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The European Union has frozen Russian assets worth 13.8 billion euros since Russia's invasion of Ukraine on February 24. This was announced by the European Commissioner for Justice Didier Reynders. According to Reynders, more than 12 billion euros are frozen in only five member states. He declined
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The Council of Ministers of Economy and Finance of the EU finally approved the decision on Croatia's accession to the euro area from January 1, 2023. The move completes the process in the EU Council that will allow Croatia to become a member of the euro area and
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The Swedish fashion retailer H&M Group officially announced that it had decided to start the process of winding up its business in Russia. > “After careful consideration, we see it as impossible given the current situation to continue our business in Russia. We are deeply saddened about the
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A German foundation established to help Russian Gazprom in completing the Nord Stream 2 gas pipeline wants to pay €12 million to settle its liabilities to the company’s subsidiary Nord Stream AG. This is reported by Reuters. Established in 2021 with a donation of 20 million euros from Nord
Economy
Gas production in Russia dropped by 10.4% from January 1 to July 15. The monthly drop in June has already collapsed by 30%. In fact, this is the largest production decline in Gazprom's history.
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Hortex is the leader in Central and Eastern Europe on the frozen vegetable, fruit, and berry market, and its products are sold in other regions of the world as well.
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Moody's international rating agency announced that Belarus has defaulted on its foreign debt obligations. This was announced in an official message. The grace period during which Belarus had to pay interest on loans expired on July 14.
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On July 12, the Council of the European Space Agency (ESA) decided to completely halt previously suspended cooperation with the Russian space agency Roscosmos on the ExoMars missions aimed at exploring Mars. This decision was taken due to the sanctions against Russia and its full-scale invasion of Ukraine. The ExoMars
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Commodity trading company Trafigura announced that it has sold its 10% stake in Russia’s Vostok Oil project in Siberia to Nord Axis, a Hong Kong-based trading company, for an undisclosed sum.
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Serbia, previously fully dependent on Russian gas supplies, plans to buy gas from Azerbaijan in 2023. This was announced on Tuesday by Serbian Energy and Mining Minister Zorana Mihajlovic, Reuters reports. Until now, Serbia has been 100% dependent on Russian gas supplies. Recently, there has been increased pressure on EU
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Russian gold exports have fallen almost to zero since March. However, sanctions are needed to make opportunities to sell this precious metal even less. Since March 2022, the London Stock Exchange has ceased to accept Russian precious metals as the London Bullion Market Association suspended Good Delivery status for all
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From August 1, Germany will completely stop buying Russian coal, and from December 31, it will stop buying Russian oil. This will mark a major shift in the source of the energy supply of Germany. Before that, Russia supplied 40% of Germany’s oil and 40% of its coal.