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Russia, Ukraine outline terms for five-year gas transit deal to end row

MOSCOW/KIEV (Reuters) – Russia and Ukraine announced terms of a new gas transit deal on Saturday, under which Moscow will supply Europe for at least another five years via its former Soviet neighbour and which will a $2.9 billion payment to Kiev to end a legal row. The deal is a major breakthrough for the both countries which have seeking to resolve their disputes over Ukraine’s eastern Donbass region and the Crimea peninsula, which Russia annexed in 2014. Under the new agreement, Russia’s Gazprom, which supplies over a third of Europe’s gas needs, would used an agent to …read more […]

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Tesla Closer to European Foothold for Battle With German Rivals

(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Elon Musk has moved a step closer to building his first car factory on the home turf of Volkswagen AG, Daimler AG and BMW AG as his company hammered out a contract to buy land in Germany.Officials in the state of Brandenburg said they agreed the text of a contract with Tesla Inc. to sell a 300-hectare (741-acre) plot of land — about 300 football fields — in Gruenheide near Berlin. Tesla also filed five binders of documents with a local environmental …read more […]

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Work on Russia Pipeline May Grind to Halt on Trump Sanctions

(Bloomberg) — AllSeas Group SA said it would halt operations on the Nord Stream 2 pipeline from Russia to Germany as U.S. President Donald Trump approved sanctions targeting the project, which critics say will bind Europe more tightly to Moscow.Germany lashed out against the U.S. penalties on Saturday, saying they’re “incomprehensible” and interfere in its internal affairs. “They hit German and European companies,” Ulrike Demmer, a spokeswoman for Chancellor Angela Merkel’s government, said in an emailed statement.The $11 billion project is just weeks away from completion and has led President Donald Trump to call Germany “a captive to Russia.” He …read more […]