Normal view
EU’s Arctic oil-and-gas pledge leaves a Norway-sized loophole
Earlier this week, EU officials said in unusually staunch terms that they would not buy Arctic oil and gas.
Even if someone (Norway) decided to drill new oil or gas wells in the Barents Sea, which is well above the Arctic Circle, the EU would not purchase it.
The goal is to dissuade investors. It costs many billions of euros to develop gas or oil at scale in the harsh conditions of the far north.
If there is no offtake market in continental Europe, no-one is going to take the risk.
The thing is, EU buyers already buy gas (and oil) from the Arctic. A lot of it.
Most of the gas, some 12 million tonnes so far this year, comes from Russia’s Yamal LNG plant, which sits on the shore of the biggest estuary you have never heard of, the Gulf of Ob (Obskaya Guba in Russian).
But that will end 10 weeks from now, when the EU ban on Russian LNG kicks in.
This article continues, but the full version is available only to EUobserver.com subscribers. Visit account.euobserver.com/membership
AI stocks weigh on markets Thursday as oil rises to highest price since May

AI stocks weigh on markets Thursday as oil rises to highest price since May

Pizza Fan owner, accountants arrested for tax evasion fraud scheme
Well-known pizza chain Pizza Fan was boasting that “everything was Greek.” Allegedly everything was Greek including the fraud scheme that cost the state 25 million euros in Value Added Tax. On Thursday, teams of the Greek Directorate for Combating Organized Crime raided the headquarters of Pizza Fan, an unknown number of its affiliates stores, houses […]
The post Pizza Fan owner, accountants arrested for tax evasion fraud scheme appeared first on Keep Talking Greece.
Canada opens free trade talks with Turkey
Canada, which is in the midst of a trade war with the United States, opened talks with Turkey Thursday on a free trade agreement during a landmark visit by Prime Minister Mark Carney.
Carney, a former central banker, has made reducing dependence on Washington and diversifying Canada's partnerships one of the cornerstones of his term, which began in March 2025.
"We decided to begin negotiations for a free trade agreement, which includes increasing trade and investment, before the end of the year," Turkish President Recep Tayyip Erdogan said in a joint address to reporters.
Carney is the first Canadian prime minister to pay an official visit to Turkey.
"We hope to increase our trade volume, which is currently around $3 billion, to $5 billion and then $10 billion. We will approximately double direct flights between our countries," Erdogan said.
Carney said Canadian negotiators would come to Ankara next month for the first round of free trade talks.
"Our goal is not self-sufficiency, it is collective resilience," said Carney.
"And that's why Canada is building deeper partnerships with reliable partners that create new opportunities for us both. And in Turkey, we have an exceptional partner."
Carney is due to meet on Friday with Turkish business leaders in Istanbul, in strategic sectors such as energy, aerospace and critical minerals.
Canada and Turkey have also identified potential for cooperation in nuclear energy.
They also announced a partnership agreement in the defence industry.
"Today's new Agreement on Defence Industry Partnership will connect Canadian and Turkish companies to work together, creating good jobs at home, export opportunities abroad, greater security for our citizens, and contributing to a stronger NATO alliance," Carney said.
Carney has multiplied overseas trips, renewing ties with nations such as Saudi Arabia, India and China with which relations had been strained or even broken under his predecessor Justin Trudeau.
Carney has also drawn closer to Europe.
- Strategic Culture Foundation
- Caro vita e rincari, i costi reali delle guerre sulle famiglie italiane
Caro vita e rincari, i costi reali delle guerre sulle famiglie italiane
In questi giorni il caro vita turba i sonni del mondo politico e sindacale, compresi quanti finora hanno ignorato i diffusi rincari dell’energia e dei beni di prima necessità, riducendo l’emergenza a mera polemica politica.
In questi giorni il caro vita turba i sonni del mondo politico e sindacale, compresi quanti finora hanno ignorato i diffusi rincari dell’energia e dei beni di prima necessità, riducendo l’emergenza a mera polemica politica.
Tuttavia, anche le poche mobilitazioni in corso dimenticano che la causa primaria dell’inflazione è proprio l’economia di guerra: l’escalation militare ha fatto ripartire la corsa dei prezzi, con conseguenze particolarmente pesanti per le economie europee, dipendenti dal greggio in transito nel Golfo Persico.
Un tempo le forniture principali arrivavano dalla Russia a costi decisamente inferiori a quelli attuali. Affermare che l’economia di guerra sia la causa principale dell’inflazione e del rallentamento economico europeo significa semplicemente prendere atto della realtà.
I dati parlano chiaro: tra marzo e agosto la UE ha sostenuto 54 miliardi di dollari di costi aggiuntivi netti solo per le importazioni di gas e petrolio. Questo dato basterebbe da solo ad aprire un dibattito serio sulle conseguenze economiche dei conflitti.
A confermare il quadro è l’Ufficio Studi della CGIA di Mestre: a fine anno gli italiani pagheranno 29 miliardi di euro in più tra rincari di elettricità, gas e carburanti. Solo in Italia il costo dell’energia elettrica è balzato del 51,2%. Rincari dovuti all’instabilità delle catene di approvvigionamento, alle speculazioni finanziarie e all’aumento delle spese militari, che sottraggono risorse essenziali al welfare.
Di fronte a questo scenario, la risposta del Governo appare timida e priva di coraggio. Mentre sostiene le spese per il riarmo, prova a calmierare con fondi pubblici le bollette degli italiani (che stimano una spesa aggiuntiva media di 153 euro all’anno per l’elettricità e 477 euro per il gas). Parallelamente, i rincari a doppia cifra colpiscono anche i beni alimentari di largo consumo: la dimostrazione che non si tratta di un incidente di percorso, ma di un effetto strutturale dell’economia di guerra.
In questo contesto, le manifestazioni di piazza rischiano di rivelarsi inefficaci, sia per la scarsa adesione sia per la debolezza delle motivazioni. Manca una riflessione complessiva sul sistema economico e sui meccanismi che spingono verso il basso i salari (a partire dai criteri di calcolo dell’IPCA). I bonus non sono la soluzione, bensì il sintomo del progressivo smantellamento del welfare pubblico.
È urgente iniziare a parlare apertamente di “economia di guerra”: un modello di produzione che alimenta la corsa alle risorse, dirotta i fondi pubblici verso la difesa e giustifica la sottrazione di risorse ai servizi essenziali. In caso contrario, continueremo a inseguire singoli provvedimenti tampone senza mai affrontare la vera radice del problema.
Articolo originale: lantidiplomatico.it
‘Everyone here is very optimistic’ – Germans are increasingly emigrating to Poland
Nearly 5,000 Germans emigrated to Poland in 2025, outpacing the numbers who left for Britain, Italy or the Netherlands, according to new government data.
Figures from Germany’s Federal Statistical Office (Destatis) showed 4,941 people moved from Germany to Poland last year, the highest total since the coronavirus pandemic. At the same time, only 1,720 moved in the opposite direction. The resulting negative migration balance for Germany was highlighted by financial daily Handelsblatt reporter Christian Wermke, who asked: “Why are more and more Germans moving across the Oder? What exactly works better in the Polish economy than in Germany? And what could we learn from our eastern neighbor so as not to permanently lose skilled workers?”
— Remix News & Views (@RMXnews) September 22, 2025
Poland features 5 amazing swimming pools just outside Kraków, in Zakrzówek. German Youtuber @freiformation appears to prefer Poland to Germany when it comes to swimming. "No groping, no harassment, just families, children, girls, women, men, all peaceful." https://t.co/r3cGmXnsMT
Kevin Wörner, a 33-year-old who relocated from Berlin to Warsaw, and whose mother is Polish, told the newspaper there is “an incredible sense of a new beginning here. Everyone here is very optimistic.”
He contrasted that atmosphere with conversations among friends in Germany, where “it just gets you down.” Wörner cited lower taxes, less bureaucracy, stronger digitalization, and a more business-friendly environment as practical advantages, saying he had the impression “everything is a bit simpler here and more conducive to entrepreneurship.”
The trend also comes at a time when more and more Western European visiting Poland have made remarks about how safe the country is, how there is a lack of migrants, and how much better of a lifestyle the country offers.
— Remix News & Views (@RMXnews) July 9, 2026
A young French-speaking woman traveling in Poland describes how shocked she is to finally not be catcalled and harassed. "It’s when you come to countries like Poland that you realize there are really problems with our countries, like Belgium or France." "Whether it’s Brussels, Liège, or slightly bigger cities like that, I would always get catcalled, honked at, harassed… really, everything you can think of." "And now I’m in Krakow, Poland, and it’s been two days that I’ve been walking around in this outfit, and I get absolutely no comments, no stares – like, only respect." Follow: @RMXnews
Jens Althoff, head of the Warsaw office of the Heinrich Böll Foundation, noted that many Germans still hold a “rather distorted image of Poland.” He pointed to ongoing infrastructure investment, high levels of digitalization, punctual trains, and well-maintained stations as visible differences.
Althoff also observed that younger Poles often emphasize achievement and implementation over the work-life balance discussions common in Germany.
— Remix News & Views (@RMXnews) February 5, 2026
After returning from Poland, French journalist @YOANNUSAI said: "It’s true that after coming back from certain countries to France, you can say to yourself: ‘My God, what have they done to our country?’" "And it’s true that Poland is still Poland, while France is no longer France. The reality is this. The Poland of 40 years ago is the same as the Poland of today. France today is nothing like the France of 40 years ago. And immigration, of course, is partly responsible for this." Many Western Europeans have the same reaction after returning from Poland, which still has basically the same demographics as 40 years ago. Poland is also a vastly safer country for women on the streets. "Finally, in Poland, young girls go out freely, without fear. Obviously, in Poland, there are young girls who are dressed however they want to be dressed. They don’t censor themselves, which is no longer the case in France. I had to go out on a Saturday night in Paris, and a lot of young girls self-censor how they dress. This is not the case in Poland, as I have seen. You can walk freely around Warsaw at any time of day or night without worrying about your safety, which is not even the case for me in Paris, as a man, OK? I’m afraid for my own safety at certain hours in some neighborhoods of Paris."
Other interviewees mentioned Polish digital tools such as the BLIK mobile payment system and the mObywatel government app as examples of efficiency that stand out to newcomers. Handelsblatt’s reporting appeared amid broader German media coverage noting Poland’s economic growth and infrastructure improvements, even as some outlets have described ongoing operational difficulties on the German rail network.
The Destatis figures place Poland among the top destinations for German emigrants in 2025, behind Switzerland, Austria and Spain but ahead of several Western European countries. The newspaper framed the trend as a potential signal for German policymakers concerned about retaining skilled workers, while noting that overall German emigration remains highest to neighboring German-speaking countries, such as Austria.
This development also comes amid an already ongoing trend of Poles living in Germany moving back to Poland.
The post ‘Everyone here is very optimistic’ – Germans are increasingly emigrating to Poland appeared first on Remix News.
Paradigm shift. NC county sues Florida company to get land back.

Florida-based Paradigm promised jobs from a battery plant in storm-battered Burnsville. With no progress, Yancey Co. wants acreage returned.
Paradigm shift. NC county sues Florida company to get land back. is a story from Carolina Public Press, an award-winning independent newsroom. Our breakthrough journalism shines a light on the critical overlooked and under-reported issues facing North Carolina’s more than 11 million residents. Please consider making a contribution to support our journalism.
- Strategic Culture Foundation
- Les données commerciales permettent de comprendre pourquoi l’Ukraine a besoin de capitaux occidentaux et comment la Russie peut payer son effort de guerre
Les données commerciales permettent de comprendre pourquoi l’Ukraine a besoin de capitaux occidentaux et comment la Russie peut payer son effort de guerre
Cela fait un certain temps que je voulais écrire un article sur les destins de la Russie et de l’Ukraine depuis le début du conflit en 2014. Le fil conducteur est que l’Ukraine a drastiquement réduit ses échanges commerciaux avec la Russie, depuis 2014, sans jamais les compenser par une augmentation des échanges commerciaux avec l’Europe. Cela a eu comme conséquence involontaire que l’Europe a dû injecter des sommes importantes en Ukraine juste pour empêcher sa monnaie de s’effondrer alors que la guerre se poursuivait. Pendant ce temps, la Russie a diversifié ses échanges commerciaux avec les pays non-européens, de sorte que sa balance extérieure est aussi solide aujourd’hui qu’elle l’était en 2014, ce qui lui procure les liquidités dont elle a besoin pour soutenir l’effort de guerre.
Ian Proud
Points importants :
- L’Ukraine a exporté 24% de moins et importé 46% de plus en 2025 qu’en 2014. La guerre a fait grimper les importations alors que les exportations ne se sont jamais remises de la signature de l’ALECA et ont été entravées par l’effort de guerre.
- Le déficit commercial béant que l’Ukraine a creusé depuis le début de la guerre a exercé une pression accrue sur les sponsors européens pour qu’ils fournissent le capital dont l’Ukraine a besoin pour empêcher l’effondrement de sa monnaie, en plus de fournir des fonds pour répondre à ses besoins budgétaires.
- Ce défi de financement pour l’Europe persistera après la fin de la guerre, tant que l’Ukraine ne sera pas autosuffisante en stimulant ses exportations et/ou en attirant suffisamment d’investissements étrangers pour compenser ses déficits commerciaux.
- La force des exportations russes et ses excédents commerciaux constants n’ont pas été affectés par la guerre. Après le début de la crise ukrainienne, la Russie a commencé à diversifier ses principales exportations d’énergie hors d’Europe, ce qui lui a permis de résister à la réduction progressive de ses exportations vers l’Europe. En effet, la Russie a tiré une énorme manne, en 2022, de la flambée des prix de l’énergie. Il n’y a aucune preuve que les sanctions aient eu un impact significatif sur le modèle d’exportation russe.
- La Russie avait déjà commencé à réaccumuler des réserves de change après l’effondrement des prix du pétrole fin 2014, jusqu’avant le début de la guerre. Suite à l’immobilisation des 300 milliards de dollars de réserves russes en Europe, la Russie a commencé à accumuler des réserves en or, pour sanctionner les bénéfices futurs. La Russie dispose désormais de réserves liquides de plus de 420 milliards de dollars, ce qui signifie que l’immobilisation de ses réserves de devises étrangères n’est plus un facteur limitant sur le plan économique.
Analyse détaillée
Le modèle d’exportation de la Russie, dans lequel elle enregistre constamment d’importants excédents commerciaux, lui a permis de générer les réserves de devises étrangères et d’or qui ont sans aucun doute contribué à financer la guerre en Ukraine. Le déficit commercial de l’Ukraine s’est creusé depuis le début de la guerre, nécessitant des injections continues de capitaux européens pour empêcher l’effondrement de sa monnaie.
Cela aide à expliquer que la Russie puisse soutenir la guerre plus longtemps ; elle n’a pas besoin de contracter de nouvelles dettes importantes, sa dette restant faible, à 20%. L’Ukraine ne peut financer la guerre et maintenir ses comptes nationaux en équilibre qu’avec de l’argent européen qui ne peut être garanti à long terme et qui, de toute façon, a augmenté la dette ukrainienne de 20% du PIB en moyenne chaque année depuis le début de la guerre. Ce n’est pas durable.
L’Accord de libre-échange approfondi et complet de 2014 a désavantagé l’Ukraine car il forçait le pays à ne plus commercer avec la Russie.
Le point de départ est la signature par l’Ukraine d’un Accord de libre-échange approfondi et complet avec l’Europe, le 27 juin 2014.
Herman van Rompuy, alors président du Conseil européen, déclarait alors que « des liens politiques et économiques plus forts apporteront plus de stabilité et de prospérité à l’ensemble du continent européen ».
Au même moment, le président Porochenko déclarait « au cours des derniers mois, l’Ukraine a payé le prix le plus élevé possible pour réaliser son rêve européen ».
Car le véritable cout de cet accord a été supporté par l’Ukraine qui a vu ses exportations s’effondrer et ses importations augmenter, car elle avait fait le « choix souverain » de ne plus maintenir ses liens commerciaux avec la Russie.
Ce fut un choix catastrophiquement mauvais. La Russie représentait environ 25% des exportations ukrainiennes avant 2014 et ce chiffre était tombé à moins de 5% en 2021, avant le début de la guerre. L’Ukraine n’a pas comblé cet écart en augmentant le volume de ses exportations vers l’Europe, qui sont restées en grande partie inchangées.
De plus, le même schéma peut être observé en Géorgie, qui n’a également connu aucune augmentation réelle de ses exportations vers l’UE après la signature de l’ALECA. L’UE utilise un certain nombre de mécanismes de règlement des différends commerciaux et d’autres barrières non tarifaires pour bloquer la croissance des importations en provenance des pays partenaires de l’ALECA.
Ainsi, en encourageant l’Ukraine à commercer avec l’Europe et non avec la Russie, l’Europe a imposé une perte économique sèche à l’Ukraine qui avait pris la décision souveraine de renoncer à une relation commerciale auparavant rentable, pour poursuivre un objectif politique d’intégration à l’UE.
De plus, depuis le début de la guerre, les importations ukrainiennes ont augmenté, entraînant une augmentation progressive de son déficit commercial. Cette augmentation des importations a été causée par le fait que l’Ukraine achète des armes aux États-Unis en utilisant des fonds européens et nationaux empruntés. Ainsi, l’Ukraine emprunte de l’argent pour créer un déficit commercial qui doit être comblé par de nouveaux afflux de capitaux.
Entraînée dans un déficit commercial persistant et croissant par la guerre, l’Ukraine a besoin d’injections continues de fonds étrangers pour empêcher l’effondrement de sa monnaie.
Le graphique ci-dessous montre la croissance du déficit commercial de l’Ukraine avec la croissance correspondante des recettes classées comme « Revenu secondaire » dans sa balance des paiements trimestrielle. Ces entrées de capitaux classés comme « Revenus secondaires » sont des injections en provenance d’Europe (principalement) qui sont vitales pour renforcer les réserves de change de l’Ukraine et ainsi éviter une ruée sur la devise. Le point clé est que le financement étranger à l’Ukraine est plus qu’un simple événement fiscal. Il s’agit d’un mécanisme de soutien essentiel dans les circonstances où l’Ukraine est incapable d’attirer suffisamment d’investissements étrangers en temps de guerre.
La Russie n’a tout simplement pas été confrontée au même défi, choisissant plutôt de diversifier ses exportations vers d’autres pays alors que l’Europe fermait progressivement ses échanges commerciaux. Les sanctions n’ont pas entamé son commerce.
Le graphique ci-dessous illustre de manière élégante comment le commerce de la Russie a changé et évolué depuis. Les exportations russes ont connu des pics et des creux depuis 2014, bien que les creux aient souvent été causés par des événements mondiaux tels que les effondrements des prix du pétrole de 2014 et 2016 et le COVID.
Le déclenchement de la guerre en Ukraine a provoqué une énorme manne de revenus d’exportation car le prix du pétrole a bondi. Malgré l’imposition de milliers de sanctions par les pays occidentaux après le début de la guerre, les exportations russes sont restées très résistantes. Cela est dû à la diversification par la Russie de ses exportations vers les pays d’Asie.
En bref, malgré les nombreux gros titres dans les médias occidentaux traditionnels sur les sanctions « entravant l’économie de guerre de la Russie« , il n’y a aucune preuve substantielle que cela ait été le cas.
Le modèle d’exportation russe continue d’être une salle des machines qui lui fournit les liquidités dont elle a besoin pour financer la guerre sans contracter de nouvelles dettes importantes. Cela lui donne un avantage significatif sur l’Ukraine et ses soutiens européens dans cette « guerre d’usure« .
La Russie a accumulé des réserves depuis le début de la guerre pour compenser l’immobilisation de 300 milliards de dollars en devises par les pays occidentaux. La Russie investit désormais dans l’or pour protéger ses actifs.
Enfin, je commente depuis un certain temps que la Russie a entamé le processus d’accumulation de réserves de change en 2017 alors qu’elle modifiait sa politique monétaire pour adopter un rouble faible afin de maximiser les revenus en roubles tirés des exportations et qu’elle entreprenait un certain nombre d’achats en dollars via le ministère des Finances. Vous pouvez voir cette accumulation de réserves dans le graphique ci-dessous.
Après le début de la guerre, après l’importante manne de revenus tirés des exportations en 2022 et des chiffres commerciaux toujours solides par la suite, la Russie a continué à accumuler des réserves. Cependant, suite au gel de ses avoirs en devises, elle a plutôt choisi de stocker ses réserves en or, pour les protéger des sanctions.
Si la Russie souhaite évidemment récupérer ses avoirs immobilisés après la fin de la guerre (gros point d’interrogation), elle a néanmoins constitué un important coussin financier à hauteur de plus de 420 milliards de dollars de réserve en plus de celle qui reste gelée.
Ces importantes réserves contribuent sans aucun doute à garantir l’effort de guerre russe sans avoir besoin de gros emprunts. La dette de la Russie représente aujourd’hui environ 20% de son PIB.
En 2021, la dette de l’Ukraine s’élevait à environ 49% de son PIB. Aujourd’hui, elle représente environ 110% de son PIB.
Publié à l’origine par The Peacemonger.
Traduction: Le Saker Francophone
- New Eastern Outlook
- Kicking the Ladder: How the Modern Monetary Order Unlearned Its Own History. Part 2
Kicking the Ladder: How the Modern Monetary Order Unlearned Its Own History. Part 2
- QuiFinanza
- Cresce sempre di più il cine-turismo, in Italia vale 600 milioni: quali le mete preferite dai turisti
Cresce sempre di più il cine-turismo, in Italia vale 600 milioni: quali le mete preferite dai turisti
Sono sempre di più i viaggiatori che scelgono la propria destinazione lasciandosi ispirare dalle ambientazioni viste sul grande e piccolo schermo. Per questo motivo, negli ultimi anni, anche in Italia borghi, isole, città d’arte e paesaggi naturali sono diventati mete ambite soprattutto perché sono stati set di film e serie tv.
Si chiama cine-turismo (o screen tourism), ed è un fenomeno che anche nel nostro Paese sta acquisendo sempre più valore.
Quanto vale il cine-turismo in Italia
Secondo Jfc Tourism & Management, il cine-turismo in Italia genera un giro d’affari stimato in:
- circa 600 milioni di euro all’anno;
- 1,3 milioni di pernottamenti direttamente collegati alle produzioni audiovisive;
- oltre 11 milioni di visite giornaliere nei luoghi diventati riconoscibili grazie a film e serie televisive.
A livello internazionale, da come è emerso dal report annuale Unpack di Expedia Group, quasi un viaggiatore su cinque nel mondo ha prenotato un viaggio dopo aver visto una destinazione in un film o in una serie televisiva.
Una parte dei turisti organizza soggiorni di più giorni per esplorare le location, mentre altri inseriscono una singola tappa cinematografica in un itinerario già programmato. Entrambe le tipologie di visita possono generare ricavi, anche se con effetti differenti sulla durata della permanenza, sulla spesa media e sulla distribuzione dei benefici tra le attività locali.
Quali sono le mete più popolari
Tra le destinazioni italiane che hanno conquistato visibilità internazionale grazie a film e serie televisive c’è sicuramente Favignana, in Sicilia. L’isola, anche grazie alla popolarità raggiunta con The Odyssey, di Christopher Nolan, ha visto le prenotazioni aumentare molto questa estate. Le prime stime, inoltre, individuano in questo interesse un potenziale economico anche nei prossimi anni.
Un’altra meta particolarmente nota è Taormina, sempre in Sicilia, che ha ottenuto nuova visibilità internazionale grazie alla serie The White Lotus. Il San Domenico Palace e gli scorci panoramici della città hanno contribuito in particolare a rafforzare l’immagine della destinazione presso un pubblico interessato a viaggi di lusso, gastronomia ed esperienze esclusive.
Restando ancora in Sicilia, meritano di essere menzionate anche Scicli e Punta Secca, nel Ragusano, dove il turismo è spinto da anni ormai dal successo de Il commissario Montalbano.
Tra le destinazioni che stanno beneficiando della visibilità televisiva c’è anche la Calabria, con località come Tropea e Isola di Capo Rizzuto coinvolte nelle riprese di Sandokan, mentre Matera è diventata una scenografia riconoscibile dopo aver ospitato produzioni internazionali come No Time to Die, il film della saga di James Bond.
Infine c’è Roma, che da Vacanze romane (con Audrey Hepburn e Gregory Peck) fino agli ultimi lavori internazionali (come To Rome with Love di Woody Allen), continua a esercitare un forte richiamo sugli appassionati che vogliono ritrovare le ambientazioni della pellicola.
In arrivo nuovi contributi pubblici per il cine-turismo
Per sfruttare meglio le opportunità offerte dal cine-turismo, il ministero del Turismo, in collaborazione con Enit, ha promosso il progetto “Che spettacolo l’Italia! What a movie Italia is!”.
L’iniziativa prevede contributi pubblici per realizzare filmati di qualità cinematografica della durata compresa tra cinque e dieci minuti, destinati a essere distribuiti insieme a film per le sale e a serie televisive. Il progetto prevede un finanziamento fino a 400mila euro per i produttori, che si aggiungono agli aiuti già esistenti, con l’obiettivo di trasformare i set cinematografici e televisivi in strumenti di promozione delle destinazioni italiane, attraverso la produzione di contenuti ad hoc.
MEPs back three-year methane delay, triple what the EU Commission wanted
The European Parliament on Thursday (22 October) backed a three-year delay to the EU’s methane rules for oil and gas importers, two years more than the European Commission proposed last week.
MEPs also voted to extend the delay to European oil and gas producers, which goes beyond the commission’s plans.
The text now forms parliament’s position for negotiations with member states, whose ambassadors failed to agree on Wednesday.
Under the amendments, tabled by the conservative European People’s Party (EPP), importers would only have to prove that their oil and gas meets EU monitoring standards from 2031, instead of 2027 under the current law.
Reporting on methane intensity would also be delayed from 2028 to 2031.
A separate amendment from a cross-party group of 36 Romanian and Bulgarian MEPs, which also passed, delays reporting obligations for EU operators by three years, to 2030.
MEPs also approved an amendment, tabled by Dutch Socialist MEP Mohammed Chahim, that the extra time should not apply to oil, gas and coal from countries under EU sanctions, which in practice means Russia.
A far-right Patriots for Europe proposal to suspend the regulation altogether was rejected, as was a push by the conservative ECR group to delay parts of the rules even longer.
This article continues, but the full version is available only to EUobserver.com subscribers. Visit account.euobserver.com/membership
- Strategic Culture Foundation
- Why trade is vital to understanding how Ukraine needs western capital to stay afloat and how Russia can pay for its war effort without new debt
Why trade is vital to understanding how Ukraine needs western capital to stay afloat and how Russia can pay for its war effort without new debt
Four graphs that tell a bigger story
By Ian PROUD
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I have wanted to write an article for sometime about the differing fates of Russia and Ukraine since the onset of the conflict in 2014. The headline is that Ukraine has never made up the difference in increased trade with Europe having cut its trade with Russia to the bone since 2014. This has inadvertently meant that Europe has had to inject significant sums of capital into Ukraine just to prevent its currency from collapsing as the war has gone on. Russia has diversified its trade away from Europe such that its export model is as strong today as it was in 2014, giving it the liquidity it needs to underwrite the war effort.
Key finding:
- Ukraine exported 24% less and imported 46% more in 2025 than in 2014. The war has driven up imports while exports never recovered from the signing of the DCFTA and have been hampered by the war effort.
- The yawning trade deficit Ukraine has built since the war started has placed greater strain on European sponsors to provide the capital Ukraine needs to prevent its currency collapsing, in addition to providing funding to meet its fiscal requirements.
- This funding challenge for Europe will persist after the war ends until Ukraine can become self-sufficient in boosting exports and/or attracting sufficient foreign investment to offset its trade deficits.
- Russia’s export strength and consistent surpluses have been unaffected by war. After the Ukraine crisis started, Russia started to diversify its major energy exports away from Europe, allowing it to weather the progressive reduction of exports to Europe. Indeed, Russia gained a huge windfall in 2022 from surging energy prices. There is no evidence that sanctions have impacted Russia’s export model in a significant way.
- Russia has already started to reaccumulate FX reserves after the oil price collapse of late 2014, until before the war started. Following the immobilisation of $300bn in Russian FX reserves, Russia started to accumulate reserves in monetary gold, to sanction-proof future earnings. Russia now has liquid reserves of over $420bn meaning the immobilisation of its foreign currency reserves is no longer an economically limiting factor.
Detailed analysis
Russia’s export model in which it runs consistently large trade surpluses has ensured it can generate the reserves of foreign currency and gold which have undoubtedly helped to bankroll the war in Ukraine. Ukraine’s trade deficit has yawned since the war started, requiring continual injections of European capital to prevent its currency from collapsing.
This helps to explain by Russia can sustain the war for longer; it doesn’t need to take on significant new debt, its debt remaining low at 20%. Ukraine can only fund the war and keep its national accounts in balance with European money that cannot be guaranteed long-term and which, in any case, has increased Ukrainian debt by an average of 20% of GDP each year since the war started. This is not sustainable.
The Deep and Comprehensive Free Trade Agreement of 2014 has disadvantaged Ukraine because it forced a choice away from trading with Russia.
The starting point for this is the signature by Ukraine of a Deep and Comprehensive Free Trade Agreement with Europe on 27 June 2014.
Herman van Rompuy, then President of the European Council said that “stronger political and economic ties will bring greater stability and prosperity to the entire European continent.”
President Poroshenko said “over the last months, Ukraine paid the highest possible price to make her European dreams come true.”
Yet, the true price of this agreement has borne by Ukraine which saw its exports collapse and its imports increase, as it make a “sovereign choice” not to maintain trade links with Russia.
That was a catastrophically bad choice. Russia had accounted for around 25% of Ukrainian exports prior to 2014 and that figure fell to less than 5% in 2021 before the war started. Ukraine did not make up that gap by increasing the volume of exports to Europe, which have remained largely unchanged.
Indeed, this same pattern can be seen in Georgia which has also seen no real increase in exports to the EU after it signed the DCFTA. The EU uses a number of trade dispute mechanism and other non-tariff barriers to put blockages in the way of import growth from DCFTA partner countries.
So, by encouraging Ukraine to trade with Europe and not with Russia, Europe has imposed a deadweight economic loss on Ukraine which took a sovereign decision to forgo a previously profitable trade relationship, to pursue a political goal of EU integration.
Moreover, since the war started, imports into Ukraine have surged leading to a progressive ballooning of its trade deficit. This surge in imports has been caused by Ukraine purchasing weapons from the US using borrowed European and domestic funds. So, Ukraine is borrowing money to create a trade deficit that needs to be filled with further inflows of capital.

Dragged into a persistent and growth trade deficit by war, Ukraine needs continued injections of foreign funds to prevent its currency collapsing.
The graph below maps the growth in Ukraine’s trade deficit with the corresponding growth in receipts classified as Secondary Income within its quarterly balance of payments. These inflows of capital as Secondary Income are injections from Europe (principally) that are vital to shore up Ukraine’s FX reserves and so prevent a run on the currency. The key point is that foreign funding to Ukraine is more than just a fiscal event and top it. It is a vital support mechanism in circumstances where Ukraine is unable to attract sufficient inflows of foreign investment during a time of war.

Russia simply hasn’t faced the same challenge, choosing instead to diversify its exports to other countries as Europe progressively shut down trade. Sanctions haven’t dented trade.
The graph below illustrates in an elegant way how Russia’s trade has changed and evolved since. Russia’s exports have gone through peaks and troughs since 2014, although the troughs have often been caused by global events such as the 2014 and 2016 oil price collapses and COVID,
The onset of the war in Ukraine caused a huge windfall in income from exports as oil prices surged. Despite the imposition of thousands of sanctions by western nations after the war commenced, Russia’s exports have remained highly resilient. This is down to Russia’s diversification of its exports towards countries in Asia.
In short, despite many headlines in western mainstream media of sanctions ‘denting Russia’s war economy’ there is no substantive evidence that this has been the case.
Russia’s export model continues to be an engine room that provides the liquidity it needs to fund the war without taking on significant new debt. This gives it a significant advantage over Ukraine and its European backers in the ‘war of attrition’.

Russia has accumulated reserves since the war started to make up for the immobilisation of $300bn in FX by western nations. Russia now invests in monetary gold to sanction-proof its assets.
Finally, I have been commenting for some time that Russia started the process of accumulating Foreign Exchange Reserves in 2017 as it shifted its monetary policy to embrace a weak rouble to maximise rouble income from exports and as it undertook a number of dollar purchases via the Finance Ministry. You can see this reserve accumulation in the graph below.
After the war started, following the large windfall in earning from exports in 2022 and still solid trade figures after that, Russia continued to accumulate reserves. However, following the freezing of its foreign currency assets, it has chosen instead to store its reserves in monetary gold, to sanction proof them.
While Russia would undoubtedly like to see the return of its immobilised assets after the war ends (big question mark) it has nevertheless built up a significant financial buffer to the tune of over $420bn in reserve assets in addition to those assets that remain frozen.
This deep well of reserves undoubtedly helps to underwrite Russia’s war effort without the need for significant borrowing. Russia’s debt today sits at around 20% of GDP.
In 2021 Ukraine’s debt sat at around 49% of GDP. Today it sits at around 110% of GDP.
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Original article: thepeacemonger.substack.com
$415 SILVER, CHINA, BESSENT & GOLD — James Anderson
- SGT Report
- Chaos As Massive Google Outage Crashes Banking Apps, with NHS and Court Services Also Affected
Chaos As Massive Google Outage Crashes Banking Apps, with NHS and Court Services Also Affected
UK Public Debt Tops £3 Trillion for First Time
UK public debt crossed the £3 trillion mark for the first time at the end of September 2026, the National Statistics Office reported on Wednesday, October 21.
The accumulated public sector liabilities stood at £3.005 trillion, equivalent to €3.57 trillion, according to the provisional estimate released by the National Statistics Office. The figure represented 94 percent of UK gross domestic product and marked a historic high, the agency reported.
The balance grew by £91.7 billion compared with the level recorded twelve months earlier, about €109.074 billion, according to the provisional estimate.
RELATED: U.K. Slashes International Aid Budget by 56% to Fund Defense
Despite the nominal record, the weight of the liabilities on the economy as a whole fell by seven tenths compared with the 2025 level, the agency reported. The agency recalled that net debt exceeded £2 trillion in June 2020, during the COVID-19 pandemic, and had surpassed £1 trillion in February 2010, following the global financial crisis.
September public borrowing amounted to £24.5 billion, or €29.142 billion, and was the second highest recorded for that month, according to the National Statistics Office. Only the September 2020 figure, unadjusted for inflation, was higher. Compared with the previous year, the imbalance increased by £1.8 billion, or 7.7 percent, because spending growth outpaced income growth, the agency reported.
Britain’s national debt has climbed above £3tn for the first time, underlining the pressure on the public finances before John Healey’s maiden Budget next week
— The Telegraph (@Telegraph) October 21, 2026
🔗 https://t.co/xKIQKqOhib pic.twitter.com/ExKxQ7hI95
Central government debt interest reached £10.9 billion in September, the highest figure recorded in the ninth month of the year since monthly records began in 1997, according to the National Statistics Office.
Annual inflation stood at 3.5 percent in September, four tenths above the August figure and the largest increase since October 2025, according to the National Statistics Office. The price of goods rose 3.2 percent year on year, compared with 2.7 percent in August, while services became 3.7 percent more expensive. Core inflation, which excludes energy, food, alcohol and tobacco, advanced to 2.8 percent, two tenths more than in August.
- EUobserver
- Brussels is moving to ban street advertising by fossil-fuel firms – the EU officials who live there should take note
Brussels is moving to ban street advertising by fossil-fuel firms – the EU officials who live there should take note
Last week, Elsene became the fifth municipality to vote for an end to fossil-fuel advertising, joining Saint-Gilles, Jette, Schaerbeek and Molenbeek.
Four of those five votes came in the space of just four months, and together, these municipalities are home to roughly 370,000 people: one-third of the Brussels-Capital Region’s population.
All five are making the same demand: that the Brussels region bans fossil-fuel advertising across the entire city, from metro stations to regional roads. More motions are already being tabled, and by the end of the year, a majority of Brussels’ 19 municipalities could be on record calling for a ban.
While local politicians are taking the lead, the outlook a little higher up the chain looks less promising.
Europe’s ad town and the EU’s lobby town
Everyday tens of thousands of officials, MEPs, assistants and diplomats brave Brussels morning rush hour on their way to work on the laws that will decide whether Europe meets its climate targets.
Along the way they pass numerous temptations, bus shelters and metro walls selling them petrol cars, weekend flights and gas contracts, normalising the ongoing mass-consumption of these products.
Once they reach their offices, they meet the same industry again, this time in person. The seven biggest oil and gas companies alone have declared lobbying budgets of almost €64m.
Fossil Free Politics research shows EU Commissioners and their cabinets had nearly 900 meetings with fossil fuel lobbyists in the last term. That’s nearly once every working day, showing just how embedded the industry is in the daily rhythm of Brussels life.
Some files come under particularly heavy pressure, with one egregious example being how a secretive alliance of eleven large multinational enterprises worked to tear down the EU’s flagship human rights and climate law last year, the Corporate Sustainability Due Diligence Directive (CSDDD).
The fossil fuel industry is currently mounting an extremely intense lobbying campaign to delay and dilute the EU Methane Emissions Regulation over the past year.
Over 80 percent of all commission meetings with external interest representatives on this regulation involved fossil fuel lobbyists, and the European Parliament is no better. All 17 MEPs who called for the methane regulation to be reopened in an April 2026 letter to the commission had met with fossil fuel lobbyists in the preceding year.
And those are only the declared figures.
Lobbyists roaming the corridors
Safe to say, the real total is almost certainly higher. According to new research by Reclaim Finance, on two out of every three days, the fossil-fuel lobbyists present at the European Parliament had no meetings scheduled with MEPs. They roam the corridors and cafés in the building, aiming to bump into the MEPs they wish to influence.
The councillors behind these fossil ad ban motions are not pretending that a few billboards will single-handedly solve the climate crisis, but they refuse to continue letting public spaces be misused by the fossil, automotive and aviation industry to freely promote their propaganda; as for the latter, especially since the advertised destinations are often precisely those places that have been the victims of severe climate disruptions..
“The summer of 2026 was a painful awakening to the harsh reality of the consequences of the climate crisis,” said Mathias Gyselen, the Ecolo-Groen councillor who tabled Schaerbeek’s motion in September.
“Heatwaves, heat islands and heat deaths are unfortunately becoming the new normal in the city. Doing nothing is no longer an option.”
They are right. Advertising is how the fossil fuel industry keeps its social licence, presenting itself as part of the solution while expanding the very products driving the crisis.
Not just the five sub-municipalities of the Brussels capital acknowledge this, but over 70+ cities worldwide have taken steps to clear their streets from fossil fuel advertising, among them Amsterdam, Sydney, Stockholm and Edinburgh.
The problems with advertisements, and multi-million euro lobby strategies, are not just that they very much harm the planet, they are also fundamentally undemocratic.
Residents, community groups and civil society organisations cannot match the industry’s firepower. They do not have the budgets, the staff or the open doors that put them across the table from lawmakers week after week.
Europe has dealt with this before.
‘Godfathers of climate chaos’
Tobacco lobbyists no longer get privileged access to health ministers, nor can cigarette brands buy billboards. For many similar reasons the world wants to end fossil fuels, the EU banned tobacco advertising because promoting a deadly product was incompatible with public health.
UN secretary-general António Guterres made the same comparison in 2024 when he urged every country to ban fossil fuel advertising, naming fossil-fuel companies as the “godfathers of climate chaos”
Municipal motions are not binding, so the decision now lies with the Brussels-Capital Region, which controls advertising in the metro, along regional roads and on its own infrastructure. A first obvious step is that it should listen to its municipalities and introduce a city-wide ban.
But the message is also addressed to the institutions on the other side of the Rue de la Loi.
If the streets of Europe’s capital are being cleared of fossil fuel promotion, the corridors of its institutions should be too. That means limiting the industry’s access to decision-makers, closing the revolving door, and rejecting fossil fuel sponsorship and partnerships, just as the EU did with tobacco.
The municipalities of Brussels have shown what local democracy looks like. Now it is up to the region and the EU institutions to show that Europe’s capital is not for sale; not on its billboards, and not in its corridors of power.
Perché la mozzarella di bufala è a rischio, cosa sta succedendo nei caseifici
La mozzarella di bufala, eccellenza simbolo del made in Italy agroalimentare e pilastro dell’economia del Mezzogiorno, si trova ad affrontare una delle fasi più complesse della sua storia recente. Tra le pareti dei caseifici e lungo i pascoli delle zone di produzione d’origine, l’equilibrio di un’intera filiera appare infatti oggi fortemente compromesso.
Mentre in tutta Italia i consumatori temono ripercussioni sulla reperibilità e sui prezzi del prodotto finale, numerosi caseifici hanno dovuto sospendere la lavorazione perché il latte non arriva, a causa del fermo degli autotrasportatori. Il risultato è uno stop della produzione che rischia di avere delle conseguenze molto spiacevoli.
Cosa c’è dietro lo stop alla produzione di mozzarella di bufala in Italia
A mettere in difficoltà la filiera della mozzarella di bufala campana Dop è lo sciopero degli autotrasportatori. In Campania, soprattutto nelle province di Caserta e Salerno, numerosi caseifici hanno dovuto sospendere le attività per la mancata consegna del latte proveniente dagli allevamenti.
La mobilitazione, partita nel Mezzogiorno per protestare contro il caro carburante, sta provocando conseguenze che vanno ben oltre il settore della logistica. Infatti, anche se le bufale continuano a essere munte, senza trasporti regolari la materia prima rischia di non poter essere lavorata entro i tempi stabiliti. Le difficoltà partono già negli allevamenti, dove il latte si accumula, e si estendono ai punti vendita, con una disponibilità della mozzarella sempre più incerta.
La situazione nei supermercati
Uno degli effetti più visibili del blocco riguarda la disponibilità della mozzarella di bufala campana Dop nei punti vendita. La riduzione dell’offerta è già visibile. Gli scaffali dei supermercati sono meno forniti e c’è maggiore difficoltà nel reperire il prodotto, soprattutto nelle aree in cui la domanda è elevata. La continuità delle forniture sta mettendo in difficoltà anche pizzerie, ristoranti, gastronomie e rivenditori specializzati, che devono programmare gli acquisti sulla base della disponibilità effettiva.
Non è però possibile stabilire, sulla base delle sole chiusure segnalate, quanto dureranno le eventuali carenze o quali saranno gli effetti sui prezzi al dettaglio. Questi dipenderanno dalla durata della mobilitazione, dalle scorte già presenti nei punti vendita e dalla velocità con cui allevamenti, caseifici e distributori riusciranno a riprendere le normali attività.
Cosa si rischia ora
A parlare per primo di allarme è stato il Consorzio di tutela della mozzarella di bufala campana Dop, che il 21 ottobre 2026 ha denunciato la chiusura di numerosi stabilimenti e chiesto un intervento urgente del governo. Oltre alla temporanea scarsità del prodotto sugli scaffali, le perdite economiche potrebbero colpire l’intero settore, per poi estendersi ad altri comparti, dall’agroalimentare all’export.
Secondo quanto riferito dal direttore, Pier Maria Saccani, non è sufficiente avere allevamenti in attività e impianti pronti a lavorare. La mozzarella di bufala è un prodotto fresco, la cui produzione dipende dalla disponibilità regolare di latte. Il latte destinato alla Dop deve essere lavorato entro 60 ore dalla mungitura, quindi occorre che arrivi a destinazione nelle condizioni e nei tempi necessari per essere trasformato.
Questo non significa necessariamente che ogni quantitativo di latte rimasto fermo debba essere automaticamente buttato. Può essere utilizzato per produrre mozzarella, ma questa non avrà la certificazione Dop. E questo si traduce in un danno economico superiore a quello provocato da una semplice interruzione temporanea:
- per gli allevatori, il danno può tradursi in costi aggiuntivi, difficoltà organizzative e possibili perdite di materia prima;
- per i caseifici, invece, la sospensione dell’attività comporta una riduzione dei volumi lavorati e maggiori difficoltà nel rispettare gli ordini già ricevuti.
Inoltre, tutto sta succedendo in un momento già delicato, per via dell’aumento dei costi di produzione denunciato da tempo dagli operatori di settore. Adesso quindi, se la protesta dovesse continuare, la situazione finanziaria già complicata potrebbe ulteriormente aggravarsi.
Intanto, il governo ha annunciato nuovi aiuti per gli autotrasportatori, ma alcuni manifestanti avevano prospettato la possibilità di proseguire la mobilitazione almeno fino al 27 ottobre.
- QuiFinanza
- Stop a produzione di pasta a causa del blocco dei Tir, si ferma il primo stabilimento italiano
Stop a produzione di pasta a causa del blocco dei Tir, si ferma il primo stabilimento italiano
Il blocco degli autotrasportatori contro il caro carburanti colpisce anche l’industria della pasta italiana. Il pastificio Rummo ha sospeso la produzione da lunedì 19 ottobre 2026.
Ad annunciare lo stop è stato Cosimo Rummo, presidente e amministratore delegato dell’azienda, in un’intervista a Repubblica. Anche La Molisana, con sede a Campobasso, ha ridotto drasticamente l’attività a causa dei problemi nei rifornimenti.
Cosa è successo a Rummo
Il pastificio Rummo ha dovuto interrompere la produzione dopo aver esaurito le scorte di materie prime disponibili nello stabilimento di Benevento. La sospensione è arrivata dopo circa una settimana di difficoltà nei rifornimenti, provocate dal blocco dei trasporti e dall’impossibilità di garantire le normali consegne.
Anche con gli impianti operativi e con gli ordini commerciali che continuano ad arrivare, le attività sono state sospese perché senza un flusso costante di ingredienti e materiali indispensabili è impossibile andare avanti. Nel caso della pasta, in particolare, se i camion che trasportano la semola di grano duro non raggiungono lo stabilimento, le scorte interne possono garantire la continuità soltanto per un periodo limitato. Una volta esaurite, l’alternativa è ridurre i ritmi produttivi oppure fermare temporaneamente le linee. E così è successo.
Perché anche La Molisana ha ridotto la produzione
Altri pastifici del Sud Italia stanno affrontando difficoltà analoghe a Rummo. Tra questi c’è La Molisana, a Campobasso, che non si è fermata ma ha dovuto ridurre drasticamente la produzione.
Coltivazione del grano duro, molitura, lavorazione industriale, confezionamento e distribuzione devono funzionare in modo coordinato, mentre un rallentamento anche in una sola fase può ripercuotersi sulle successive, soprattutto quando le imprese dispongono di scorte limitate. Se l’interruzione si protrae, le conseguenze possono estendersi anche ai rapporti con la grande distribuzione organizzata, con i distributori e con gli operatori dei mercati esteri.
La disponibilità di grano duro, dunque, non è sufficiente da sola a garantire la continuità produttiva. Il cereale deve essere raccolto, movimentato e trasformato in semola, che deve poi raggiungere i pastifici nei tempi richiesti dai rispettivi programmi di lavorazione.
Scorte di magazzino e costi logistici: cosa si rischia ora
C’è poi un altro problema con il quale le imprese di settore devono fare i conti in questi giorni di forte stress logistico. Le scorte rappresentano una delle principali difese contro le interruzioni delle forniture, è vero. Disporre di una riserva di semola permette a un pastificio di proseguire la produzione anche quando una consegna subisce un ritardo. Tuttavia, mantenere grandi quantità di materie prime in magazzino comporta costi e richiede spazi adeguati.
Le conseguenze economiche possono quindi manifestarsi sia nell’immediato, attraverso le ore di produzione perse e i ritardi nelle consegne, sia nel medio periodo, qualora le aziende debbano riorganizzare i contratti, sostenere spese aggiuntive o modificare la gestione delle scorte.
Le misure del governo
Intanto, il governo ha messo sul piatto un pacchetto di interventi finanziari. Il ministero delle Infrastrutture e dei Trasporti ha sbloccato 480 milioni di euro e misure di ristoro contro il caro gasolio. Il Consiglio dei ministri è stato inoltre convocato per giovedì 22 ottobre, alle 12, per approvare un decreto legge con le misure per l’autotrasporto.
L’annuncio delle risorse ha aperto i primi spiragli, portando alla revoca dei blocchi regionali in Sicilia. Nella serata di mercoledì 21 ottobre anche in Calabria Fedralog, la federazione regionale della logistica, ha sospeso il fermo, in attesa dell’incontro con il ministro Matteo Salvini del 27 ottobre. Tuttavia, la mobilitazione di varie sigle e presidi spontanei di autotrasportatori sta proseguendo in diverse aree, tra cui Campania, Puglia e Lazio.
Di conseguenza, per il comparto pastario e per l’intera filiera agroalimentare la situazione resta complessa. La ripresa delle consegne di semola di grano duro verso i pastifici del Centro-Sud avviene ancora a rilento, impedendo il ritorno ai normali ritmi produttivi.