The Russian gas giant could once bring countries to their knees by cutting off energy supplies, until Europe stopped buying its product.

Russia's Gazprom Neft transferred stakes of around 5.15% in Serbia's NIS oil company to Gazprom , in an attempt to ward off U.S. sanctions that could result in crude supply cuts for the Balkan country.

Czech utility CEZ said on Wednesday it won an arbitration case against Russia's Gazprom in which it had sought damages exceeding 1 billion crowns ($42.16 million).

OMV, a multinational energy company based in Vienna, has shifted to other options, including increasing its own output of natural gas, drilling for oil and experimenting with geothermal energy.

Earlier this week, European soccer body Uefa released the list of candidates running for a seat on its influential executive committee at its congress in April. Ther

The Baltic LNG complex "Portovaya" came under US sanctions in January, as did the gas carriers serving it. Loaded vessels are changed names and operators to resume delivery from the factory.

India ramped up crude oil supplies from non-traditional sources such as Nigeria, Brazil and others to shield itself from the geopolitical uncertainties.

Russia will no longer have a seat on the influential UEFA executive committee after its elections in six weeks’ time.

Russia’s gas giant Gazprom was once so enormous it was called the country’s “second budget,” with huge revenue and outsize domestic and foreign influence. It handily weathered challenges ...