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EU

Gazprom to sell North Sea Gas Assets

Gazprom, the Russian gas company, plans to sell off its stakes across North Sea assets. It faces compensation claims of multi-billion dollar value from European gas companies due to its drastic reduction of pipeline gas supply in 2022.…

EU approves €50bn package of support for Ukraine

After being pressed by his colleagues, Viktor Orban, the Hungarian prime minister, rescinded a veto he had previously taken on the financial aid package. The compromise reached at an emergency EU summit came after an unprecedented…

Germany is on the brink of recession

Germany's economy contracted by 0.1% in 2023. This means that it is almost certain to have had the worst performance of the G7 club. The largest economy in Europe has, however, avoided a technical contraction -- defined as two…

Dyson loses €176mn EU damages claim

Dyson lost its battle to get compensation of €176mn from Brussels for damages that it claimed were caused by energy label tests that penalised their vacuum cleaners. The British engineering company sought redress with the European…

EU prepares €20bn Plan B to Fund Ukraine

The EU is working on a plan to provide Ukraine with a financial back-up of up to 20 billion euros, using a debt-structure that will allow it avoid Viktor Orban's objections about funding this war-torn nation. Officials are looking for…