Russia’s July oil and gas revenues are expected to rise 60% year-on-year due to higher global oil prices, despite ongoing sanctions and a weaker year-to-date performance.
The US has extended the temporary license for Serbia’s NIS to operate under sanctions, allowing ongoing crude processing while ownership shifts from Gazprom to MOL Group.
Ukrainian drone strikes caused fires at strategic sites in Crimea, including Kerch port's oil terminal and Sevastopol's defense zones, with air defenses shooting down four UAVs.
The Strait of Hormuz will reopen immediately after US and Iran sign a peace memorandum, ending port blockades and easing energy market tensions.
G7 leaders unveil new sanctions targeting Russian energy exports and pledge increased delivery of advanced weaponry to Ukraine amid shifting battlefield dynamics.
The U.S. has sanctioned Cuba’s state oil company CUPET, escalating economic pressure amid Cuba’s worsening fuel crisis and targeting top regime officials.