Russia Blames European Sanctions for Pipeline Shutdown
Russia has announced that it will not resume gas supplies along the Nord Stream 1 pipeline to Europe until sanctions are eased.
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EU
Eurozone Inflation Hits New Record High
Eurozone inflation hit a new record high of 8.9% year-on-year in July, according to the EU’s statistics office.
EU Shakes On Radical Rules For Regulating Crypto
On Thursday, EU lawmakers announced that the EU had agreed on radical new rules for regulating crypto assets amid increasing concerns over the world’s largest cryptocurrency, Bitcoin.
Russia’s Oil Revenues Withstand Sanctions
According to the International Energy Agency (IEA), Russia’s oil revenues have held out against sanctions from global companies and most countries following its unprovoked invasion of Ukraine in late February.
US Oil Falls Below $100 A Barrel Amid Inflation Concerns
On Tuesday, US crude oil prices fell below $100 a barrel.
