WEDNESDAY, 18 MAY 2022

 

CONNECT

Facebook Linked In Twitter
IMH LTD

Anastasiades: COLA Is Making Up For The Loss Of Income To Some Extent

"Don't Forget Cyprus", Greek Premier Tells US Congress In Historic Address

IMH LTD

INTERNATIONAL

brought to you by CIPA

EU Edges Towards Oil Sanctions On Russia, No Deal Yet

EU Edges Towards Oil Sanctions On Russia, No Deal Yet

European Union governments moved closer on Sunday to agreeing tough sanctions against Russia that include a ban on buying Russian oil, but scheduled more talks for Monday to work out how to ensure countries most dependent on Russian energy can cope.

Ambassadors of the 27 EU countries have been meeting daily to discuss details of the sixth sanctions package targeting Moscow over its invasion of Ukraine since the European Commission announced proposals for it on May 4.

"The Council (of EU governments) is united on the need to adopt a 6th sanctions package," the French presidency of the EU and the Commission said in a statement. "Very significant progress has been made on most of the measures."

The sticking point is how to secure oil supplies to landlocked Hungary, Slovakia and the Czech Republic, which all depend heavily on Russian crude delivered via Soviet-era pipelines and face a challenge to secure alternative sources.

"We still have work to finalize, in a spirit of solidarity, the guarantees which are necessary for the oil supply conditions of the Member States which currently find themselves in a very specific situation with regard to supply by pipeline from Russia," the joint statement said.

To get all EU members on board, the Commission proposed changes on Friday to its planned embargo on Russian oil to give the three countries more time to shift their energy supplies, EU sources said.

Under the initial plan, all EU countries would stop buying Russian crude within six months and Russian refined products by the end of the year.

The tweaked proposal would give Hungary, Slovakia and the Czech Republic help to upgrade their refineries to process oil from elsewhere and delay their exit from Russian oil to 2024.

There would also be a three-month transition before banning EU shipping services from transporting Russian oil, instead of one month as initially proposed, to address concerns raised by Greece, Malta and Cyprus about their shipping companies, one of the sources added.

MORE ON INTERNATIONAL

Warhol's Marilyn Monroe Painting Sold For Record-Breaking $195m

An iconic painting of Marilyn Monroe by Andy Warhol has been auctioned for $195m (£158. ...

Bitcoin Falls To Lowest Value Since January As Tumbling Stock Markets Continue To Hurt Crypto

Bitcoin fell to its lowest level since January on Monday as slumping equity markets ...

EU Edges Towards Oil Sanctions On Russia, No Deal Yet

European Union governments moved closer on Sunday to agreeing tough sanctions against ...

FROM AROUND GOLDNEWS

   

Anastasiades: COLA Is Making Up For The Loss Of Income To Some Extent

The cost-of-living adjustment (COLA) is making up for the loss of income to some extent, Cyprus’ President, Nicos Anastasiades said on Tuesday ahead of a ...
   

Parimatch Tech At The Top Of The List of Cyprus’ Best Workplaces 2022, For Great Place To Work

The strong corporate culture, the people-centric approach and the company values are the elements that lead Parimatch Tech to the Great Place to Work® list ...
   

EU Forecasts For Cypriot GDP In 2022 And 2023 In Line With Our Forecasts, Finance Ministry Says

The European Commission forecasts for Cypriot GDP for 2022 and 2023, at 2.3% and 3.5% respectively, are in line with the latest forecasts of Cyprus Ministry of ...
   

"Don't Forget Cyprus", Greek Premier Tells US Congress In Historic Address

Greek Prime Minister Kyriakos Mitsotakis asked on Tuesday the US Congress not to forget Cyprus in a historic address he delivered.
   

Cyprus Innovation Awards 2022

The submission of applications for the Cyprus Innovation Awards 2022 has just begun. If your company or organization has successfully implemented an ...
   

Launch Of Tobacco Heating Product gloTM from BAT In Cyprus, With Benefits For The Local Economy And Society

The tobacco heating product gloTM is being launched in Cyprus by BAT, a leading, multi-category consumer goods business. This move is expected to make a ...
   

MoU On Cooperation Between The Deputy Ministry Of Research, Innovation And Digital Policy And Amazon Web Services

The Deputy Ministry of Research, Innovation and Digital Policy signed today, at the Presidential Palace, a Memorandum of Understanding with Amazon Web Services ...
   

Fire Safety Week by CNP ASFALISTIKI and Cyprus Fire Service

For the 21st consecutive year, CNP ASFALISTIKI and Cyprus Fire Service, join forces in the common effort that aims to prevent fires and deal with them. ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Great_Place_to_work
Enter_Cy_10/20-4/23

IMH LTD