East European Countries

In a ceremony broadcast on state television, Russian President Vladimir Putin signed a strategic agreement with Venezuelan President Nicolas Maduro. Interfax, a Russian news agency, reported that the two leaders also spoke about energy and oil in their meeting at Moscow. In the agreement, Russia & Venezuela stated that they would promote joint efforts within OPEC +, the Gas Exporting Countries Forum, and other organisations involved in the energy industry. The agreement stated that "the parties will promote an equitable and stable development of global markets for energy without using unfair competition instruments." The two companies agreed to work together...

These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. Headlines After three years of negotiations, UK and India reach a trade agreement UK closes on US trade deal with lower tariff quotas and cars After rival complaint, a Czech court stops an $18 billion deal for nuclear reactors Brussels wants to force EU gas companies to reveal their Russian contracts View the full article Britain and India have signed a free trade agreement that has been long sought after. The tariff wars sparked by U.S. president Donald...

Uniper said Tuesday that it had recovered more claims from former Gazprom main supplier during the first quarter. This is the latest update in the ongoing legal dispute between the two groups. According to EU officials, the news comes at a time when the European Union will publish plans to phase out the remaining gas supply agreements with Russia in the bloc by the end 2027. Uniper is locked in a legal battle with Russia's Gazprom. The two have been at odds since the delivery of its natural gas stopped in 2022. This forced Berlin to bail out the German...

Data showed that the price of oil in Russia in roubles had fallen to its lowest level in two years, below the 4,000-rouble mark per barrel, and was 40% less than what the federal budget planned. This increased pressure on the Kremlin which is already struggling with a growing budget deficit. Global oil prices are down over 10% for six sessions in a row, and over 20% in the past year since U.S. President Donald Trump’s tariff shocks in April prompted more bets that global economic growth would slow. The oil prices also fell following the Organization of the Petroleum...

The Russian Finance Ministry increased the estimate of the budget deficit for 2025 to 1.7% of the gross domestic product (GDP), from 0.5%, after reducing energy revenues by 24% in anticipation of a prolonged low oil price period. The ministry reduced the forecast for 2025 oil-and-gas revenues to 8.32 trillion Russian roubles ($101.47billion) or 3.7% GDP, from 10.94 trillion Roubles or 5,1% GDP. The ministry also increased spending by 830 billion Russian roubles. In 2025, the Russian government will have increased its state expenditures on national defense by a quarter to 6,3% of the gross domestic product (GDP), which is...

In an interview broadcast Sunday, Russia's Foreign Minister said that Russia would continue to target military sites in Ukraine, while Ukrainian President Volodymyr Zelenskiy reported 70 Russian attacks. Sergei Lavrov is the top diplomat in Moscow. He said that a deadly Russian phrase. Missile strike The attack on a Kyiv residential building last week did not target an "absolutely civil" target. Lavrov told CBS' "Face the Nation", in an interview taped Thursday, after the attack: "We will continue targeting the sites used either by the Ukrainian military or by mercenaries and instructors from other countries who are officially being sent...

According to documents obtained by, the Russian economy ministry's forecast for the average Brent crude price in 2025 has been cut by 17% compared to what they thought it would be in September. Interfax reported that in the ministry's baseline scenario for economic forecasts of 2025, the ministry assumes the average price of Brent to be $68 per barrel, down from $81.7 per barrel in its September predictions. The Ministry of Finance estimates that the price for Urals - Russia's main blend - is $56 per barrel - compared to the $69.7 barrel price on which Russia has based their...

Interfax reported on Monday morning that the Russian economy ministry had reduced its forecast of the average price for Brent crude in 2025 from the amount it thought the price would be in September by almost 17%. Interfax reported that in the ministry's baseline scenario for economic forecasts of 2025, the average price of Brent is expected to be $68 per barrel, down from $81.7 per barrel in the September forecasts. The Ministry of Finance estimates that the price of Urals, Russia’s main blend, is $56 per barrel, compared to the $69.7 per barrelle on which Russia based its budget...

Kassym Jomart Tokayev, the Kazakh president, said that he has instructed his government urgently to complete work on a new plan to protect Central Asia from global economic shocks. Kazahstan, the only Central Asian country targeted by President Donald Trump, was subjected to additional tariffs of 27 percent earlier this month. Despite Trump's Wednesday reversal of many of the heavy duties, the countries still face a tariff of 10%. Kazakhstan is also vulnerable to falling oil prices, as the U.S. continues to put pressure on China. Kazakhstan is among the top 10 oil producing countries in the world. According to...

The threat by U.S. president Donald Trump to impose secondary duties of 25 to 50 percent on buyers of Russian crude is so outrageous and bold that it may achieve his stated goal of a ceasefire between Ukraine and Russia. What is important now is how the other key players react to the latest move of this mercurial, inconsistent U.S. president. Do Russian President Vladimir Putin and Indian Prime Minister NarendraModi, as well as Chinese President Xi Jinping, believe that Trump is going to follow through on his promises? If so, what will this mean for the energy situation of...

Russia accused Ukraine of attacking its energy infrastructure on Friday, despite a ban on such strikes. It said a major piece of gas pipeline in Sudzha was virtually destroyed. An official from Ukraine said that Russia was responsible for the attack on Sudzha's gas transit point. It was not possible to confirm independently which side was responsible. Separate agreements were announced by the United States and Russia on February 2 to stop their attacks in the Black Sea, and to target each other's energy. These agreements are potential stepping-stones that Washington hopes can lead to a complete ceasefire and to...

News agencies reported that Russia's deputy prime minister Alexander Novak stated on Wednesday that the global oil demand is expected to rise by between 1.0 and 1.5 million barrels of oil per day this year. This compares to the latest expectation from the Organization of Petroleum Exporting Countries of a rise of 1,45 million bpd. Novak was quoted by Interfax as saying, "I am optimistic, because the rate of consumption increases every year. And judging from the fact that global economic growth will continue, demand for energy will increase." Experts and think tanks predict a possible oil surplus this year,...

The Finance Minister Anton Siluanov said to reporters Tuesday that Russia expects revenues from the scrapping of cars to be well below budgeted levels in this year. This could lead to some projects being abandoned. Moscow planned to raise taxes this year on imported cars by doubling the scrappage fee for all manufacturers and increasing support from the state for locally made vehicles. In Russia, both domestic manufacturers and importers of cars are required to pay an scrappage fee to cover future costs incurred by the state for managing the process of scrapping. The decline in car sales has shattered...

Court documents and Rosatom’s statement indicate that Rosatom filed a lawsuit against Finland’s Fortum and Outokumpu in Moscow, claiming 227,8 billion roubles (2.8 billion dollars) as compensation for losses resulting from the termination of the contract for the Hanhikivi-1 Nuclear Power Plant in Finland. Rosatom, which announced its intention to seek compensation on Monday, is seeking compensation "for losses caused by the unlawful termination" of the EPC contract for the construction and operation of the nuclear power station, as well as "violations of shareholder agreements, fuel supply contracts, and refusal to repay loan". The contract for the construction of a...

Dmitry Medvedev, a senior Russian security official, said that President Donald Trump forced Kyiv on Thursday to pay for any future U.S. Military aid. The agreement, which was signed on Wednesday in Washington, gives the United States access to new Ukrainian mineral deals and funds investment in Ukraine's rebuilding. According to The Kyiv Post citing diplomatic sources the Trump administration informed Congress of its intent to approve the export of defense-related products into Ukraine via direct commercial sales exceeding $50 million, marking the first such step since Trump returned to the White House. Could not confirm immediately. "Trump has broken...

A Ukrainian government source said that Ukraine was ready to sign an agreement with the United States on mineral resources. This could happen later today. The source stated, "I think that maybe the deal can be signed late in the evening Kyiv Time." Ukrainian officials are hoping that the signing of the agreement promoted by U.S. president Donald Trump will soften the American support for Kyiv during the war which was sparked by Russia's full scale invasion over three years ago. The Ukrainian government source confirmed that Yulia Shvyrydenko, first deputy prime minister of Ukraine, was traveling to the United...

KyriakosMitsotakis, the Greek Prime Minister, said that the economy could withstand new challenges posed by U.S. Tariffs. The country is awaiting a united European Union position on this issue. The financial markets were shook by Donald Trump's tariff plans after he warned that foreign governments would need to pay "a great deal of money" in order to remove the taxes he called "medicine". From Wednesday, the 27-nation EU will face import tariffs of 25% on steel, aluminium and automobiles and 20% unilateral tariffs for nearly all other goods. The EU is weighing up whether to approve a set of targeted...

According to a Wednesday decree, Russian President Vladimir Putin authorized Armenian investment firm Balchug Capital, to purchase shares held by Goldman Sachs Russian subsidiary, in nine major Russian companies, mainly in the energy sector. Balchug Capital, Goldman Sachs and other companies did not respond immediately to our requests for comments. Balchug Capital is The green light According to a separate order, the U.S. Bank will purchase Goldman Sachs’ subsidiary in Russia by January. This will allow the bank to exit the Russian market, and to extract some of the capital that is stuck there. Since the beginning of the Ukraine...

A government notification states that India launched an anti-dumping investigation at the request of an industry group over imports from Australia, China and Russia of met coke (low-ash metallurgical or met coal). In a March 29 notice, the Commerce Ministry said that the Indian Metallurgical Coke Manufacturers Association requested an investigation into the imports. These imports have more than doubled in the last four years due to concerns about local companies. According to the notification, the trade body said that there was no difference between the quality of met coke imported from abroad and the domestically produced version, which is...

Elon Musk’s electric car brand's first quarter sales in France have been the lowest since 2021, according to data released on Tuesday. Tesla's sales have been in decline ahead of its much-anticipated Model Y midsize SUV launch. The billionaire CEO is a close ally to U.S. president Donald Trump and has courted far-right parties across Europe. Data from the French auto body PFA revealed that Tesla sold 3,157 cars in France in March, a drop of 36.83% from last year. This equates to 6,693 registrations for the first quarter. The PFA's share of the country's market dropped to 1.63% for...

The CEO of Czech chemicals manufacturer Draslovka, Pavel Bruzek Jr., said that the company expects to earn more than a quarter of its total gross income in five years due to a growing demand for sodium-ion battery. In recent years, the company has grown and derived most of its revenue from U.S. operations. It has partnered with Natron Energy this month to supply Prussian Blue material for their batteries. Prussian Blue is made by Draslovka from sodium cyanide. It's a product that it produces in both the United States and Czech Republic. Bruzek said late on Friday that a Czech...

KGHM Polska Miedz, Poland's largest copper miner, posted a net income of 1,56 billion zlotys (US$402,11 million) in the fourth quarter of last year compared with a loss of 4,53 billion zlotys a previous year. The adjusted EBITDA for the full year 2024 rose from 5.36 billion to 8.46 billion. The group revenue for the fourth-quarter rose by more than 17%, to 9,18 billion zlotys. This was primarily due to higher prices of silver, gold, and copper. In a press release, CEO Andrzej szydlo stated that while production was similar year-on-year the cost of materials, fuels, and energy carriers had...

Steve Witkoff, the U.S. Special Envoy to the Ukraine war, expressed optimism ahead of the high-stakes negotiations in Saudi Arabia on Sunday. He said that he thought Russian President Vladimir Putin wished to end the conflict. Witkoff, a Fox News reporter, said: "I think he's looking for peace." Later on Sunday, a U.S. delegation will hold discussions in Saudi Arabia with Ukrainian officials about a possible partial truce between Ukraine and Russia. U.S. officials and Russian officials are scheduled to hold further talks Monday in Saudi Arabia. "I believe that on Monday you will see some real progress in Saudi...

Poland has announced that it is ready to resume production of antipersonnel landmines. This comes after the Baltic States and Warsaw both announced plans to withdraw from the treaty which bans the use of these mines. The three Baltic Republics and Poland will be able to stockpile and use anti-personnel land mines once again if they decide to withdraw from the 1997 Ottawa Convention. More than 160 countries have ratified the convention or joined it. This is part of the response to what the Baltics say is an increasing threat by Russia. When asked about plans to leave the Ottawa...