In this article, the International Energy Agency (IEA) examines the position of Russian energy supply in the global markets and what the Russian invasion of Ukraine implies for markets that have been dependent on Russian supply such as Europe in terms of its natural gas requirements. Case in point, the share of Russian gas in meeting the European Union’s and United Kingdom’s (indirectly) gas demand increased from 25% in 2009 to 32% in 2021. Russia also figures significantly in the oil markets being the third-largest producer and the world’s largest export of oil in the global market. It is also the second largest crude oil exporter next to Saudi Arabia. Find out more in the article. The IEA also issued a 10-point plan to reduce Europe’s reliance on Russian natural gas. It outlines options to cut ties with Russian supplies including ceasing any new gas contracts, diversifying its sources, instituting market resilience, hastening the deployment of new wind and solar projects, maximizing generation from bioenergy and nuclear, protecting vulnerable electricity consumers from surge in prices, speed up replacement of gas boilers with heat pumps, accelerate energy efficiency improvements in buildings and industry, temporary thermostat adjustment by consumers, and intensify efforts to diversify and decarbonize source of power system flexibility.