Latest news with #Sejourne
Korea Herald
13-05-2025
- Business
- Korea Herald
Czech-Korean nuclear deal under EU scrutiny
A landmark $18 billion nuclear power plant deal between South Korea and the Czech Republic has come under renewed pressure after the European Union raised objections to the project, according to industry sources on Tuesday. Korea Hydro & Nuclear Power and a subsidiary of Czech state-run utility CEZ were set to sign a contract last week for the construction of two 1,055-megawatt nuclear reactors at the Dukovany Nuclear Power Plant. However, the signing was suspended after a regional court granted a preliminary injunction at the request of France's EDF, the losing bidder in the tender. On Monday, local media outlet Euractiv reported that French European Commissioner Stephane Sejourne had sent a letter to the Czech Industry and Trade Ministry on May 2 – the same day EDF filed for the injunction — urging the government to halt the nuclear deal with Korea. The Brno Regional Court issued the injunction on May 6, effectively canceling the signing ceremony scheduled for the following day. In the letter, Sejourne noted the Commission has already started examining whether KHNP received any state aid that could be considered illegal under the EU Foreign Subsidy Regulation when it won the tender to build the two reactors. The Czech Republic should not sign the deal until the investigation is complete, the commissioner said. 'In this regard, the duty of sincere cooperation requires Czechia to avoid any situation that would irreversibly run counter to concerns set out in this letter and that could give rise to irreversible effects that prevent the FSR from being applied effectively,' Sejourne wrote, using the Czech government's preferred name for the country. Sejourne's statement repeats the EDF's claim that KHNP may have received government subsidies, potentially violating EU competition rules. The French company has also argued that KHNP's fixed-price offer is unrealistically low and financially unsustainable. Citing these reasons, the EDF has continued to challenge the Czech Republic's selection of KHNP since its own bid fell through last July. Later on Monday, Commission spokesperson Thomas Regnier clarified that Sejourne's letter was 'absolutely not a request to put things on hold.' 'Here it's not, again, a French commissioner defending French interests. On the contrary, it's a (European Commission) college member enforcing the legislation and engaging with the Czech authorities to protect our single market,' the spokesperson added. Over the allegation, KHNP reaffirmed Tuesday that it did not violate the EU's FSR, rejecting the French side's claims that it received government subsidies. 'We have participated in the bidding process with sincerity and responsibility, and we will continue to do our utmost to ensure the successful execution of the project, based on trust with the Czech government and the contracting authority,' the company said Tuesday. KHNP has previously refuted EDF's claim, noting it received no government subsidies and that the Czech nuclear tender began in March 2022, prior to the regulation's adoption, making it exempt from the FSR's scope. Elektrarna Dukovany II, the CEZ subsidiary overseeing the reactor project, issued a statement defending the tender process and urged EDF to immediately disclose the offer it submitted if it truly believes it was more competitive than that from KHNP. EDU II also said it is ready to 'seek full compensation for damages' caused by delays and to protect shareholder value against litigation. Regarding the claims of illegal subsidies, EDU II labeled it 'speculation by the unsuccessful bidder,' adding that 'the unsuccessful bidder is not interested in winning the tender, but in ensuring that no nuclear power plant is built here in the Czech Republic at all.' The CEZ also said it will file a motion this week to have the injunction lifted by the Supreme Administrative Court and to proceed with the deal.
Express Tribune
12-05-2025
- Business
- Express Tribune
EU asks Prague to hold off on S Korean nuclear deal
The EU has asked the Czech Republic to suspend signing a deal with South Korean company KHNP to build two nuclear units as it probes whether subsidies distorted competition, according to a letter seen by AFP Monday. In the letter, EU industry Commissioner Stephane Sejourne said Brussels was gathering information to assess if KHNP received "foreign financial contributions" that tilted the playing field in its favour. This was a preliminary move that could lead to the opening of an official investigation. "A contract creates final facts which would jeopardise the Commission's right to carry out its investigation effectively and its ability to ensure that entities take effective remedial action," Sejourne wrote, asking Prague to postpone the signing. Sejourne's letter was sent on May 2, ahead of a signing ceremony originally planned five days later with KHNP, which won the contract last July after beating France's EDF in the tender.
Yahoo
25-03-2025
- Business
- Yahoo
EU unveils critical material projects to cut China dependence
The EU unveiled dozens of projects Tuesday to ramp up extraction of critical raw materials in Europe as the bloc seeks to reduce its over-reliance on China. The Covid pandemic and Russia's invasion of Ukraine exposed the European Union's reliance on foreign supply chains for the materials, forcing Brussels to confront the need for greater production in Europe to avoid future shocks. "Chinese lithium cannot become tomorrow's Russian gas," warned EU industry chief Stephane Sejourne. When Moscow attacked Ukraine in 2022, the EU cut energy imports from Russia, leading to spiralling energy prices and sky-high inflation. Heeding past lessons, Brussels is now scrambling to secure critical minerals and rare earth elements, which are essential for electronic goods such as batteries and needed for the green transition. The EU believes it must act fast as geopolitical tensions spike following the re-election of US President Donald Trump. "There is a sense of urgency that wasn't there three or four months ago," Sejourne told reporters in Brussels. The European Commission published a list of 47 "strategic projects" that include opening mines for lithium -- needed for electric cars -- and tungsten. Spread across 13 EU member states, they will benefit from easier access to European Union financing as well as simpler and faster permitting processes. "Let's be clear: we are obliged to open new mines in Europe," Sejourne said, adding that the EU could be "wholly self-sufficient in lithium" within five years. - Diversifying supplies - The projects are designated under the Critical Raw Materials Act (CRMA), a major law the EU hopes will protect the green tech industry and maintain production in Europe. It stipulates that by 2030, the EU must meet 10 percent of its extraction needs, 40 percent of its processing and 25 percent of its recycling needs for each material. The act also states that the bloc must not rely on any one non-EU country for more than 65 percent of its strategic raw material needs. According to EU data, China provides 100 percent of the bloc's supply of heavy rare earth elements, and Turkey provides 98 percent of the EU's supply of boron. "There is no decarbonisation possible without gallium to build solar panels, without copper to transport electricity. No defence industry without the rare earth elements that are used in the composition of our radars, our sonars, our targeting systems," Sejourne said. The materials are also vital for munitions as the EU seeks to ramp up defence spending. The EU plan is made up of different elements: extracting, processing and recycling more raw materials in Europe; diversifying overseas suppliers; joint purchases to reduce costs; and building up strategic stocks. Up to two billion euros ($2.1 billion) in financing will be available in the form of loans, guarantees and grants, Sejourne said. Permits must be granted within 27 months for extraction projects and 15 months for processing or recycling projects, the commission said. The EU received 170 project applications, 49 of which are outside the EU, including in Greenland and Ukraine. A further raft of projects outside the EU will be announced in the coming weeks. aro-raz/ec/js
Reuters
25-03-2025
- Business
- Reuters
EU tightens steel import restrictions
BRUSSELS, March 25 (Reuters) - The European Commission on Tuesday said it would tighten import restrictions on steel from next month in a bid to shield the ailing European steel sector from surging imports. The EU will reduce import quotas, known as safeguards, limiting the amount of steel that can be imported into the bloc of 27 nations tariff-free. The move confirms announcements made by Commission Vice President Stephane Sejourne last week. In an interview with Reuters, Sejourne said the measures would cut inflows by approximately 15%. Volumes imported within the quotas reflect established trade flows and are not subject to tariffs. Any steel imports outside the quota will be hit by a 25% tariff. Countries will also no longer be able to roll over unused quotas of other countries and for categories with high import pressure and low consumption, the Commission said. "The tightened measure will create breathing space for EU steel producers to increase their production and thus regain lost market share. It also aims to increase employment and investment in green steel production," it said.
Zawya
19-03-2025
- Business
- Zawya
EU proposes cutting steel imports by 15% as Trump tariffs bite
The European Union will tighten steel import quotas to reduce inflows by a further 15% from April, a senior EU official said on Wednesday, in a move aimed at preventing cheap steel flooding the European market after Washington imposed new tariffs. European steel producers already battling high energy prices and competition from Asia and elsewhere warn that the EU risks becoming a dumping ground for cheap steel diverted from the U.S. market, which could kill off Europe's plants. "During a period when nobody is respecting WTO (World Trade Organization) rules and everyone refers to national security... the EU can't be the only continent that lets its industry fall apart," European Commission Executive Vice-President Stephane Sejourne told Reuters. Given the U.S. market was now making less commercial sense with a 25% tariff imposed by President Donald Trump's administration in place, Sejourne forecast that producers from Canada, India and China would look to sell increasing volumes in Europe. The Commission will on Wednesday propose a raft of trade-related measures to boost its ailing metals industry, part of a new European Steel and Metals Action Plan. A draft of the plan seen by Reuters earlier this week showed the EU was studying import curbs. Sejourne, who is responsible for defining the bloc's industrial strategy, said a first measure would be to reduce import quotas, known as safeguards, for multiple steel grades from April 1, which would cut inflows by approximately 15%. Volumes imported within the quotas reflect established trade flows and are not subject to tariffs. Any steel imports outside the quota will be hit by a 25% tariff. Since July 2019, the quota volumes have increased by over 25% as the bloc complies with WTO rules. In 2024, the EU imported about 60 million metric tons of steel out of which 30 million tons were within the tariff-free quota. The Commission will also set out new measures in the third quarter to replace the reinforced safeguards, which under WTO rules cannot be extended beyond June 30, 2026. Sejourne said the new mechanism will be much stricter after appeals from the industry. The details are still to be determined. EUROPEAN PRODUCTION "We also have the challenge to anticipate future tensions, wars and pandemics and we saw what happened in the past with Russian gas ... Let's avoid that steel tomorrow becomes the gas of yesterday," Sejourne said. He said the EU did not want to depend on imports for steel, which will be crucial in the EU's rebuilding of its military industrial complex after the Ukraine war. To further boost existing trade defence measures, public procurement rules are expected to be revised in 2026 to favour European steel. The Commission will also introduce a "melted and poured" rule, according to the draft Steel and Metals Action Plan. The rule would stop importers from changing the metal's origin "by performing minimal transformation." Among non-trade measures, a pilot programme with the European Investment Bank to guarantee long-term power contracts will prioritise steel and aluminium producers. The details will be announced in the second quarter of 2025. "We want to keep our steel in Europe and be able to recycle in Europe," Sejourne said. "It's a strategic issue. There is no defence industry without steel, there is no automobile without steel and we want to keep our industries." (Reporting by Julia Payne and Philip Blenkinsop Editing by Tomasz Janowski)
