... record rates, indicating upcoming shifts in consumption. Discussions on these issues are becoming particularly pertinent against the backdrop of global trends, such as the development of renewable energy sources and potential restrictions on gasoline exports. Energy Sector News – Friday, August 1, 2025: Brent Remains Above $72; European Gas Storage at Record Levels At the beginning of August, the global fuel and energy sector is showing moderate growth and signs of stabilization. Oil prices remain ...

... their baseline level in the coming months. Non-oil and gas revenues also grew by 26.9%, reaching 18 trillion rubles. Sources of Oil and Gas Revenues Oil and gas revenues are derived from mineral extraction tax (MET), additional income tax (AIT), and export duties. However, these are reduced by the amount of reverse excise payments to oil companies, factoring in damping and investment premiums. The largest share of oil and gas revenues comes from MET collections. In 2022, MET accounted for 71.7% ...

... market and what it means for Europe and global energy dynamics. The United States aims to capture a dominant share of the European energy market. Under a framework agreement between the U.S. and the European Union (EU), the total value of U.S. energy exports to the EU is projected to reach $750 billion over the next three years. Consequently, American imports in Europe’s energy mix could account for 67.5%. This shift requires the EU to completely eliminate its reliance on Russian energy supplies....

... India Western sanctions against the Russian diamond industry: In December 2023, the European Union imposed a ban on the import of Russian diamonds, effective from January 1, 2024. G7 countries also agreed on similar measures aimed at restricting the export of Russian diamonds. RIA Novosti RBC Despite India not officially joining these sanctions, fears of secondary sanctions and pressure from Western partners have led to a decrease in the volume of Russian diamond imports. Restrictions on dollar transactions: ...

... price increase affected the AI-95 grade of gasoline. The same could happen with winter diesel fuel. Nevertheless, the government has tools to control price hikes. The increase in gasoline prices has already led to the resumption of the ban on its export starting August 1. According to Deputy Prime Minister Alexander Novak, such a measure is not being considered for diesel fuel at this time. A diesel export ban would be a last resort, as Russia produces twice as much diesel as it consumes domestically,...