Latest news with #NordStream1
Business Recorder
a day ago
- Business
- Business Recorder
EU chief holds talks with US Republican leading Russia sanctions push
BRUSSELS: EU chief Ursula von der Leyen met Monday with Lindsey Graham, the Republican senator leading a push for tough new US sanctions on Russia, to discuss how to jointly increase the pressure on Moscow. The pair met in Berlin to 'discuss EU-US coordination on sanctions in response to Russia's ongoing war of aggression against Ukraine', said a European Commission statement issued after the meeting. 'Pressure works, as the Kremlin understands nothing else,' it said. 'This is why the president welcomed that Senator Graham committed to ramping up pressure on Russia and moving ahead with the bill in (the US) Senate next week,' the statement added. Russia and Ukraine step up the war on eve of peace talks The Republican senator has put forward a proposal that could see 500-percent tariffs slapped on countries buying oil from Russia – drawing interest from some in Europe as a potential model for action. As Russia stalls on peace efforts, the European Union is readying an 18th round of sanctions against Russia – though diplomats admit it is becoming increasingly difficult to agree on new areas to hit Moscow. The new EU measures would notably target the defunct Baltic Sea gas pipelines Nord Stream 1 and 2, to pre-empt any attempt to bring them back online. They would also seek to list more shadow fleet vessels, lower the price cap set on Russian oil, and slap additional measures on Russia's financial sector. 'These steps, taken together with US measures, would sharply increase the joint impact of our sanctions,' von der Leyen said in the statement. 'Combined with actions targeting Russia's shadow fleet limiting Russia's ability to transport its oil, it's an effective measure to dry up the Kremlin's resources to wage the war.' The meeting between Graham and von der Leyen comes as negotiators from Ukraine and Russia are meeting in Turkey for a fresh round of talks.
Time of India
a day ago
- Business
- Time of India
EU chief holds talks with US Republican leading Russia sanctions push
BRUSSELS: EU chief Ursula von der Leyen met Monday with Lindsey Graham, the Republican senator leading a push for tough new US sanctions on Russia, to discuss how to jointly increase the pressure on Moscow. Tired of too many ads? go ad free now The pair met in Berlin to "discuss EU-US coordination on sanctions in response to Russia's ongoing war of aggression against Ukraine", said a European Commission statement issued after the meeting. "Pressure works, as the Kremlin understands nothing else," it said. "This is why the president welcomed that Senator Graham committed to ramping up pressure on Russia and moving ahead with the bill in (the US) Senate next week," the statement added. The Republican senator has put forward a proposal that could see 500-percent tariffs slapped on countries buying oil from Russia -- drawing interest from some in Europe as a potential model for action. As Russia stalls on peace efforts, the European Union is readying an 18th round of sanctions against Russia -- though diplomats admit it is becoming increasingly difficult to agree on new areas to hit Moscow. The new EU measures would notably target the defunct Baltic Sea gas pipelines Nord Stream 1 and 2, to pre-empt any attempt to bring them back online. They would also seek to list more shadow fleet vessels, lower the price cap set on Russian oil, and slap additional measures on Russia's financial sector. "These steps, taken together with US measures, would sharply increase the joint impact of our sanctions," von der Leyen said in the statement. "Combined with actions targeting Russia's shadow fleet limiting Russia's ability to transport its oil, it's an effective measure to dry up the Kremlin's resources to wage the war." The meeting between Graham and von der Leyen comes as negotiators from Ukraine and Russia are meeting in Turkey for a fresh round of talks.
Jordan News
3 days ago
- Business
- Jordan News
European Gas Prices Set for First Monthly Increase Since January - Jordan News
European natural gas prices are on track to record their first monthly gain since January, driven by geopolitical developments and signs of tightening supply. اضافة اعلان According to Bloomberg, benchmark front-month futures are projected to rise by approximately 8% in May. Key Factors Behind the Surge: Increased scrutiny of Russian gas imports by European nations, as part of a broader roadmap to phase out fossil fuel dependence on Moscow. Germany's firm stance against reviving the Nord Stream 1 and 2 pipelines, effectively cutting off potential resupply routes from Russia. Supply constraints and elevated market caution, with traders responding to potential risks of reduced availability during peak summer demand and ahead of winter storage buildup. Current Market Snapshot: As of 9:09 AM (Amsterdam time), July delivery gas traded at €35.12 per megawatt-hour on the Dutch TTF hub, the region's primary benchmark. The anticipated monthly rise reflects mounting concerns over long-term energy security and the evolving energy policies across Europe, particularly amid ongoing geopolitical tensions and the continent's energy transition goals.
Nahar Net
6 days ago
- Business
- Nahar Net
Merz says Germany will 'do everything' to prevent Nord Stream restart
by Naharnet Newsdesk 28 May 2025, 16:00 Germany will "do everything" to make sure the damaged Nord Stream 2 pipeline from Russia will not resume deliveries of natural gas to Europe, Chancellor Friedrich Merz said Wednesday. "We will continue to increase the pressure on Russia," Merz said at a press conference with Ukrainian President Volodymyr Zelensky in Berlin. "We will do everything in this context to ensure that Nord Stream 2 cannot be put back into operation." The Nord Stream 2 gas link connecting Russia and Germany via the Baltic Sea was damaged in September 2022 by huge underwater explosions, said to be an act of sabotage. The explosions destroyed one of the two pipes of Nord Stream 2 and both branches of its controversial sister pipeline, Nord Stream 1. While Nord Stream 2 never went into operation, Nord Stream 1 for years shipped cheap Russian gas to Europe via Germany. Critics have argued the existence of the pipeline left Germany and the rest of Europe overly reliant on fossil fuel deliveries from Moscow. German and British media have recently reported that Washington and Moscow had discussed the idea of reviving the Nord Stream 2 project during talks on ending the war in Ukraine. Senior political figures in Merz's own party had also expressed tentative support for restarting gas deliveries via the pipeline from Russia before the chancellor definitively ruled out the possibility. EU chief Ursula von der Leyen said earlier this month the bloc was working on a new set of sanctions that would include measures against Nord Stream 1 and 2, pre-empting a restart. Explaining the measures, EU spokeswoman Paula Pinho said, "the idea is to dissuade any interest, and notably interest from investors, in pursuing any activity on Nord Stream, also in the future."
Yahoo
6 days ago
- Business
- Yahoo
Germany vows to block Nord Stream 2 and weaken Russia's military machine
German Chancellor Friedrich Merz promised to do everything to weaken Russia's military machine and to prevent the Nord Stream 2 gas pipeline from working. Source: Merz in a statement at a press conference with President Volodymyr Zelenskyy in Berlin, as reported by European Pravda Details: Merz stressed that the large-scale air attacks on Kyiv that occurred at the weekend do not speak the language of peace, but the language of war. "This is a slap in the face of all those fighting for a ceasefire in Ukraine, in Europe and in the United States. Therefore, we will increase pressure on Russia," Merz asserted. He promised to do everything to weaken Moscow's military machine. "We are also doing this to pave the way for negotiations. I speak on behalf of Germany. In this regard, we will do everything to ensure that Nord Stream 2 does not work," he concluded. Background: The European Union plans to impose sanctions on the operators of the Nord Stream 1 and Nord Stream 2 gas pipelines, which transport Russian gas to Europe, to eliminate any future investment interest. Merz actively supports the European Commission's plan to ban the resumption of gas pipelines. Support Ukrainska Pravda on Patreon!
