Russia says it stands ready to supply gas to Europe, describing ongoing disruption concerns as a “man-made crisis” created by Europe. Bloomberg | Bloomberg | Getty Images Russia is poised to temporarily shut down the Nord Stream 1 pipeline — the European Union’s biggest piece of gas import infrastructure — for annual maintenance. The works … Read more
The G7 has floated the idea of an oil price cap, but experts are doubtful about how effective this would be. Picture Alliance | Picture Alliance | Getty Images The world’s seven-largest industrialized economies have floated the idea of a price cap on Russian oil to further squeeze the Kremlin’s ability to fund its onslaught … Read more
BERLIN (AP) — The rust-colored tower rising from an industrial site near the banks of Berlin’s Spree river looks nothing like the sleek flasks Germans use for coffee, yet its purpose is similar: to provide some warmth throughout the day, especially when it’s cold outside. With a height of 45 meters (almost 150 feet) and … Read more
Police say there are no signs of foul play in the case of an eight-year-old boy who was found in a rainwater sewer more than a week after going missing in northern Germany. The boy disappeared on June 17 in the town of Oldenburg. Search parties spent days looking for him in vain until somebody … Read more
A drilling rig at a gas processing facility, operated by Gazprom. Maxim Shemetov | Reuters The European Union’s best shot at replacing Russian gas imports this year is likely to miss the mark, analysts predict, exerting further pressure on the region’s economy. The EU plans to replace two-thirds of Russian gas imports by the end … Read more
Madrid CNN — President Joe Biden arrives in Spain on Tuesday for a NATO summit expected to significantly bolster the alliance’s defense posture along its eastern edge, including ramping up troop levels and positioning heavy equipment, as Western leaders contemplate the next phase of the war in Ukraine. The announcements expected over the course of … Read more
Russian President Vladimir Putin makes a toast as he takes part in the XIV BRICS summit in virtual format via a video call, in Moscow on June 23, 2022. Michael Metzel | AFP | Getty Images The Group of 7 nations need to brace for a complete shutdown of Russian gas pipelines in the near … Read more
ELMAU, Germany (AP) — The Group of Seven economic powers are set to commit themselves to supporting Ukraine for the long haul, with the US preparing to announce the purchase of an advanced surface-to-air missile system for Kyiv. Leaders are also set to announce an agreement to pursue a price cap on Russian oil, raise … Read more
LONDON — European stocks moved higher on Monday, continuing a positive trend seen at the end of last week’s trading. The pan-European Stoxx 600 index added 0.7% in early trade, with basic resources jumping 2.9% to lead gains as all sectors and major bourses entered positive territory. The higher open on Monday comes after the … Read more
The G7 Partnership for Global Infrastructure and Investment will help finance infrastructure projects in developing nations. The leaders of the Group of Seven (G7) nations have pledged to raise $600bn in private and public funds over five years to finance infrastructure in developing countries and counter China’s older, multitrillion-dollar Belt and Road project. US President … Read more