Page 18 - European Union

Inflation hits record 8.9% in 19 countries using euro amid Ukraine conflict

Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices driven partly by Russia's war in Ukraine. Annual inflation in the eurozone's 19 countries rose to 8.9% in July, an increase from 8.6% in June, according to the latest numbers published Friday by the European Union statistics agency. Inflation has been running at its highest level since 1997, when record-keeping for the euro began. Energy prices surged by 39.7%, while food prices rose by 9.8% and other goods by 4.5%.

EU embargo on Russian gas 'impossible', says Austrian Chancellor Nehammer

Austrian Chancellor Karl Nehammer has said that an embargo on Russian gas in the European Union (EU) is "impossible" due to EU countries' heavy dependence on Russian energy

Saudi Crown Prince arrives in Greece, 1st EU visit since Khashoggi killing

Saudi Crown Prince Mohammed bin Salman arrived in Greece on his first trip to a European Union country since the killing in 2018 of Saudi journalist Jamal Khashoggi

European Union reaches deal to ration gas amid Russian cut-off fears

Approves draft law to cut gas demand by 15% from August through March

Amid slashed gas flow, EU struggles to cut its reliance on Russian gas

European Union nations struggled Monday to find common ground on how to wean the bloc off its reliance on Russian natural gas, as Moscow turns down the tap.

Spain, Portugal reject EU's proposal to limit natural gas use by 15%

The European Union's plan to reduce the bloc's natural gas use by 15 per cent to prepare for a potential cutoff by Russia this winter received sharp skepticism from the govts of Spain and Portugal

European Union heaves sigh of relief as Russia restarts gas supply

Russia says Ukrainian drone struck nuclear plant but caused no damage

Spain rejects EU's proposal to cut gas consumption by 15% amid concerns

The Spanish govt rejects the plan announced by the European Commission to cut gas consumption by 15 per cent in the coming months in view of the possibility that Russia will cut gas supplies to Europe

EU moves closer to imposing more sanctions on Russia as war drags

The European Union moved closer to imposing more sanctions on Russia after its 27 ambassadors backed a series of measures to ban gold imports

EU tells members to reduce gas consumption amid new Putin warning

Deliveries via Nord Stream 1, which accounts for more than a third of Russian gas exports to the EU, are due to resume on Thursday after a 10-day halt for annual maintenance

Putin warns EU that gas supplies could keep dwindling due to West's fault

Russian President Vladimir Putin said Tuesday that the flow of Russian natural gas to European customers has dwindled due to the West's own fault and warned that it could continue ebbing. Putin's statement further cranked up pressure on the European Union, which fears Russia could cut off gas to wreak economic and political havoc in Europe in the winter. Speaking to Russian reporters in Tehran, where he attended the talks with the leaders of Iran and Turkey, Putin said the amount of gas pumped through the Nord Stream pipeline to Germany will fall further from 60 million to 30 million cubic meters a day, or about one fifth of its capacity, if a turbine isn't quickly replaced. He added that Russia could launch the recently completed Nord Stream 2 pipeline that has never entered service, but noted that it would only have half of its designated capacity because the rest has been used for domestic needs. The Russian leader also warned the West that its plan to cap the prices of Russian

President Xi Jinping's Beijing invite ignored by top Europe leaders

Chinese Foreign Ministry denies the reports

Russian gas shutdown would send some EU countries into recession: IMF

IMF said Europe lacked a comprehensive plan to cope with shortages, further increases in energy prices and the impact on growth, The Guardian reported.

EU agrees additional 500 mn euros in military aid for Ukraine as war drags

The Foreign Ministers of the European Union (EU) member states have agreed to grant Ukraine an additional 500 million euros ($507.7 million) in EU military aid

EU approves 5th tranche of military aid to Ukraine worth 500 mn euros

The EU Council has agreed to allocate the fifth tranche of military assistance to Ukraine worth 500 million euros, European Council President Charles Michel said on Monday."I welcome @EUCouncil political agreement on the fifth tranche to #Ukraine under #EPF. #EU support in military equipment to Ukraine Armed Forces now at 2,5 billion EUR. Europe stands with Ukraine," Michel tweeted.Since the start of the "Russian military operation" in February in Ukraine, the EU has adopted six packages of sanctions against Moscow."Our measures already now target nearly 1,200 individuals and almost 100 entities in Russia as well as a significant number of sectors of the Russian economy. These sanctions were adopted in close coordination with the G7 member, and the fact that over forty other countries, including traditionally neutral countries, have also adopted them or taken similar measures enhances their effectiveness," said Josep Borrell, High Representative of the European Union for Foreign ...

EU zooms in on tighter Russia sanctions; backs military aid to Ukraine

The EU ministers are also looking at ways to add a ban on gold exports in hopes that the measures might finally start to have a decisive impact on the war in Ukraine.

North Macedonia parliament OKs deal to join EU; talks start from Tuesday

North Macedonia has approved a French proposal that opens the way for negotiations to join the EU and overcome Bulgarian objections. There were 68 votes in favour of the proposal in the 120-member chamber, with the leftist coalition, which has 61 seats, getting the backing of small ethnic Albanian parties. Opposition lawmakers left the chamber in protest, abstaining from the vote. Protesters gathered again outside Parliament, as they have done every day for 10 days, but the protest ended peacefully. Under the proposal, announced by French President Emmanuel Macron last month, North Macedonia would commit to changing its constitution to recognise a Bulgarian minority, protect minority rights and banish hate speech, as Bulgaria, an EU member since 2007, has demanded. The deal would also unblock the start of negotiations for neighbouring Albania, another EU hopeful. Macron had stressed that the proposal doesn't question the official existence of a Macedonian language, but he had note

EU to ban Russian gold imports in new sanctions package amid war

The European Commission has adopted a proposal for a seventh package of measures that will ban the importation of Russian gold

The new geopolitics of energy

Energy geopolitics have often been at the root of major conflicts

We could ban Russian fuel imports six months ahead of deadline: EU official

The EU has been reducing imports of Russian oil products since March, after Moscow sent thousands of troops into Ukraine, and agreed a full ban from February 2023