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Latest Articles about Central Europe
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Surgut’s Exit From Hungary Is a Success for Europe
Hungary’s government has successfully completed negotiations with the Russian government and Surgutneftegaz about the latter’s exit from Hungary. The government is purchasing Surgut’s 21.2 percent stake in the oil and gas company MOL, Hungary’s largest business entity and Central European oil-refining leader. Surgut, a Kremlin-connected... MORE
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Croatian Government Reverses Move Against MOL, But Problems Persist
The Croatian government has reversed a move that would have jeopardized its goal to complete accession negotiations with the European Union this year. A government meeting on April 2 was set unilaterally to impose a 49 percent limit on shareholding in the INA oil and... MORE
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Moscow Backs Surgut’s Push in Hungary
Co-chairing a session of the Russian-Hungarian Intergovernmental Economic Cooperation Commission in Moscow, Deputy Prime Minister Viktor Zubkov asked Hungary to eliminate “subjective” obstacles to Russian investments there (MTI, March 21). In the vocabulary of many Russian officials, “subjective” is Soviet-speak for unjustified or illegitimate, as... MORE
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Gazprom-Austrian OMV Agreement: A Political Blow To Nabucco
After selling a large block of shares in Hungarian MOL to the Kremlin-connected Surgutneftegaz, Austrian OMV CEO Wolfgang Ruttenstorfer’s final gift to European energy security is an agreement with Gazprom that interferes with the EU-backed Nabucco project. On February 21 in Moscow, Gazprom CEO Aleksei... MORE
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Austrian OMV Helped Russian Surgut Launch Takeover Attempt Against Hungarian MOL
Two parallel court proceedings in Vienna have confirmed that Austrian OMV and Russian Surgut Neftegaz had coordinated their hostile takeover attempts against Hungarian MOL. The Austrian and the Russian company were targeting MOL’s oil-refining business, which is recognized as the most efficient in Central Europe.... MORE
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“Eagle Guardian” and the Strange Case of the Leak Without Legs (Part Two)
As WikiLeaks exposed details concerning “Eagle Guardian,” Russian President Dmitry Medvedev was concluding the first such state visit to Poland in eight years. For most of that period relations between Warsaw and Moscow had progressively worsened. But over the last year dramatic improvements have occurred,... MORE
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“Eagle Guardian” and the Strange Case of the Leak Without Legs (Part One)
For more than a month the media was full of accounts of the latest revelations from WikiLeaks broadcasting US diplomatic cables to the world. The international speculation about the ramifications of the world reading US classified diplomatic traffic gave birth to a media frenzy and... MORE
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Surgut Neftegaz is Thwarted in Hungary, While Austria Examines OMV-Surgut Deal
Vienna’s Prosecutor Office announced on November 17 that it has brought charges against OMV’s oil and gas company CEO, Wolfgang Ruttenstorfer, following the Austrian financial regulators’ investigation into OMV’s sale of a large stake in Hungarian MOL to Russian Surgut Neftegaz (Austria Presseagentur, November 17,... MORE
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Russia Targeting Oil Assets in Poland and Lithuania
On October 30, Poland announced its intention to privatize the state-owned majority stake in the country’s second-largest oil industry concern, Lotos Group. The Polish government is inviting interested parties to pre-tender talks on the Lotos Group. The government has already talked with the Russian government... MORE
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Polish Government Defends Nontransparent Gas Agreement with Russia
The Russian-Polish gas agreements (“Russian-Polish Gas Agreement Leaves Key Questions Unanswered,” EDM, November 2) mark an unprecedented turnabout by the Polish government, siding with Russia and Gazprom despite the European Commission’s cautionary advice (EDM, October 4, 5). The Commission’s concerns are of a legal and... MORE