After the spread of coronavirus caused a sudden drop in demand for oil, major oil countries, led by Saudi Arabia, came up with a plan to prevent further fall in prices. However, those plans were hindered by Russia whose economy has since then took a beating, but the leadership remains optimistic.
Deliveries of Russian gas to Hungary through the TurkStream could start late 2021 or early 2022, state secretary for energy at the Ministry of Innovation and Technology, Péter Kaderják, said. The project creates a "third gas corridor" in addition to the Ukrainian and Baltic Sea supply routes.
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...
In December 2019 Russian President Vladimir Putin approved a law that prohibits sale of electronic devices that are not pre-configured with Russian software. Russia’s Federal Anti-Monopoly Service has now drawn up a document outlining the basis on which the apps will be chosen.
A resumption of lending in Russia by the European Bank for Reconstruction and Development (EBRD) remains a distant perspective, even after the restart of the Ukraine peace settlement. Nevertheless, the EBRD is facing a competition from Moscow in the CIS.
Last year, 14 per cent of Lithuania's exports went to Russia, the largest share among the country's other importers. Latvia is Lithuania's second biggest trade partner, followed by Poland and Germany.
Serbia signed an agreement with Russian Nuclear Energy Corporation for the development of innovations and new technologies in the field of nuclear energy for peaceful purposes, primarily in medicine and agriculture.
Seven German MEPs across the political spectrum called on the German government to clarify its position on the politically contentious planned Nord Stream 2 gas pipeline linking Russian natural gas sources with German consumers.