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 European Union proposed banning seaborne oil from Russia while delaying restrictions on imports from a key pipeline

Важную роль в развитии двусторонних отношений играют флагманские проекты сотрудничества, продолжил вице-премьер, такие как строительство атомной электростанции «Бушер» и теплоэлектростанции «Сирик».

Russian and Iranian officials discussed oil and gas supply swaps, as well as increasing joint energy investments May 25, as an increasingly isolated Moscow seeks more trade partners due to unprecedented sanctions pressure.

Минфин России как ответственный заёмщик подтверждает готовность продолжать обслуживание и погашение всех долговых обязательств.

The Russian economy ministry forecasts an average Urals price of $80.10/b in 2022.

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.

Engie and Gazprom have agreed on a solution in line with both companies' expectations in terms of currencies and with European sanctions.

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.

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

Russia’s share of German crude consumption has already declined to 12% from about 35% before the war in Ukraine, according to the Economy Ministry in Berlin.

European gas prices were trading higher early May 12, with the TTF month-ahead price up at Eur105/MWh ($109.72/MWh) as of 0815 GMT, according to ICE data.

Germany, Russia's top client in Europe, said some subsidiaries of Gazprom Germania were receiving no gas because of the sanctions.

The monthly import profile for April, which following European wholesale front-month trade in March, saw sourcing from all parts of the world intensify, with Europe comfortably receiving its highest-ever volume for a single month. This was, however, paid for at a high price.