The reason behind russia and ukraine war

By Michael Race Published 26 July comments Comments Share close Share page Copy link About sharing Related Topics Russia-Ukraine war European Union members have agreed to cut gas use in case Russia halts supplies but some countries will have exemptions to avoid rationing. EU members, locked in talks since the idea was suggested last week, have now agreed to voluntarily reduce 15% of gas use between August and March. "This was not a Mission Impossible!", tweeted the Czech Republic, which holds the rotating EU presidency. However, the deal was watered down after previously not having exemptions. The EU has said its aim from the deal is to make savings and store gas ahead of winter, warning that Russia is "continuously using energy supplies as a weapon". The voluntary agreement would become mandatory if supplies reach crisis levels. … [Read more...] about EU allows get-out clause in Russian gas cut deal

By Noor Nanji Published 15 hours ago Share close Share page Copy link About sharing The UK is expected to take delivery of a shipment of gas all the way from Australia next week, as the pressure on European energy supplies grows. The liquid natural gas (LNG) is due to arrive on 22 August, according to commodities analysts Kpler. Australia doesn't usually sell gas this far afield, but European countries have been seeking alternatives to Russian gas following the invasion of Ukraine. The UK stopped importing gas from Russia in April. While the UK bought only a small fraction of its gas from Russia before the conflict began, the country is connected to the European gas network. Continental Europe is much more reliant on Russian gas, and deliveries via the Nordstream pipeline have already been curtailed. Moscow has been accused of using gas as a political weapon and there … [Read more...] about UK to receive shipment of Australian gas next week

Published 29 minutes ago Share close Share page Copy link About sharing It is the "absolute nightmare" that keeps Glasgow food manufacturer Jason Stevenson awake at night. His firm PK Foods has been supplying Indian snacks to the retail and restaurant trade since 1997. But Mr Stevenson said the last year had been the toughest of his career. UK inflation has gone into double digits for the first time since 1982 and the Bank of England warned it could peak at more than 13% this year. As a result virtually everything needed to run Mr Stevenson's business has soared in price with the war in Ukraine, Brexit and the Covid pandemic to blame. Contending with the cost of some raw materials jumping by up to 70% means for PK Foods, "it is about survival, it is not about profit any more". How much are prices rising for you? Why price rises are worse for some people than … [Read more...] about UK inflation: The pakora firm facing a nightmare

By John Campbell Published 2 hours ago comments Comments Share close Share page Copy link About sharing Northern Ireland's energy regulator has warned that households will face further gas prices rises in the coming weeks. The region's two suppliers, SSE and Firmus, last increased their prices at the start of July. The price of gas on global markets has surged in the last two months. Russia has reduced its supplies of gas to Europe, increasing competition for gas produced in other countries. Next week the UK is expected to take delivery of a shipment of gas from Australia. The regulator, John French, warned that households will face further gas price rises of up to 30% in the coming weeks. "Just as a rule of thumb, we have seen prices more than double, 60% of the final bill is wholesale prices," he told BBC Radio Ulster's Good Morning Ulster. … [Read more...] about Cost of Living: NI households to face further gas price rises