Friday

29th Mar 2024

Ticker

Hungary ready to veto EU oil sanctions proposal

Hungary's prime minister Viktor Orbán on Friday said the EU's proposed oil embargo is a red line for his country. "The European Commission's proposal amounts to an economic atomic bomb," he said, adding that it would take four-five years to change the oil supply. Orbán said he also did not back the sixth sanctions package because of the blacklisting of Patriarch Kirill, the head of Russia's orthodox church.

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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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