US and European officials are finalizing a wide-ranging package of sanctions against Russia if it invades Ukraine and targets major Russian banks, but does not exclude Moscow from the Swift system, according to US and European sources. The sanctions on the table also include controls on exports of Russian-made components to the technology and defense […]
Tag: Europe
Boris Johnson tells allies he ‘fears for Europe’s security’
The Prime Minister of the United Kingdom Boris Johnson said today during a teleconference with his allies on the situation in Ukraine that he “fears for the security of Europe”. “The prime minister has told the group that he fears for the security of Europe in the current context,” his spokesman said after a teleconference […]
The European Commission raises the 2022 inflation forecast to 3.5% from the previous 2.2%
The European Comission announced Thursday that raises the eurozone inflation forecast for 2022 to 3.5% from 2.2% in November, as reported by Reuters. By 2023the Commission sees inflation in the 2.2%compared to 1.7% in November. The publication also showed that the growth forecast for 2022 revised down to 4% from 4.3%. “Multiple headwinds have chilled […]
DW: Without Gazprom, Europe is paralyzed
How dependent is the EU really on Russian gas? What is the role of the Russian giant Gazprom in the European energy market? Response of Berd Riegert from Brussels. One of the biggest winners of the energy crisis is Gazprom. The Russian state monopoly giant broke the profit record in 2021, announced in early January […]
Japan diverts LNG shipments to Europe, some already heading there
LAST UPDATE: 13.29 Japan announced today that it will deliver some of its liquefied natural gas (LNG) imports to Europe, in the face of the risk of disrupting the region’s Russian gas supply in the event of escalating tensions over Ukraine. The tankers, originally destined for Japan to transport LNG, are already heading to Europe […]
What will be the cost to Russia if Nord Stream 2 is not approved and where will Europe turn to for gas?
By Ken Silverstein US President Joe Biden and German Chancellor Olaf Soltz made it clear during their meeting at the White House yesterday that the Russian Nord Stream 2 gas pipeline would not be approved if Russia invaded Ukraine. But what will be the cost in such a case for Russia and where will Europe […]
European gas rises after Biden warns of Nord Stream 2
European gas is on the rise as Russian flows through a key route have been reduced and US President Joe Biden has said the Nord Stream 2 pipeline will not go ahead if Russia invades Ukraine. The benchmark for gas in the Netherlands rose up to 4.3% to 83 euros per megawatt hour, according to […]
FAZ: ‘On a tightrope’ Erdogan
The gas crisis in Europe, Erdogan’s visit to Kiev and the political dimensions of the Olympic Games starting today in Beijing in the press. Post in Frankfurter Allgemeine Zeitung Commenting on the Turkish president’s sixth visit to Kiev since 2019 and Turkey’s efforts to prevent a military conflict between Ukraine and Russia: “Erdogan pledged his […]
Bloomberg: In the midst of an energy crisis, Europe is losing nuclear energy
As the Fukushima disaster in Japan unfolded in 2011, then-German Chancellor Angela Merkel made a dramatic decision that excited her country’s anti-nuclear movement: all reactors would be shut down. What could not have been predicted, according to Bloomberg, was that Europe would be plunged into one of the worst energy crises in its history. A […]
Euro markets closed in the ‘red’ – Weekly drop of 1.8% for Stoxx 600
The European markets closed in “red” on Friday in a week with strong volatility in the aftermath of the monetary policy decisions of the US Federal Reserve. Markets have seen sharp changes this week as the Fed prepares to abandon its zero-interest rate policy in the coming months in a series of rate hikes to […]