russian oil

A price cap and European Union embargo on most Russian oil have cut into Moscow's revenue from fossil fuels, but the Kremlin is still earning substantial cash to fund its action in Ukraine because the $60-per-barrel cap was “too lenient," researchers said on Wednesday, January 11, 2023.

Oil prices rose on Monday, December 5, 2022, as the first strong measures to limit Russia's oil profits over the war in Ukraine took effect, bringing with them uncertainty about how much crude could be lost to the global economy through the new sanctions or Russian retaliation.

Crude oil prices slumped to a 10-month low on Monday, November 21, 2022, morning before rebounding at midday, adding to the volatility that has dogged the Canadian energy sector recently.

Russia sent significantly more oil and coal to India and China over the summer compared with the start of the year, while European countries that long relied on Russian energy have cut back sharply in response to the war in Ukraine, said a report published on Tuesday, September 6, 2022.

Ukrainian campaigners call for an immediate end to investments, cut funds for Russia's war and help avoid climate breakdown.

Canada and Germany say a new hydrogen pact will kick-start a transatlantic hydrogen supply chain, with the first deliveries expected in just three years.

Prime Minister Justin Trudeau said the government is open to easing regulatory requirements for projects that would facilitate the export of Canadian natural gas to Europe, but questioned whether a business case exists for such investments.

An energy pact between Canada and Germany expected to be signed next week in Newfoundland and Labrador will set aggressive timelines and targets for exporting hydrogen to Germany, Natural Resources Minister Jonathan Wilkinson said on Friday, August 19, 2022.

Some energy experts warn a deal to sell Canadian hydrogen to Germany will serve as only a small, far-off and expensive part of the solution to Europe’s energy crisis.

With the drive for renewables leading to land-use conflicts, building highly efficient utility-scale solar farms on ever-smaller tracts of land has become a top priority. New approaches range from installing PV arrays that take up less space to growing crops between rows of panels.

Across Europe, signs of distress are multiplying as Russia’s war in Ukraine drags on. Food banks in Italy are feeding more people. German officials are turning down the air conditioning as they prepare plans to ration natural gas and restart coal plants.

The European Union relies heavily on Russia to supply nickel and other metals for electric vehicle batteries and other renewable technologies. War-related price increases and shortages of these metals could hinder Europe’s drive to sharply cut emissions by 2030 and beyond.

Group of Seven leaders considered a possible cap on the price of Russian gas exports on Monday, June 27, 2022, as a way to put the squeeze on the funding for Vladimir Putin's war with Ukraine.

Canada pledged $50 million to prevent Ukrainian grain from going to waste on Sunday as Prime Minister Justin Trudeau committed to work with G7 nations on further measures to halt the famine caused by the Russian invasion of the embattled country.

It’s not a summer heat wave that’s making European leaders and businesses sweat. It’s fear that Russia’s manipulation of natural gas supplies will lead to an economic and political crisis next winter. Or, in the worst case, even sooner.