The Kremlin has apparently expressed regret over the European Union’s decision to ban Iranian oil imports and introduce other economic sanctions. Tehran has accused Europeans of waging ‘psychological warfare’ against the regime and added that, ‘if America seeks adventures after the closure of the Strait of Hormuz, Iran will make the world unsafe for Americans in the shortest possible time’. Bloomberg reports that Iran has asked India to pay for oil partly in yen as the two nations seek a way of circumventing global sanctions. BP, the British government and the European Union have apparently lobbied U.S. lawmakers to exempt the BP-led Shaz Deniz oil and gas project from proposed new US sanctions. Gazprom’s chief has suggested that Japan is the probable market place for LNG from the colossal Shtokman field in the Barents Sea. The lack of ice in the Baltic Sea might be good news for oil companies, but it is hitting aframax firms hard. Are there any hidden advantages to climate change? wonders the Washington Post. Bulgaria’s antitrust watchdog has approved the purchase of another seven filling stations by Gazprom-owned NIS Petrol EOOD. Energy Minister Sergei Shmatko attempts to keep voters sweet with a pledge to freeze gas and electricity prices until after the elections.