Ukraine

US-based Holtec has signed a memorandum of understanding with Hungary’s energy group MVM to assess the deployment of its SMR-300 technology, strengthening bilateral nuclear cooperation and opening prospects for a new market in Central Europe.
The Bulgarian government has increased security around Lukoil’s Burgas refinery ahead of a state-led takeover enabled by new legislation designed to circumvent international sanctions.

India and Russia strengthen nuclear cooperation with new projects

Russia and India are preparing an expanded agreement for the construction of VVER-1200 reactors and modular nuclear power plants, while accelerating work at the strategic Kudankulam site.
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Appalachia, Permian and Haynesville each reach the scale of a national producer, anchor the United States’ exportable supply and set regional differentials, LNG arbitrage and compliance constraints across the chain, amid capacity ramp-ups and reinforced sanctions.
Faced with US sanctions targeting Lukoil, Bulgaria adopts emergency legislation allowing direct control over the Balkans’ largest refinery to secure its energy supply.

Gunvor drops $22bn bid for Lukoil assets under US pressure

Swiss trader Gunvor has withdrawn its $22bn offer to acquire Lukoil’s international assets after the US Treasury announced it would block any related operating licence.
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The United States grants Hungary a one-year waiver on sanctions targeting Russian oil, in return for a commitment to purchase US liquefied natural gas worth $600mn.
Commodities trader Gunvor confirmed that the assets acquired from Lukoil will not return under Russian control, despite potential sanction relief, amid growing regulatory pressure.

Western sanctions disrupt Lukoil’s international operations

Sanctions imposed by the U.S. and the U.K. are paralyzing Lukoil's operations in Iraq, Finland, and Switzerland, putting its foreign businesses and local partners at risk.
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Aramco reported a 2.3% decrease in its net profit for the third quarter, amid global economic uncertainties and an oversupply of oil, although its adjusted earnings showed a slight increase.
The gradual ban on Russian cargoes reshapes European flows, increases winter detours via the Northern Sea Route and shifts risk toward force majeure and “change of law,” despite rising global capacity. —

Poland: Orlen Consolidates Gas, Targets Regional Hub Without Liberalization

Poland’s gas market remains highly concentrated around Orlen, which controls imports, production, and distribution, while Warsaw targets internal and regional expansion backed by new infrastructure capacity and demand from heat and power.
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Sofia temporarily restricts diesel and jet fuel exports to safeguard domestic supply following US sanctions targeting Lukoil, the country’s leading oil operator.
Swiss trader Gunvor will acquire Lukoil’s African stakes as the Russian company retreats in response to new US sanctions targeting its overseas operations.

Washington temporarily authorises operations linked to Rosneft’s German assets

The United States has issued a general license allowing transactions with two German subsidiaries of Rosneft, giving Berlin until April 2026 to resolve their ownership status.
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Botaş lines up a series of liquefied natural gas (LNG, liquefied natural gas) contracts that narrow the space for Russian and Iranian flows, as domestic production and import capacity strengthen its bargaining position. —
Lukoil has started divesting its foreign assets following new US oil sanctions, a move that could reshape its overseas presence and impact supply in key European markets.

Kazakhstan considers swift decision on Lukoil’s local assets

Kazakhstan is reviewing Lukoil's stakes in major oil projects after the Russian group announced plans to divest its international assets following new US sanctions.
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Le Premier ministre hongrois se rendra à Washington pour discuter avec Donald Trump des sanctions américaines contre le pétrole russe, dans un contexte de guerre en Ukraine et de dépendance persistante de la Hongrie aux hydrocarbures russes.
An Italian appeal court has approved the extradition to Germany of a former Ukrainian commander suspected of coordinating the 2022 sabotage of the Nord Stream gas pipeline, a decision now challenged in cassation.
Moscow refuses to specify the expiry date of the Russia-Ukraine energy strike moratorium, despite ongoing tensions and US diplomatic involvement.
The Kremlin has confirmed its willingness to actively support a diplomatic resolution on Iran’s nuclear file, ahead of a new round of talks between Tehran and Washington scheduled for this Saturday.

Iranian foreign minister to meet Lavrov in Moscow ahead of Washington nuclear talks

Abbas Araghchi will meet Sergey Lavrov in Russia before resuming nuclear discussions with the United States, scheduled for 19 April in Muscat under Omani mediation.
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In Schwedt, past dependence on Russian oil threatens industrial prospects as the debate on lifting sanctions intensifies and divides Germany’s political class.
Estonian authorities have detained a tanker without official flag registration, suspected of belonging to Russia’s shadow fleet, while en route to a strategic Russian port.

Russia constrained by infrastructure amid Chinese LPG demand

China is increasing imports of Russian liquefied petroleum gas, but Russia's infrastructure limitations complicate the complete replacement of U.S. LPG, despite joint projects aimed at overcoming these constraints by late 2025.
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A lasting peace in Ukraine could revive Russian exports to Europe and weigh on the future of liquefied natural gas projects in the United States.
India's largest power producer, NTPC, paves the way for small modular reactors to modernize its aging energy infrastructure and strengthen energy security through significant international partnerships.

Washington and Tehran Negotiate, Moscow Validates a Strategic Nuclear Pact

As Russia ratifies a 20-year civil nuclear agreement with Iran, the United States reopens indirect talks in Oman. Tehran demands the lifting of sanctions, while 275 kg of uranium enriched to 60% raises concerns.
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Russia’s State Duma officially approves a major energy partnership with Iran, paving the way for enhanced cooperation in the oil, natural gas, and civil nuclear sectors, despite ongoing Western sanctions.
The French and British governments denounce ongoing Russian attacks on Ukrainian energy facilities, despite ceasefire discussions backed by the United States.

Russia imposes €903 million in damages for Black Sea oil spill

Russian authorities are demanding €903 million from the owners of two tankers that ran aground in the Black Sea following an oil spill linked to unauthorised winter navigation.
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In Cienfuegos, Cuba is deploying an ambitious photovoltaic programme supported by China to reduce its dependence on oil and stabilise its failing power grid.
Despite severe Western sanctions targeting Russian energy, Rosatom continues its international nuclear projects and maintains a steady flow of enriched uranium to Europe and the United States, thus supporting the Russian economy through an effective diversification strategy.

Bulgaria launches work on “The Vertical” gas corridor

Bulgaria will begin expanding its gas network in the coming weeks, a cornerstone of the "The Vertical" project aimed at strengthening regional energy security following the halt of Russian transit through Ukraine.
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German Foreign Minister Annalena Baerbock ruled out any possibility of reactivating the Nord Stream 2 pipeline, shut down since 2022, despite discussions mentioned by Russia and growing pressure on energy supply.
The potential lifting of U.S. sanctions on the Arctic LNG 2 project paves the way for a rapid resumption of Russian liquefied natural gas exports, significantly impacting global markets from the third quarter of 2025.

United States extends suspension of sanctions against NIS in Serbia

Washington again delays the enforcement of sanctions against NIS, the Serbian energy company controlled by Gazprom, extending the status quo until the end of April according to Serbian President Aleksandar Vucic.
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No attacks on energy installations have been reported since a partial agreement announced by the United States, marking a pause in hostilities targeting critical infrastructure.
Hungary’s Foreign Minister travelled to Moscow for talks with Russian authorities on energy security, reinforcing a strategic energy partnership already bolstered by record gas and oil deliveries in 2024.