The European Union has proposed measures such as holding stockpiles of jet fuel and cutting energy taxes to navigate the Iran war-driven crisis that it said could reverberate for years. AccelerateEU – announced by the European Commission on Wednesday – gives member states the tools to curb energy prices and address potential fuel shortages, without […]
Continue ReadingEuropean Union member states have reached agreement on unblocking an urgently needed €90 billion loan for Kyiv and a new package of sanctions against Moscow after Ukraine resumed pumping Russian oil to Hungary and Slovakia, prompting Budapest to lift its veto. Cyprus, which holds the bloc’s rotating presidency, said member states’ ambassadors had agreed to […]
Continue ReadingThere has been a “substantial shift” in the EU on taking action against Israel, the Minister for Foreign Affairs has said. Helen McEntee said although EU members rejected a proposal from Ireland, Spain and Slovenia to suspend the EU-Israel Association Agreement over human rights breaches, there had been a shift. She has condemned Israel’s introduction […]
Continue ReadingThe European Union should increase trade tariffs on goods coming from illegal Israeli settlements in occupied Palestinian territories, according to a fresh proposal to put pressure on Israel led by France and Sweden. European governments are reopening a fractious debate in Brussels about whether to sanction Israel, with Spain, Ireland and Slovenia repeating calls for […]
Continue ReadingNational governments will be encouraged to roll out “energy voucher” schemes for vulnerable households and introduce a temporary ban on power disconnections, as part of an EU plan to get to grips with the worsening energy crisis. A draft of a European Commission plan being prepared by Brussels officials, seen by The Irish Times, expectedly […]
Continue Reading“Who’s your daddy?” is a question that will follow Mark Rutte around for a long time. The former Dutch prime minister has really had one job since taking over as Nato secretary general: Keep Donald Trump onside and the western military alliance intact. Trump has publicly wondered about the usefulness of the Nato alliance since […]
Continue ReadingEurope will face higher gas prices “for years” to come even in the best-case scenario, and possible shortages in the supply of diesel and jet fuel in the short term if the Strait of Hormuz remains blocked, the European Union’s energy commissioner has warned. The senior Brussels-based politician said the most optimistic projections were “pretty […]
Continue ReadingThe oil and gas shock caused by the US-Israeli attack on Iran and Tehran’s closure of the Strait of Hormuz has caused the cost of electricity to sharply diverge in Europe, with some countries cushioned while others feel the pain. On Tuesday, the cost of producing one megawatt-hour (MWh) of energy was €169.15 in Ireland, […]
Continue ReadingMinisters have been told to watch out for delays writing new EU rules and regulations into national law, to avoid getting an embarrassing rap on the knuckles from Brussels when Ireland holds the EU presidency. The Government is keen to avoid any “political damage” that could follow the European Commission pursuing new legal cases or […]
Continue ReadingUK consumers are paying more for chocolate eggs this Easter even as global cocoa prices tumble, as manufacturers try to recoup losses from a recent surge in the price of the raw material that analysts say will leave lasting marks on the confectionery industry. Prices for cocoa in New York and London have plunged more […]
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