Vladimir Putin had a telephone conversation with President of the Republic of Turkey Recep Tayyip Erdogan.

Compared to last year, the period from March 1 through March 15 saw increases in supplies to nine European countries, for instance, Italy (+51.7 per cent), Poland (+71.8 per cent), Croatia (+110.9 per cent), Greece (+34.6 per cent), Bulgaria (+24.4 per cent), as well as Turkey (+21.1 per cent).

BGR meanwhile, has represented the Nord Stream 2 gas pipeline between Russia and Germany, and Uranium One, a mining company owned by the Russian state-owned nuclear corporation Rosatom.

Finance minister Shaukat Tarin told the Financial Times that a deal with Russia to build the multibillion-dollar Pakistan Stream pipeline “is almost done”.

In 2021, Russia was the largest natural gas-exporting country in the world, the second-largest crude oil and condensates-exporting country after Saudi Arabia, and the third-largest coal-exporting country behind Indonesia and Australia.

The European Commission said in a statement on Tuesday that the sanctions included "a far-reaching ban on new investment across the Russian energy sector".

"Russia's oil and petroleum product exports to India have approached $1 billion, and there are clear opportunities to increase this figure," said Russia's Deputy Prime Minister Alexander Novak, according to a statement shared by Russia's embassy in India late on Friday.

"We have good prospects and a common interest in continuing coordination on the global energy market, including within the framework of the Gas Exporting Countries Forum," Lavrov said at a press conference in Moscow following talks with his Qatari counterpart.

"Russia remains a reliable supplier, a world-class guarantor of energy security. We value this reputation, but are ready for a harsh confrontation in the energy sector, if the need arises,"

As it stands, Russia supplies some on average 1,600TWh of gas per year to Europe which represents 40% of Europe’s needs.

Following the meetings, Grossi posted pictures of the talks, giving an upbeat update: "Constructive and important meeting with Sergei Lavrov in Antalya, Turkey, this afternoon. We are making progress on the safety and security of nuclear facilities in Ukaine." "Important and forward-looking conversations with Dmytro Kuleba today in Antalya, Turkey. Progress being made on the safety and security of nuclear facilities in Ukraine."

Turkey relies on Russia for 45% of its natural gas demand, 17% of oil and 40% of its gasoline, Deputy Energy and Natural Resources Minister Alparslan Bayraktar said in remarks on the sidelines of the CERAWeek energy conference.

The German energy group Uniper has decided to sever ties with Russia. Shell will withdraw from Russian hydrocarbons, including crude oil, petroleum products, gas and LNG in a phased manner.

"It is absolutely obvious that refusing Russian oil would lead to catastrophic consequences for the global market. The price surge would be unpredictable – to more than $300 per barrel, if not more," said Russian Deputy Prime Minister Alexander Novak.

Despite the high discount on Russia's Ural oil premium and sanctions .It seems that the rise in oil prices will eventually lead to the growth of Russia's foreign exchange earnings in 2022 and the improvement of its foreign exchange reserves, which is contrary to the goals of Western sanctions and USA.