WASHINGTON/KHERSON, Ukraine—The presidents of the United States and France said they would hold Russia to account for its actions in Ukraine and the European Union reached tentative agreement on an oil price cap to squeeze Moscow’s export earnings. Western powers are trying to rally support for Ukraine, which is reeling from missile and drone attacks…
Biden Admits ‘Glitches’ in Inflation Reduction Act After Meeting With French President Macron
Responding to pointed criticism from French President Emmanuel Macron about the Inflation Reduction Act, President Joe Biden admitted that the $740 billion tax-and-climate law contains “glitches” but defended the legislation after the two leaders met in the Oval Office on Dec. 1. “The United States makes no apology, and I make no apologies, since I…
EC Backtracks After Putting Ukraine’s War Dead at ‘More than 100,000’
December 1, 2022
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The European Commission (EC) appears to have backtracked on claims that the Ukrainian military has sustained upward of 100,000 dead since the conflict with Russia began more than nine months ago. The 27-member commission is the executive body of the European Union, a staunch supporter of the Ukrainian war effort. In a statement issued on…
Russia Warns US That Its Deeper Involvement in Ukraine Brings Growing Risks
Russia is trying to make the United States understand that Washington’s increasing involvement in the Ukraine conflict carries growing risks, Russian Deputy Foreign Minister Sergei Ryabkov said on Tuesday, according to Russian news agencies. Moscow has repeatedly complained that Western military support for Ukraine is dragging out the conflict, now in its 10th month, while…
Canada Finishes Issuing $500M in Government-Backed Bonds for Ukraine
Prime Minister Justin Trudeau says $500 million in five-year bonds issued by Canada to support the Ukrainian government have been fully subscribed. Trudeau announced the results of the bond drive during an event this morning, adding its success represents another demonstration of Canada’s strong support for Ukraine. Money raised from the bonds is expected to…
Russia Claims Major Gains as Fighting in Donetsk Continues to Rage
Russian forces have made significant territorial gains in and around the strategic town of Bakhmut in the eastern Donetsk region, pro-Moscow sources have claimed. Located roughly 55 miles north of Donetsk city, Bakhmut (Artyomovsk in Russian) and its surroundings have remained the scene of fierce fighting for the past several months. Russian forces deployed in…
Biden Admin Pledges $53 Million to Help Restore Ukraine’s Damaged Power Grid
The Biden administration on Tuesday vowed to provide Ukraine with $53 million to help the war-torn nation acquire critical electric grid equipment amid repeated missile attacks from Russian forces. Secretary of State Antony Blinken announced the funding during a meeting with NATO allies and Group of Seven members on Tuesday. “This equipment will be rapidly delivered to Ukraine on…
NATO Vows More Help for Ukraine as Russia Attacks on Multiple Fronts
KYIV—NATO allies promised more arms for Ukraine and equipment to help restore power supplies cut by Russian strikes, as President Volodymyr Zelenskyy said his forces were defending against attempted Russian advances in multiple regions. Ukraine’s General Staff said on Wednesday its forces had repelled six Russian attacks in the past 24 hours in the eastern…
Norway to Boost Security of Vulnerable Undersea Cables After Nord Stream Sabotage
Norway has announced it’s going to bolster security around vulnerable undersea fiber optic cables that are critical to the country’s oil and gas production after the recent explosions of the Nord Stream pipelines were found to be an act of sabotage. Norway’s communications regulator Nkom said on Nov. 29 that it will allocate an additional $4.4…
Volkswagen Says EV Battery Plants ‘Practically Unviable’ in EU Due to Soaring Energy Costs
November 29, 2022
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Business & MarketsCompanieseconomic policieseconomyenergyenergy crisisEnvironmentEuropeGermanyinflationInvestmentMarketsRussia-Ukraine WarScienceVolkswagenWorld
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Volkswagen’s CEO wrote that electric vehicle battery plants in the European Union are “practically unviable” at this moment due to soaring energy costs. Further investment in key industrial projects such as battery cell plants in Germany and the EU are becoming more unfeasible due to policymakers inability to control skyrocketing long-term energy prices, according to…
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