On Sunday, the second phase of the sixth package of anti-Russia sanctions was introduced. The EU has now banned the import and re-export of processed petroleum products from Russia. The Hungarian government, however, managed to secure an exemption.

To meet the demand for electric vehicles, the Volkswagen Group intends to establish a total of six new battery plants around Europe by 2030. However, the project may become unfeasible if energy prices continue to rise.

Brussels has revealed its latest plan to curb energy prices in Europe. An expert of Századvég Institute has taken a closer look at the document.

While member countries agree that there is a need to curb energy prices, differences have surfaced as to the details of the intervention.

Ursula von der Leyen, the president of the European Commission, announced on Monday that the EU is preparing an ’emergency intervention’ in the bloc’s power market to curb skyrocketing prices.