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European and US oil and gas majors have made profits of more than a quarter of a trillion dollars since Russia invaded Ukraine, according to a new analysis by Global Witness marking two years since the conflict began. After posting record gains in 2022 off the back of soaring energy prices, the big five fossil fuel companies paid shareholders an unprecedented $111 billion in 2023. In the hottest year ever recorded, this figure is some 158 times what was pledged to vulnerable nations at last year’s COP28 climate summit.
In Munich I heard both Ukrainians and Alexei Navalny’s widow tell us why Putin must be defeated, says Guardian columnist Timothy Garton Ash
Energy prices are rocketing, inflation is soaring and millions are being starved of grain. Surely Johnson knew this would happen?
He has weaponised food, energy and refugees, spreading economic and political pain across the continent. Sanctions don’t work, a land for peace deal would be a disaster. Only the military route remains
In Madrid, the organisation showed a great sense of purpose. But beware a divided Europe and a US still tired of paying for the continent’s security
President Zelenskiy and Ukraine want it finished by winter, but Russia still holds the balance of power
It may sound like Marxism, but the proposal aimed at taming prices and cutting Putin’s funds came from the G7
Coal plants will be reactivated if Russian President Vladimir Putin threatens a gas cutoff, a government official said. That would trigger the second of a three-stage Germany’s gas emergency plan.
The war in Ukraine is laying bare a generational divide over what lessons Germany should draw from its own history of waging bloody conflicts, as some of the country’s leading artists and intellectuals line up in favour of or against supplying Kyiv with weapons in a series of open letters.
Russia has nearly doubled its revenues from selling fossil fuels to the EU during the two months of war in Ukraine, benefiting from soaring prices even as volumes have been reduced.
Only the boldest leadership can unite the EU against the delusional tyrant in Moscow. The German chancellor has the chance to provide it
Strong measures by Europe could quickly deprive Russia of oil and gas income worth billions, experts say
Germany is bracing for supplies to be cut by Moscow in retaliation for sanctions or as part of an energy embargo
An analysis of satellite images by The New York Times rebuts claims by Russia that the killing of civilians in Bucha, a suburb of Kyiv, occurred after its soldiers had left the town. When images emerged over the weekend of the bodies of dead civilians lying on the streets of Bucha — some with their hands bound, some with gunshot wounds to the head — Russia’s Ministry of Defense denied responsibility. In a Telegram post on Sunday, the ministry suggested that the bodies had been recently placed on the streets after “all Russian units withdrew completely from Bucha” around March 30.
Russian soldiers who seized the site of the Chernobyl nuclear disaster drove their armoured vehicles without radiation protection through a highly toxic zone called the "Red Forest", kicking up clouds of radioactive dust, workers at the site said. The two sources said soldiers in the convoy did not use any anti-radiation gear. The second Chernobyl employee said that was "suicidal" for the soldiers because the radioactive dust they inhaled was likely to cause internal radiation in their bodies.
When the lights went out at Chornobyl Nuclear Power Plant on 9 March, the Russian soldiers holding Ukrainian workers at gunpoint became the least of Anatolii Nosovskyi’s worries. More urgent was the possibility of a radiation accident at the decommissioned plant. If the plant’s emergency generators ran out of fuel, the ventilators that keep explosive hydrogen gas from building up inside a spent nuclear fuel repository would quit working, says Nosovskyi, director of the Institute for Safety Problems of Nuclear Power Plants (ISPNPP) in Kyiv. So would sensors and automated systems to suppress radioactive dust inside a concrete “sarcophagus” that holds the unsettled remains of Chornobyl’s Unit Four reactor, which melted down in the infamous 1986 accident.
It is vital Moscow understands that escalation will not be risk-free, and expects a proportionate response
The Ukrainian crisis has revived an old debate: how to effectively sanction a state like Russia? Let’s say it straight away: it is time to imagine a new type of sanction focused on the oligarchs who have prospered thanks to the regime in question. This will require the establishment of an international financial register, which will not be to the liking of western fortunes, whose interests are much more closely linked to those of the Russian and Chinese oligarchs than is sometimes claimed. However, it is at this price that western countries will succeed in winning the political and moral battle against the autocracies and in demonstrating to the world that the resounding speeches on democracy and justice are not simply empty words.
The war in Ukraine and surging oil prices are other factors that could prompt PBOC action when it announces its policy loan rates Tuesday, as the nation aims to achieve a growth target of 5.5% for the year. The Hong Kong and China stocks sold off Monday, led by losses in technology shares, due to risks from Beijing’s close relationship with Russia and regulatory concerns.
A Russian former foreign minister has joined a call for all sides in the Ukrainian war to return to diplomacy and so reduce “the dramatically elevated risk” of a nuclear conflict. The appeal co-authored by Prof Igor Ivanov, now the president of the Russian International Affairs Council, may be a sign that some in the Russian foreign policy establishment believe that pursuing a purely military solution in Ukraine is a strategic mistake.
Minister warns an immediate stop to supplies could hurt Germany’s population more than Putin
The attack on a training base in Ukraine marks Putin’s attempt to take the war to the West and a more brutal phase in the destruction of the country’s independence
The west’s earlier inaction has exacted a heavy price and now attempts to overcompensate are dangerous
There are two likely paths: continued escalation, potentially across the nuclear threshold, or a bitter peace imposed on a defeated Ukraine
At the beginning of nearly every war including the current one in Ukraine, there are those who loudly declare that it will be over shortly and then business-as-usual can resume. They are rarely right. While no one can say for certain what the trajectory of the Russian-Ukrainian conflict will be, the economic warfare that is going on alongside it is very likely to destroy the current global trading system.
Measures implemented this year could bring down gas imports from Russia by over one-third, with additional temporary options to deepen these cuts to well over half while still lowering emissions.
As head of state-owned oil firm Rosneft, oligarch commands central place in the economy
Russia’s growing isolation has strengthened the ‘siloviki’ who surround the president
If the Russians are ever to withdraw, then a diplomatic agreement on the terms of withdrawal will be necessary. So what should the demands be?
Russia’s military offensive against Ukraine is an act of aggression that will make already worrisome tensions between Nato and Moscow even more dangerous. The west’s new cold war with Russia has turned hot. Vladimir Putin bears primary responsibility for this latest development, but Nato’s arrogant, tone‐deaf policy toward Russia over the past quarter‐century deserves a large share as well. Analysts committed to a US foreign policy of realism and restraint have warned for more than a quarter‐century that continuing to expand the most powerful military alliance in history toward another major power would not end well. The war in Ukraine provides definitive confirmation that it did not.
