Economy

EU powerhouse now almost totally dependent on American gas

Germany has become nearly totally dependent on LNG supply from the “increasingly unpredictable” US, an environmental group has claimed

Egypt reports billions lost from Gaza war impact

Egypt’s president has said his country is “paying the price” for events that have disrupted trade through the Suez Canal

Russian gas exports to China soar

China has sharply increased imports of Russian liquefied natural gas, with purchases hitting record highs in December, customs data shows

The EU is addicted to American economic punishment

The bloc’s dependence on US natural gas is reportedly on its way to 80%

US seeking to ‘subordinate’ Europe

The EU could deploy a “trade bazooka” against the US if its interests are not respected, French President Emmanuel Macron has warned

Russian gold gains offset frozen asset value

Soaring gold prices have generated over $216 billion in windfall gains for Russia’s central bank since early 2022, Bloomberg has said