Page 12 - European Union

European Union to provide Albania with 80 mn euros to tackle energy crisis

The European Union (EU) will provide 80 million euros ($79.7 million) in grants to Albania to tackle energy crisis, European Commission President Ursula von der Leyen said here.

ECB raises interest rates by 75 basis points to fight record inflation

With this, it has increased policy rate by 1.5 per cent, the highest in a decade

EU to tighten gun trade laws as Ukraine war fuels fear of illegal arms

The European Union on Thursday moved to tighten laws governing the trade and transport of guns to help keep illicit firearms out of the hands of criminal gangs amid concerns that the war in Ukraine could increase the spread of illegal weapons. The EU's executive branch, the European Commission, estimates that around 35 million illicit weapons are in hands of civilians across the 27-nation bloc. Around 630,000 firearms are listed as stolen in the EU's security and border database. The commission's crackdown would involve clearer, common procedures for the import, export and transit of firearms and ammunitions. An electronic licensing system would be set up for import and export applications to replace the slower paper-based systems most countries have. Stricter standards would be imposed on the manufacture of alarm and signal weapons, which fire things like blanks or tear gas. Such arms were converted by extremists and used in the bloody 2015 Paris attacks and the killing of staff at

EU to provide $504 mn in grants for Western Balkans to tackle energy crisis

The European Union (EU) will provide 500 million euros ($504 million) in grants for the Western Balkan countries to tackle energy crisis, European Commission chief Ursula von der Leyen said here

EU proposes tougher pollution rules to eliminate harmful pollutants by 2050

The European Union's executive arm sought on Wednesday to toughen up pollution restrictions to ensure that harmful pollutants are eliminated by 2050 to potentially save the lives of hundreds of thousands of people. The European Commission's proposals centre on air, waste and water pollution, and need the backing of the EU parliament and member states before they can be made mandatory. That is likely to take many months. Air pollution is the biggest threat to the bloc's 450 million citizens. The proposals include the doubling of limits to permissible fine air particles by 2030. Such particles make up a significant part of air pollution overall, which the EU says is killing nearly 300,000 people a year. Because effective enforcement of pollution rules has so far proven difficult, the proposals will empower ailing citizens to seek legal redress with better compensation rights and collective action to seek damages. On just air pollution, the Commission estimates that as much as 121 ...

Apple confirms use of USB-C charging for iPhones after EU's legislation

Apple Executive Greg Joswiak has confirmed that the tech giant will use USB-C charging port for iPhones

EU, US set up task force to resolve feud over electric vehicle batteries

The U.S. and the European Union have set up a task force tasked with resolving a dispute over electric vehicle batteries that the EU says would discriminate against manufacturers in the 27-nation bloc and break World Trade Organization rules. Under the Inflation Reduction Act (IRA) passed by U.S. Congress in August, electric car buyers are eligible for a tax credit of up to $7,500 as long as the vehicle runs on a battery built in North America with minerals mined or recycled on the continent. The EU believes that the measure is a potential trans-Atlantic trade barrier discriminating against foreign producers. The EU announced on Wednesday that Bjoern Seibert, the head of cabinet to European Commission President Ursula von der Leyen met in Berlin with U.S. Deputy National Security Advisor Mike Pyle to launch the task force. A first meeting will take place next week. The Task Force will address specific concerns raised by the EU related to the IRA," the Commission said. Both sides ..

EU set to adopt emergency package in Nov to tackle current energy crisis

A package of emergency energy measures proposed by the European Commission last week to mitigate the effects of the current energy crisis should be adopted by November end, senior officials said

Moscow bans more EU figures from entering nation for anti-Russian actions

The Russian Foreign Ministry barred more persons of the European Union member states from entering Russia in response to their "anti-Russian" actions

EU energy ministers seek way forward for more energy unity amid war

European Union energy ministers on Tuesday started seeking some common ground to flesh out the barest of tentative agreements that their leaders could find last week to soften the blow of an energy crisis for their citizens while maintaining a united front during Russia's war in Ukraine. With winter approaching, home energy bills piling up and some businesses teetering on the brink of bankruptcy, there is a popular outcry for the 27-nation bloc to move much faster. But the fluctuating global energy markets and different energy mixes among member states ranging from nuclear to natural gas and other fossil fuels make smart, lightning-quick decisions nearly impossible. We have to be fast. And I will not hide that I am slightly disappointed that we are not going as fast forward as possible, said Czech Deputy Prime Minister Jozef Sikela, who chaired Tuesday's meeting. There is urgency, because our industries are destabilized and can no longer face international competition, French Ener

Russian oil logistics in chaos with weeks until EU sanctions bite

With about six weeks until the bloc's measures enter into force, little clarity exists on whether these steps will really suffice to help Russia to get much of its output to fend off a supply shock

EU leaders agree on roadmap to protect consumers from rising energy prices

Leaders of the European Union (EU) member states have agreed on a 'roadmap' of measures to protect European consumers from soaring energy prices

Eurasian Economic Union members gather to promote economic integration

The five member states of the Eurasian Economic Union (EEU) have vowed to enhance cooperation in various fields during a meeting in Armenia's capital Yerevan

After a 9-year gap, India-EU free trade negotiations to see new dawn

As India-EU marks 60 years of bilateral relations the new free trade agreement negotiations can deliver what proved to be impossible 9 years ago, said European Parliament member Kathleen Van Brempt

EU to provide Ukraine with 18 bn euros amid refugee exodus concerns

European Union leaders on Friday gave the green light to a plan to provide Ukraine with 18 billion euros (dollars) in financial support over the next year, after President Volodymyr Zelenskyy warned that Russia is trying to spark a refugee exodus by destroying his country's energy infrastructure. The plan, endorsed at a summit of EU leaders in Brussels, would see the 27-nation bloc match US financial support for war-ravaged Ukraine in monthly installments. Ukraine is telling us that they need approximately 3-4 billion euros per month to have enough resources for the basics, European Commission President Ursula von der Leyen said. She said that figure would be met in equal part by the EU and the US, plus additional money from international financial institutions. It is very important to Ukraine to have a predictable and stable flow of income, von der Leyen told reporters. She said the EU is looking to provide about 1.5 billion euros each month, describing it as a funding amount that

EU leaders weigh support for Ukraine as new refugee exodus beckons

European Union leaders are gathering on Friday to take stock of their support for Ukraine after President Volodymyr Zelenskyy warned that Russia is trying to spark a refugee exodus by destroying his war-ravaged country's energy infrastructure. Nearly eight months into the war, Russia is increasingly targeting Ukraine's power stations, waterworks and other key infrastructure with missile and drone strikes. Meanwhile, the EU is struggling with the fallout of having to urgently wean itself off Russian gas and oil as the war fuels price hikes and market nervousness. In a speech via video link to European leaders in Brussels on Thursday, Zelenskyy said that attacks by Russian cruise missiles and Iranian combat drones have destroyed more than a third of our energy infrastructure. Because of this, unfortunately we are no longer able to export electricity to help you maintain stability. Russia also provokes a new wave of migration of Ukrainians to EU countries, by attacking electricity and

European Union leaders avoid deep rift on gas price cap at energy summit

European Union leaders struggled to find immediate practical solutions on how to deal with the energy crisis but avoided an open rift between Germany and France on Friday that would have exposed a divided bloc as it confronts Russian President Vladimir Putin over his war in Ukraine. After daylong talks in Brussels dragged well into the night, the 27 EU leaders papered over divisions between some of the biggest member states and at least agreed to continue working on ways to impose a gas price cap in case of big price increases. French President Emmanuel Macron highlighted his work with German Chancellor Olaf Scholz to create a veneer of unity after talks that started early Thursday. He said that together with close technical advisers, I will see Chancellor Scholz in Paris next week so that we can move forward, with our teams, on all the issues. Scholz said the main issue was curbing spikes in gas trading that may last only a few hours but still send prices excessively upward. He sai

Europe Is Buying Up Cheaper Brazilian Ethanol Amid Energy Crisis

Prices for natural gas and power are so high in Europe that some ethanol makers have considered shutting down plants

EU leaders united against Russia, divided over today's energy summit

The European Union has shown rock-solid unity in confronting Russia over its war in Ukraine, but EU leaders lack that common purpose heading into Thursday's summit to seek joint measures to contain an energy crisis that has already dented their economy and threatens to spread hardship among the bloc's 450 million people this winter. Natural gas prices spiraled out of control over the summer as EU nations sought to outbid one another to fill up their reserves for winter. Now EU leaders will seek to increasingly pool their purchases of gas and set a temporary price cap to make sure an overheated energy market does not return to haunt them again. The 27-nation bloc hit Russia with a series of economic sanctions since the Feb. 24 invasion of Ukraine. Russian President Vladimir Putin has responded by choking off pipelines that used to send plentiful oil and gas to stoke the wheels of industry across much of the EU. Russia has systemically tried to blackmail us through energy, said EU ...

'Joe Biden's climate act will tip level playing field between US and EU'

Senior French and German officials warned Wednesday that recent measures by the Biden administration to address climate change and boost the American economy could upend the level playing field on trade between the European Union and the United States. The EU has criticised the legislation, approved by Congress in August, for including clauses that it says discriminate against European automakers. We need to work on adequate European responses to this American Inflation Reduction Act, which might jeopardize the developing field between our two continents, French Economy and Finance Minister Bruno Le Maire said after talks with his German counterparts. Asked what such a response might entail, Le Maire said, We are not talking about tit for tat." But he told reporters that France wanted to explore all the options with our European partners." We should seize any opportunity that we have to talk to the U.S. administration and to explain very clearly that we do not want to be hit by the