All articles tagged with #russian energy
Hungary plans to sue the EU at the European Court of Justice over its plans to phase out Russian energy by 2027, arguing that it threatens Hungary's energy security and could cause price hikes, with the Hungarian government already initiating legal proceedings.
Hungary announced it has obtained an indefinite waiver from US sanctions to use Russian oil and gas, though a White House official clarified the exemption is valid for one year, with Hungary also committing to diversify energy sources including U.S. LNG contracts. Prime Minister Viktor Orban emphasized the exemption's indefinite nature for energy imports via pipelines, despite ongoing reliance on Russian energy, which has faced criticism from EU and NATO allies.
President Trump stated that he will only impose new sanctions on Russia over Ukraine if NATO countries stop purchasing Russian oil and impose tariffs on China, emphasizing the need for unified action to increase pressure on Russia amid ongoing conflicts and energy dependencies.
The European Union is considering imposing sanctions on China due to its involvement in Russian energy imports, amid ongoing geopolitical tensions.
China is facilitating the use of the renminbi for fundraising by Russian energy companies, potentially impacting international financial transactions and sanctions regimes.