Romania’s new ruling coalition still in limbo after ten days of talks

Iulian Ernst in Bucharest November 18, 2021

Romania's two biggest parties are in talks on forming a broad coalition in an attempt to end the country's deepest political crisis in decades, but so far they have struggled to put aside their rivalry and find common ground.

Lukashenko demands EU recognise him as president, withdraw sanctions during Merkel call

bne IntelliNews November 18, 2021

Belarusian leader Alexander Lukashenko demanded that the EU recognise him as the legitimate President of Belarus and told German Chancellor Angela Merkel that the EU should withdraw its sanctions on his country during a telephone call on November 16.

EBRD suspends all new business in Belarus

bne IntelliNews November 17, 2021

The European Bank for Reconstruction and Development (EBRD) has suspended making any new private sector investments into Belarus to synchronise its actions with Europe's efforts to increase pressure on Belarus' President Alexander Lukashenko.

Sberbank extends additional $800mn in 7-year loans for Turkey's first nuclear plant

Akin Nazli in Belgrade November 17, 2021

Pace of construction said to have reached next level. But controversies at the building site have become a matter of everyday news for Turks.

Stranded migrants clash with Polish soldiers on border with Belarus

Wojciech Kosc in Warsaw November 17, 2021

Migrants stranded between Belarusian border guards and Poland’s border fence guarded by military and police began rioting on November 16 in what Polish authorities described as an “attack on Poland”.

Hungarian central bank bows to pressure from markets and ups base rate by 30 bps to 2.1%

bne IntelliNews November 17, 2021

MNB stepped up the pace of the tightening cycle from a 15 bps hike in the previous two meetings.

Large-scale Azerbaijani offensive against Armenia marks worst fighting since war

Neil Hauer in Yerevan November 17, 2021

Azerbaijan and Armenia agree a ceasefire to end a large-scale Azerbaijani offensive against Armenian territory.

Hungary’s 'Stop Soros' legislation against migration violates EU rules, says CJEU

bne IntelliNews November 17, 2021

Hungarian legislation criminalising assistance to asylum-seekers violates European Union rules, says EU's top court.

Concerns Turkey could face another currency crisis ‘growing louder’ says Capital Economics

bne IntelIiNews November 16, 2021

The lira has crashed through psychologically important level of 10/$ following “continued obedience” of Turkish central bank to President Erdogan’s pressure for rate cuts.

Ministry reveals Montenegro massively overspent on motorway project that ramped up country’s debt

Denitsa Koseva in Sofia November 16, 2021

Two feasibility studies published by the capital investment ministry indicate Montenegro’s previous government borrowed at least $140mn more than the first priority stretch of the Bar-Boljare motorway should have cost.

Slovenia launches mass mobilisation of medical staff to fight pandemic

Valentina Dimitrievska in Skopje November 16, 2021

Shortages of doctors and nurses reported as latest wave of pandemic overwhelms Slovenian hospitals.

Budapest Airport owners enter due diligence process with government

bne IntelliNews November 16, 2021

Owner AviAlliance confirmed reports that the consortium had received a revised, non-binding bid.

Poland asks its top court to rule on legality of EU’s fine over Turow mine

Wojciech Kosc in Warsaw November 16, 2021

The move marks another ratcheting up of Poland's dispute with the EU, with the tribunal being asked to rule on whether the CJEU itself is breaching the EU treaty.

Russia strikes deal on Iran's multi-trillion dollar Chalous gas field as ‘final act securing control over European energy market’

bne IntelIiNews November 16, 2021

Tehran said to be expecting geopolitical payoff by giving up control of field that makes Iran holder of world’s biggest gas reserves.

German regulator Bundesnetzagentur suspends the approval of Nord Stream 2 gas pipeline, gas prices spike

bne IntelliNews November 16, 2021

In a surprise decision, the German Bundesnetzagentur, responsible for awarding the certification that would allow the controversial Nord Stream 2 gas pipeline, has suspended the process, killing off hopes for an early start to the pipeline's work.

FSUOGM: Sechin warns of energy “super cycle”

bne IntelliNews November 16, 2021

Russia’s state-owned Rosneft has followed other oil and gas majors in reporting a surge in profits in the third quarter on the back of higher prices, with its CEO Igor Sechin predicting a “super cycle” in energy markets.

EU slaps Belarus with new sanctions for stoking migration crisis at Poland’s border

Wojciech Kosc in Warsaw November 16, 2021

A list of people and entities to be hit by asset freezes and travel bans is expected to be finalised in the coming weeks.

Russia's Sber pulls out of VK ( stake, JVs overshadowed

bne IntelliNews November 15, 2021

Russia's largest lender Sber has sold its 36% stake in MF Technologies, which controls 57.3% of VK (former Group) for RUB12.8bn ($175mn) to Gazprombank.

EU to expand the scope of sanctions on Belarus as migrant crisis deepens

bne IntelliNews November 15, 2021

EU foreign ministers in Brussels said on November 15 they will expand the scope of sanctions on Belarus in response to the migrant crisis on the border with Poland, where thousands of refugees are trapped in rapidly deteriorating conditions.

Top opposition politicians back protesting farmers in Albania

bne IntelliNews November 15, 2021

Cash-strapped farmers hit by soaring energy and fertiliser costs are demanding Edi Rama’s government rethink the 2022 budget to give them more support.