Oil’s position is getting stronger despite the green transition. We thought that cheap oil would gradually work itself out of the global energy market through green policies, and decreased revenue for oil producers would follow. But the reverse is currently the case. Oil is regarded as a dirty fuel, and the enemy of nature due to its impact on climate change. But now, its positioning looks very attractive. All countries are eager for oil. It is quite certain that only sufficient oil will ease global inflation. Major oil producers are now key global actors. The EU’s determination to reverse dependence on Russian fossil fuels (oil, gas, and coal) is only exacerbating these circumstances. Currently, the EU is discussing its sixth package of economic sanctions against Russia. However, they are divided on whether a total embargo on oil will happen despite announcing the ‘RepowerEU’ plan to entirely cut Russian energy imports within five years. i.e. by 2027.