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The new cap begins on February 1, and contracts signed before then will be valid until April 16, as per a European Commission-approved document. The UK has similarly taken measures, having previously cut the price cap from $60 to $47.6 per barrel on September 3. Several…

as she briefed MEPs during a closed European Parliament session. This initiative highlights the EU’s expanding role in global security and defense. The EU is already pursuing large-scale defense projects, such as ReArm, which is valued at up to €800B, and SAFE for…

EU Ambassador to Ukraine Katarina Mathernova described this approach as an innovation. She mentioned that purchases within the EU will be prioritized, but if equipment involves weapons or parts not available in Europe or not produced in Ukraine, third countries,…

The top five EU importers paid Russia a combined €1.4B in December, according to CREA. Notably, 79% of these imports were natural gas, which was not subject to EU sanctions, while the remaining share was crude oil. Crude oil continues to be supplied to Hungary and…

This projection is based on a baseline scenario, which assumes that the Russian invasion will continue until the end of the year. The World Bank also considered reforms related to Ukraine’s EU accession, a new IMF program, and ongoing high military spending. “If a…

Newly appointed Defense Minister Mykhailo Fedorov, who previously led the Ministry of Digital Affairs, noted that his team didn’t just execute individual projects but built innovative markets from scratch that previously didn’t exist. At the start of the full-scale…

The First Deputy Prime Minister-Minister of Industry and Trade of the Czech Republic, Karel Havlicek, stated that the new Czech government aims to develop guarantee and insurance programs for companies willing to operate in Ukraine. “The state can play a key role here….