EU boosts imports of Russian LNG despite phaseout pledge (POLITICO)
By Victor Jack · Aug 30, 2023 Russian sales of liquefied natural gas to the EU hit record levels this year despite the bloc’s efforts to cut back on energy imports from Moscow, new data shows. EU countries bought 9.5 million tons of LNG from Russia from January to July, according to the Kpler market […]
In the Blind Spot (Jackson Hole meets Alpbach)
Dear Subscribers, Welcome to the end of August. It’s Jackson Hole weekend. But it’s also the European Forum at Alpbach in Austria, where I have finally arrived. My Alpine location is one of the reasons the newsletter is coming on a Sunday. My arrival at Munich was scuppered on Thursday night by electrical storms, which […]
Russian oil titan Lukoil eyes the end of its reign in Bulgaria (POLITICO)
By Victor Jack · Aug 21, 2023 BURGAS, Bulgaria — Russia’s largest private oil company Lukoil casts an immense economic and political shadow over Bulgaria — but the energy major’s privileged position in the Balkan country is in growing danger. That’s because a derogation from EU oil sanctions enjoyed by its Bulgarian branch runs out […]
In the Blind Spot (The cost of Alpine life, Argentina, Bond yields)
Dear Subscribers, My trusty lieutenant Dario Garcia Giner took a well deserved break last week with some exotic travels. That’s part of the reason there was no newsletter last week (the first absence since we started the weekly format). The other reason is that we had guests over and there was an unexpected foot injury. […]
Europe’s wind sector is in a ‘severe crisis’ (POLITICO)
By Victor Jack, Abby Wallace · Aug 18, 2023 BRUSSELS — The U.K. and EU are likely to miss their 2030 wind energy installation targets as the sector runs into increasing difficulties, putting Europe’s green transition at risk. Surging inflation, supply chain bottlenecks, hold-ups in getting permits, problems with government-backed subsidy schemes and mounting competition […]
Clubcard Nation: how supermarket loyalty schemes make cash-strapped Brits an offer they can’t refuse (POLITICO)
By Ben Munster · Aug 8, 2023, MANCHESTER — Belvita fruit crunch, Crimble’s Big Choc Macaroons, Elvive Colour Protect shampoo — all among the many goods Brits purchase in vast quantities everyday, and all painfully expensive in U.K. supermarkets as the cost-of-living crisis continues to take its toll. At a growing number of supermarkets, relief […]
Russia shoots for the moon as space race against US heats up (POLITICO)
By Joshua Posaner, Matt Berg, Laura Hülsemann · Aug 10, 2023 Despite war and sanctions, Vladimir Putin is trying to haul Russia back into the space race. In the early hours of Friday morning, state space agency Roscosmos is poised to launch the country’s first lunar mission in nearly half a century as an ambitious […]
In the Blind Spot (BoJ tweak, Uber non-profits, Wind crisis)
Dear Subscribers, Thank you for your patience while I was away. We’re back to normal programming this week. This edition of the Blind Spot newsletter was compiled as usual by me with the help of Dario Garcia Giner. Economics, business, finance and more: Following the NatWest-Farage row, the heads of Britain’s largest banks committed to […]
Austrian chancellor: Right to use of cash should be in constitution (POLITICO)
By Laura Hülsemann · Aug 4, 2023 Being able to continue using cash for payments rather than cards or digital currencies should be enshrined in the Austrian constitution, Chancellor Karl Nehammer said. “More and more people are worried that cash could be restricted as a means of payment in Austria,” he said, insisting that people […]
In the Blind Spot (Another parallel universe holiday edition)
Dear Subscribers, This is another ‘lite’ (and therefore free) edition of the newsletter as I finish off my annual leave. Thanks to Dario Garcia Giner for putting the bulk of it together. We will be back with proper analysis and commentary next week. For those curious about my thoughts on the Farage affair, you can […]