... 2025, Russian pipeline gas supplies through the Ukrainian gas transportation system have completely ceased after the expiration of the contract between Gazprom and Naftogaz. Southern Corridor Becomes Main Route: the only remaining operational route for Russian gas to the EU is the “Turkish Stream,” along with its continuation through Turkey and the Balkans. About 50 million cubic meters per day are transmitted through this route, partially compensating for the volumes lost from the northern routes. Shutdown ...

... and industrial consumers alike. Market participants are also closely monitoring the EU's further steps to enhance energy security – including discussions on updated regulations for mandatory storage filling and potential restrictions on remaining Russian gas imports. Outside Europe, new gas supply routes are emerging. In the Middle East, Turkey has commenced supplies of Azerbaijani natural gas to Syria – a notable development that diversifies energy supply in the region and partially fills the gas shortage ...

... situation will stabilize by the end of August once key refineries complete their repairs and return additional volumes of fuel to the market. Against a backdrop of relatively low global oil prices, Russia's export revenue is also declining. According to the Russian Ministry of Finance, total oil and gas revenues for the budget in the first seven months of 2025 fell by about 18–19% compared to the same period last year, totaling around 5.5 trillion rubles. The primary factor is the decrease in prices for Russian oil of the Urals brand, which remains ...

... security: Brussels has extended mandatory storage filling regulations for another two years (with the goal of at least 90% capacity by the beginning of each winter season). Additionally, discussions are underway at the EU level regarding new restrictions on Russian gas imports in an effort to finally reduce dependence on shipments from the RF. While fully abandoning Russian gas supplies in the short term is challenging (some countries, such as Hungary, still heavily rely on gas from Gazprom under long-term contracts),...

... mandatory filling of gas storage facilities for another two years (target—90% by the start of each winter season) to secure high reserve levels for future winters. Additionally, politically, the EU is discussing potential new restrictions on the import of Russian gas, reflecting a desire to finally reduce dependence on supplies from the Russian Federation. Russian Fuel Market: Export Ban and Price Stabilization Measures The domestic market for petroleum products in Russia faced a tense situation this summer due ...