Latest European Union News

Russia rejects $60-a-barrel cap on its oil, warns of cutoffs

Dec. 03, 2022 16:03 PM EST

KYIV, Ukraine (AP) — Russian authorities rejected a price cap on the country's oil set by Ukraine’s Western supporters and threatened Saturday to stop supplying the nations that endorsed it. Australia, Britain, Canada, Japan, the United States and the 27-nation European Union...

Gas prices drop again in NJ, around nation as oil cost drops

Dec. 03, 2022 13:55 PM EST

TRENTON, N.J. (AP) — Gas prices dropped again in New Jersey and around the country as the cost of oil edged lower amid fears of economic slowdowns around the globe. AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $3.63, down 12 cents...

Sweden extradites to Turkey man convicted of terror links

Dec. 03, 2022 12:06 PM EST

ISTANBUL (AP) — Turkish authorities on Saturday arrested and jailed in Istanbul a convicted member of an outlawed militant group who was extradited from Sweden where he had fled, Turkey’s state-run news agency said. The move comes as the NATO member continues to hold up Sweden...

UK arrests wealthy Russian as police target Putin enablers

Dec. 03, 2022 09:47 AM EST

LONDON (AP) — British authorities have arrested a wealthy Russian businessman on suspicion of money laundering, amid efforts to disrupt potential criminal activity by oligarchs and others linked to Russian President Vladimir Putin. The National Crime Agency said more than 50...

EXPLAINER: Can Ukraine pay for war without wrecking economy?

Dec. 03, 2022 02:26 AM EST

FRANKFURT, Germany (AP) — Even as Ukraine celebrates recent battlefield victories, its government faces a looming challenge on the financial front: how to pay the enormous cost of the war effort without triggering out-of-control price spikes for ordinary people or piling up debt that could hamper...

Macron hits New Orleans' French Quarter, meets with Musk

Dec. 02, 2022 20:37 PM EST

NEW ORLEANS (AP) — French President Emmanuel Macron arrived Friday in Louisiana, the American state most closely aligned historically with his country, to celebrate their longstanding cultural ties and discuss energy policy and climate change. Macron met with political leaders and...

EXPLAINER: What's the effect of Russian oil price cap, ban?

Dec. 02, 2022 18:12 PM EST

FRANKFURT, Germany (AP) — Western governments have agreed to cap the price of Russia's oil exports in an attempt to limit the fossil fuel earnings that support Moscow's budget, its military and the invasion of Ukraine. The cap is set to take effect Monday, the same day the...

G-7 joins EU on $60-per-barrel price cap on Russian oil

Dec. 02, 2022 18:04 PM EST

WASHINGTON (AP) — The Group of Seven nations and Australia joined the European Union on Friday in adopting a $60-per-barrel price cap on Russian oil, a key step as Western sanctions aim to reorder the global oil market to prevent price spikes and starve President Vladimir Putin of funding for his...

European security org faces existential crisis at meeting

Dec. 02, 2022 16:23 PM EST

LODZ, Poland (AP) — A security organization born in the Cold War to maintain peace in Europe ended a high-level meeting Friday without a final resolution, underlining the existential crisis it is facing amid Russia's war against Ukraine. The war launched by one member of the...

European Union nations tentatively agree on $60-per-barrel price cap on Russian oil ahead of Monday embargo

Dec. 02, 2022 12:15 PM EST
BRUSSELS (AP) — European Union nations tentatively agree on $60-per-barrel price cap on Russian oil ahead of Monday embargo.