Russia remained the top supplier of nuclear reactor fuel to the US last year, even after a ban on enriched uranium imports from the country took effect in May.

In May 2021, Fatih Birol, Executive Director of the IEA, told The Guardian, “If governments are serious about the climate crisis, there can be no new investments in oil, gas and coal, from now – from this year.”

These new measures follow the 18th sanctions package, unveiled in July 2025, which lowered the oil price cap on Russian crude to US$47.6/bbl,

Russia sold 35 billion bcm of gas to the European Union in 2024, which positioned Russia as Europe’s largest gas supplier. Gas has not been subjected to EU sanctions, although the EU has stated it wishes to cut off all Russian gas supplies by 2027. Iran’s gas consumption potential can more than make up the difference and is also likely to spur Iranian industrial development.

Current Russian exports to the Philippines are dominated by products from the metallurgical and chemical industries and the timber sector, as well as agricultural goods and food products. Philippines exports to Russia include electronics, chemical industry goods and agricultural products.

Brent were up 27 cents, or 0.40%, to $67.11 a barrel, WTI rose 29 cents, or 0.46%, to $63 a barrel.

Trump has repeatedly threatened the largest buyers of Russian crude with sanctions if a deal to end the war in Ukraine is not reached. On Aug. 6, Trump issued an executive order raising tariffs on US imports from India from 25% to 50%, in response to what Trump described on Truth Social as India's "massive" purchases of Russian crude.

Physical export volumes in July increased 1.4% month-on-month to 7.3 million barrels per day, matching the export volume from a year earlier.

The refiner, part-owned by Russian oil major Rosneft PJSC, is an important pillar of the Indian market. Its 400,000 barrels-a-day processing plant accounts for 8% of the country’s refining, and the company operates 7% of its fuel stations.

Performance on the Oil Majors has been one to ponder on as shifts in pricing has been dependent majorly on Russian Oil supply point in case being India.