Germany

Giant undersea cables set to give the UK and Germany their first direct energy link
Business

Giant undersea cables set to give the UK and Germany their first direct energy link

Onshore wind turbines in Germany. The NeuConnect project says the interconnector will enable Britain to “tap into the vast energy infrastructure in Germany, including its significant renewable energy sources.” By Thomas E. Gunnarsson | Moment Open | Getty Images Key contracts totaling more than £1.5 billion ($1.95 billion) have been awarded for a major interconnector […]

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Russia faces barrage of new sanctions after accusations of atrocities in Bucha, Ukraine
World

Russia faces barrage of new sanctions after accusations of atrocities in Bucha, Ukraine

A man gestures at a mass grave in the town of Bucha, northwest of the Ukrainian capital Kyiv on April 3, 2022. Sergei Supinsky | AFP | Getty Images The U.S. and its European allies are preparing to deliver another slew of sanctions on Russia following mounting evidence of war crimes committed by its forces […]

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Why Russia’s invasion of Ukraine could spark a NATO defense spending spree
World

Why Russia’s invasion of Ukraine could spark a NATO defense spending spree

The Russian invasion of Ukraine is unleashing a new era of military spending across Europe. Member countries of the North Atlantic Treaty Organization, such as Germany, have done an about-face on its defense budget in recent weeks. “The Russian invasion of Ukraine was a wake-up call for a lot of Germans, for politicians and for […]

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Millions of Brits plunged into fuel poverty on Friday as household energy bills surge
World

Millions of Brits plunged into fuel poverty on Friday as household energy bills surge

A protester holds a ‘Save Us From The Energy Crisis’ placard during a rally in London. British households face soaring energy bills from April 1 as the country’s energy price cap rises by 54%. Vuk Valcic | Sopa Images | Lightrocket | Getty Images The number of English households in fuel poverty will double to […]

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Putin talks tough on gas-for-rubles deadline. But European leaders aren’t too worried
World

Putin talks tough on gas-for-rubles deadline. But European leaders aren’t too worried

Russian President Vladimir Putin has demanded so-called “unfriendly” countries pay for Russian gas in rubles. Mikhail Klimentyev | Afp | Getty Images Russian President Vladimir Putin has sought to ratchet up the pressure on foreign buyers of natural gas, telling so-called “unfriendly” countries to pay in rubles from Friday — or have their supplies cut […]

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European stocks muted after a tumultuous month for markets
World

European stocks muted after a tumultuous month for markets

LONDON — European stocks were mixed on the last trading day of March, a month marked by global geopolitical and economic uncertainty after Russia’s invasion of Ukraine. The pan-European Stoxx 600 hovered 0.2% below the flatline by mid-afternoon, but was on course to eke out a monthly gain for March. Utilities gained 0.9% while retail […]

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Nord Stream 2 cost  billion to build. Now, the Russia-Europe gas pipeline is unused and abandoned
World

Nord Stream 2 cost $11 billion to build. Now, the Russia-Europe gas pipeline is unused and abandoned

A worker adjusts a pipeline valve at the Gazprom PJSC Slavyanskaya compressor station, the starting point of the Nord Stream 2 gas pipeline, in Ust-Luga, Russia, on Thursday, Jan. 28, 2021. Bloomberg | Bloomberg | Getty Images One of the early casualties of Russia’s invasion of Ukraine — and its continuing geopolitical and economic fallout […]

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German economic advisors send recession warning as Putin’s gas deadline nears
World

German economic advisors send recession warning as Putin’s gas deadline nears

Berlin’s Brandenburg Gate on the occasion of the Earth Hour, on March 26, 2022. Tobias Schwarz | Afp | Getty Images Germany’s heavy reliance on Russian energy could tip its economy into recession, an independent economic think tank warned on Wednesday. There are rapidly rising concerns over what Russia’s unprovoked invasion of Ukraine will mean […]

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European markets pull back amid doubts over latest Russian pledges over Ukraine
World

European markets pull back amid doubts over latest Russian pledges over Ukraine

LONDON — European stocks retreated on Wednesday following the latest round of talks between Russia and Ukraine, aimed at finding a solution to the conflict. The pan-European Stoxx 600 fell 0.5% in early trade, with autos shedding 1.6% to lead losses, while oil and gas stocks gained 2.1%. In terms of individual share price movement, […]

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Putin should think about the consequences of asking for energy payments in rubles, Germany says
World

Putin should think about the consequences of asking for energy payments in rubles, Germany says

Germany has some advice for Russian President Vladimir Putin: think about the consequences of asking for energy payments in rubles. Russia’s Putin said last week that “unfriendly” nations would be asked to pay for their natural gas in rubles — causing a spike in European gas prices. By asking for payments in the Russian currency […]

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