Cold War Relic Threatens Europe’s Plans to Ditch Russian Oil
Berlin risks running out of fuel unless German officials can find a way to keep a Cold War relic from falling victim to geopolitics. A refinery on the Polish border, Continue Reading
EU to map out escape route from Russian fossil fuels
The European Commission will on Wednesday unveil a 210 billion euro plan for how Europe can end its reliance on Russian fossil fuels by 2027, and use the pivot away Continue Reading
Four EU countries to increase offshore wind power capacity tenfold
Germany, Belgium, the Netherlands and Denmark will on Wednesday announce a joint pledge to build at least 150 gigawatts (GW) of offshore wind in the North Sea by 2050, Danish Continue Reading
Hungary needs EU cash to diversify energy supply, Poland says
Hungary needs European Union funds to be unlocked to diversify its energy supplies, Poland’s president said on Tuesday, offering some support to a country that has blocked a proposed EU Continue Reading
European Gas Rises With Buyers Still Unsure About Ruble Payments
Natural gas prices in Europe rose as buyers try to unravel mixed signals from Brussels about how they can keep paying for Russian supplies just days before bills come due. Continue Reading
Britain’s Inflation Rate Surges to a 40-Year High of 9%
Is the UK’s Leveling Up Plan Just a Slogan? Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast . UK inflation rose to Continue Reading
Europe’s push to cut Russian gas faces a race against winter
While Europeans bask in the warmth of spring, governments are in a race against winter. Europe is trying to cut use of Russian natural gas because of the war in Continue Reading
Russia jumps to 4th position as oil supplier to India – tanker data
Russia became the fourth-largest oil supplier to India in April, with volumes set to rise further in coming months as low prices spur demand from the world’s No. 3 oil Continue Reading
EU clarifies how companies can legally pay for Russian gas
The European Commission has confirmed how European Union companies can pay for Russian gas without breaching the bloc’s sanctions against Russia, in updated guidance on the issue seen by Reuters. Continue Reading
Russia’s Inter RAO to halt power exports to Finland due lack of payment
Russian state-owned utility Inter RAO will stop exporting electricity to Finland from Saturday because it has not been paid, the company’s Finnish subsidiary said on Friday. Inter RAO has not Continue Reading