettinger has asked Ukraine and Russia to take part in another round of talks to try to solve a gas pricing row on Oct. 21 in Berlin, a Commission official said on Thursday.

Poland’s ambition to achieve energy independence from Russia is being undermined by drillers giving up on the nation’s shale wells after disappointing results.

French banking giant BNP Paribas SA has stopped offering letters of credit to finance commodities trades involving sanctioned Russian banks, according to people familiar with the matter—the latest fallout from tightening economic restrictions imposed by the West against Moscow.

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.