October 26, 2020

Three Russian tankers targeted off the Turkish coast have reignited Ankara’s concerns about oil and gas supply security in the Black Sea and the vulnerability of its subsea infrastructure.
Bucharest authorises an exceptional takeover of Lukoil’s local assets to avoid a supply shock while complying with international sanctions. Three buyers are already in advanced talks.

European Union calls for safeguards in US tariff deal to protect domestic industry

European governments want to add review and safeguard mechanisms to the trade deal with Washington to prevent a potential surge of US imports from disrupting their industrial base.
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The Khor Mor gas field, operated by Pearl Petroleum, was hit by an armed drone, halting production and causing power outages affecting 80% of Kurdistan’s electricity capacity.
Global South Utilities is investing $1 billion in new solar, wind and storage projects to strengthen Yemen's energy capacity and expand its regional influence.

UK and FirstRand mobilise $150mn to accelerate Africa’s energy transition

British International Investment and FirstRand partner to finance the decarbonisation of African companies through a facility focused on supporting high-emission sectors.
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Budapest moves to secure Serbian oil supply, threatened by Croatia’s suspension of crude flows following US sanctions on the Russian-controlled NIS refinery.
Moscow says it wants to increase oil and liquefied natural gas exports to Beijing, while consolidating bilateral cooperation amid US sanctions targeting Russian producers.

EIB commits €2bn to strengthen EU energy influence in Africa

The European Investment Bank is mobilising €2bn in financing backed by the European Commission for energy projects in Africa, with a strategic objective rooted in the European Union’s energy diplomacy.
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Russia faces a structural decline in energy revenues as strengthened sanctions against Rosneft and Lukoil disrupt trade flows and deepen the federal budget deficit.
Washington imposes new sanctions targeting vessels, shipowners and intermediaries in Asia, increasing the regulatory risk of Iranian oil trade and redefining maritime compliance in the region.

Washington authorises flows to Paks II and inserts US interests into Hungary’s nuclear sector

OFAC’s licence for Paks II circumvents sanctions on Rosatom in exchange for US technological involvement, reshaping the balance of interests between Moscow, Budapest and Washington.
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Finland, Estonia, Hungary and Czechia are multiplying bilateral initiatives in Africa to capture strategic energy and mining projects under the European Global Gateway programme.
The Brazilian president calls for a voluntary and non-binding energy transition during COP30 in Belém, avoiding direct confrontation with oil-producing countries.

Sub-Saharan Africa captures 2.3% of global renewable investment in 2024

The region attracted only a small share of global capital allocated to renewables in 2024, despite high energy needs and ambitious development goals, according to a report published in November.
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The United States approves South Korea’s development of civilian uranium enrichment capabilities and supports a nuclear-powered submarine project, expanding a strategic partnership already linked to a major trade agreement.
The EU member states agree to prioritise a loan mechanism backed by immobilised Russian assets to finance aid to Ukraine, reducing national budgetary impact while ensuring enhanced funding capacity.

Canada approves second series of energy projects worth $56 billion

The Canadian government commits $56 billion to a new wave of infrastructure projects aimed at expanding energy corridors, accelerating critical mineral extraction and reinforcing strategic capacity.
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Berlin strengthens its cooperation with Abuja through funding aimed at supporting Nigeria’s energy diversification and consolidating its renewable infrastructure.
COP30 begins in Belém under uncertainty, as countries fail to agree on key discussion topics, highlighting deep divisions over climate finance and the global energy transition.
The activation of the snapback mechanism reinstates all UN sanctions on Iran, directly affecting the defence, financial and maritime trade sectors.
Commissioner Dan Jørgensen visits Greenland to expand energy ties with the European Union, amid plans to double EU funding for the 2028–2034 period.

European and Iranian ministers meet in New York to avoid return of sanctions

European and Iranian foreign ministers meet in New York to try to prevent the reinstatement of UN sanctions linked to Tehran’s nuclear programme.
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Canadian Prime Minister Mark Carney announces a bilateral agreement with Mexico including targeted investments in energy corridors, logistics infrastructure and cross-border security.
The US president has called for an immediate end to Russian oil imports by NATO countries, denouncing a strategic contradiction as sanctions against Moscow are being considered.

Iran withdraws nuclear resolution under US financial pressure

Tehran withdrew a resolution denouncing attacks on its nuclear facilities, citing US pressure on IAEA members who feared suspension of Washington’s voluntary contributions.
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Poland’s energy minister calls on European Union member states to collectively commit to halting Russian oil purchases within two years, citing increasing geopolitical risks.
Athens and Tripoli engage in a negotiation process to define their exclusive economic zones in the Mediterranean, amid geopolitical tensions and underwater energy stakes.

Paris, Berlin and London give Iran ten days to avoid reinstated sanctions

European powers demand concrete steps from Tehran on nuclear issue or United Nations sanctions will be reinstated, as IAEA inspections remain blocked and tensions with Washington persist.
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Brussels confirms its target to end all Russian energy imports by 2028, despite growing diplomatic pressure from Washington amid the ongoing conflict in Ukraine.
Donald Trump threatens to escalate US sanctions against Russia, but only if NATO member states stop all Russian oil imports, which remain active via certain pipelines.

Italy and United States seal LNG partnership to secure European supply

The two countries agreed to develop infrastructure dedicated to liquefied natural gas to strengthen Europe's energy security and boost transatlantic trade.
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Ayatollah Ali Khamenei calls for modernising the oil industry and expanding export markets as Tehran faces the possible reactivation of 2015 nuclear deal sanctions.
The Ukrainian president demanded that Slovakia end its imports of Russian crude, offering an alternative supply solution amid ongoing war and growing diplomatic tensions over the Druzhba pipeline.

Washington lowers import duties and opens the door to $550 billion Japanese investments

The United States cuts tariffs on Japanese imports to 15%, while Tokyo launches a massive investment plan targeting American energy, industry, and agriculture.
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Brazil’s Cop 30 presidency aims to leverage the Dubai commitments to mobilise public and private actors despite ongoing deadlock in international negotiations.
Brasília has officially begun the process of joining the International Energy Agency, strengthening its strategic position on the global energy stage after years of close cooperation with the Paris-based organisation.

Putin asks Slovakia to block energy flows to Ukraine

During a meeting in Beijing, Vladimir Putin called on Slovakia to suspend its energy deliveries to Ukraine, citing Ukrainian strikes on Russian energy infrastructure as justification.
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Vladimir Putin and Robert Fico met in China to address the war in Ukraine, regional security and energy relations between Russia and Slovakia.
Slovak Prime Minister Robert Fico plans to meet Vladimir Putin in Beijing before receiving Volodymyr Zelensky in Bratislava, marking a diplomatic shift in his relations with Moscow and Kyiv.