Pumps may run dry in the region until Russian companies find buyers for their refineries in Bulgaria, Romania, and Serbia. Russian oil company Lukoil announced on Monday that it has begun selling all its international assets following the sanctions imposed by the United States. “Lukoil informs that owing to the...
Bulgaria, Rheinmetall seal 1 billion euro deal to produce gunpowder and ammunition
Sofia will finance its stake with a loan under Europe's SAFE borrowing mechanism to boost defence investment. Bulgaria will become a center of competence in the defence industry for the whole of Europe, Rheinmetall’s Armin Papperger said at the signing. Bulgaria and European defence giant Rheinmetall on Tuesday (28 October)...
Cronos gas field off Cyprus edges toward development as key geals signed
Cronos operator Eni signed three commercial deals in Limassol last week, pushing ahead with plans to get first gas to market by 2027. Italian energy giant Eni took a significant step forward in developing its Cronos gas find in Block 6 of Cyprus’ exclusive economic zone after signing three commercial...
Russia tested new nuclear-powered Burevestnik cruise missile
While Trump began piling pressure on Russia after Putin's reluctance to engage in peace talks, the latter turbo-boosted his defiance with nuclear weapons. Russia has successfully tested its nuclear-powered Burevestnik cruise missile, a nuclear-capable weapon Moscow says can evade any defence system, and will move towards deploying the weapon, President...
Catherine Connolly elected as president of Ireland
The former clinical psychologist is one of the leading pro-Palestinian voices in parliament - a stance shared by government and most voters. Catherine Connolly, a veteran lawmaker on the far left of the Irish political spectrum, was elected president by a landslide margin on Saturday in a stinging rebuke to...
Putin’s visit to Budapest would be awkward for the EU, NATO
If Russian President Vladimir Putin stepped out of a plane in the European Union and NATO member Hungary for a summit with Donald Trump, it would be an inconvenient spectacle for Ukraine’s allies who are trying to isolate a leader they call a war criminal. The U.S. President said he...
Guns not missiles will defeat the drone
Missiles are not a panacea for air defense. Europe needs a return to guns – they’re cheaper and more practical. For decades, defense departments and the defense industry have pushed missiles as the solution to target destruction. The tank? Use a missile. The helicopter? Use a missile. And the low-flying...
Oil prices rise as US and EU tighten sanctions on Russian energy
Oil prices rose sharply after the United States announced new sanctions against Russian oil giants Rosneft and Lukoil, marking the first such measures since Donald Trump returned to the White House. The move, aimed at cutting off vital revenue to Moscow, comes amid renewed Western efforts to pressure Russia over...
EU countries mull response to China’s squeeze on rare earths
China's restrictions on rare earths are expected to be raised during a meeting of EU leaders as capitals mull how to respond. The issue is poised to come up during a summit of leaders on Thursday, even if no specific item is foreseen on the agenda. "It's an important topic...
Cyprus president optimistic about reuniting the island
Cypriot President Nikos Christodoulides speaks about his vision for the future of his country, the European Union and peace in Gaza. Cyprus is ready to resume talks about a reunification of the island immediately, eight years after the last round of UN-backed negotiations collapsed in Switzerland in 2017. “I’m ready...