EUR/USD 1.18208
0.563%
Gold 4981.50
0.923%
Oil 61.059
2.474%
USD/JPY 155.813
-1.645%
GBP/USD 1.36362
0.994%
GBP/JPY 212.474
-0.652%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Ukrainian President Zelensky: It is too early to draw conclusions based on todays discussions.Sources say that protests by contractors have disrupted access roads to the Escondida and Saldivar copper mines in Chile.On January 24th, according to foreign media reports, a core group of political parties in the European Union is demanding that EU banking and market regulators, while fulfilling their supervisory responsibilities in the financial sector, should take into account the EUs declining industrial competitiveness. This call comes as the EU is undertaking a comprehensive revision of its financial regulatory framework. A document shows that the European Peoples Party (EPP), the largest group in the European Parliament and a center-right bloc, stated that "to help the EU achieve its broader economic growth goals," the scope of responsibilities for regulators should be broadened to explicitly include competitiveness as a consideration. These requirements would apply to all institutions responsible for supervising the EUs banking, securities, and insurance sectors. The Christian Democratic Union (CDU), led by German Chancellor Merz, has also joined the call for reduced regulatory burdens. Merz stated frankly in a meeting with banking officials last year that current EU financial regulations are "too stringent."January 24th - According to foreign media reports, the Mexican government is reassessing its decision to continue oil shipments to Cuba due to rising concerns about potential US retaliation or increased diplomatic pressure. The government of Mexican President Sinbaum believes that continuing fuel supplies to Cuba could trigger retaliatory measures or diplomatic pressure from the United States. Cuba faced severe energy shortages and frequent power outages after Venezuelan crude oil exports to Cuba were disrupted. Subsequently, Mexico became one of Cubas major oil suppliers, which the Mexican government describes as humanitarian aid and says is in line with long-standing bilateral agreements. Although the specific scale of shipments is not transparent, these supplies have significantly improved Cubas ability to obtain fuel.Sources say Mexico is assessing whether to halt oil shipments to Cuba due to fears of U.S. retaliation.

EU May Revise Green Objectives to Abandon Russian Energy

Charlie Brooks

Apr 11, 2022 09:36

R2.png



Following Russia's invasion of Ukraine in February, the European Commission suggested that Europe reduce its reliance on Russian gas supplies by two-thirds this year and phase them out entirely by 2027.


In May, the Commission is expected to present a "Repower EU" proposal outlining how the union might phase out Russian fossil fuels.


"What we're going to do over the next few weeks is work on what I'm calling the Repower EU program, which includes accelerating the energy transition. Thus, in that framework, we may reconsider our objectives "Timmermans said this to journalists on a visit to Cairo.


Timmermans declined to provide specific numbers for potential revised standards, but said such an adjustment would result in a "greater proportion of renewable energy in 2030."


By 2030, the EU's current plans call for renewable energy to account for 40% of final consumption.


Egypt, which is hosting the COP27 climate conference in November and re-exports Israeli gas from LNG facilities on its Mediterranean coast, might assist the EU in diversifying its gas supplies, Timmermans said.


"If we can get more LNG in the area - and we'll have to wait and see how much Israel makes available - that would be a viable option," he added.


"At its heart, what I'm presenting is a long-term strategic collaboration that begins with LNG and swiftly expands to include renewable energy, particularly hydrogen," he continued.

Suggestion