In 2023, the EU exported 8.5 million tonnes of recyclable products (paper, plastic and glass) to extra-EU countries, a 34% increase from 2022 (6.4 million tonnes), while imports dropped by 19% to 3.2 million tonnes, down from 4.0 million tonnes in 2022.
The EU Commission has opened an in-depth investigation to assess whether a German recapitalisation measure of €6 billion in favour of Deutsche Lufthansa AG was in line with EU State aid rules. In 2020, the measure was initially approved by the Commission, but subsequently annulled by the EU General Court in May 2023. An appeal submitted by Lufthansa is still pending.
“Russia’s economy is currently growing strongly thanks to the defence boom; however, in the long term, the sanctions could act like a slow working poison”, says Vasily Astrov, Russia expert at the Vienna Institute for International Economic Studies (wiiw).
These are the headlines of our weekly Insight EU Finance Monitoring, published each Friday.
At the EU Justice Council meeting in Luxembourg, justice ministers addressed the fight against impunity in the context of Russia’s war of aggression and the implementation of the EU anti-racism action plan.
Statement by EU Commissioner Breton on the withdrawal of LONGi Solar Technologie GmbH and Shanghai Electric from public procurement following the Commission’s opening of an investigation under the Foreign Subsidies Regulation.
The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Global Digital Integrated Solutions Company (‘Aramco Digital’) of Saudi Arabia and LTIMindtree Limited of India.
The transaction relates primarily to the supply and trade of energy products. The EU Commission concluded that the notified transaction would not raise competition concerns, given the companies’ limited combined and individual market positions resulting from the proposed transaction.
The transaction relates primarily to the production of renewable energy in the United States. The EU Commission concluded that the notified transaction would not raise competition concerns, given the limited impact on the European Economic Area.
The European Banking Authority (EBA) today launched a public consultation on technical standards to specify how to create a legal mechanism in order to recognise a property under construction in the own fund requirements calculation under the standardised approach of credit risk.
The European Commission has registered a European Citizens’ Initiative (ECI) entitled ‘Save the Planet by shifting taxation from labour to greenhouse gas emissions’.
According to the Constitution of the Russian Federation, Prime Minister Mikhail Mishustin submitted his proposals on the new Government to the State Duma for consideration.
On 23 May, the Eurovision debate between the lead candidates for the job of European Commission President will take place in the Brussels plenary chamber. On 16 May, EBU representatives will determine, in a draw, the position of the candidates on the stage, the first speaker on each topic, and the order of the ‘spotlight’ interview.
The Commission provided €50 million in loans to North Macedonia this week. This is the first tranche of the ongoing Macro-Financial Assistance (MFA) operation to the country.
China and Sweden have a long history of economic and trade exchanges. At present, more than 10,000 Swedish enterprises are conducting trade with China and more than 600 Swedish enterprises are operating in China.
Xi said China highly valued Hungary’s “firm commitment to the One China policy”, and he pledged to provide China’s steady support for Hungary’s economic development.
Prime Minister Viktor Orbán pointed out that there is a great opportunity to expand the cooperation between Hungary and China to the entire spectrum of the nuclear industry.
Today, the EU Commission has sent a request for information (RFI) to Temu requesting the platform to provide detailed information and internal documents on the mitigation measures taken against the presence and reappearance of traders selling illegal products on its online marketplace.
Brussels, 1 December 2022 At the 10th meeting of the Trade Committee under the EU- Korea
SIRIUS shares latest information and discusses the way forward on cross-border access to electronic evidence
Brussels, 30 November 2022 Yesterday, the EU took another important step towards delivering on the goals
Commission welcomes political agreement to strengthen cross-border access for criminal investigations Brussels, 29 November 2022
Brussels, 29 November 2022 More effective procedures for product recalls and removal of dangerous goods
Brussels, 28 November 2022 Given the ever-increasing risks of cyber attacks, the EU is strengthening
Brussels, 28 November 2022 The Council adopted legislation for a high common level of cybersecurity across
Brussels, 28 November 2022 Today, African Union and European Union Commissions engaged on their strategic
Brussels, 28 November 2022 We welcome the launch today of a new Digital Partnership between the
Brussels, 25 November 2022 On 13 December 2022 the Commission will hold a workshop on digital mergers. The workshop
At the EU Justice Council meeting in Luxembourg, justice ministers addressed the fight against impunity in the context of Russia’s war of aggression and the implementation of the EU anti-racism action plan.
The efforts of all actors, including non-governmental organisations, involved in rescuing persons in distress at sea in line with international law, are commendable. To prevent loss of life at sea, the Commission has repeatedly called on all actors to ensure full cooperation and coordination, in line with the obligations set out by international and, where applicable, EU law. To this end, the Commission promotes a structured cooperation among actors involved in Search and Rescue (SAR), including through the SAR contact group.
The Council today adopted a decision and a regulation clarifying the obligations of Central Securities Depositaries (CSD) holding assets and reserves of the Central Bank of Russia (CBR) that are immobilised as consequence of EU’s restrictive measures. After Russia launched its illegal and unjustified full-scale invasion of Ukraine in February 2022, the EU, in coordination with international partners, decided to prohibit any transactions related to the management of reserves as well as of assets of the CBR. As a result of that prohibition, the relevant assets held by financial institutions in the EU member states are “immobilised”.
The meeting was attended by Prime Minister Mikhail Mishustin, First Deputy Prime Minister Andrei Belousov, Deputy Prime Minister – Chief of the Government Staff Dmitry Grigorenko, Presidential Aide Maxim Oreshkin, Finance Minister Anton Siluanov, and Central Bank Governor Elvira Nabiullina.
Only 15 out of 36 hospitals are still “partially or minimally functional” in the enclave, Tedros said, amid fresh reports of continuing intense bombardment by the Israeli military in southern Gaza that accompanied the rescue mission of two Israeli male hostages from the second floor of a building in Rafah.
The UK announces new sanctions against extremist Israeli settlers who have violently attacked Palestinians in the West Bank.
The Foreign Secretary has announced sanctions on 4 extremist Israeli settlers who have committed human rights abuses against Palestinian communities in the West Bank.
There have been unprecedented levels of violence by extremist settlers in the West Bank over the past year. Some residents of illegal Israeli settlements and outposts have used harassment, intimidation and violence to put pressure on Palestinian communities to leave their land.
France expresses its deepest concern following the Israeli strikes in Rafah.
More than 1.3 million people are currently taking refuge in Rafah. It is also a vital crossing point for delivering humanitarian aid to Gaza’s population. A large-scale Israeli offensive in Rafah would create a disastrous and unjustifiable humanitarian situation on a new scale. In order to prevent such a disaster, we reiterate our call for an end to the fighting.
The Ministry of the Interior has requested comments on a draft version of amendments to the Citizenship Act concerning the period of residence. The public consultation will end on 4 March 2024. According to the proposed amendments, the period of residence required for Finnish citizenship would be extended from the current five years to eight years. In line with the Government Programme, the Ministry of the Interior began drafting amendments to the Citizenship Act in October. The amendments seek to both tighten the requirements for acquiring Finnish citizenship and encourage immigrants to integrate into Finnish society. The legislative reform will be implemented in stages in three projects.
The Ministerial Committee on European Union Affairs decided that Finland’s energy policy positions would be utilised in exerting advance influence. Finland wants to increase the use of technology-neutral energy, such as nuclear energy, in the EU. Finland’s objective is to have its views taken into account in the European Commission’s forthcoming work programme and future legislative proposals. Finland emphasises that nuclear energy should be considered equal to other clean forms of energy production and means to reduce emissions. Finland considers that a technology-neutral energy policy contributes to achieving the climate objectives in a cost-effective manner and improves the security of supply and the management of Europe’s dependence on fossil fuels and minerals.
We are going to take stock with the [EU] Cooperation and Development Ministers of our policy of cooperation with emerging countries. We are in the middle of the financial perspective. It has to be reviewed what we have done and what still has to be done. We have to review the financial allocations in order to continue doing in the framework of these two wars, because certainly, everything that we do is being affected by these two wars [and] the perceptions of these wars around the world.
On 7 February, two suspects were arrested in Malta and Nigeria in the framework of the operation. The suspects are accused of selling the malware and supporting cybercriminals who used the malware for malicious purposes.
Europol provided analytical support to the investigation which led to the operation involving Australia, Canada, Croatia, Finland, Germany, Malta, the Netherlands, Nigeria, Romania and the United States. These countries provided valuable assistance securing the servers hosting the Warzone RAT infrastructure.
In 2022, our trade in goods increased by 66% and trade in services by 62%, compared to pre-CETA levels (2016). On latest figures confirm this upwards trend. In addition, CETA provided the EU with a solid, trusted source of supply for key resources such as energy and raw materials, at a critical moment at the wake of Russia’s war against Ukraine. Concretely, in these sectors, EU imports from Canada increased by a quarter (+ €6 billion) in just one year in 2022 compared to 2021.
The High-Level Working Group on the Environmental Consequences of the War, co-chaired by Head of the Office of the President of Ukraine Andriy Yermak and former Deputy Prime Minister and Minister for Foreign Affairs of Sweden Margot Wallström, presented the results of their work – the Environmental Compact for Ukraine at a meeting in Kyiv.
Vice President of the European Parliament and former Minister for International Development of Finland Heidi Hautala, European Commissioner for Environment, Oceans and Fisheries Virginijus Sinkevičius, Member of Parliament of Sweden Rebecka Le Moine, former member of the Åland Parliament and member of the Ecocide Alliance Simon Holmström attended the meeting.
The EU Commission has approved the acquisition of joint control of NTS Middle East of the United Arab Emirates by ADNOC Drilling Company, Alpha Dhabi Holding, both of the United Arab Emirates, and Tubacex of Spain. The transaction relates primarily to the provision of specialised machining services to the oil and gas sector.
Parliament on Wednesday approved the provisional political agreement with Council on updated rules on the composition, name, labelling and presentation of certain ‘breakfast’ foodstuffs, the so-called “breakfast directives”, with 603 votes in favour, 9 against and 10 abstentions.
The regulation, addressing emissions from new trucks, buses and trailers, was endorsed by MEPs with 341 votes in favour, 268 against and 14 abstentions.
The legislative package, covering medicinal products for human use, consists of a new directive (adopted with 495 votes in favour, 57 against and 45 abstentions) and regulation (adopted with 488 votes in favour, 67 against and 34 abstentions).
With 481 votes in favour, 79 against and 26 abstentions, Parliament adopted the deal reached with the Council in January 2024 on revising the EU’s water management and urban wastewater treatment standards to better protect public health and the environment.
The organisers of the initiative call on the Commission to submit a proposal for financial support to Member States for enabling safe termination of pregnancies for anyone in Europe who lacks access to safe and legal abortion.
On 11 and 12 April, EU Commissioner for Climate Action Wopke Hoekstra will discuss climate action measures with national representatives. He will also visit innovative renewable energy projects.
Climate change is making wildfires more and more frequent. And it will get worse, as the European Climate Risk assessment report published in March highlights.
The projects will aid the installation of electric recharging points and hydrogen refueling stations, as well as the electrification of airports, taking Europe closer to its Green Deal goals.
Under the Temporary Crisis and Transition Framework, Germany asked the Commission to approve a €2.2 billion scheme to support investments in the electrification of industrial processes and in the substitution of fossil fuels with renewable hydrogen or hydrogen-derived fuels.
The Commission wants to discuss how to strengthen and support the implementation of the European Green Deal, contributing to a reinforced industrial approach.
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