Italy's energy giant said the deal will have a "significant impact on the industry and the associated supply chain, allowing a significant contribution to the Libyan economy."
President Vladimir Putin's decree is seen as a retaliatory mechanism against countries that abide by the West's decision to impose a $60 per barrel price ceiling on Russian oil.
Rising energy and wheat prices have put many bakeries out of business as Europe’s largest economy struggles with the fall-out of the Russian aggression.
Moscow has long sought to build alternate gas routes such as Türkiye to supply energy to Western countries and decrease its dependency on European pipeline tracks.
Italy’s far-right PM frontrunner Giorgia Meloni has voiced her support for sanctions against Russia - but the coalition has shown cracks.
In a recent speech at a university in Prague, the German Chancellor outlined his vision of an expanded EU, but at a time of unstable economics, the idea could backfire.
The two sides have agreed to put the payment model into action in the "near future", says Russian President Putin
The EU leadership seeks to starve Russia of the funds it needs to finance its war with Ukraine, but that comes at a high cost.
As the conflict enters its 192nd day, Moscow says Kiev tried to capture the Zaporizhzhia facility and Turkish President Erdogan tells Russia's Putin that Türkiye could play a facilitating role on the nuclear plant standoff.
The last two months have seen a surge in ‘prosumers’ in Romania as the energy crunch sways the government into financing solar panel use.
The move comes as the country strives to wean itself off Russian natural gas in response to Moscow's attack on Ukraine.
EU member states agreed to cut gas consumption by 15 percent by March next year in an attempt to show a unified front against Russia. But implementing the deal won’t be easy.
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