Ocean Energy Europe (OEE) has signed a joint letter supporting the objectives of the REPowerEU Plan to phase out Europe’s dependency on fossil fuels faster, calling also for ‘bolder action’ on the accelerated roll-out of renewable energy.

Russia widened its gas cuts to Europe on Tuesday with energy giant Gazprom turning off supplies to top Dutch trader GasTerra escalating the economic battle between Moscow and Brussels.

The European Union leaders have decided to ban almost 90 per cent of Russian oil imports by the end of the year following an agreement on the sixth round of sanctions against Russia due to its invasion of Ukraine.

Norwegian state-owned energy giant Equinor has checked all the required items on the list to exit its joint ventures and projects in Russia as a result of the country’s attack on Ukraine.

Following Russia’s invasion of Ukraine, the European Union has proposed a ban on all Russian oil imports, aiming to phase out Russian crude oil within six months and refined products by the end of the year.