Donald Trump approved USD30m fund for energy security of Ukraine

Donald Trump and Petro Poroshenko, June 20, 2017 (President.gov.ua, CC BY)

In Bulgaria renewable energy consumption up 10 per cent in 2017

Bucharest competes to host two European agencies

Ukraine

The U.S. President Donald Trump signed the “Countering America’s Adversaries Through Sanctions Act”, thereby introducing sanctions against Russia. According to the bill, a special Countering Russian Influence Fund will be established with the budget of USD250m for the fiscal year 2018-2019. The Interfax informs USD30m will be “allocated for the implementation of initiatives to support Ukraine’s energy security”.

Introduction of such measures by the U.S. Congress was aimed to punish Russia for its malicious activity in Ukraine and to reduce Ukraine’s and American allies’ dependence on Russian energy resources.

As we earlier reported, the sanctions will affect European companies cooperating in the Nord Stream II project. Poland and other CEE countries oppose completing the pipeline linking directly Russian and German gas infrastructure.

Ukrainian embassy in the United States has commented: “it is the policy of the United States to support the Government of Ukraine in restoring its sovereign and territorial integrity; to condemn and oppose all of the destabilizing efforts by the Government of the Russian Federation in Ukraine in violation of its obligations and international commitments; to never recognize the illegal annexation of Crimea by the Government of the Russian Federation or the separation of any portion of Ukrainian territory through the use of military force.”

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Bulgaria

Novinite.com reports that the use of renewable energy in Bulgaria increased by 10 per cent in the period January – July 2017. The data from the Electricity System Operator shows that during the period 748,138 megawatt hours of renewable energy have entered the grid. It’s up 9.91 per cent compared to the same period of 2016. The biggest increase was observed in the usage of wind power (up 6.61 per cent). Photovoltaics was up 0.82 per cent.

When it comes to the participation of renewable sources in the distribution network – the use of biomass energy was up 10.27 per cent and that of wind generators was up 8.25 per cent. The use of electricity from solar power plants dropped by 0.42 per cent. Also the hydroelectric power use decreased by 29.46 per cent.

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Romania

Two European agencies are looking for new locations for their headquarters, due to Brexit. One is the European Medicines Agency (EMA) – the largest one, with the headcount of almost 900. The second is the European Banking Authority (EBA) with the headcount of about 100. The future headquarters will be established by vote which is scheduled November 20th. Romania Insider reports Bucharest is one of the 23 European cities that have applied to host the agencies (or at least one of them). The total headcount of both agencies is about 1,000. Their employees are supposed to arrive with their families and generate economic revenues in the area.

As reported, Bucharest has proposed Globalworth Campus – a modern office complex developed in the Pipera business area – as a location of the European Medicines Agency.

The European Commission will assess the candidate cities by September 30th.

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What’s up in indexes

BET (of Bucharest) increased from 8,285.16 index points Tuesday, August 1st to 8,307.64 index points Wednesday, August 2nd. It’s up 0.27 per cent d/d and up 24.22 per cent y/y.

BUX (of Budapest) increased from 35,786.52 index points Tuesday, August 1st to 36,041.13 index points Wednesday, August 2nd. It’s up 0.71 per cent d/d and up 32.66 per cent y/y.

CROBEX (of Zagreb) decreased from 1,889.97 index points Tuesday, August 1st to 1,886.13 index points Wednesday, August 2nd. It’s down 0.20 per cent and up 7.27 per cent y/y.

OMXR (of Riga) increased from 994.70 index points Tuesday, August 1st to 998.19 index points Wednesday, August 2nd. It’s up 0.35 per cent d/d and up 56.44 per cent y/y.

OMXT (of Tallinn) decreased from 1,238.83 index points Tuesday, August 1st to 1,230.40 index points Wednesday, August 2nd. It’s up 0.68 per cent d/d and up 21.98 per cent y/y.

OMXV (of Vilnius) decreased from 628.86 index points Tuesday, August 1st to 627.08 index points Wednesday, August 2nd. It’s down 0.28 per cent d/d and up 15.19 per cent y/y.

PX (of Prague) decreased from 1,014.95 index points Tuesday, August 1st to 1,010.59 index points Wednesday, August 2nd. It’s down 0.43 per cent d/d and up 15.33 per cent y/y.

SAX (of Bratislava) increased from 336.00 index points Tuesday, August 1st to 339.05 index points Wednesday, August 2nd. It’s up 0.91 per cent d/d and up 8.63 per cent y/y.

SOFIX (of Sofia) increased from 713.30 index points Tuesday, August 1st to 715.14 index points Wednesday, August 2nd. It’s up 0.26 per cent d/d and up 56.02 per cent y/y.

UX (of Kyiv) increased from 1,135.23 index points Tuesday, August 1st to 1,136.76 index points Wednesday, August 2nd. It’s up 0.13 per cent d/d and up 59.59 per cent y/y.

WIG20 (of Warsaw) decreased from 2,386.40 index points Tuesday, August 1st to 2,366.06 index points Wednesday, August 2nd. It’s down 0.85 per cent d/d and up 31.18 per cent y/y.