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global energy crisis (2021–2023)

Moscow pushes US to ease more oil sanctions

Moscow pushes US to ease more oil sanctions

Moscow on Friday urged the United States to lift more sanctions on its oil exports to stabilise the global energy markets, upended by the war in the Middle East. The United States has eased some sanctions imposed over Russia's full-scale offensive on Ukraine, prompting backlash from Western

Moscow piles pressure on US over oil sanctions

Moscow piles pressure on US over oil sanctions

Moscow said on Friday that the global energy market "cannot remain stable" without its oil, piling pressure on Washington to lift more sanctions as the Middle East war strangles supplies. The United States has eased some oil sanctions on Russia imposed over its invasion of Ukraine, prompting backlash

G7 nations not yet ready to release oil stockpiles

(The Center Square) – G7 finance ministers said Monday they will take “necessary measures” to stabilize energy supplies but added there is no plan yet to release strategic oil stockpiles after prices for the vital commodity surged over the weekend to a 45-month high. In a teleconference with ministers early

War in Middle East raises stagflation fears in Europe and beyond

War in Middle East raises stagflation fears in Europe and beyond

Global energy prices have shot upwards after the US and Israel unleashed war in the Middle East, but just how far those shocks will ripple across the economy remains unclear. Still, the spectre of "stagflation" -- high inflation coupled with stagnant economic growth -- once again looms over the global

Mideast war exposes fragile oil, gas dependency

Mideast war exposes fragile oil, gas dependency

As in 2022 when Russia invaded Ukraine, the new war in the Middle East is exposing once again how far Europe and others lag in replacing imported fossil fuels with domestic solar and wind power, specialists say. The Russian invasion in 2022 triggered a massive energy crisis, particularly in Europe,