Editor’s note: Seymur Mammadov is a special commentator for News.Az and the director of the international expert club EurAsiaAz. The article reflects the author’s personal opinion and does not necessarily represent the views of News.Az.

In its 15th sanctions package, adopted by the EU Foreign Affairs Council, the European Union introduced measures aimed at protecting European companies and urged them to exit the Russian market as quickly as possible, News.az reports citing Ukrinform.

By Samir Muradov

In the first nine months of 2024 Russian pipeline gas exports to China surged by 23% compared to the same period last year, according to data from China's General Administration of Customs. The monetary value of Russian gas deliveries during this period reached $6.1 billion, underscoring a significant strengthening of ties between the two countries in the energy sector.

The shifting dynamics of the global energy market have placed Europe at a critical crossroads, where it must redefine its energy security strategies in response to a rapidly changing geopolitical landscape.

Russia’s export of oil and fuel went down by 290,000 barrels per day (bpd) in August 2024 year-on-year to 7 mln barrels per day (mbd), reaching the lowest level since March 2021, News.az reports citing TASS.

By News.Az

Russia continues to play a key role in the global oil products market, actively expanding its exports to the Asian region. In July 2024, there was a significant increase in the export of Russian fuel oil and vacuum gas oil (VGO) by sea, made possible by the completion of seasonal maintenance at domestic refineries. The volume of shipments reached an impressive 4.05 million tons, which is 7% more than in the previous month. The main importers of Russian fuel were China and Saudi Arabia, highlighting their growing demand for Russian energy resources.

Russian stock indices grew at the beginning of trading on the Moscow Exchange on Tuesday, News.az reports citing TASS .