There is a growing number of signals indicating that after several years of marching towards the West, the Ukrainian economy is now making a turn to the East. In 2019, Russia ranked the third on the list of countries whose companies provide the most foreign direct investments in Ukraine.
Russia’s refusal to extend its USD multi-billion energy subsidies to Belarus since the start of this year, as well as its reluctance to retain the previous level of credit support to its neighbor, will likely put Minsk’s state finances under serious pressure in the mid- and long-term...
The Eastern Opening (Keleti Nyitás) is a major economic strategy of Hungary. Prime Minister Victor Orbán has an objective to reduce the dependency of the Hungarian economy on trade with the West through increased commerce with countries in Asia, particularly China.
Although Russia is still among the three global leaders in oil production, it only ranks the 8th in terms of the size of controlled oil reserves. But they are already heavily depleted and there are no new oil deposits that would be cheaper and easier to extract.
For almost three years Croatia is trying to renationalize its major oil&gas company INA. Hungarian MOL is the major shareholder with 49.1 per cent of shares, while the Croatian government has 44.8 per cent of shares.
The data from the annual financial statements of the entrepreneurs reveal an extremely interesting dynamics in the structure of the Croatian corporate sector. But the changes are still located at the bottom of the corporate pyramid.
Montenegro starts with research to determine whether it has enough resources to achieve a commercial use of oil and gas. Convoy of seismic exploration ships arrived on Montenegrin territorial waters, including the largest 117-meter long Polar Empress in Norway.
The Belarusian budget may lose 20 per cent of its annual revenues as a result of the increases of the price of Russian oil. The Russian-Belarusian economic relations are unique in history, but may not last forever.