From Russia with love: Brussels and Moscow close to an agreement on Ukraine’s gas supplies

Following a few months of mere “meditation”, the European Commission and Russia held a bilateral meeting in Vienna last week where they finally made progress on Ukraine gas supplies and energy security. Russia was represented by the Minister for Energy, Mr. Alexander Novak and the CEO of Gazprom, Mr. Alexej Miller. The EU was represented by Maroš Šefčovič, Vice-President […]

Sanctions on Russia to be the biggest unity test at this European Council

The relations between the European Union and Russia, as well as the entire, delicate situation in Ukraine, will be discussed at the European Council commencing this Thursday, although no big news are likely to come. EU leaders have not yet agreed on how to proceed on Russian sanctions, but they are unlikely to reach agreement […]

Minsk “ceasefire” leaves more doubts than safety, with EU already planning steps further

When the EU’s Foreign Policy Chief Federica Mogherini said that the Minsk ceasefire deal was important “but not definitive”, at the morrow of the agreement, everyone knew she was right. Minsk agreement was a crucial happening, in which a big step towards peace between Russia and Ukraine was taken given the delicate moment, but only a step. […]

EU finally to extend sanctions on Russia despite arguments; Greece again in Europe’s spotlight

The European Union Ministers of Foreign Affairs agreed to extend by six months the existing sanctions against Russia. That was the main decision taken during the Foreign Affairs Council meeting in Brussels last week, 29 January 2015, as described by an official announcement released on the same day. In the document the Council notes “evidence of continued […]

ECB’s Draghi favours a cheaper euro to serve all Eurozone countries

György Matolcsy, the controversial Hungarian politician and economist, currently serving as governor of his country’s central bank, handpicked for the job by the equally controversial Prime Minister Viktor Orban, reported that the President of the European Central Bank, Mario Draghi has set the ceiling for the euro/dollar parity at 1/1.30. This is something Draghi has […]

Where is heading Putin’s Russia?

Russia is the third trading partner of the EU and the EU is the first trading partner of Russia. This simple fact tells the whole story, about the relations between the two largest economic volumes of the Old Continent. Not much of Europe is left outside the two heavyweights. Energy, food, machinery and equipment, raw […]