Page 80 - European Union

EU adopts 8th package of sanctions for restrictive measures against Russia

The EU has adopted a new package of sanctions aimed at stepping up and reinforcing restrictive measures against Russia, the EU Council said in a statement

Leaders of Spain, Germany discuss ongoing energy crisis before EU summit

The leaders of Spain and Germany held talks in Spain Wednesday, two days before both participate in an European Union summit to discuss Europe's energy crisis derived from Russia's invasion of Ukraine. Spanish Prime Minister Pedro Snchez hosted German Chancellor Olaf Scholz in the northwestern city of A Corua. The two centre-left leaders were accompanied by 15 ministers from their governments. The EU summit in Prague on Friday will likely include discussions on Germany's plan to subsidise gas prices for its consumers and businesses, a move that has raised questions from France and Italy. Snchez said that he empathises with Germany due to its pressing need to find alternatives to Russian gas and oil, while adding that the EU should find common solutions. Both Snchez and Scholz support reforming the EU's energy market. The consequences of the war in Ukraine impact us all, but clearly it has a greater impact on the countries with a higher dependency on Russian carbon-based fuels so w

EU agrees on price cap for Russian oil over Ukraine conflict

European Union countries agreed on Wednesday to impose new sanctions on Russia after it illegally annexed four regions in Ukraine, according to an EU official, including an expected price cap on Russian oil. EU member-state diplomats struck the deal in Brussels, said the official representing the Czech Republic, which holds the 27-nation bloc's rotating presidency. No details of the sanctions were immediately released. They will be published as soon as Thursday. They are expected to include a price cap on Russian oil, curbs on EU exports of aircraft components to the country and limits on steel imports from it. The moves build on already-unprecedented European sanctions against Russia as a result of its war against Ukraine since February. EU measures to date include restrictions on energy from Russia, bans on financial transactions with Russian entities including the central bank and asset freezes against more than 1,000 people and 100 organisations. The EU is already planning to

European shares fall as selling pressure kicks in after recent gains

European indexes fell in early trading and US futures were down as selling pressure kicked in Wednesday after a few days of strong gains. Asian shares advanced, led by a nearly 6 per cent jump in Hong Kong's share benchmark as markets there caught up after reopening from a holiday. Easing concerns about interest rate hikes by central banks have helped push markets higher in the past few days, but worries over inflation persist. Britain's FTSE 100 fell 1.2 per cent to 7,002.15 ahead of a speech by British Prime Minister Liz Truss where she was expected to defend her economic plans, including tax cuts that have roiled markets. Truss says she will stick with her plan to reshape Britain's economy through tax cuts and deregulation in a bid to end years of sluggish growth and create a new Britain for the new era. France's CAC 40 fell 0.7 per cent to 5,996.89 in early trading, while Germany's DAX slipped 0.8 per cent to 12,574.14. The future for the S&P 500 was down 0.7 per cent while ..

Ahead of Czech meet, leaders fear brakes on European Union enlargement

Leaders from more than 40 countries meeting in the Czech capital on Thursday are set to launch a European Political Community aimed at boosting security and prosperity across the continent. But critics claim the new forum is an attempt to put the brakes on European Union enlargement. The Prague meeting is the brainchild of French President Emmanuel Macron and is backed by German Chancellor Olaf Scholz. It's taking place with Russia's war on Ukraine in its eighth month and as pressure builds to allow Ukraine to join the 27-nation EU. The war in Ukraine and the legitimate aspiration of its people, just like that of Moldova and Georgia, to join the European Union, encourages us to rethink our geography and the organisation of our continent, Macron said in May in a speech outlining his idea. But even with the outpouring of support for Ukraine in the form of weapons so it can fight back, or shelter for people fleeing Macron said, we all know perfectly well that the process which would

European Union adopts law requiring USB Type-C in iPhones by end of 2024

All devices that support fast charging will now have the same charging speed, allowing users to charge their devices at the same speed with any compatible charger

Pakistan PM Shehbaz Sharif thanks EU for 30 million Euro humanitarian aid

Pakistan Prime Minister Shehbaz Sharif expressed gratitude to the European Union for providing 30 million Euro humanitarian aid for the flood victims.Taking to Twitter, PM Sharif said, "Grateful to European Union, particularly @vonderleyen, President of @EU_Commission for the announcement of EUR30 million in new EU humanitarian aid for Pakistan.""Gravity of food & health challenges can be met through deeper cooperation from the world," he added.Earlier, the United Nations launched the revised flash appeal of USD 816 million to respond to the need of people affected by floods.The revised '2022 Pakistan Floods Response Plan' (FRP) was shared with UN member states and humanitarian organizations in Geneva, according to United Nations Office for the Coordination of Humanitarian Affairs (OCHA)."The revised appeal urgently seeks USD 816 million to respond to the growing lifesaving needs of the people - a jump of USD 656 million from the initial appeal of USD 160 million," the OCHA said

EU ministers agree to include energy self-sufficiency in recovery plans

The Ministers of Finance and Economic Affairs of the EU member states, meeting in Luxembourg, agreed to include energy self-sufficiency in their national recovery and resilience plans

Apple forced to change charger in Europe as EU approves overhaul

The new rules will make USB-C connectors used by Android-based devices the standard across the 27-nation bloc, forcing Apple to change its charging port for iPhones and other devices

High-level dialogue forum with EU to renew after decade-long freeze: Israel

Israel announced on Sunday that a high-level dialogue forum with the European Union (EU) will be renewed in Brussels on Monday after a decade-long freeze

New Greece-Bulgaria gas pipeline 'means freedom', says EU chief Leyen

The president of the European Union's executive arm travelled Saturday to Bulgaria for the opening of a natural gas link between the country and Greece, emphasising the EU's determination to stop relying on Russian energy imports. Speaking at a ceremony in Sofia, European Commission President Ursula von der Leyen hailed the pipeline as an important contribution to limiting opportunities for Russia to use its gas and oil reserves to blackmail or punish the EU. This pipeline changes the energy security situation for Europe. This project means freedom, von der Leyen told an audience that included heads of state and government from the region. The European Commission committed nearly 250 million euros to finance the project, von der Leyen said. The importance of the Gas Interconnector Greece-Bulgaria pipeline, which was completed in July, has significantly risen after Moscow decided to turn its natural gas deliveries into a political weapon. A second European pipeline started operatin

European Union approves energy windfall profit levies, says report

Ministers from the 27 EU member states approved levies on energy firms' windfall profits to try contain an energy price surge aggravated by Russia's war against Ukraine.

European Union demands clampdown on issuing visas to Russian citizens

The European Union's top migration official on Friday urged the bloc's 27 nations to clamp down on issuing visas to Russian citizens amid heightened security concerns over Russian President Vladimir Putin's nuclear threats and his annexation of parts of Ukraine. This is clearly an escalation and that means also an escalation of the security threat towards the European Union, Migration Commissioner Ylva Johansson said. She urged EU countries to enforce more stringent checks on Russian citizens and deny documents to anyone who might pose a threat. Over 194,000 Russian citizens have fled to neighboring Georgia, Kazakhstan and Finland often by car, bicycle or on foot since Putin last week announced a partial mobilization of reservists to bolster his troops in Ukraine. In Russia, the vast majority of men under 65 are registered as reservists. Johansson said EU authorities must stop short-term visa holders from Russia from renewing them in Europe. If a Russian person intends to stay ..

Comprehensive trade deal with EU could make India an export hub: Mercedes

In June, the EU and India relaunched talks for a free trade agreement with the aim of completing them by the end of 2023

EU adopt windfall levy to manage energy crisis, no deal on price cap

European Union energy ministers on Friday adopted a package of measures to soothe the energy crisis, including a windfall levy on profits by fossil fuel companies, but a deal on capping gas prices remained off the table. With energy prices skyrocketing across Europe since the Russian invasion of Ukraine, EU member countries reached a deal on proposals from the European Commission that the bloc's executive arm said could help raise USD 140 billion to help people and businesses hit by the crunch. The measures include a levy on surplus profits made by companies producing or refining oil, gas and coal. The two other main elements of the plan are a temporary cap on the revenues of low-cost electricity generators such as wind, solar and nuclear companies, as well as an obligation for the 27 EU countries to reduce electricity consumption by at least 5 per cent during peak price hours. The text should be adopted next week and enter into force soon after. Estonian Economic Affairs and ...

Inflation hits 10% in 19 EU nations using euro, electricity prices up

Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar, signalling a looming winter recession for one of the globe's major economies as higher prices undermine consumers' spending power. Consumer prices in the 19-country eurozone hit a record 10 per cent in September, up from 9.1 per cent in August, EU statistics agency Eurostat reported on Friday. Only a year ago inflation was as low as 3.4 per cent. Price increases are at their highest level since record-keeping for the euro started in 1997. Energy prices were the main culprit, rising 40.8 per cent over a year ago. Food, alcohol and tobacco jumped 11.8 per cent. Inflation has been fuelled by steady cutbacks in supplies of natural gas from Russia and by bottlenecks in getting supplies of raw materials and parts as the global economy bounces back from the COVID-19 pandemic. The Russian cutbacks have sent gas prices soaring to the point where ...

European Union urges Israel, Palestine to defuse West Bank tension

The European Union (EU) is exerting efforts to defuse the escalating tension between Israelis and Palestinians in the West Bank, an official announced

EU vows retaliation if energy network attacked after gas pipeline damage

The European Union suspects that damage to two underwater natural gas pipelines was sabotage and is warning of retaliation for any attack on Europe's energy networks, EU foreign policy chief Josep Borrell said on Wednesday. All available information indicates those leaks are the result of a deliberate act, Borrell said in a statement on behalf of the 27 EU member countries. Any deliberate disruption of European energy infrastructure is utterly unacceptable and will be met with a robust and united response. Seismologists reported on Tuesday that explosions rattled the Baltic Sea before unusual leaks were discovered on two underwater natural gas pipelines running from Russia to Germany. Some European leaders and experts pointed to possible sabotage given the energy standoff with Russia provoked by the war in Ukraine. The three leaks were reported on the Nord Stream 1 and 2 pipelines, which are filled with natural gas but are not delivering the fuel to Europe. The damage means that

Putin to proclaim formal annexation of Ukrainian territory in days

European Union likely to place trade sanctions on Moscow over 'sham' votes

EU buys additional vaccine doses against monkeypox despite declining cases

The European Commission said it had secured over 10,000 tecovirimat vaccines against monkeypox, despite the declining number of cases in the European Union (EU)