Russia is a major supplier of Europe’s gas and nuclear fuel
Russian invasion of Ukraine fuels crisis in energy sector
Sanctions and spiking electricity and gas prices present new challenges for Europe’s utilities
The EU has proposed further restrictive measures on Russia following its invasion of Ukraine, which will affect the financial, transport and energy sectors. EU sanctions currently cover Russian banks Bank Rossiya, Promsvyazbank and VEB, all 351 members of the State Duma who voted in favour of military action and 27 further individuals and entities. For Europe’s utilities, sanctions and wider market volatility may mean a significant shift in procurement strategies for nuclear and gas-fired power plants. Finnish energy company Fortum has “long business ties and broad operations in Russia”, the company notes in a press statement. It says that, since energy production in Russia has not yet been
Also in this section
19 June 2025
Andean country has become a leading destination for voluntary carbon credit investment, but challenges remain
18 June 2025
Gas Processors Association Europe brings together leading specialists at annual event in Netherlands to analyse the challenges and opportunities presented by technology at heart of Europe’s decarbonisation strategy
10 June 2025
Eni’s CCUS deal with BlackRock’s Global Infrastructure Partners reflects a growing belief among big investors in the CCUS growth story
3 June 2025
Africa faces challenges in adopting CCS but also has vast potential, with the technology being not just a climate tool but a catalyst for development
