In a video call on Monday, US President Joe Biden and the leaders of France, Germany, and the United Kingdom reaffirmed their determination to continue to hold Russia accountable for its “unprovoked and unjustified invasion of Ukraine”, the White House said in a statement. US Secretary of State Antony Blinken is also considering an import […]
The European Union is waiting to see the impact of a slew of sanctions on Russia before imposing any more, but it is working on further steps that could include targeting crypto-assets, officials said on Thursday. “Our aim is to cut the Kremlin’s capacity to wage war on its neighbors,” European Commission President Ursula von […]
The price per ton of CO2 in the ETS has fallen by around 30 percent since the start of the war in Ukraine. However, the war seems to be only the trigger of the price crash. The causes lie elsewhere, as Lukas Scheid shows. Attempts at explanation range from panic selling to the previous overvaluation […]
United Nations member states have cleared the way for a legally binding treaty to reduce plastic waste. “We are making history today and you should all be proud,” UN Environment Programme (UNEA) President Espen Barth Eide said Wednesday after adopting a resolution to that effect in Nairobi. There, nations had spent more than a week […]
European debt rules will remain at least partially suspended next year. The Vice President of the EU Commission, Valdis Dombrovskis, said yesterday that the so-called twentieths rule for highly indebted countries should not be applied in 2023 either. According to this rule, euro countries with a debt ratio of over 60 percent must reduce their […]
The war in Ukraine and international sanctions against Russia are likely to cause new dislocations in industry value chains. “We will see an impact on energy prices and supply chains, including for raw materials,” Commission Vice President Valdis Dombrovskis said yesterday. The German Ministry of Economy is also concerned and is currently asking the industry […]
According to the Kiel Institute for the World Economy (IfW), the West could hit the Russian economy the hardest with a halt to gas imports. Accordingly, a trade stop of gas would result in a 2.9 percent slump in Russia’s economic output, according to the simulation calculation published Wednesday by the Kiel-based researchers. Completely abandoning […]
The parcel service UPS has failed in a multi-billion euro lawsuit against the EU Commission before the Court of Justice of the European Union. The background to the case was an illegal decision by the Brussels-based authority in 2013, which had prohibited a merger between UPS and TNT, a company operating in the same industry. […]