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On April 10th, during the Vienna International Energy and Climate Forum, a global cooperation initiative focusing on capacity building for energy transition was officially launched. This initiative calls for the establishment of cooperative mechanisms and enhanced knowledge sharing to provide systemic support for the global energy transition. The initiative includes six key measures: strengthening global capacity-building cooperation mechanisms; jointly establishing a Global Energy Interconnection Academy; promoting knowledge sharing on energy transition; strengthening resource mobilization and sustainable investment; promoting inclusive participation from youth, women, and other groups; and strengthening monitoring, evaluation, and continuous improvement.Chart: Overview of US market data on Friday, April 10, 2026The U.S. February factory orders month-on-month rate, the preliminary reading of the University of Michigan consumer sentiment index for April, and the preliminary reading of the one-year inflation rate expectations will be released in ten minutes.On April 10, Minister of Commerce Wang Wentao met with Serbian Minister of Domestic and Foreign Trade, Lazzarevic, who was visiting China. The two sides exchanged in-depth views on developing China-Serbia economic and trade relations. Wang Wentao stated that under the strategic guidance of the two heads of state, China-Serbia economic and trade cooperation has become increasingly close, with rapid growth in bilateral trade, deepening investment cooperation, and significant achievements in large-scale projects. China is willing to strengthen the alignment of its 15th Five-Year Plan with Serbias "National Development Strategy 2030," expand imports from Serbia, and continuously deepen cooperation in areas such as green development, the digital economy, and supply chains. China welcomes Serbian enterprises to continue participating in important exhibitions and events such as the China International Import Expo and the China-Central and Eastern European Countries Expo, promoting the steady and long-term development of China-Serbia and China-Central and Eastern European Countries economic and trade cooperation.The Dow Jones Industrial Average opened down 17.53 points, or 0.04%, at 48,168.27 on Friday, April 10; the S&P 500 opened up 17.90 points, or 0.26%, at 6,842.56; and the Nasdaq Composite opened up 120.08 points, or 0.53%, at 22,942.49.

Ukraine Will Block A Crucial Russian Gas Transit to Europe, Blaming Russia

Charlie Brooks

May 11, 2022 09:46

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Ukraine said on Tuesday that it will cease the flow of gas via a transit point that, according to Kiev, sends over one-third of the fuel piped from Russia to Europe through Ukraine. Kiev blamed Moscow for the action and said it would redirect the flows elsewhere.


Even after Moscow's invasion, Ukraine has remained a significant transit route for Russian gas to Europe.


The operator of Ukraine's gas infrastructure, GTSOU, has declared "force majeure" and will cease shipments through the Sokhranivka route as of Wednesday. "Force majeure" is a provision triggered when a firm is affected by circumstances beyond its control.


However, Gazprom (MCX:GAZP), which has a monopoly on Russian gas pipeline exports, said that it was "technologically impossible" to move all volumes to the Sudzha connecting point farther to the west, as GTSOU requested.


GTSOU CEO Sergiy Makogon told Reuters that Russian occupation troops have begun transporting gas flowing through Ukraine to two rebel territories supported by Russia in the country's east. He failed to provide proof.


The company stated that it was unable to operate at the Novopskov gas compressor station due to "the interference of the occupying forces in technical processes," adding that it could temporarily redirect the affected flow to the Sudzha physical interconnection point, which is located on Ukrainian territory.


Ukraine's suspension of Russian natural gas shipments via the Sokhranivka route should have no effect on the local Ukrainian market, according to Yuriy Vitrenko, the president of the state-owned energy business Naftogaz.


The national gas company of Moldova, a tiny country on Ukraine's western border, said that neither GTSOU nor Gazprom had notified them of a supply interruption.


Russian army and separatist militants have controlled the Novopskov compressor station in the Luhansk area of eastern Ukraine since shortly after Moscow launched a "special military operation" in February.


GTSOU said that it is the first compressor in the Ukraine gas transit system in the Luhansk area, the transit route for about 32,6 million cubic metres of gas per day, or a third of the Russian gas transported to Europe through Ukraine.


To fulfill its "transit responsibilities to European partners in full," GTSOU said that it will "temporarily move unavailable capacity" to the Sudzha interconnection point.


Gazprom said it had received information from Ukraine that the nation will cease gas transit to Europe through the Sokhranivka interconnector at 7:00 a.m. on Wednesday local time.


The Russian corporation said that it observed no evidence of force majeure or impediments to business as usual. Gazprom emphasized that it was fulfilling its commitments to European gas purchasers.


As punishment for the invasion of Ukraine, the United States has pushed other nations to reduce their reliance on Russian energy and has prohibited Russian oil and other energy imports.


Ned Price, a spokeswoman for the U.S. State Department, said that Tuesday's declaration does not alter the "as soon as feasible" schedule for reducing global dependency on Russian oil.

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