Even with some countries halting or phasing out energy purchases, Russia's oil-and-gas revenue will be about $285 billion this year, according to estimates from Bloomberg Economics based on Economy Ministry projections.

First proposed on May 4, the EU's sixth sanctions package against Russia was designed to ban its crude imports into the bloc within six months and halt flows of its oil products by the year-end to help hit Moscow's oil revenues.

Striving to further promote mutually beneficial ties, in part, in energy, transport and tourism, the leaders agreed to hold more meetings.

Striving to further promote mutually beneficial ties, in part, in energy, transport and tourism, the leaders agreed to hold more meetings.

Hungarian Prime Minister Viktor Orban said May 30 he wants a complete exemption from the European Union's plans to ban Russian oil imports

"The sanctions will immediately impact 75% of Russian oil imports. And by the end of the year, 90% of the Russian oil imported in Europe will be banned," Michel said in a tweet after a summit meeting.

The nuclear power plant - the largest in Europe - is still being operated by its Ukrainian staff, but has been under the control of Russian military forces since the start of March.

Europe is importing record volumes of liquefied natural gas (LNG) as gas from its top supplier Russia has been disrupted following the Ukraine crisis.

As a result, short-term gas prices in Britain, France and Spain have tumbled to as little as a third of those in markets including the Netherlands and Germany,

REPowerEU is about rapidly reducing our dependence on Russian fossil fuels by fast forwarding the clean transition and joining forces to achieve a more resilient energy system and a true Energy Union.

Saying no to Russian energy means that Europe will systemically and for the long term become the world’s most costly region for energy resources.

Gazprom produced 193.8 billion cubic meters of gas from January 1 through May 15, 2022. This is a decrease of 3.7 per cent (or 7.5 billion cubic meters) versus the same period of 2021.

Due to the ongoing geopolitical crisis, the EU member states have set up a purchasing platform for gas, LNG and hydrogen. In this way, one wants to become more independent of Russian energy imports and react against the strong price fluctuations of natural gas.

In its daily update on Monday, Energoatom said that all the country's nuclear power plants continued to operate within safe limits.

The energy package due this week may include measures to address the increasing household costs and energy poverty.