EU agrees to delist Russian orthodox leader from sanctions list after Hungarian pressure

bne IntelliNews June 3, 2022

The EU’s sixth sanction package against Russia can finally come into force, a month after it was first proposed.

Uzbekistan sees bread prices skyrocket

Joanna Lillis for Eurasianet June 2, 2022

Tashkent is seeking to boost domestic flour production at a delicate time, with the war in Ukraine garbling food supply chains.

National Bank of Ukraine raises discount rates to a whopping 25%

Dominic Culverwell in Berlin June 2, 2022

The National Bank of Ukraine raised the discount rate by a massive 15%, from 10% to 25%, Epravda reported on June 2.

Austria and Switzerland combined: Viral maps show true size of Russia's occupation of Ukraine

Social media correspondent Dominic Culverwell June 2, 2022

Several maps showing the true size of Russia’s occupation in Ukraine have gone viral, with many Europeans left shocked when comparing the total area with their own country.

Orban wants Russian Patriach removed from EU's sanctions list

bne IntelliNews June 2, 2022

Hungary has continued to block approval of the sixth package of sanctions against Russia, this time over the inclusion of the head of the Russian Orthodox Church, Patriarch Kirill.

Russia edges closer to bond default

bne IntelliNews June 2, 2022

Missed $1.9mn interest payment triggers first default event on Russian sovereign debt for a century.

European Commission says Romania meets none of the euro adoption criteria

Iulian Ernst in Bucharest June 2, 2022

Romania has repeatedly pushed back its euro adoption timetable, and doesn’t plan to join the single currency area sooner than 2029.

Brussels to release recovery fund cash for Poland despite doubts over rule of law reform

Wojciech Kosc in Warsaw June 2, 2022

Poland has reformed disciplinary regime for judges to meet EU concerns over their impact on the rule of law, but still has to reappoint sacked judges and prove new system will not be politicised.

Croatia set to become the eurozone's 20th member in January 2023

Denitsa Koseva in Sofia June 1, 2022

Croatia has met all conditions to adopt the euro, say new reports from the European Commission and the European Central Bank.

Turkey halts talks with Greece as Erdogan cranks up hard power foreign policy

bne IntelIiNews June 1, 2022

Election clock is ticking on Turkish leader’s bid to win round Turks shocked by extent of economic crisis.

INTERVIEW: Ukraine calls for a total ban on all Russians travelling overseas

Jason Corcoran in Dublin June 1, 2022

Oleksii Makeiev, Ukraine’s Ambassador and Special Envoy for Sanctions, has called for a total ban on all Russian passport holders from travelling overseas in a potential major escalation of punitive measures imposed since the invasion in February.

Croatia’s Rimac Group raises €500mn in series D investment round

bne IntelliNews June 1, 2022

Croatian electric hypercar producer valued at over €2bn after funding round led by SoftBank Vision Fund 2 and Goldman Sachs Asset Management.

Belarus drastically eases entry restrictions for foreigners

bne IntelliNews June 1, 2022

Belarus drastically eases entry restrictions for foreigners in an attempt to bolster tourism revenues. Apart from more people from neighbouring countries coming to visit friends and family, the Belarus' international isolation continues to increase.

Bulgaria’s deputy PM under pressure to resign over chaotic Ukraine refugee relocations

Denitsa Koseva in Sofia June 1, 2022

Government sends buses to seaside towns to remove 90,000 refugees from hotels ahead of tourist season, but few take up offer to move to new, undisclosed locations.

New CEO of PPF calls off takeover of Moneta Money Bank

bne IntelliNews June 1, 2022

The takeover would have created a group with a total of around 2.5 million customers in a country of 10.7 million people, putting it in third place in terms of customers.

Slovenia’s new government to realign foreign policy with core EU countries

Valentina Dimitrievska in Skopje May 31, 2022

After outgoing PM Janez Jansa's spats with Brussels, new centre-left government plans to shift away from Visegrad Group and strengthen relations with the "Germany-France-Italy axis".

‘Coma option’ back on agenda as efforts to break nuclear deal talks deadlock go nowhere

bne IntelIiNews May 31, 2022

Analysts suggest Iran, US might agree to interim arrangement that would see Tehran curb atomic programme and Washington drop oil and banking sanctions.

RenCap may face closure amidst an eleventh-hour MBO bid

Jason Corcoran in Dublin May 31, 2022

Renaissance Capital, the Moscow-based investment bank controlled by billionaire oligarch Mikhail Prokhorov, may face closure unless an eleventh-hour deal can be struck by managers to buy out the business, bne IntelliNews can reveal.

Hungary receives exemption from EU oil embargo

bne IntelliNews May 31, 2022

EU leaders have reached a compromise deal to ban Russian oil exports to the block's countries, putting maximum pressure on Russia to end its war against Ukraine, Charles Michel, President of the European Council, announced in the early hours of May 3

New ‘pattern of oppression in Turkey sees municipalities, AKP banning music concerts’

bne IntelIiNews May 30, 2022

Columnist says authoritarian move is response to “dead-end the current administration finds itself in” because of the country’s “unprecedented, multilayered crisis”.