Russia has managed to avoid defaulting on its international debt so far despite unprecedented Western sanctions. But the task is getting harder and Moscow’s threats to cut Europe’s gas supply Continue Reading
Residential housing in the village of Montieri, Italy. Italian inflation surged to the highest in three decades as energy prices continued to rise following Russia’s invasion of Ukraine. Prices increased Continue Reading
European countries are weighing new steps to raise pressure on Russia’s economy including targeting more banks and other family members of oligarchs, say diplomats and officials familiar with discussions. The Continue Reading
Russia’s invasion of Ukraine will cause their economies to contract this year by about 10% and 20%, respectively, the region’s leading development bank said Thursday in one of the most Continue Reading
Russia’s economy will shrink by 10 percent this year as the war in Ukraine and western sanctions inflict the deepest recession since the early 1990s, according to the European Bank Continue Reading
Russia’s demand that Europe pays for gas in rubles has been written off as “unacceptable.” European leaders agree that changing the currency of the payments would be a breach of Continue Reading
Rising temperatures caused by climate change have forced the U.K.’s weather agency to raise the threshold for what counts as a heatwave. The government-backed Meteorological Office currently uses historical weather Continue Reading
Russian gas deliveries to Europe on three key pipeline routes showed a slight upward tick on Wednesday morning including the resumption of westward flows on the Yamal-Europe pipeline to Germany, Continue Reading
Russia’s top lawmaker warned the European Union on Wednesday that if it wanted Russian natural gas then it would have to pay in roubles, and cautioned that oil, grain, metals, Continue Reading
Germany triggered an emergency plan to manage gas supplies in Europe’s largest economy on Wednesday, an unprecedented move that could see the government ration power if there is a disruption Continue Reading
