This week, US Secretary of State Antony Blinken and European Union High Representative Josep Borrell will be meeting in Washington to discuss providing energy to Ukraine as the crisis brews. The two have also launched a new energy council. 

"The EU-US Energy Council will be crucial to take forward cooperation on energy security and the joint commitment to accelerate a just and clean energy transition to climate neutrality for citizens of the EU, the United States, and around the globe," the EU said in a press release last week. "The event comes at a pivotal moment for addressing energy supply to address the availability of natural gas and volatile prices."

On Monday a bilateral meeting will be held between the two, followed by a meeting that includes EU Commissioner for Energy Kadri Simson and US Energy Secretary Jennifer Granholm, according to Borrell's office last week.

Biden and Ursula von der Leyen, the EU president, said in a joint statement last January that the new council will be a chance to make advancements in encouraging energy producers to increase supplies. 

The project aims to decrease Europe's dependency on Russian gas: Moscow supplies 40% of Europe's yearly consumption. If the US and EU were to tighten sanctions on the major power, Europe would have to find an alternative. Washington, recently, has also turned to Qatar to find solutions. 

Read more: Analysis: Russian gas cutoff could spark a global economic crisis, Qatar and US work

Borrell, in addition, will be meeting members of the US Senate Committee on Foreign Relations on Tuesday. The Committee has been working on piecing sanctions against Moscow in case of a military escalation with Ukraine. 

However, US media reported that sanctions on Russian energy are off the table for now.