Hungarian government to use windfall taxes to rein in deficit and preserve household energy price cap

bne IntelliNews May 26, 2022

The announcement is the first open admission by the government about the dismal state of public finances.

Green-left Freedom Movement leader Golob becomes Slovenia’s new prime minister

bne IntelliNews May 26, 2022

Golob’s Freedom Movement agreed to form a government with the Social Democrats and the Left after winning the April 25 general election.

Hungarian government declares another state of emergency

bne IntelliNews May 25, 2022

Parliament passes tenth amendment to the constitution, giving the radical rightwing government the power to declare a state of emergency in the case of an armed conflict in a neighbouring country.

Russian bond defaults could soar after US lets payment exemption expire

bne IntelliNews May 25, 2022

The US won’t extend the General Licence 9A (GL9A), which has allowed the Russian state and its companies to make debt service payment in dollars to international investors.

Lira drags Turkey further down road to hell

bne IntelIiNews May 24, 2022

Currency breaches 16/$ threshold. Real interest rate at minus-56% is lowest in the world. Markets don’t dare hope that will change at May 26 rates meeting.

No progress in talks between Bulgaria, North Macedonia on lifting veto on EU accession talks

bne IntelliNews May 24, 2022

Sofia is under pressure to allow Skopje to start EU accession talks by the end of June, after a veto imposed for the first time two years ago, but Bulgarian officials are not sending promising signs.

Former Moldovan president Dodon detained in treason and corruption case

Iulian Ernst in Bucharest May 24, 2022

Moscow claims "persecution" after prosectors probe pro-Russian ex-president on suspicion of bribe-taking, illegal party financing, high treason and embezzlement.

Sibur CFO O’Brien quits as sanctions decimate Russia’s foreign executive ranks

Jason Corcoran in London May 24, 2022

Peter O'Brien, chief financial officer of Russia’s largest petrochemical company Sibur, has left the company as sanctions decimate the ranks of Russia’s foreign executives, bne IntelliNews can reveal.

Poland terminates Yamal pipeline agreement ahead of schedule

Jennifer DeLay May 24, 2022

Poland’s Climate and Environment Minister Anna Moskwa announced on May 23 that her country was terminating its inter-governmental agreement (IGA) with Russia on natural gas deliveries via the Yamal-Europe pipeline.

EC President Von der Leyen tells Davos countries of future 'don't need oil and gas'

Ben Aris in Berlin May 24, 2022

European Commission President Ursula Von der Leyen told delegates at the annual World Economic Forum in Davos that Ukraine belongs in the “European family".

Romania’s government passes €1.1bn social package

bne IntelliNews May 24, 2022

New measures to support public sector employees and pensioners, as well as offering relief for debtors as Romanians struggle to cope with rising prices.

Saudi energy minister says Russia will remain a part of OPEC+ group

Jennifer DeLay May 23, 2022

Saudi Arabia will continue to include Russia in OPEC’s attempts to work with other oil-producing states to balance global energy markets, despite Western moves towards sanctions on trade in Russian crude.

Schroeder steps down as Rosneft board chairman

Jennifer DeLay May 23, 2022

Gerhard Schroeder, Germany’s former chancellor, has resigned from his post as chairman of Russia’s state-owned oil producer Rosneft.

Iran the winner as Ukraine conflict repercussions divert European trade flows

bne IntelIiNews May 23, 2022

The importance of the International North-South Transportation Corridor, providing Indian Ocean access via the Iranian port of Chabahar, has soared.

At least five dead, more than 100 possibly trapped in collapsed building in Abadan, Iran

bne IntelIiNews May 23, 2022

Search for survivors under way. Security forces watchful for any anti-regime protests

CEE companies weather the COVID-19 crisis

Robert Anderson in Prague May 23, 2022

Prompt and decisive government intervention, financial lifelines and firms’ involvement in global value chains have helped minimise insolvencies, says EIB/EBRD report.

Sali Berisha returns as leader of Albania’s opposition Democrats

bne IntelliNews May 23, 2022

Controversial former president sanctioned by the US for corruption returns as opposition leader as Albanian parliament prepares to elect new president.

Russia halts gas deliveries to Finland

Jennifer DeLay May 23, 2022

Gazprom, Russia’s state-run natural gas giant, said on Saturday, May 21 that it had stopped all deliveries to Finland as of 6:00 a.m. local time.

Bulgarian PM says Putin tried to split EU and bring down his government with targeted gas cut-offs

bne IntelliNews May 23, 2022

Kiril Petkov believes Moscow deliberately targeted Bulgaria, where top officials were divided between Russia hawks and Kremlin sympathisers, with the aim of destabilising the government.

UN rapporteur issues chilling Tajikistan ‘civil war’ warning

bne IntelIiNews May 22, 2022

After so-called anti-terrorism operation in GBAO that may have led to the deaths of 40 or more people, many Pamiris said to be living in fear of return to violent 1990s conflict.