EU

Russian gas sector should not be sanctioned – EU energy chief

Russian gas sector should not be subjected to EU sanctions despite the situation in Ukraine, EU Energy Commissioner Gunther Oettinger said Thursday. “Gas is not a suitable sector for sanctions, as in this case everyone will lose – Russia, Ukraine and the European Union,” RIA Novosti cites Oettinger as saying.

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Nobel prize winners: Eurozone recovery is ‘dismal failure’

“Stunningly destructive” and “dismal failure” is how Nobel laureates describe growth in the European Union after destructive austerity policies and the euro crisis. Economists are casting doubt on the effectiveness of monetary policy in the 18-member eurozone, which is yet to fully shake off recession and produce sustained growth.

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Not-so NATO-ally? Germany spying on Turkey for ‘38 years’

German foreign intelligence agency has been tapping Turkey for almost four decades, reports Focus amid the ongoing spy scandal between Berlin and Ankara. Some German officials defend the practice, saying that not all NATO allies can be treated as friends. The German Federal Intelligence Service, BND, has been eavesdropping on Turkey since 1976 following the […]

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EU farmers complain €125mn compensation is just drop in the ocean

The €125 million in emergency EU support to its food producers may not be enough to cover the damage, as some estimates have it more than a hundred times higher. On Monday, the European Commission announced €125 million in emergency funding for European farmers hit by the Russian trade ban

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Putin to Merkel: Further delays of aid delivery to Ukraine would have been unacceptable

Further delays in the delivery of Russian aid to eastern Ukraine, which is facing a humanitarian disaster, would have been unacceptable, President Vladimir Putin has said in a phone call with German Chancellor Angela Merkel. “Given the obvious protractions by Kiev on the issue of the delivery of Russian aid to southeast regions of Ukraine, […]

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Kosovo and Ukraine: Compare and contrast

There have been at least two countries in Europe in recent history that undertook ‘anti-terrorist’ military operations against ‘separatists’, but got two very different reactions from the Western elite. The government of European country A launches what it calls an ‘anti-terrorist’ military operation against ‘separatists’ in one part of the country. We see pictures on […]

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Switzerland to EU: We don’t want to sidestep Russian food ban

Switzerland has said it will not re-export European agricultural products to Russia that now can’t get access to the country’s market. “We have had requests from European countries, including the producers of fruits, vegetables, dairy products and meat, but we didn’t give permission to have their products imported to Switzerland and then exported to Russia,” […]

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What does CETA, the ‘Wayne Gretzky of trade deals,’ hold for Europe?

A couple of weeks ago the German newspaper Süddeutsche Zeitung claimed that Germany was refusing to sign off the Comprehensive and Economic Trade Agreement (CETA). The simple reason being the Investor-State Dispute Settlement (ISDS) regulation which I have written about here.

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Europe unveils €125mn in ‘exceptional support’ to food producers

The European Commission said it will provide up to €125 million from Monday till the end of November to compensate food producers coping with Moscow’s food ban. “The exceptional measures announced today will include market withdrawals especially for free distribution, compensation for non-harvesting and green harvesting.

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Bulgaria halts South Stream gas pipeline project for second time

All operations on Russia’s Gazprom-led project South Stream have been suspended, as they do not meet the requirements of the European Commission, Bulgaria’s Ministry of Economy and Energy said on its website. “Minister of Economy and Energy Vasil Shtonov has ordered Bulgaria’s Energy Holding to halt any actions in regards of the project,” the ministry […]

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Russia may ban import of cars if west applies new sanctions: Report

MOSCOW: Russia may tighten retaliatory sanctions against Western nations to include a ban on imports of cars, among other things, if the United States and the European Union impose additional sanctions on Moscow, Vedomosti daily newspaper said on Monday. Following Russia’s stand off over Ukraine, western nations imposed sanctions on Moscow including on its financial […]

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EU sanctions like ‘shooting oneself in the foot’ – Hungary PM

Hungarian Prime Minister Viktor Orban has urged a rethink of the European Union’s sanctions policy toward Russia, saying the measures are like “shooting oneself in the foot.” “The sanctions policy pursued by the West, that is, ourselves, a necessary consequence of which, has been what the Russians are doing, causes more harm to us than […]

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EU to urge Latin America not to export food to Russia

The European Union is reported to be planning to dissuade Latin American countries from providing Russia.” “We will be talking to the countries that would potentially replacing our exports to indicate that we would expect them not to profit unfairly from the current situation,” the Financial Times (FT) quotes one senior EU official talking at […]

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Confidence in German economy falters as Russia sanctions take their toll

Economists fear eurozone recovery may be derailed after German ZEW indicator plunges to 20-month low. Europe’s standoff with Russia has affected the region’s largest economy after economic confidence in Germany nosedived unexpectedly, fuelling fears the eurozone’s weak recovery will be snuffed out.

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Ecuador: We don’t need permission to trade with Russia

Ecuador doesn’t need anybody’s permission to export agricultural products to Russia, which now has a big gap that needs to be filled after it banned supplies from a number of western countries, said President Rafael Correa. “I want to immediately say that we don’t need to get anybody’s permission to sell products to friendly countries: […]

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