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According to EuroPravda, the Czech president stated that the goal of supplying Ukraine with 1.8 million rounds of large-caliber ammunition this year has been achieved.Iranian media reported that 18 crew members of a foreign oil tanker seized in the Gulf of Oman have been detained on suspicion of transporting "smuggled fuel."On December 13th, Han Wenxiu, Deputy Director of the Central Financial and Economic Affairs Commission and Director of the Central Rural Work Leading Group Office, stated that to ensure the success of next years economic work, it is essential to adhere to the principle of seeking progress while maintaining stability, improving quality and efficiency, strengthening counter-cyclical and cross-cyclical adjustments, and effectively enhancing the efficiency of macroeconomic governance. Since the Politburo meeting on September 26th last year, a series of policies and measures have been introduced and implemented, and additional policies will be introduced and implemented next year based on changes in the situation. It is crucial to leverage the integrated effect of existing and new policies to promote steady and positive economic growth. The market economy is largely an expectation economy; therefore, it is necessary to improve the expectation management mechanism, conduct effective economic publicity and public opinion guidance, respond promptly to market concerns, and effectively boost social confidence.On December 13th, it was reported that an EU official stated on the 12th that Ukraines accession to the EU before 2027 is "absolutely impossible." According to reports, a European diplomat said that Ukraines accession to the EU before 2027 is "extremely difficult," and it is unclear whether EU leaders support this plan. Hungarian Prime Minister Viktor Orbán stated on the 8th that the EUs admission of Ukraine would be tantamount to declaring war on Russia, and that the EU is preparing for war with 2030 as the target date.On December 13, Venezuelan President Maduro stated that the United States usual tactics of lying, coercion, extortion, and threats are "completely ineffective" and "will never work" against Venezuela, following the recent seizure of an oil tanker in waters near Venezuela and the announcement of new sanctions.

EU Defends Gas Price Limitation Plan Despite Nation Criticism

Skylar Williams

Dec 01, 2022 11:21

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The head of energy for the European Union defended the bloc's proposal to cap gas prices on Wednesday and announced that countries will discuss possible adjustments in response to concerns from EU member states.


The European Commission suggested a price cap last week that would go into effect if the front-month Title Transfer Facility gas price exceeded 275 euros per megawatt-hour for two weeks and was 58 euros higher than the reference price for liquefied natural gas for ten days. This comes after months of infighting inside the EU over whether or not to cap energy costs.


Countries in favor of a gas price cap to reduce citizens' high energy bills attacked the EU's proposal, with Poland's energy minister labeling it "a joke" and analysts saying it would never be implemented due to its onerous conditions.


EU Energy Commissioner Kadri Simson stated at a Politico-hosted event in Brussels, "It was not our objective to propose something that would never be implemented."


As a result of Russia's invasion of Ukraine, gas prices in the EU have surged this year, yet even a record price increase in August would not have triggered the EU's planned limit.


"Now we must consider how long we are willing to wait if a similar occurrence occurs again. Have we the time and the fortitude to wait two weeks? Is it a week? Is the time span shorter?" Simson declared.


Diplomats from EU member states will evaluate the proposal on Friday with the intention of negotiating a final version for energy ministers to approve at an emergency meeting on December 13.


The EU has previously approved a variety of steps to improve the energy situation, including gas storage filling conditions that have allowed countries to approach winter with full storage caverns.


However, limitations on gasoline prices have split the 27-nation bloc. While Italy, Spain, Belgium, Malta, and Greece criticized the proposed cap as being excessively high or unlikely to ever go into effect, Germany and the Netherlands are wary of regulating gas prices, warning that this could discourage suppliers from transporting Europe's desperately needed gas.


The proposal from the Commission would suspend the cap in the event of a fuel supply shortage.

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