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29th Mar 2024

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BASF subsidiary piped €14bn of Russian gas across Germany

German BASF chemical giant's subsidiary Wintershall has piped €14bn worth of Russian gas across Germany in March, a report from NGO Global Witness revealed on Thursday. Wintershall made €400m in profits processing the Russian gas and oil in partnership with Russia's state-owned gas giant Gazprom, despite pledges to end their Russian business. About 40 percent of Germany's gas came from Russia in March, with purchases worth €2.8bn.

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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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