The Hungarian government has published a 432-page program with details on 68 investments to be implemented from the EU’s HUF 5.9 trillion recovery program. Interestingly, the government plans to devote 51% of the total sum to environmental protection goals, compared to the mandatory minimum of 37%. It will
Sustainable-bond issuance surged to a record high in the first quarter as more countries and companies looked to tap into growing demand from investors across the globe. Environmental concerns have risen for many investors in recent years as the world steps up its transition to a low-carbon economy, while the
After 14 hours of negotiations concluded Wednesday in the early hours, representatives of the member states agreed to cut emissions 55% by 2030 compared to 1990 levels. Europe aims to become climate neutral by 2050, and by reaching an agreement they found a legally binding way to enshrine that objective
651,000 doses of COVID-19 vaccines will be donated from the European Union’s joint procurement to vaccinate healthcare workers in six countries in the western Balkans. The announcement comes weeks after China and Russia distributed millions of doses of their domestic jabs in the region. “With this initiative, we
Given the countries’ geographical proximity to one another, Slovak-Russian relations are a mixed bag, characterized by energy dependence on the one hand, and low-level trade on the other. Their luke-warm ties are underpinned by Bratislava’s sometimes firm, sometimes flexible stance toward Moscow. Slovakia was formerly a part of Czechoslovakia
Russian energy ties in Serbia and Moscow’s support to Belgrade vis a vis Kosovo add up to Serbia not intending to give up on its partnership with Russia very easily, despite its keenness on moving ahead with EU accession talks. But Serbia’s president appears to be getting closer
Within the EU, Romania is a hardliner against Russia, and a country almost immune to Russian pressure in Eastern Europe. New developments, especially the election of a new, pro-Romanian president in Moldova, raise the risk of further deterioration of Russo-Romanian relations, which have never been seamless. Romania was one of
Moscow has used Hungary as a gateway to the EU and consistently uses Russian finances to maintain the goodwill of the Orbán government. During the decades of the Cold War, Hungary was heavily dependent on the Soviet Union, both economically and politically. However, this has changed following the political transition
Historically, Warsaw has maintained the strongest stance against Russia’s efforts to gain political and economic influence, although it’s Poland’s 12th most important trading partner. Regardless of the government composition in Warsaw, Poland is resolute in its antipathy towards Moscow and views it as a threat. Poland was
Despite its historical dominance in Eastern Europe and geopolitical proximity to the EU, Russia remains a low-key trading partner for Europe, except when it comes to energy. Relations between Moscow and most EU member countries are best characterized as pragmatic, with both sides looking for mutual benefits and avoiding major
As a clean-burning fuel, hydrogen is considered a key element in the EU strategy for decarbonizing Europe’s economy. At a conference last week dedicated to the topic, European energy ministers said that to draw investment for things like hydrogen production and distribution, the industry needs predictability, meaning that a
Changes to how multinational companies and giant tech firms are taxed globally may be on the horizon, resulting in a curbing of investment in lower corporate tax jurisdictions. In the wake of the US Treasury secretary’s recent proposal to introduce a global corporate tax rate, now finance ministers from
Hungary’s prime minister, Viktor Orban, is spearheading the formation of a new European political alliance, which will be more right wing than the European People’s Party, the center-right European Parliament grouping which the PM’s party, Fidesz, exited from earlier this year after having received extensive and prolonged
Germany has long backed Nord Stream II (NS2), which will provide it with more natural gas from Russia – and is nearing completion. Still, in a meeting this week with NATO’s secretary general, US secretary of state Antony Blinken listed reasons why the Biden administration is against the natural gas
This week Russia’s foreign minister, Sergei Lavrov, on a visit to China, declared that Russia’s relations with the European Union are over, because the EU had destroyed long-term mechanisms between the two sides. Now, he said, Moscow would be dealing with individual European states instead of Brussels. For