Saturday 13 August 2022

EU ministers poised to agree to gas plan

EU energy ministers in Brussels are set to agree to the EU Commission’s winter emergency gas plan, which involves a voluntary 15% cut in gas use between August and April, international news agencies said on Tuesday morning. The Netherlands has yet to officially react to the agreement, but officials have been working on an alternative to Russian gas for several months. Gas grid company Gasunie said earlier this month it expects that even without Russian gas there will be no... More >

Euro and dollar equal; first since 2002

The euro is now worth the same as the dollar, marking a 20-year low in the currency. Further drops are expected if energy supplies get tighter and European production comes to a standstill, reports the FD. ING currency specialists Chris Turner and Francesco Pesole told the paper that euro-dollar parity is ‘the most important psychological factor’ in foreign exchange markets. ‘Fireworks are obvious,’ they reportedly said. Some experts say the currency could fall as low as $0.95 this month. The... More >

Nato 'united' in resisting Russia: Rutte

It is extremely important that EU member states which are close to Russia are bolstered by Nato, prime minister Mark Rutte said on Wednesday, during the Nato summit in Madrid. As at the end of the Cold War, experience shows that you can avoid war by being strong, Rutte said, and the summit is allowing Nato to show that ‘it is back’. At this #NATOSummit we’re showing once again that we’re united in resisting Russian aggression. Also on the agenda... More >

Chinese firms kept off grid projects

Chinese companies are to be excluded from taking part in tenders to operate key parts of the national electricity grid because of the potential risk to national security, energy minister Rob Jetten has said in answer to MPs questions. Changes in legislation governing electricity provision will ensure that grid operator Tennet, which is 100% state-owned, will be able to stop any participation in contracts by companies which are considered to be risky. Last year, the economic affairs ministry halted the... More >

NL will back Ukraine's EU candidacy

The Netherlands will support Ukraine’s candidate membership of the EU, foreign minister Wopke Hoekstra said after Friday’s cabinet meeting. ‘It is about sending out a signal that we won’t leave Ukraine by itself,’ Hoekstra told reporters. ‘The European Commission’s proposal does justice to the situation in Ukraine and so we are going to do this.’ Commission president Ursula von der Leyen said earlier on Friday that Brussels recommended Ukraine be given candidate status.  The country had done ‘good work’ although... More >