"Europe's Defiance: The End of Russian Energy Dominance"

Europe has successfully reduced its reliance on direct Russian oil imports, dealing a blow to Vladimir Putin. Research by Rystad shows that the UK and much of Europe have shifted away from Russian oil and gas, turning to other suppliers such as the US and Canada. This shift has been facilitated by a surge in supply from non-Opec sources and a decrease in overall energy demand due to economic slumps. However, there are concerns that some of the apparent decline in trade with Russia could be illusory, as Russia may be selling more crude oil to countries like India, which is then processed and sold to the UK and Europe.