A collection of 205 posts
“The war in Ukraine is severely affecting the euro area economy and has significantly increased uncertainty,” Christine Lagarde, President of the European Central Bank (ECB), said after its Governing Council met on Thursday afternoon. The ECB restated its intention to conclude bond buying in the third quarter. With inflation at
A coalition of 11 European Union states led by Denmark wants to accelerate the continent’s green transformation, in order to end the bloc’s dependence on Russian energy. EU governments last year commenced talks on reforms aimed at meeting 2030 emissions reduction goals. Now some countries including Poland want
Czechia’s Foreign Minister Jan Lipavsky says one of his country’s goals when it heads the EU Council is to clarify the EU’s relationship with China. In an interview with Politico, Lipavsky spoke of Prague’s objectives in its 6-month stint in the rotating presidency, which begins in
Romania is rolling out a EUR 3.4 billion part-EU-funded assistance package to help struggling companies and families amid the economic downturn caused by Russia’s invasion of Ukraine. Under the “Support for Romania” measures that Prime Minister Nicolae Ciuca unveiled on Monday, firms impacted by the war in Ukraine
The war in Ukraine is set to inflict twice the amount of economic damage that the COVID-19 pandemic did, the World Bank says in its new report that includes detailed outlook analyses for Poland, Bulgaria, Croatia and Romania. According to the Washington-based lender’s ECA Economic Update Spring 2022 report,
NATO leaders will formulate plans to bolster its eastern flank across Central and Eastern Europe at a summit in Madrid in June, Secretary-General Jens Stoltenberg announced. Calling Russia’s invasion of Ukraine the “biggest security crisis in a generation”, Stoltenberg said “regardless of when, how, the war in Ukraine ends
Over two hundred Russian diplomats have been sent home from countries in Europe this week, in response to scenes of atrocities in the Kiev suburb of Bucha, in eastern Ukraine. The number of expelled Russian envoys from European states now totals 325, representing “one of the biggest diplomatic breakdowns of
The EU banned Russian seafaring vessels from entering European ports, as it approved its fifth tranche of sanctions against Russia on Friday. The bloc also embargoed Russian coal supplies from August and enforced restrictions on all transactions with four major Russian banks. “We are proposing a fifth package of sanctions,
Nearly 300 Russian companies and nationals have been registered in Serbia since Russia launched its invasion of Ukraine on 24 February, Belgrade-based television channel N1 reported. According to Serbia’s Business Registers Agency, 288 Russian companies registered in Serbia between 24 February and 6 April, when Ukrainians registered only 6
Deutsche Bank CEO Christian Sewin said on Monday that a significant recession in Germany would be “almost inevitable” if imports of Russian oil and natural gas were stopped. German banks are expecting the country’s GDP growth to slow to 2% in 2022 from 2.7% in 2021, in the
NATO’s Secretary-General Jens Stoltenberg said on Thursday that intelligence showed Russian forces in Ukraine were not withdrawing, but appeared to be regrouping, according to Al Jazeera. His assertion contradicted the Kremlin’s announcement on Tuesday that it planned to reduce military operations in Kyiv and Chernihiv, following bilateral negotiations
Poland adopted draft legislation on Wednesday to prohibit coal imports from Russia. In its efforts to move away from all Russian energy sources, Warsaw says coal will be cut off within two months, while oil imports should cease by the end of 2022, according to Notes From Poland. Poland’s
Wednesday saw a flurry of statements from Moscow and Kyiv on the prospects for peace in Ukraine, following talks between the two sides’ delegations on Tuesday in Istanbul, Turkey, but actual progress towards a peace deal remained unclear. Al Jazeera reported that on Wednesday the Kremlin’s lead negotiator Vladimir
Hungary cancelled a scheduled summit of defence ministers from the Visegrad 4 (“V4”) group of EU member states – Czechia, Hungary, Poland and Slovakia – on Tuesday. The defence ministers of both Czechia and Poland signalled they would not attend the gathering, scheduled for 30-31 March, due to Hungary’s stance on
Russia said on Tuesday it would reduce its military operations around Kyiv, and in Chernihiv in the north of Ukraine to build trust towards the prospect of Moscow and Kyiv eventually reaching a peace settlement. The BBC reports that Russia’s Deputy Defence Minister Alexander Fomin made the announcement to