Tag: EU

January 16, 2024

German inflation rose to 3.7% in December, up from the prior 3.2% in November. The HICP measure rose to 3.8%, up from 2.3% in November. The rise in the data was preceded by numerous warnings by prominent ECB officials that […]

December 1, 2022

The European Commission, the European Union’s executive body, has asked the bloc’s 27 member states to approve a price cap on Russian oil of $60 a barrel, according to people familiar with the matter. The cap would set Russian crude […]

October 5, 2022

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 […]

September 14, 2022

A top European Union official unveiled a plan Wednesday to cap the revenue of electricity producers that are making extraordinary profits because of the effects of Russia’s war in Ukraine and climate change, saying the proposal could raise $140 billion […]

September 9, 2022

European Union nations struggled to find common ground Friday on ways to shield the population from dramatically increasing energy prices that threaten to plunge millions into cold and poverty over the winter as Russia chokes off natural gas supplies. As […]

July 5, 2022

The International Energy Agency says high prices for natural gas and supply fears due to the war in Ukraine will slow the growth in demand for the fossil fuel in the coming years. In a report published Tuesday, the Paris-based […]

June 28, 2022

The Group of Seven major economies wants to impose a price cap on Russian oil exports. The challenge is enforcing it on buyers worldwide. The G-7 leaders said Tuesday after their summit they were exploring a ban on the provision […]

June 24, 2022

A day after endorsing Ukraine’s candidacy to join the European Union, the bloc’s leaders turned their attention Friday to the severe economic turbulence looming over the coming months as the full impact of Russia’s war sinks in and the threat […]

June 17, 2022

Hungary has discounted the price of gasoline at the pump. But not if you have a foreign license plate. It’s also taxing what it calls “extra profits” of industries including airlines, with carriers like Ryanair and EasyJet increasing ticket prices […]

June 9, 2022

The European Union will allow Spain and Portugal to use billions of euros in state aid to help ease the burden of spiraling electricity prices on consumers in the Iberian Peninsula as Russia’s war in Ukraine exacerbates an energy squeeze. […]

May 18, 2022

The European Union’s executive arm moved Wednesday to jump-start plans for the 27-nation bloc to abandon Russian energy amid the Kremlin’s war in Ukraine, proposing a nearly 300 billion-euro ($315 billion) package that includes more efficient use of fuels and […]

May 16, 2022

The European Union’s efforts to impose a new round of sanctions against Russia over the war in Ukraine appeared to be bogged down on Monday, as a small group of countries opposed a ban on imports of Russian oil. Since […]

May 6, 2022

Prime Minister Viktor Orban – no stranger to disputes with the bloc’s executive – told state radio he was ready to negotiate on any proposal that would meet Hungary’s interests. But he declared that what was on the table would […]

May 4, 2022

The European Union has proposed a total ban on Russian oil imports, including cutting out crude within six months, as it seeks to step up the pressure on the Kremlin over the invasion of Ukraine. European Commission President Ursula von […]

May 2, 2022

European Union antitrust authorities on Monday charged Apple Inc. AAPL -2.46%▼ with abusing its dominant position by restricting access to the technology underpinning contactless payments on its mobile devices, adding to the bloc’s efforts to clamp down on alleged anticompetitive […]

March 25, 2022

The United States and European Union on Friday announced a new partnership to reduce the continent’s reliance on Russian energy, a step top officials characterized as the start of a years-long initiative to further isolate Moscow after its invasion of […]

March 22, 2022

The European Union is moving toward the joint purchase of natural gas and ensuring its storage facilities are nearly full to try to avoid another crisis tied to its dependency on Russian energy, officials said Tuesday. The 27-nation bloc acknowledges […]

March 21, 2022

The most decisive action was to slap sanctions on the country’s central bank, preventing Moscow from getting its hands on a substantial chunk of the $643bn in reserves it has accumulated over the past decade. The United States and United […]

March 11, 2022

British and European regulators threatened to crack down on Google and Facebook parent Meta over an agreement for online display advertising services, saying Friday that the deal may breach rules on fair competition. The fresh scrutiny in Europe, which has […]

March 2, 2022

European Union representatives agreed to remove seven Russian banks from the Society for Worldwide Interbank Financial Telecommunication (Swift), the Belgium-based global financial messaging service, Bloomberg reported Tuesday, citing anonymous sources. The banks are VTB Bank, Bank Otkritie, Novikombank, Sovcombank, Promsvyazbank, […]