Friday

29th Mar 2024

Ticker

Iran UN envoy calls EU response to US sanctions 'slow'

Majid Takht Ravanchi, Iranian ambassador to the UN, told CNN Sunday the EU has been "rather slow" in setting up a payment system that allows companies to trade with Iran. The so-called INSTEX mechanism, operational since this weekend, was needed to circumvent US sanctions. "It took them more than a year to establish such a mechanism," he said, adding the mechanism was "a good thing but it is not sufficient".

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Opinion

EU Modernisation Fund: an open door for fossil gas in Romania

Among the largest sources of financing for energy transition of central and eastern European countries, the €60bn Modernisation Fund remains far from the public eye. And perhaps that's one reason it is often used for financing fossil gas projects.

'Swiftly dial back' interest rates, ECB told

Italian central banker Piero Cipollone in his first monetary policy speech since joining the ECB's board in November, said that the bank should be ready to "swiftly dial back our restrictive monetary policy stance."

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