The decline was due to lower crude prices and a stronger rouble. Oil and gas revenues are crucial for Russia's state budget, which ran a deficit of 5.6 trillion roubles or 2.6% of gross domestic product in 2025.

Agreements were reached to boost supply volumes via the Power of Siberia pipeline from 38 bcm per year to 44 bcm per year and to increase supply volumes via the Far Eastern route from 10 bcm per year to 12 bcm per year.

Energy security is at the core of its evolving ties, as Hungary protects its national interest. Hungary remains the EU member state most honest about its energy realities.

Russia has remained China's largest crude supplier, but those flows fell to 2 million b/d (83.15 million metric tons) in the first 10 months of 2025, down 7.7% year over year, according to data from China's General Administration of Customs.

Front-month futures on the Dutch Title Transfer Facility (TTF) are trading at the lowest for more than 18 months around €29 per megawatt hour down from more than €58 at one point in February.

Our country ships significant amounts of petroleum and refined products to the republic, almost fully meeting the energy needs of Tajikistan’s economy. Energy supplies are exempt from export customs duties.

Situated in Al Ruwais Industrial City, Abu Dhabi, the 9.6 Mt/year Ruwais LNG project is expected to begin commercial operations in 2028.

The facility located above the Arctic circle is key for Russia’s ambition to triple LNG production by the end of the decade. While those plans were squeezed by international restrictions after the Kremlin’s invasion of Ukraine, China’s decision to take more Russian gas amid a confrontation with the US could revive those goals.

While global spending is likely to hit $570 billion this year — enough to keep production at current levels if sustained — the amount would be down slightly from 2024,

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,