Jan Strupczewski

The Group of Seven richest economies aim to have a price-capping mechanism on Russian oil exports in place by Dec.

The European Commission gave Hungary a final month to address its concerns about the rule of law before asking European Union governments to suspend some of the funds Hungary is to get under the bloc's 2021-2027 budget.

Hungary is aiming to reach a deal with the European Commission to unblock billions of euros in EU funds by the end of August, Hungarian State Secretary for EU Affairs Janos Boka said on Tuesday.

European Union leaders will turn on Friday from celebration over Ukraine's start on the road to membership of their bloc to consternation over Russia's squeeze on their gas supplies, soaring prices and sputtering economies.

EU leaders on Friday warned that "cheap energy is gone" and agreed to boost preparations for further cuts in Russian gas, accusing Moscow of "weaponising" energy via a supply squeeze which Germany warned could partly shut its industry.

EU leaders will on Friday discuss how to respond to soaring energy prices and the threat of a total cut-off of Russian gas, accusing Moscow of "weaponising" energy via a supply squeeze that Germany warned could partly shut down its industry this winter.

The European Union should stop adding sanctions on Russia over its invasion of Ukraine and instead push for a ceasefire and the start of negotiations, a senior aide to Hungarian Prime Minister Viktor Orban said on Thursday.

Hungary is open to compromise with the European Commission to unblock its access to 7.2 billion euros ($7.57 billion) of EU recovery fund grants, a senior aide to Prime Minister Viktor Orban said on Thursday.

EU countries have reached agreement on their sixth package of sanctions against Russia over its invasion of Ukraine, including a complete import ban on all Russian seaborne crude oil and petroleum products in six to eight months.

European Union leaders will meet on Monday to declare continued support for Ukraine to help it fend off Russia's assault, but the talks will be overshadowed by their failure to agree on a new sanctions package against Moscow.

The European Commission proposed on Wednesday to make breaking European Union sanctions against Russia a crime, a move that would allow EU governments to confiscate assets of companies and individuals that evade EU restrictions against Moscow.

Lithuanian Finance Minister Gintare Skaiste urged the European Union on Monday to set up a fund that would help countries welcoming thousands of Ukrainian refugees manage the financial burden, just like the EU did for Turkey in 2016.

Lithuania, Slovakia, Latvia and Estonia will call on Tuesday for the confiscation of Russian assets frozen by the European Union to fund the rebuilding of Ukraine after Russia's invasion, a joint letter written by the four showed on Monday.

Lithuania, Slovakia, Latvia and Estonia will call on Tuesday for the confiscation of Russian assets frozen by the European Union to fund the rebuilding of Ukraine after Russia's invasion, a joint letter written by the four showed on Monday.

The European Commission said on Thursday it would work with EU governments to help Ukraine export millions of tonnes of grain stuck in the country because the Russian navy is blocking Ukrainian ports.

European Union citizens would like the 27-nation bloc to become fairer, show greater solidarity, lead the fight against climate change and make swifter decisions, even if it means scrapping the need for unanimity on some issues, an EU report showed.

The European Union should, like national governments, have a proper budget it could use to stabilise the bloc's economy if needed, a European Commission survey of academics, think-tanks and other bodies and individuals has suggested.

The European Union will discuss in a few weeks whether it needs to jointly borrow more money in response to the challenges created by Russia's invasion of Ukraine, European Economic Commissioner Paolo Gentiloni said on Tuesday.

EU finance ministers agreed on Tuesday to subsidise household fuel prices and offer support to companies hit by surging energy prices as a result of Russia's invasion of Ukraine, French Finance Minister Bruno le Maire said.

Euro zone finance ministers are likely to endorse on Monday the European Commission's view that fiscal policy should move from supportive to neutral next year, but agree they must be ready with more cash should the war in Ukraine make it necessary.

Euro zone finance ministers agreed on Monday to tighten fiscal policy a little next year after three years of pumping billions into the economy due to the coronavirus pandemic, but also to be ready with more cash should the war in Ukraine make it necessary.

European Union leaders pledged on Friday to cut their dependence on global suppliers of food, microprocessors, drugs, raw materials and digital technologies, as Russia's invasion of Ukraine added a new argument for the EU to be more self-reliant.

European Union leaders will prepare the ground on Friday for possible unexpected spending over the war in Ukraine, but will stop short of mentioning any new joint EU debt issuance, draft summit conclusions showed.

European Union leaders will wrestle on Thursday with how to reduce their reliance on Russian energy and bolster political and moral support for Ukraine in the face of Moscow's invasion, but will rebuff Kyiv's appeal for rapid accession to the bloc.

The European Commission proposed on Tuesday European Union-wide rules to fight violence against women, to protect and support victims and to prevent such violence in the first place.

European Union leaders will agree at a summit this week to phase out the EU's dependency on imports of Russian gas, oil and coal, a draft statement showed, marking a turning point in its policy towards Moscow prompted by Russia's invasion of Ukraine.

European Union leaders may discuss the possibility of Ukrainian membership at an informal summit in March, a senior EU official said on Monday, adding the issue was important for Ukraine in discussions with Russia on ending the conflict.

The European Union will be ready to launch a second package of sanctions against Russia, including export controls, if Russian troops move beyond the Ukrainian regions held by Russian-backed separatists, European Commission Executive Vice President Valdis Dombrovskis told Reuters on Wednesday.

Emerging markets must brace for monetary tightening in the United States and Europe while central banks must be clearer in their policy communication to avoid confusion, financial leaders of the world's 20 biggest economies are likely to warn this week.