4 h. ago NatWest changes its policy over investing in oil and gas companies

Changing its language around what it can invest in raises serious questions over the bank’s formerly-pioneering green policy, campaigners say

Events

7 d. ago EU mulls plan to let importers break Russian gas contracts without penalties

European Commission could reportedly let energy companies declare force majeure and avoid paying MoscowThe European Commission is considering plans that would allow European companies to break long-term Russian gas contracts without paying penalties to Moscow, it has been reported.Citing three officials with knowledge of the plan, the Financial Times reported that the commission was studying the possibility of allowing companies to declare force majeure, which would absolve importers of their obligations to pay penalty fees for ending contracts. Continue reading...

Politics

7 d. ago EU considers plans for firms to break Russian gas contracts without penalties

European Commission could reportedly let energy companies declare force majeure and avoid paying MoscowThe European Commission is considering plans that would allow European companies to break long-term Russian gas contracts without paying penalties to Moscow, it has been reported.Citing three officials with knowledge of the plan, the Financial Times reported that the commission was studying the possibility of allowing companies to declare force majeure, which would absolve importers of their obligations to pay penalty fees for ending contracts. Continue reading...

Politics

1 week ago Criticise Trump’s tariffs all you like, but western sanctions aren’t any better – just ask Syria | Simon Jenkins

This form of economic aggression is macho and myopic, yet countries including the UK refuse to give it upAmong the more improbable countries that Donald Trump punished most severely last week was Syria, with a 41% tariff in retaliation for its part in the “raping and plundering” of the US economy. That should teach it a lesson for toppling Bashar al-Assad last year.The Damascus regime that subsequently came to power is pleading for help in keeping order and restoring its economy. But the chief obstacle is not Trump’s absurd tariff – now reduced to 10%. It is the sanctions regime imposed on it for the past 14 years by the west, including Britain. The US prohibits nearly all trade and financial transactions, extending this to foreign companies engaged with the Syrian government. EU sanctions targeted crude oil, investments, banking, telecoms and more. No tariff could be as severe as this.Simon Jenkins is a Guardian columnist Continue reading...

Politics

1 week ago Trump’s tariffs are ruinous, but are western sanctions any better? Just look at Syria | Simon Jenkins

Sanctions as a form of economic aggression are macho and myopic, yet countries including the UK refuse to call a haltAmong the more improbable countries that Donald Trump punished most severely last week was Syria, with a 41% tariff in retaliation for its part in the “raping and plundering” of the US economy. That should teach it a lesson for toppling Bashar al-Assad last year.The Damascus regime that subsequently came to power is pleading for help in keeping order and restoring its economy. But the chief obstacle is not Trump’s absurd tariff – now reduced to 10%. It is the sanctions regime imposed on it for the past 14 years by the west, including Britain. The US prohibits nearly all trade and financial transactions, extending this to foreign companies engaged with the Syrian government. EU sanctions targeted crude oil, investments, banking, telecoms and more. No tariff could be as severe as this.Simon Jenkins is a Guardian columnistDo you have an opinion on the issues raised in th...

Politics

1 week ago Green activist group is pausing work after backlash by investors

Dutch group Follow This says it will not file any resolutions against oil and gas companies this AGM seasonA green shareholder activist group has decided to “pause” its work pushing oil companies to reduce their emissions amid a growing investor backlash against climate action.Follow This has confirmed that it will not file any climate resolutions against oil and gas companies during the forthcoming AGM season for the first time since 2016. Continue reading...

Economics

1 week ago California's effort to hold oil companies liable for natural disaster damage stalls

A bill in the California Legislature that would have made oil and gas companies liable for damage to homes caused by natural disasters has failed to advance

Events

2 w. ago Days of severe storms leave 18 dead as rising rivers threaten US south and midwest

Power and gas shut off in regions as flooding worsens, threatening waterlogged and badly damaged communities After days of intense rain and wind killed at least 18 people in the US south and midwest, rivers rose and flooding worsened on Sunday in those regions, threatening waterlogged and badly damaged communities.Utility companies scrambled to shut off power and gas from Texas to Ohio while cities closed roads and deployed sandbags to protect homes and businesses. Continue reading...

Events