A collection of 205 posts
Hungarian Prime Minister Viktor Orban announced that banks, insurance companies, retail chains, energy firms, telcos and airlines in Hungary will have to pay a large proportion of what he called their “surplus profits” into two state funds in 2022 and 2023, on Wednesday. The money will be used to subsidise
The US can do without Russian oil, but has been reluctant to give up on its metals. Sanctions against Russian aluminium lasted less than a year before being lifted, due to their impact on US producers. Russian oil and gas have been high on the agenda of late, but Russia
In a letter to be sent to EU finance ministers, Slovakia, Lithuania, Latvia and Estonia jointly call for frozen Russian assets to be used towards the reconstruction of Ukraine in the aftermath of its invasion by Russia. The letter written by the four Central and Eastern European (CEE) countries, seen
The EU on Monday failed to make headway on finalising a sixth package of sanctions against Russia in response to its invasion of Ukraine, which includes a complete embargo on oil imports from the country. The first five rounds of EU sanctions included asset freezes and travel bans on Russian
The European Commission (EC) could channel funds to countries in Central and Eastern Europe (CEE) to help reduce their dependence on Russian fuels, in the wake of Hungary threatening to veto the planned EU embargo on Russian oil imports. The financial compensation would be disbursed via the new RePowerEU strategy
Czechia will participate in the UN Human Rights Council meeting on Thursday 12 May, after being elected as Russia’s replacement in the 47-member body earlier this week. The special session from 10am will address the deteriorating human rights situation in Ukraine including reported atrocities in Mariupol, at the request
NATO has around 30 surveillance and fighter jets in airspace outside of Ukraine and Belarus at any moment according the defence alliance, in response to Russia’s invasion of Ukraine. NATO also released an infographic outlining the allied aircraft able to be deployed in airspace in Central and Eastern Europe
NATO will increase its number of forces in the Baltic sea if Sweden applies to join the defence alliance, NATO Secretary-General Jens Stoltenberg announced on Thursday afternoon. The NATO chief told Swedish SVT News that although NATO does not intend to enter the conflict between Russia and Ukraine – and therefore
The Polish government’s Stop Russia Now advertising campaign arrived in Hungary on Wednesday, increasing speculation that the alliance between the two countries’ populist nationalist governments has reached breaking point over differences on Russia’s invasion of Ukraine. Of the Visegrad Four (V4) group, comprising Poland, Czechia, Slovakia and Hungary,
There were mixed messages from Central and Eastern Europe (CEE) on Wednesday, when the European Commission (EC) announced plans for a Russian oil embargo. In CEE, two of the countries that would be most affected by the import ban had markedly different reactions to the announcement. While Slovakia merely requested
Mutually beneficial business relations were meant to cement cooperation and peace in Europe after WWII. This post-world war global order is now in danger of falling apart, as sanctions against Russia are extended to technology, industry and agriculture, finances and energy. How did the road to globalism begin five decades
People supporting war crimes can have their citizenship removed in Latvia as of today, after a large majority of the country’s MPs voted in favour of amendments to the Citizenship Law on Thursday. Latvia’s Defence, Internal Affairs and Corruption Prevention Committee passed the amendments, a response to Russia’
The European Commission (EC) is assessing whether the EU can ramp up its renewable energy target for 2030 from 40% to 45%, Reuters reported on Thursday. Russia is the EU’s biggest gas supplier, and in the wake of its invasion of Ukraine, the EC is keen to decrease its
New sanctions on Russia’s oil and gas currently being discussed by EU leaders would impact several Central and Eastern Europe (CEE) countries much harder than their Western neighbours, a French government economic research institute estimates in its latest report. In CEE, Lithuania, Bulgaria, Slovakia and Czechia could experience national
Estonia is providing the most aid to Ukraine by far in relation to its economic output, according to a new data tracker set up by the Kiel Institute for the World Economy. The Baltic country has promised aid worth nearly 0.8% of its GDP, way ahead of Poland on