Two rockets hit Kirkuk Air Base and nearby home, no casualties reported
Two rockets struck the Kirkuk Air Base and a nearby residential neighbourhood on Monday night, Iraqi security officials said....
Russia’s gas transit to Europe via Ukraine ends after decades, closing a key supply route as the EU diversifies energy sources amid strained relations and economic shifts.
Russia’s long-standing gas supply to Europe via Ukraine, active for decades, will end on New Year’s Day as the contract between the two nations collapses. This deal had generated billions in revenue for Moscow and transit fees for Kyiv.
The closure signifies the end of Russia's longest-running gas route to Europe, coinciding with a decade of strained relations following the 2014 events in Crimea. In response to the 2022 conflict in Ukraine, thea EU increased efforts to diversify its energy sources, turning to liquefied natural gas (LNG) from Qatar and the U.S., as well as pipeline supplies from Norway.
In 2022, Gazprom, Russia's state-controlled gas exporter, recorded its first loss since 1999, losing $7 billion despite boosting exports to China. Slovakia and Austria, previously reliant on Russian gas via Ukraine, have secured alternative supplies through Italy and Germany, ensuring consumer needs. Slovakia, however, faces €177 million ($184 million) in additional fees for these routes.
The European Commission highlighted enhanced LNG import capacity, energy efficiency measures, renewable energy development, and a flexible gas system as key to mitigating the impact.
Analysts expect minimal market disruption, as the remaining Russian volumes via Ukraine are small, and European gas prices saw little movement.
Ukraine stands to lose $800 million annually in transit fees, while Gazprom will forgo $5 billion in sales. Moldova, heavily affected, plans to cut its gas use by a third. The EU has faced higher energy costs, hitting industrial competitiveness, exacerbating inflation, and worsening the cost-of-living crisis.
Other Russian pipelines, such as Yamal-Europe via Belarus and Nord Stream to Germany, have also ceased operations.
Once supplying 201 billion cubic meters of gas annually at their peak in 2018, Russia shipped only 15 bcm via Ukraine in 2023, down from 65 bcm in 2020. TurkStream, crossing the Black Sea, remains Russia's sole active route, supplying Türkiye, Hungary, and Serbia.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Thousands of protesters rallied in Bangkok on Saturday, demanding Prime Minister Paetongtarn Shinawatra resign as political and economic tensions mount.
The International Monetary Fund (IMF) on Monday approved the disbursement of an additional $500 million to Ukraine, following the completion of its eighth review under the country’s $15.5 billion Extended Fund Facility.
U.S. President Donald Trump on Monday publicly criticized AT&T for technical issues that disrupted a national conference call with faith leaders, urging the company’s leadership to address the situation and suggesting his administration may turn to a different carrier in future communications.
France, Spain, Kenya, and several other nations announced on Monday a joint pledge to tax premium-class airline passengers and private jet users, in a move aimed at raising billions of dollars for climate action and sustainable development.
At least 12 people have been killed and dozens more injured following an explosion and fire at a pharmaceutical factory in the southern Indian state of Telangana, officials said on Monday.
Two rockets struck the Kirkuk Air Base and a nearby residential neighbourhood on Monday night, Iraqi security officials said.
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