Last year was a big year for liquefied natural gas. Russia's decision to curtail pipeline gas supplies to Europe sent prices soaring and threatened to push Europe into recession.

Zelenskyy said that Russia's actions in the conflict have left the region devastated, with few people remaining alive. He added that the land near Soledar is covered in the corpses of Russian soldiers, and that the area bears the scars of the fighting.

Natural gas prices last year were driven up by fears of a supply shortage after Russia sharply reduced its exports to Europe.

Russia is planning to try and limit oil discounts using market principles. This move is likely to be aimed at improving the country's budget revenues. Russia is one of the world's largest oil producers, and so this could have a significant impact on global oil prices.

Russia's oil exports rose slightly last week, but not enough to prevent what appears to be a downward trend in the nation's shipments to a reduced group of buyers.