Ukraine

After meeting with Indian Prime Minister Narendra Modi, German Chancellor Friedrich Merz suggested that the European Union could sign a Free Trade Agreement with India as soon as this month. Merz, during a trip to Ahmedabad in western India, said that the presidents of the European Commission and European Council will travel to India to sign the agreement at the end 'January' if the deal is completed by then. Merz, who was visiting India for the first time since his appointment as chancellor, said that they would "in any case" take a major step to ensure this free-trade agreement is...

Germany is looking to work more closely with India on security matters, in order to reduce India's dependence on Russia. On Merz's maiden visit to South Asia, Merz signed a memorandum to this effect, along with agreements on critical minerals and the health sector, as well as an artificial intelligence innovation center. "India and Germany?work together to build resilient, secure and trusted supply chains. Modi said at a joint news conference that the?MoUs signed today will give a new'strength and momentum to our cooperation. India is still closely involved in the security policy of Russia, from where it gets much...

As part of its efforts to increase pressure on Moscow over the conflict in Ukraine, Britain imposed sanctions Thursday on additional Russian oil companies and Canadian-Pakistani Murtaza Lakhaani. The government has targeted 24 individuals, entities and companies, including what they describe as Russia's biggest remaining un-sanctioned oil firms: Tatneft, Russneft, NNK-Oil, and Rusneftegaz. The latest measures aim to make it more difficult for Russia to sell its oil globally. In October, Britain sanctioned Rosneft and Lukoil, two of Russia's largest oil companies. On Thursday, the EU sanctioned?41 ships of Russia's?shadow fleet? that tries to circumvent Western trading restrictions. Russia dismissed...

The European Parliament approved Wednesday the plan to phase out Russian imports of gas by the end of 2027. This is the last legal hurdle that needs to be cleared before the ban can become law. The EU has agreed to legislation that will cut ties with Russia, Europe's former largest gas supplier. They had vowed to do this after Moscow's full-scale invasion in Ukraine 2022. The vote was 500 for, 120 against, and 32 abstained. The EU Ministers will still need to formally?approve the ban, which is expected in early?2019. Officials expect that countries will?approve the deal without any...

Three people with knowledge of the matter claim that Saudi Arabia's?Midad Energy?is one of the top contenders for the international assets of Russian?oil giant?Lukoil, taking advantage deep political ties between Moscow and Washington. Sources have confirmed that the assets, which are valued at around $22 billion, include oilfields, refineries, and thousands of fuel station worldwide. About a dozen investors have made bids for these assets, including U.S. major oil companies Exxon Mobil, Chevron, and private equity firm Carlyle. Lukoil wants to sell off its foreign operations, which were crippled by the U.S. sanctions that were imposed on October to pressure...

The Kremlin announced on Thursday that Russia is interested in attracting more foreign investment. This comes after the Wall Street Journal reported that the U.S. peace plan in Ukraine included proposals to invest in Russian rare Earths and energy. The Journal reported that the plans, which were detailed in the appendices of peace proposals drafted by U.S. president Donald Trump's administration and given to European counterparts during recent weeks, included proposals to restore Russian supplies to Europe. The Journal reported that U.S. firms would also invest in Russian strategic areas such as rare earth extraction and oil drilling in the...

The U.S. Treasury announced on Monday that U.S. sanction against Russian oil giants Rosneft, and Lukoil have already reduced Russian oil revenues. They are also likely to reduce Russian oil sales in the future. In a press release, the Treasury's Office of Foreign Assets Control stated that their analysis of the first market impact of sanctions announced on the 22nd of October showed they were "having their intended effect of dampening Russian revenue by lowering Russian oil prices and therefore the ability of the country to fund its war against Ukraine." The Treasury's action was one of the strongest U.S....

A senior White House official stated on Monday that President Donald Trump would be willing to sign legislation imposing sanctions on Russia, as long as the ultimate decision-making power remained with him. Trump told reporters on Sunday night that he was "OK" with Republicans working on legislation to impose restrictions on countries that do business with Russia because Moscow failed to negotiate a deal with Ukraine. Trump suggested that lawmakers could add Iran to sanctions measures. Both Senator Lindsey Graham, and U.S. Rep. Brian Fitzpatrick are Republicans. They sponsored legislation to impose restrictions on countries that do business with Russia....

A U.S. official familiar with the matter said on Friday that the United States supports the European Union in using frozen Russian assets to help Ukraine and bring an end to the war with Russia. The European Commission, as the West seeks a way to increase pressure on Moscow has proposed a plan that would allow EU governments to use up 185 billion euro ($217 billion), which is the majority of the 210 million euros of Russian sovereign assets frozen in Europe. Washington "absolutely support (the EU)" and the measures they are taking to be able to use those assets...

The Kremlin stated on Friday that the international interests of Russian oil giant Lukoil should be respected, after Swiss commodity traders Gunvor announced they had withdrawn their proposal to purchase Lukoil’s foreign assets. Gunvor made its move after the U.S. Treasury labeled it Russia's puppet and indicated that Washington opposes the deal. When asked about the latest development, Kremlin spokesperson Dmitry Peskov stated that it was a commercial matter, and that it related to illegal U.S. Sanctions on Moscow. However, it was vital that Lukoil’s interests be protected. Peskov said: "We are of the opinion that any legitimate interest of...

Authorities in the region said that a drone attack from Ukraine caused damage and fire to the Black Sea port of Tuapse. The facility is home to an important Russian oil terminal. The administration of the Krasnodar Region, where Tuapse lies, announced on Telegram that "An attack from UAVs (unmanned aircraft vehicles) has been repelled." "Falling drones caused damage to the port infrastructure and ignited a fire." No reports have been made of any casualties. The damage to port infrastructure is not immediately apparent. The port houses the Tuapse Oil Terminal and the Rosneft controlled Tuapse Oil Refinery. Both have...

Lukoil announced on Thursday that it accepted an offer by global commodity trader Gunvor for its foreign assets. Russia's second largest oil company has been seeking to sell these assets after Washington imposed sanctions last week. The planned asset sales are the most significant action taken by a Russian firm in response to the Western sanctions over the conflict in Ukraine. This war began when Russia invaded its neighbor on a full scale back in 2022. Lukoil announced in a press release that it had accepted Gunvor's offer to sell Lukoil International GmbH which controls foreign assets of the oil...

The European Union has sent emergency generators to Ukraine. They claim that a million Ukrainians are without heat and power due to Russian bombings. Meanwhile, France is planning to issue a call for international help to assist Ukrainians who have been exposed to extreme temperatures. Since Russia intensified its attacks on Ukraine's power grid during a recent cold snap, which reached temperatures as low as minus 20 degrees Celsius (4 F), electrical engineers have worked around the clock under hazardous conditions. In a statement issued on Friday, the?European Commission announced that it would send 447 generators for 3.7 million euro...

Russia intensified its attacks against Ukraine's energy systems, which rely almost exclusively on electricity generated by nuclear power stations and have already lost half their generating capacity. What do nuclear power plants mean for Ukraine? According to President Volodymyr Zelenskiy, Russia plans to strike substations which?supply consumers with nuclear energy? and plunge the country into complete blackout. Ukraine operates three nuclear plants with a combined capacity of 7.7 gigawatts. The largest nuclear power plant in Europe, Zaporizhzhia, is currently occupied by Russia. Currently, the country is experiencing a 10 gigawatt deficit, which can only be partially offset by imports. This...

Ukraine officials reported that Russia had launched a barrage drone strikes overnight on Monday on Ukraine's infrastructure, cutting power to five regions in the country due to freezing temperatures and high demand. The Ukrainian air force said that Russian troops launched 145 drones. It said that air defence units destroyed 126 drones. The energy ministry issued a statement saying that consumers in Sumy and Odesa regions, Dnipropetrovsk region, Kharkiv region, and Chernihiv region are currently without power. If the security situation permits, emergency repair work is underway. The regional governor stated that the energy and gas infrastructure in southern Odesa...

Vitali Klitschko, the mayor of Kyiv, said that Ukraine's capital Kyiv only has about?half as much electricity as it needs?as it is facing its worst wartime energy crisis after waves of Russian attacks against its infrastructure. Klitschko stated that Kyiv is one of Eastern Europe’s largest cities and requires 1,700 Megawatts to power its services for 3.6 million residents. Klitschko stated that the current energy crisis is the greatest challenge the capital has faced in the almost?four years following the Russian invasion of February 2022. In an interview at his office in the heart of Kyiv, Klitschko, the former heavyweight...

Denys Schmyhal, Ukraine's Energy Minister, told the parliamentary on Friday that the country has enough fuel to last more than 20 days. He described the 'energy situation' in the nation as very challenging following a number of Russian missile and drone attacks on the power infrastructure. Shmyhal who was appointed earlier this week said that the worst situation is still in Kyiv's capital, in the regions of Dnipropetrovsk and Kharkiv, as well as in towns close to the frontline where thousands have been living without heat and electricity for days in temperatures below zero. Winter preparations have failed in some...

The Zaporizhzhia Nuclear Power Station in Ukraine, which is owned by Russia, has a restored external power connection after repairs were completed. This was announced on Monday by the Russian management of the plant. The statement stated that the line had been taken out of service by "fire from Ukrainian armed forces". The International Atomic Energy Agency, the U.N.'s nuclear watchdog was present to monitor the repairs. The International Atomic Energy Agency said that the situation was under control at the plant, and radiation levels were normal. Two lines connect the station to the grid. The second line was still...

Odesa, Ukraine's southernmost port city, and the surrounding area suffered major blackouts on Saturday following a massive overnight?Russian assault?on power grid which left more than one million households without electricity. Volodymyr Zelenskiy, the president of Ukraine, said that Russia attacked Ukraine using more than 450 drones as well as 30 missiles. Zelenskiy, a Telegram user, wrote that the attack had a major impact on our energy system in the south, and particularly on Odesa. He added that thousands of families across Ukraine were without electricity. Yulia Svyrydenko, the Prime Minister of Ukraine, said that it was a major attack on...

The outgoing U.S. President Donald Trump’s Ukraine envoy stated that a deal for the end of the Ukraine war is "really close". It now depends on the resolution of two major outstanding issues: the future in Ukraine's Donbass region and the Zaporizhzhia Nuclear Power Plant. After eight years of fighting in the Donbas region, which includes the Donetsk-Luhansk region, between separatists backed by Russia and Ukrainian troops, Russia invaded Ukraine on February 20, 2022. The Ukraine War is the deadliest European Conflict since World War Two. It has also triggered the largest confrontation between Russia and Western since the Cold...

Rafael Grossi, the chief of the International Atomic Energy Agency (IAEA), said that a peace agreement would require a special status for Zaporizhzhia and an agreement on cooperation between Russia and Ukraine. In the first few weeks of Moscow’s invasion of Ukraine in February 2022, Russian forces captured the plant, Europe’s largest with its six reactors. Although the plant does not produce electricity, both sides accuse each other of military action that compromises nuclear safety. He said that "whatever the outcome, you'll need to have a collaborative arrangement or a co-operative atmosphere." Grossi's remarks come at a time when the...

The Russian operators of the Zaporizhzhia Nuclear Power Plant in Ukraine have confirmed that a second external powerline has been restored. The plant, Europe's biggest with six reactors, was taken by Russian troops during the first few weeks of the invasion of Ukraine in February 2022. Russia and Ukraine accuse each of other's military actions which compromise nuclear safety. The plant does not produce electricity at the moment, but it needs external power in order to cool down the nuclear fuels and prevent the possibility of a meltdown. In a statement cited by Russian news agencies the station's Russian operators...

The Ukrainian Foreign Ministry condemned on Friday what they called Russian attacks on critical substations that supply external power to Ukraine's nuclear reactors. A ministry statement released late Friday stated that Russia had carried out "targeted attacks" on these substations. It added that "Deliberate attacks on civilian energy installations which directly affect the safe operations of nuclear facilities bear the hallmarks and are a grave breach of international humanitarian laws." The ministry referred back to a Thursday statement by the U.N. nuclear monitor, the International Atomic Energy Agency. It reported that military activity had "caused damage to critical substations for...

The Zaporizhzhia Nuclear Power Station in Ukraine has been reconnected to external power by engineers who repaired a damaged line of high voltage, the station's Russian-installed managers announced on Thursday. In the first weeks after the Ukraine war, Russian troops seized the plant, Europe's biggest with six reactors. The plant currently does not produce electricity but it needs external power in order to cool down the nuclear fuel, avoiding the possibility of a meltdown. The International Atomic Energy Agency, U.N. nuclear watchdog, has prioritized the safety of this site, given the nearby fighting. Russia and Ukraine have often accused each...