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Ukraine conducted drone strikes on two oil refineries in Russia’s Samara Oblast on Saturday, targeting facilities vital to Russia’s energy infrastructure. The Novokuybyshevsk refinery experienced significant fires, while the Syzran facility was hit shortly after, impacting fuel supplies crucial for domestic and export distribution.
Caracas and the European Union have established a new cooperation agenda following discussions in the Venezuelan parliament, marking a significant economic pivot. This agreement coincides with Venezuela’s efforts to restore relations with the IMF and the World Bank.
Hungary’s incoming Prime Minister Péter Magyar announced that oil flows from Russia via the Druzhba pipeline could potentially resume next week, following communication from Hungary’s MOL. This pipeline, delivering oil through Ukraine, was halted after damage from a Russian drone strike in January, straining relations with Kyiv.
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Energy prices across Europe remain sensitive to global instability this morning. Recent developments in the Middle East are tightening oil supplies, prompting concern among European leaders regarding potential impacts on strategic independence.
EUROPE MORNING BRIEFING
This morning, Bulgaria’s caretaker Prime Minister Gyurov emphasised the need for robust diplomatic ties with the United States while addressing concerns regarding the Board of Peace’s mandate and its implications for European Union participation.
EUROPE MORNING BRIEFING
Live coverage this morning includes an in-depth debrief of yesterday’s European Council summit, focusing on key discussions among EU leaders regarding Ukraine and economic implications.
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Humanitarian funding continues to decline, with Germany and Sweden announcing significant budget cuts this morning. The EU’s negotiations for its 2028-2034 budget will see a proposed 75% increase in development aid dedicated to Ukraine and other candidate countries.
EUROPE MORNING BRIEFING
This morning, ten EU countries are in open revolt against the bloc’s flagship climate policy, the ETS. Immediate concerns over its implementation have sparked considerable backlash across Europe.
EUROPE MORNING BRIEFING
Good morning from Brussels. Following intense discussions overnight, EU leaders have reacted strongly to Viktor Orbán’s veto on Ukraine’s loan, with alternatives now being considered to resolve the impasse.
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