EU countries struggle to find a common approach on energy prices
European lawmakers have repeatedly accused Russia of weaponizing energy exports to drive up commodity prices and sow uncertainty across the bloc. Moscow denies using the energy as a weapon.
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European Union countries have struggled to find a full consensus on how to protect people from the dramatic rise in energy prices that threatens to plunge millions of people into cold and poverty during the winter. winter as Russia chokes off natural gas supply.
As tensions with Moscow escalate over war in Ukraine, energy ministers from 27 EU countries could not hide differences over whether and how to impose a cap Russian natural gas prices, with the still recalcitrant Hungary refusing to agree, saying it would go against its supply interests.
Other countries disagreed on whether a price cap should apply only to Russia or to other producers as well.
An immediate solution to all proposals to bring natural gas and electricity prices down to affordable levels had not been anticipated, but energy ministers made general recommendations to the European Commission, the power EU executive, on options such as the introduction of exceptional levies on certain energy companies whose profits have increased with soaring prices.
— Associated Press
G-7 seeks to recruit more countries on Russian oil cap before negotiating details, officials say
Canadian Prime Minister Justin Trudeau, US President Joe Biden, German Chancellor Olaf Scholz, British Prime Minister Boris Johnson and French President Emmanuel Macron pose for a family photo of G7 leaders during a NATO summit at the alliance headquarters in Brussels on March 24, 2022.
Michel Kappeller | AFP | Getty Images
Two months after agreeing to explore price limits on Russian oil sales, the G-7 countries are still trying to recruit more countries to join their efforts before starting more detailed discussions on the specifics of the deal. politics, according to US and European officials.
“The coalition must be broader, and this is the diplomatic phase [negotiators] are coming in,” said a European official, requesting anonymity to discuss sensitive deliberations.
They aim to limit the amount of revenue the Kremlin receives, but keep Russian oil on the market to avoid supply disruptions.
The main importers of Russian oil – China, India and Turkey – have not yet said whether they will participate in the coordinated price cap or negotiate their own side deals with Russia. Their participation could determine the degree of leverage Western countries have to set prices.
“It is premature to start discussing the price before the coalition meets,” a senior Treasury official told CNBC.
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Rebuilding Ukraine will cost at least $349 billion, new World Bank report estimates
Firefighters stand in front of the rubble of a building destroyed by the Russian missile attack in the Ukrainian city of Kharkiv on September 06, 2022.
Metin Aktas | Anadolu Agency | Getty Images
The Ukrainian government, the European Commission and the World Bank have estimated that it would cost at least $349 billion to rebuild Ukraine after the Russian invasion.
The joint report entitled “Rapid Damage and Needs Assessment” covers the effects of the war between February 24 and June 1. The report lists physical damage to Ukrainian infrastructure totaling more than $97 billion.
“Destruction was concentrated in Chernihivska, Donetska, Luhanska, Kharkivska, Kyivska and Zaporizka oblasts,” the report’s authors wrote.
‘She knew and worked with all the NATO Secretaries General’: Blinken and Stoltenberg honor Queen Elizabeth II before meeting on Ukraine
US Secretary of State Antony Blinken speaks during a joint news conference with NATO Secretary General Jens Stoltenberg (R) in Brussels on September 9, 2022, a day after his unannounced visit to Ukraine.
Jonathan Ernest | AFP | Getty Images
US Secretary of State Antony Blinken and NATO Secretary General Jens Stoltenberg took a moment to honor the reign of Queen Elizabeth II before their meeting on the ongoing war in Ukraine.
“Today the NATO flag and the flags of 30 allies are flown at half mast to honor Her Majesty Queen Elizabeth II,” Stoltenberg said alongside Blinken in Brussels. “She was a strong supporter of the transatlantic alliance of our armed forces and our values. She has known and worked with all the Secretaries General of NATO since the creation of NATO.
“She was a powerful and unifying force, a source of comfort and resilience for millions of people from all walks of life. On behalf of the United States, I send our deepest condolences to our British friends, to the Government of the United Kingdom and to the royal family,” Blinken said.
100 ships carrying agricultural products left Ukrainian ports
The cargo ship Razoni, which left the Ukrainian port of Odessa as part of the grain shipping deal, is pictured in the Bosphorus on August 3, 2022, in Istanbul, Turkey.
Hakan Akgu | Getty Images
The organization overseeing the export of agricultural products from Ukraine said 100 ships have left the beleaguered country since ports reopened.
The Joint Coordination Center, an initiative of Ukraine, Russia, the United Nations and Turkey that was established in July, said the ships were carrying 2,334,850 metric tons of grain and other food products .
EU energy ministers meet to discuss Russian gas price cap
European Commission President Ursula von der Leyen said the region was facing an extraordinary situation.
Thierry Monasse | Getty Images News | Getty Images
European Union energy ministers have gathered in Brussels for emergency talks on how to protect households from soaring gas and electricity prices ahead of the colder months.
Ahead of the meeting, European Commission President Ursula von der Leyen outlined a five-point plan to tackle soaring energy bills. This included a Russian gas price cap, a windfall tax on fossil fuel profits, a mandatory electricity consumption reduction target and emergency credit lines for power companies.
Russian President Vladimir Putin has warned he is ready to let Europe “freeze” this winter by tearing up existing supply contracts if a cap on Russian energy exports is imposed.
Ukrainian Defense Ministry quotes Queen Elizabeth in tweet listing Russian losses
Ukraine’s Defense Ministry released a list of Russian military personnel and equipment losses since the war began on February 24, along with a citation from the late Queen Elizabeth II, who died on September 8.
The quote, which was delivered in 1940 on a radio broadcast by Queen Elizabeth II to the children of the Commonwealth when she was still a princess, read: “When peace comes, remember that it will be up to us, the children of today, to make the world of tomorrow a better and happier place.”
The ministry said Russian forces had lost an additional 650 troops, bringing the total to 51,900 Russian troops killed since the start of the invasion. He also said that Russia has so far lost 2,122 tanks, 4,575 armored fighting vehicles, 239 military jets, 211 helicopters and 15 warships or boats.
CNBC could not independently verify the information.
Nearly 400 square miles of reclaimed territory, says Zelenskyy
A tank of the Ukrainian army advances towards the fronts in the northeastern regions of Kharkiv, Ukraine, on September 08, 2022.
Metin Atkas | Anadolu Agency | Getty Images
More than 1,000 square kilometers (386 square miles) of Ukrainian territory has been recaptured from Russian forces, President Volodymyr Zelenskyy has said, following a surprise counteroffensive in the Kharkiv region in northeastern country.
“Our heroes have already liberated dozens of settlements. And today this movement has continued, there are new results,” Zelenskyy said in his evening speech.
“In total, more than a thousand square kilometers of our territory have been liberated since September 1.”
A view of a Russian tank captured by Ukrainian forces being transported to Kharkiv, Ukraine, September 08, 2022.
Metin Atkas | Anadolu Agency | Getty Images
He thanked his armed forces and the soldiers involved in the operations, and also thanked the United States for its latest commitment of $675 million in military aid.
“Each of these steps by our partners has a real impact on the strength of our state and the whole of Europe in the defense against Russian terrorism,” he said.
Ukraine’s energy chief says Russia is trying to ‘steal’ a nuclear power plant
A. A Russian soldier guards an area of the Zaporizhzhia nuclear power plant in territory under Russian military control, in southeastern Ukraine, May 1, 2022.
The head of Ukraine’s atomic energy operator has accused Russia of trying to ‘steal’ Europe’s largest nuclear power plant by cutting it off from Ukraine’s power grid and leaving it on the brink of a radioactive disaster .
The Zaporizhzhia nuclear power plant has been without an outside source of electricity since Monday and is supplied for its own safety systems by the only one of its six reactors that remains operational, Enerhoatom chief Petro Kotin told The Associated Press. .
“We are trying to keep this unit running as much as possible, but eventually it will have to be shut down and then the station will switch to diesel generators,” he said, adding that these generators are “the station’s last defense before a write-off. “. accident.”
— Associated Press
4 nations bordering Russia restrict Russian tourists
A women’s souvenir shop in Budva, Montenegro’s main summer tourist destination on May 24, 2022.
Stevo Vasiljevic | Reuters
Four European countries bordering Russia will take regional measures this month to prevent Russians from entering Europe’s visa-free zone overland, as they “are increasingly concerned about the substantial influx and growing number of Russian citizens”.
“We believe this is becoming a serious threat to our public security and to the entire shared Schengen area,” Estonian Prime Minister Kaja Kallas said. “There are people who come with the aim of undermining the security of our countries.”
Poland and the three Baltic countries – Estonia, Latvia and Lithuania – have agreed on a common regional approach with “the political will and the firm intention to introduce temporary national measures for Russian citizens holding visas from ‘EU’.
These measures are expected to come into force in each of the four countries by September 19.
— Associated Press