Finance & Trade

EU Sanctions lead to Russian Gas Cut Off through Ukraine

August 09, 2022

Russian oil supplier Transneft, who supplies oil through the southern Druzhba pipeline servicing Hungary, Slovakia and the Czech Republic has stopped delivery citing issues with EU financial sanctions.
Paul Hastings: Warning of a New EU Corporate Sustainability Reporting Directive

July 27, 2022

In June, the Council of the European Union and European Parliament reached a provisional political agreement on the Corporate Sustainability Reporting Directive (“CSRD”), which aims to create global sustainability reporting standards, more than quadrupling the number of companies required to report on sustainability.
A Gas Worries Continue, EU Invests on Hydrogen

July 20, 2022

The European Commission passed €5.4 billion in hydrogen subsidies launching 41 projects in 15 countries centered around hydrogen technology, in what is only the first of four expected waves of state aid approvals for hydrogen projects in the European Union despite questions remaining concerning the approval process and impact on the environment.
Europe Faces a Summer Facebook Blackout

July 11, 2022

The Irish Data Protection Commission informed its counterparts in Europe that it will block Facebook-owner Meta from sending user data from Europe to the U.S., potentially blocking Europeans from using Facebook and Instagram, cracking down on Meta's last legal resort to transfer large chunks of data to the U.S.
EU Parliament Votes to Give Green Labels to Nuclear and Gas

July 06, 2022

Nuclear and natural gas-fired power plants will now be able to be marketed as sustainable investments on financial markets thanks to a recent vote in favor of the measure by the European Commission.
European Commission proposes €1B in aid to Ukraine

July 06, 2022

Following concerns of a financial crisis in Ukraine, the European Commission proposed to provide €1 billion in loans as macro financial assistance as part of the €9 billion aid package announced over a month ago.
Hungary Veto’s EU’s Global Corporate Tax Plan

June 22, 2022

The European Union failed to implement a global corporate tax rate of 15 percent before the end of France’s six-month presidency due to a last minute veto of the plan by Hungary as tax initiatives require unanimity to pass in Brussels.
Kremlin’s Gas Threats Challenge EU Agenda and Stability

June 22, 2022

Russian President Vladimir Putin has cut off gas deliveries to some of its best customers in the European Union, threatening the EU’s climate agenda and general stability as the bloc scrambles to replace gas-fired power with coal.
EU Leaders Agree on Russian Oil Embargo

June 01, 2022

EU leaders agreed on a political deal to impose sanctions on Russian oil imports, which European Commission President Ursula von der Leyen announced will cut around 90% of oil imports from Russia to the EU by the end of the year.
EU Moves to Criminalize Sanctions Evasion

May 25, 2022

Politico reports that the European Commission has made a move to criminalize sanctions evasion at the European Union (EU) level in order to provide legal grounds for the confiscation of Russian oligarchs’ assets seized by EU countries.