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The EU is proposing to sanction Russia's oil-shipping giant Sovcomflot in a move to limit the Kremlin's ability to finance its war against Ukraine.

The EU's measures to tackle the energy crisis may fall short of their intended goals, at least regarding renewable energy ambitions.

Producers of Russian crude are finding it increasingly difficult to sell barrels in their traditional European market.

The European Union placed sanctions on more than two dozen vessels, including 17 that hauled oil for Moscow.

The EU's sixth sanctions package on Russia, combined with existing plans, implies an end to over 90 percent of Russian oil sales to the EU by the end of 2022.

The eurozone faces a grim winter as a recession bites just as double-digit inflation grips the region and war rages nearby.

The plan to intervene in the market, unveiled by the European Commission last month, has caused a deep rift among member states.

Offers from international natural gas suppliers exceeded volumes placed by buyers in the EU by nearly three times in the first tender for the new AggregateEU.

European Union diplomats are set to meet Friday evening to see if they can hammer out a final deal.

The EU has adopted an energy efficiency directive mandating member countries to curb energy consumption by 11.7 percent by 2030.