In 2025, a Canadian firm found a major oil and gas field off Poland’s Baltic coast, the biggest since WWII, sparking German fears for the environment and tourism.
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Earlier this year, European Commission President Ursula von der Leyen proposed a full ban on maritime services for Russian oil tankers. But an extraordinary combination of factors has plunged the sanction into political limbo. Here’s how the plan went awry.
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Oil and gas giants raked in massive spring profits while fighting between Iran and the US impeded petroleum shipments and consumers around the world paid more for fuel and confronted shortages.
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Oil prices were lower on Monday morning after OPEC+ boosted production for September and US President Donald Trump called off a planned strike on Iran, putting downward pressure on prices.
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Iraqi Prime Minister Ali Zeydi visited Ankara for his first talks with Erdoğan since taking office, offering to supply Turkey with 1 million barrels of oil per day as Ankara seeks to reduce its dependence on disrupted Gulf routes.
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