Latest Articles about Europe
Uncertain German Perspectives on Energy Relations with Russia
Beyond the energy sector itself, natural gas induces structural dependency at the macroeconomic level. The pipeline mode of delivery is based on long-term contracts, locking in the predominant share of the German market for Russia. The spot market for natural gas, which could provide an... MORE
Germany Vulnerable to Russian Energy Supply Manipulations
Russia’s halt of gas deliveries via Ukraine to Europe in mid-winter underscores Germany’s dilemmas on energy security and policy. Those dilemmas are largely unnecessary and even self-inflicted. The country has allowed itself to drift—and to some extent be maneuvered—into a situation of overdependence on Russian... MORE
Gazprom’s Gas Price Shell Game
How does Russia’s Gazprom set the price for the gas it sells its customers in the former Soviet republics and the EU? Few, if any, managers in Gazprom can answer this question with any measure of certainty. The formula for calculating this seemingly capricious price,... MORE
A Possible Alliance Between Yanukovych and Yushchenko
The establishment of a new coalition in the Ukrainian parliament has left the Party of Regions (PRU) led by former Prime Minister Viktor Yanukovych in the opposition. Yanukovych wants to use this opportunity to come back to power on a wave of popular discontent with... MORE
Increased Western Involvement in Caspian Sea Energy Transport
On December 23 Austria’s OMV energy conglomerate and Germany’s leading power producer RWE (Rheinisch-Westfaelische Elektrizitaetswerke) announced an initiative to create a joint company for gas transportation from the Caspian Sea’s eastern shore westward. This initiative targets mainly Turkmen gas, aiming to build a trans-Caspian pipeline... MORE
Serbia’s Oil Industry: a Christmas Gift to Gazprom
On December 24, 2008, the Serbian government ceded control over Serbia’s Oil Industry (Naftna Industrija Srbije, NIS) to Russian Gazprom’s oil subsidiary, Gazprom Neft. Motivated to a large extent politically and negotiated poorly by Belgrade, the cession amounts to a Christmas gift for Gazprom and... MORE
Gazprom Stops Gas Deliveries to Ukraine—What Next?
On the morning of January 1, OAO Gazprom, the Russian state-owned gas monopoly, in league with the Russian government, decreased the volume of gas shipped to Ukraine by 90 million cubic meters a day—the amount that Ukraine had contracted for in 2008. Gas shipments of... MORE
Russia to OSCE: Recognize South Ossetia or Get Out
Russia is threatening to run the OSCE out of South Ossetia at the end of the year. Moscow will only relent if the OSCE recognizes the Russian-installed authorities as legitimate and treats Russian-occupied South Ossetia as an essentially sovereign state.The OSCE has maintained a monitoring... MORE
Spain Agrees to Extradite Former Rebel Commander
Spain on December 13 agreed to extradite a Chechen wanted on terrorism charges, Murad Gasayev, to Russia in connection with the June 2004 attack on government buildings in Ingushetia. According to the Associated Press, Gasayev was arrested by police in an apartment in the eastern... MORE
Hard Times for Ukrainian Banks, Central Bank Chairman Under Fire
Ukraine’s banking system is teetering on the brink of disaster. The International Monetary Fund’s (IMF) $16.4-billion loan (see EDM, November 12) has probably come too late either to restore trust in banks or to prevent the national currency, the hryvnya, from a free fall. Most... MORE