A USD 500 million loan for the share of Russian gas giant Lukoil in a major gas project in Azerbaijan has been approved yesterday by the Board of Directors of the European Bank for Reconstruction and Development (EBRD). Yet, the decision will significantly hinder Europe's commitments to decarbonise as well as to advance democracy.
The request is made in the context of Ukraine's obligations under the Espoo convention, such that the EBRD and EuroAtom should "take steps for suspending the loan proceedings until a full trans-boundary EIA process for nuclear units lifetime extension is launched and carried out in accordance with international treaties to which Ukraine is a party."
Twenty-five (updated: 4:45pm, CET) Members of the European Parliament (MEPs) have signed a letter today urging the European Bank for Reconstruction and Development (EBRD) and Euratom to suspend their financial support for Ukraine's ageing nuclear reactors until the potential environmental impacts of their prolonged operation in Ukraine and on neighbouring countries are fully assessed.
Platform have taken to the streets of London to protest the opening of the European Games. See a video of the action below, and read more in their book published Friday, All that glitters, which explores how the European Games belong to the Aliyev regime and the British oil company BP and how sport is being co-opted in the service of a dynasty and fossil fuels.
By signing the Energy Community Treaty in 2005, countries in the Western Balkans, Ukraine and Moldova agreed to abide by the European Union's competition rules. But a number of energy sector investments are being planned that may not so far have taken adequate account of state aid rules. This briefing includes case studies of projects from Bosnia-Herzegovina, Kosovo, Montenegro, Serbia, and Ukraine.
See related materials including a more detail briefing, a press release and a slideshow at:
Prague - New investments in coal mines and power plants could cost the Western Balkans and Ukraine dearly if they fail to take into account binding rules on subsidies (State aid), according to a new briefing released today by CEE Bankwatch Network.
By signing the Energy Community Treaty in 2005, countries in the Western Balkans, Ukraine and Moldova agreed that the European Union's competition rules are to be applied also within their territory. A number of energy sector investments are being planned that may not so far have taken adequate account of State aid rules. This briefing therefore provides a summary to draw attention to relevant requirements of EU law and highlight the risks of failure to take them into account when planning investments. The account when planning investments.