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Category: Global Economy
With the liberalization of the market on July 1, Romania’s electricity prices have risen significantly, leading to inflation, reduced purchasing power, relocation of industries and increased social vulnerability, Logos Press reported.
Romania ranks 17th in the world in total wine consumption, Logos Press reported.
Bitcoin has fallen 8% in the past 24 hours, with traders losing about $1 billion on long investment positions in an hour of the crypto market’s sharp decline, Logos Press reported.
The sanctions imposed by the United States against two major oil exporters, Rosneft and LUKOIL, have led to a sharp drop in oil prices for Russia’s benchmark Urals oil to $40 per barrel and below, Logos Press reports.
U.S. oil company Exxon Mobil said it is considering options to acquire some of the international assets of Russian oil giant Lukoil, which has been hit by U.S. sanctions, Logos Press reported.
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.
