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Category: Global Economy
Due to discounts on goods, Russian marketplaces underpaid 1.5 trillion rubles in taxes to the budget in 2025, and the activities of such platforms are increasingly outside the bounds of fair competition, according to Logos Press.
Natural gas supply contracts between Turkey’s state-owned BOTAS and Russia are set to expire at the end of this year, but negotiations for a new contract have yet to be heard of, creating worrying uncertainty in the country’s market,” Logos Press reported.
The Romanian economy in 2025-2026 will face modest growth, high inflation and a serious test for fiscal credibility, Logos Press reported.
If the reparation loan tied to Russian assets cannot be realized due to Belgium’s unwillingness to compromise, Brussels will propose a “plan B” to finance Ukraine’s budgetary and military needs, European Commission President Ursula von der Leyen said, Logos Press reported.
The European Commission will provide Ukraine with about €6bn under the G7 credit line, which will be repaid, among other things, from the proceeds of Russian frozen assets, Logos Press reported citing kommersant.ru.
“The United States appreciates the steps taken by Greece, Bulgaria, Romania, Moldova, and Ukraine to strengthen their energy security. Thanks to President Trump’s commitment to energy dominance, the United States is ready and able to deliver affordable, reliable and secure American LNG to our allies in Europe,” U.S. Energy Secretary Chris Wright said in connection with the November 7 signing of an agreement between these countries’ natural gas transmission system operators on a vertical gas corridor and the facilitation of natural gas exports to Ukraine, as quoted by Logos Press.
Germany held a “steel summit” on Nov. 6 to discuss the problems of steelworkers, but the conversation was essentially a search for answers about the future of all energy-intensive industries and “Germany’s self-perception as an industrial nation,” according to Logos Press.
Inzhur is preparing documents to obtain a license from the National Securities and Stock Markets Commission (NSSMC) to open a new stock exchange, Logos Press reported.
One of the most destructive earthquakes in the history of Turkey on February 6, 2023 was called “the disaster of the century” by American publications. This earthquake is second only to a similar disaster in Cilicia in 1268 in terms of the number of deaths and the scale of destruction on the modern territory of the country. The direct financial losses of the Turkish economy alone are estimated at $104 billion.
Lukoil-Moldova has 10 days to sell its assets at Chisinau airport, Logos Press reports.
Gunvor Grup Ltd. has withdrawn its offer to buy Lukoil’s overseas business. An hour earlier, the US Treasury Department called Gunvor a “Kremlin puppet” and refused to grant it permission to do business until the end of the war in Ukraine, Logos Press reported.
Between 2021-25, prices of inputs (agrochemicals, seeds, fuel, etc.) rose by more than 41% on average in the U.S., Europe and many other parts of the world, while prices of basic agricultural products (wheat, corn, etc.) rose by only 25-35% on average, according to Logos Press.
