Austrian energy group OMV announced on Friday that it was opening an account with Russian Gazprombank for ruble conversion. The development came after repeated Austrian assertions that it would not pay for gas in rubles, as Russia demanded in response to EU sanctions over its invasion of Ukraine on 24
The European Commission (EC) adopted a EUR 300bn proposal for the 27-country bloc to be entirely independent of Russian energy by 2027, on Wednesday 18 May. “We must now reduce as soon as possible our dependency on Russian fossil fuels. I’m deeply convinced we can,” EC President Ursula von
The Slovak government approved a proposal to impose an extra import tax on Russian-processed crude oil on Wednesday. The levy would impact Slovnaft, a subsidiary of Hungarian energy firm MOL that has a refinery in the Slovak capital of Bratislava, Hungarian-language Slovak daily Uj Szo wrote. Slovak Finance Minister Igor
The European Commission (EC) is about to release the EUR 36bn Recovery and Resilience Plan (RRP) funds to Poland that were suspended over disagreements regarding the independence of the country’s judiciary. The EU will release the grants and loans on condition that Poland dismantles its disciplinary judicial chamber and
The EU failed to agree on its latest sanctions against Russia on Tuesday, as Hungary refused to drop its threat to torpedo the package. Consensus on a blanket embargo of Russian oil remains elusive and could take another “week or two”, EU foreign affairs chief Josep Borrell said on Monday,