China's significant role in global maritime finance and shipping has led to a carve-out in certain regulations, demonstrating Beijing's economic leverage. An EU official detailed how Chinese financial arrangements and shareholding in vessel companies create a risk of asset loss for borrowers.
EU countries reached a deal on their 12th sanctions package against Russia, resolving a dispute over Russian gas shipments to third countries with a limited exemption for existing contracts. The bloc also agreed to freeze its price cap on Russian crude oil for 12 months.
German Chancellor Friedrich Merz acknowledged that the country's prolonged energy crisis stems from the loss of Russian gas supplies, impacting industry with soaring costs. Germany's economy contracted, and the EU plans to fully ban Russian gas by 2027, despite mounting pressure from fuel prices.
Major European banks, including Deutsche Bank, UniCredit, and Commerzbank, are suing German industrial group Linde for hundreds of millions of euros. The dispute arises from Linde's withdrawal from a €10 billion Russian gas project due to EU sanctions, which led to Russian courts seizing bank assets.
The EU is projected to enter the heating season with its lowest gas reserves in 15 years (76% full by October), driven by a shift away from Russian gas, reliance on expensive US LNG, and global supply disruptions, potentially leading to increased energy costs.
Gazprom is repairing damage from a July 7 drone attack on the Krasnodarskaya compressor station of the Blue Stream gas pipeline. The company stated that the attack aimed to disrupt gas supplies to Turkey but was thwarted by prompt measures, preventing any interruptions. This incident follows several previous repelled attacks on Russian gas infrastructure supplying Turkey.
The International Energy Agency (IEA) has revised its forecast for Russian gas production in 2026, slightly lowering it to 683 billion cubic meters (bcm) from the previous estimate of 687 bcm. The agency also projects Russian gas production to be 683 bcm this year, up from 663 bcm in 2025.
German federal prosecutors have charged a Ukrainian national, Serhii K., as an accomplice in a war crime for the 2022 Nord Stream pipeline sabotage. He is accused of acting on behalf of Ukrainian state bodies to destroy the pipelines, a claim denied by Ukraine's president. Serhii K. denies the allegations, marking the first formal court case.
Russia's natural gas exports to Europe via the TurkStream pipeline rose by 5% to 8.74 billion cubic meters in January-July 2026. Despite a 26% monthly drop in June due to maintenance, TurkStream remains the sole active route for Russian gas to Europe.
Ukraine's attacks on Russian oil refineries have led to widespread fuel shortages and rationing across Russia, causing frustration among motorists and impacting the agricultural sector. President Putin acknowledged the "temporary" issues, but analysts suggest repairs will take months, prolonging the crisis.
Gazprom CEO Alexey Miller stated that the company and China are discussing new gas supply opportunities, with China confirming its interest. Miller highlighted Gazprom's resources to meet China's growing demand, projecting a 40% increase in consumption over the next decade.
Russia's pipeline gas supplies to Turkey decreased by 6% in January-April compared to the same period last year, totaling 8.3 billion cubic meters. In April alone, Turkey imported 1.97 billion cubic meters from Russia via the TurkStream and Blue Stream pipelines.
Russian President Vladimir Putin stated that Germany needs political will to resume gas supplies via Nord Stream 1 and 2 pipelines. He noted that no such signals have been received from Berlin, but the process could be quick if a decision is made.
Serbia's former deputy prime minister, Aleksandar Vulin, expressed confidence in continued Russian support for gas supplies and pricing ahead of the St. Petersburg International Economic Forum. Vulin anticipates President Putin's backing for favorable terms on Russian gas.
Gazprom reported that gas injection rates into underground storage facilities in Germany and France are at their lowest since 2013. The Rehden storage in Germany is only 4.2% full, and Dutch storage levels are also historically low.
Video shows damage to the Russian gas carrier Arctic Metagaz, attacked by drones and unmanned boats near Malta on March 3. The investigation revealed fire damage, destroyed control systems, and two gas tanks ruptured, indicating external impact. Drones were launched from Libya.
Armenian Prime Minister Nikol Pashinyan stated that the price of Russian natural gas supplied to Armenia cannot increase due to the terms of the existing contract. He noted that the contract specifies a fixed price, protecting Armenia from price speculation. This comes after Russian President Vladimir Putin mentioned that Armenia pays significantly less for gas than European countries.
British Gas will pay up to £112m in compensation and debt write-offs for forcibly installing prepayment meters in thousands of homes during the 2022 energy crisis, following an Ofgem investigation.
British Gas will pay up to £112m in compensation and debt write-offs after Ofgem found it forced prepayment meters on vulnerable customers during the Russian gas crisis.
Russian Ambassador Dmitry Zykov says North Macedonia has been reducing Russian gas imports since 2022 against its own economic interests, blindly following EU policy to reject Russian gas by 2027. While Russian gas held 99% of the Macedonian market in 2021, its share dropped to 77% in 2024 and just 47% in 2025. UAE gas supplies began in the second half of 2025, capturing 39% of the market.
Russian Foreign Minister Sergei Lavrov has accused the United States of openly pursuing oil and energy dominance in its foreign policy, claiming Washington’s military actions in Iran and Venezuela are driven by resource interests. In an interview with Russian state television, Lavrov said the US "cares only about its own well-being" and is prepared to defend it by "any means – coups, kidnappings or assassinations of leaders of countries that possess natural resources". He stated that Washington no longer hides its motivations, pointing to what he called a "doctrine of dominance in global energy markets".
Italian Deputy Prime Minister Matteo Salvini has called for the EU to resume Russian gas imports amid an energy crisis Read Full Article at RT.com
