Germany

Germany sources new supplies of LNG from the Middle East as it risks running out of gas

23 Mar 2023; MEMO: Germany plans to have as much as 70.7 million tons, per year, of LNG import capacity by 2030 as the country faces the risk out of gas, Argus reports.

According to the report, Germany no longer receives Russian gas via Nord Stream, which was sabotaged in the autumn of 2022.

Germany: Ukraine, IMF agree on $15.6 billion loan package

FRANKFURT, Germany (AP) — Ukraine and the International Monetary Fund have agreed on a $15.6 billion loan package aimed at shoring up government finances severely strained by Russia’s invasion and leveraging even more support by reassuring allies that Ukraine is pursuing strong economic policies and fighting corruption.

Germany: ECB raises interest rates by another 50 bps

FRANKFURT, March 16 (Xinhua) -- The European Central Bank (ECB) on Thursday raised interest rates by another 50 basis points (bps), citing spiraling inflation in the eurozone.

After the rate hike, the interest rates on the main refinancing operations, on the marginal lending facility and on the deposit facility will be increased to 3.5 percent, 3.75 percent and 3 percent, respectively.

German lawmakers approve plan to shrink bloated parliament

BERLIN (AP) — Lawmakers in Germany approved electoral reforms Friday that would educe the size of the country’s increasingly bloated parliament, but two opposition parties were vehemently critical and the plan is expected to face a court challenge.

Parliament’s lower house, or Bundestag, currently has a record 736 members. The changes approved on a 400-261 vote with 23 abstentions would reduce that number to 630.

Germany shuts down ‘world’s largest’ crypto launderer, US$46m seized

BERLIN, March 16 (NNN-AGENCIES) — German authorities said they had taken down the “world’s largest” money laundering site for cryptocurrency, seizing millions of euros’ worth of bitcoin in the process.

Law enforcement officials secured around 44 million euros of the digital currency in the move against online platform ChipMixer, the Federal Criminal Police Office (BKA) and Frankfurt prosecutor’s office said in a statement.

Working together with authorities in the United States and Europol, investigators also seized the servers belonging to the “darknet” site.

Scholz says Germany wants to curb ‘irregular migration’

BERLIN (AP) — Chancellor Olaf Scholz said Thursday that Germany will have to do a better job at clamping down on “irregular migration” and deporting those who don’t legally reside in the country.

Scholz said that Germany, however, would continue to provide protection for Ukrainians fleeing Russia’s war.

Germany’s oil imports from Russia down 99.9% in January — statistics

BERLIN, March 13. /TASS/: Crude oil imports from Russia plummeted by 99.9% year-on-year in January 2023, the Federal Statistical Office of Germany said on Monday.

"In January, Germany imported 3,500 metric tons of Russian oil," the Office said, adding that such volumes were imported by the EU before January 1, 2023. In January 2022, Germany imported 2.8 mln metric tons of Russian crude oil.

To substitute the Russian oil, Germany scaled up supplies from Norway (plus 44%), the United Kingdom (+42%), and Kazakhstan (+34.6%).

No departures at Berlin, Bremen, Hamburg airports as security staff strike

BERLIN, March 13 (Reuters) - Berlin, Bremen and Hamburg airports said no commercial flights would take off on Monday due to a strike by trade union Verdi over pay.

"Due to the warning strike by employees at the aviation security controls, no commercial departures will take place at BER today, March 13. Incoming flights may also be affected," Berlin airport said on its website.

Hamburg airport also said that arrivals could be delayed or cancelled. Bremen said were there would be no flights from its airport.

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