Amid Ukraine war, IEA warns global energy shortage owing to economic sanctions on Kremlin

International Energy Agency head Dr. Fatih Birol, on Tuesday, warned that continued sanctions on Russia could lead to a global energy shortage. The statement comes as the Russia-Ukraine war transcends its first month and several countries including the US, the UK, Canada, Germany, and other European countries have imposed stringent economic sanctions on the Vladimir Putin-led country. He further confirmed the requirement to "ensure international energy security."

"The head of the International Energy Agency has warned that continued sanctions on Russia, and in particular on Russian oil, could lead to a global energy shortage. Fatih Birol said the situation in Ukraine 'confirms the need to ensure international energy security," Russia Today tweeted. 

Zelenskyy to set up expert team for analysing sanctions on Russia

Ukrainian President Volodymyr Zelenskyy in his video address on Tuesday announced that they will set up a team of experts at the President's office comprising Ukrainians and people from abroad who will analyse the sanctions that have been imposed against Russia. The development comes as the war between Russia and Ukraine continues for day 34. 

"Starting this week, we are creating a group of experts at the President's Office , Ukrainian and international, who will constantly analyze the sanctions against Russia - what they really influence. Our goal is for the sanctions to work as intended, Ukrainian President Zelenskyy said in a video address. 

Russia offers to conduct direct meeting between Putin and Zelenskyy 

As the sixth round of peace talks between Russia and Ukraine concluded in Istanbul on Tuesday, the Russian diplomat said that Moscow has offered to hold talks between President Vladimir Putin and Zelenskyy simultaneously with initialising peace treaties by Foreign Ministers of both countries. Russia has also received a "clearly articulated position" from Ukraine at Istanbul talks, the Russian delegation informed, adding that the Russian MoD has decided to reduce military activity in Kyiv and Chernihiv. Finalisation could take place in a one on one format. Also, after the 6th round of talks, Russian Defence Ministry has decided to reduce military activity in Kyiv and Chernihiv.