Russia | Tags | Econostrum | Economic News in the Mediterranean

Lebanon will be able to extract its own natural gas

09/20/2022 | Industry

LEBANON / ISRAEL. Negotiations on maritime boundaries between Lebanon and Israel are expected to end soon with an agreement allowing Beirut to extract natural gas from an offshore field.

European Commission calls for emergency intervention in energy markets

09/15/2022 | Society / Institutions

EU. In her State of the Union address, Ursula von der Leyen, President of the European Commission, proposed a new emergency package for European energy markets in response to recent dramatic increases in energy prices.

energy, EU, European Commission, European Union, gas, Kadri Simson, Putin, Russia, Russian gas, state of the union address, Ukraine, Ursula von der Leyen

Turkey revives one of its essential resources: tourism

08/22/2022 | Services

TURKEY. With the windfall of Russian visitors and the return of Israelis, the Turkish Ministry of Tourism expects to reach 47 million tourists in 2022 for revenues of $37 billion.

Ankara, Antalya, Bulent Bulbuloglu, Erdogan, Germany, Israel, Kiev, Mir, Moscow, Russia, tourism, tourism Turkey, Turkey, Turkish lira, Türofed

Egypt's central bank governor throws in the towel amid economic meltdown

08/18/2022 | Society / Institutions

EGYPT. Tareq Amer, Governor of the Central Bank of Egypt, has decided to resign one year before the end of his mandate. His country is experiencing a serious economic crisis.

Abdel-Fattah Sissi, Cairo, CBE, Central Bank of Egypt, Covid-19, Egypt, Egyptian economy, GlobalMarkets, IMF, International Monetary Fund, Russia, Tareq Amer, Ukraine, World Bank

IMF urges Egypt to speed up fiscal and structural reforms

07/28/2022 | Society / Institutions

EGYPT. The International Monetary Fund (IMF) has said that Egypt, which is seeking a loan extension, must make "decisive progress" in fiscal and structural reforms.

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EU member states agree on plan to reduce gas consumption

07/28/2022 | Society / Institutions

EU. In order to respond to the decline in Russian gas supplies, the Council of the European Union adopts a European Commission proposal to organise a coordinated reduction in gas consumption in the 27 Member States.

European Commission authorises €500m state aid to Croatian companies

07/12/2022 | Society / Institutions

CROATIA. The European Commission authorises a Croatian state aid scheme under the temporary framework defined by the institution to better respond to crisis situations.

bank, Croatia, Croatian Bank for Reconstruction and Development, European Commission, HBOR, Hrvatska Banka Za Obnovu I Razvitak, Margrethe Vestager, Russia, state aid scheme, Ukraine

Engie and Sonatrach extend their gas supply agreement

07/07/2022 | Society / Institutions

ALGERIA / FRANCE. Sonatrach and the French energy group Engie are extending their natural gas purchase and sale agreement and want to extend it to LNG.

Greece gets €1.63bn from Europe to help with energy and climate transition

06/17/2022 | Environment

GREECE. Greece will benefit from €1.63bn from the European Commission's first Just Transition Fund (FTJ) programme to "mitigate the effects of the energy and climate transition on the local economy and society".

EU to buy natural gas from Israel via Egypt

06/16/2022 | Society / Institutions

ISRAEL / EGYPT / EU. Faced with the new geopolitical reality, the European Union signs a tripartite agreement with Israel and Egypt to increase supplies of Israeli natural gas from Egypt after liquefaction there.

Turkey to launch offensive in Syria to keep YPG Kurds away from its southern border

05/31/2022 | Society / Institutions

TURKEY / SYRIA. Turkish President Recep Tayyip Erdogan plans to resume fighting in Syria to push the Kurdish YPG in northern Syria 30 km from its southern border.

EU to help farmers affected by the consequences of the war in Ukraine

05/25/2022 | Society / Institutions

EU. Faced with rising input costs, the European Commission will allow Member States to devote 5% of the EAFRD to farmers and SMEs in the sector.

agri-food, agriculture, CAP, Common Agricultural Policy, EAFRD, European Agricultural Fund for Rural Development, European Commission, European Union, Italy, Janusz Wojciechowski, Member States, Russia, Ukraine

Italy will be able to support the agriculture and fisheries sectors with €1.2 billion

05/19/2022 | Society / Institutions

ITALY. The European Commission authorises the Italian State to implement a €1.2 billion framework scheme to support the agriculture, forestry, fisheries and aquaculture sectors.

agriculture, animal feed, aquaculture, competition, European Commission, fisheries, forestry, France, Italy, Margrethe Vestager, Russia, state aid, Ukraine

Egypt plans to sell $24bn worth of public assets

05/17/2022 | Society / Institutions

EGYPT. The Egyptian government presents a plan including urgent measures to support the Egyptian private sector, improve the business climate and attract foreign direct investment.

Egypt, Egyptian economy, Egyptian private sector, Mustafa Madbouly, privatisations, Russia, subsidies, Ukraine, wheat

French farms, fish farms and Air France employees to receive €420m in aid

05/12/2022 | Society / Institutions

FRANCE. The European Commission approves €400m of state aid to support French farms and fish farms and proposes to provide €17.7m of support for Air France employees made redundant by the pandemic.

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European Commission and industry join forces to produce more clean hydrogen

05/10/2022 | Environment

EU. The European Commission and twenty CEOs of electrolyser companies sign an agreement to increase electrolyser production capacity in the European Union by a factor of ten.

Brussels, EIB, electrolysers, energy, environment, European Alliance for Clean Hydrogen, European Commission, European Investment Bank, Frans Timmermans, gas, Green Deal for Europe, Hydrogen Europe, REPowerEu, Russia, Thierry Breton, Ursula von der Leyen

Five Mediterranean countries in the top 20 of world military spending

05/03/2022 | Society / Institutions

MEDITERRANEAN. World military spending has reached $2.1 trillion in 2021, an all-time record to which Mediterranean countries have contributed $150 billion.

Libya's political crisis spills over into oil production

04/21/2022 | Industry

LIBYA. The political dispute between Libya's two rival prime ministers is now impinging on the country's economy itself because of the blockage of the oil infrastructure, which accounts for 97% of state revenue.

The IMF revises downwards the prospects of the euro zone

04/21/2022 | Society / Institutions

EU. The war in Ukraine, but also the effects of the Covid-19 which persist, will impact more strongly than expected on the world and European economies according to the International Monetary Fund.

Bretton Woods, Covid-19, euro area, European Union, France, Germany, growth, International Monetary Fund, Italy, Pierre-Olivier Gourinchas, Russia, Ukraine

The Eastern Mediterranean becomes a new gas province

04/05/2022 | Society / Institutions

MEDITERRANEAN. The problem of gas resources in the Mediterranean, but also of their sharing, was invited to the 11th Cybèle meeting in Marseilles whereas the decision of the European Union not to be supplied with Russian gas imposes to find other solutions.

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