Vessels are wary of passing the coast of Iran in the strait, given the fragile agreement, and the number of ships traveling through it has even dropped.
Category: European Commission
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Europe Heads for Another Energy Shock in a Vulnerable State
The New York Times – Business:The region’s stores of natural gas are running at the lowest level in years, and filling them up is increasingly daunting as the U.S.-led war in Iran pushes up prices.
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Surging Energy Costs Put German Industry ‘Really in Danger’
The New York Times – Business:Four years after the Russian invasion of Ukraine sent energy prices soaring, the war in Iran is posing another challenge to efforts to revive European factories.
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Trump to Target Forced Labor in Global Tariff Scheme
The New York Times – Business:The Trump administration is expected to begin a trade investigation into whether dozens of countries have policies to combat forced labor.
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G7 Countries Hold Off on Releasing Emergency Oil Supplies
The New York Times – Business:Finance ministers for the seven industrialized countries met on Monday and said they would consider releasing oil from reserves but were not ready to do so now.
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E.U. Pushes Ahead With South American Trade Deal Despite Legal Challenge
The New York Times – Business:The provisional application of the agreement with Brazil, Argentina, Paraguay and Uruguay is intended to diversify Europe’s trading relationships.
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Europe and China Take Step to Resolve Dispute on Electric Vehicles
The European Commission allowed carmakers to volunteer limits on their imports from China instead of paying tariffs, an arrangement that could help Volkswagen.
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European Union Agrees to Landmark Free-Trade Deal With South America
The agreement with Argentina, Brazil, Paraguay and Uruguay represents a push for deeper global cooperation, in contrast to the United States turning to coercion in its dealings with other countries.
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Europe May Roll Back Combustion Engine Ban
A proposal to revise an E.U. law requiring carmakers to stop producing combustion engines by 2035 would offer some relief to automakers, but it sets back the region’s climate goals.