Germany’s much-vaunted trade surplus disappears as import prices surge

Germany trade entered negative territory in May, raising questions about the stability of its economy in the wake of Russia’s invasion of Ukraine. Picture Alliance | Picture Alliance | Getty Images Germany is no longer exporting more than what it buys from other countries, highlighting the strains that the nation and other European economies are … Read more

Germany fears Russian gas flows could be about to stop for good

Russia says it stands ready to supply gas to Europe, describing ongoing disruption concerns as a “man-made crisis” created by Europe. Bloomberg | Bloomberg | Getty Images Russia is poised to temporarily shut down the Nord Stream 1 pipeline — the European Union’s biggest piece of gas import infrastructure — for annual maintenance. The works … Read more

Germany, Ireland slam UK move toward overriding Brexit deal

LONDON (AP) — Germany and Ireland have condemned the UK government’s move towards unilaterally rewriting parts of the post-Brexit deal with the European Union. German Foreign Minister Annalena Baerbock and Irish counterpart Simon Coveney said there was “no legal or political justification” for overriding the agreed trade rules in Northern Ireland. Writing in British newspaper … Read more

Berlin preps ‘huge thermos’ to help heat homes this winter

BERLIN (AP) — The rust-colored tower rising from an industrial site near the banks of Berlin’s Spree river looks nothing like the sleek flasks Germans use for coffee, yet its purpose is similar: to provide some warmth throughout the day, especially when it’s cold outside. With a height of 45 meters (almost 150 feet) and … Read more

An 8-year-old boy was missing for over a week in Germany. Then someone heard whimpering from beneath a manhole cover.

Police say there are no signs of foul play in the case of an eight-year-old boy who was found in a rainwater sewer more than a week after going missing in northern Germany. The boy, identified only as Joe, disappeared on June 17 in the town of Oldenburg. Search parties spent days looking for him … Read more

Europe’s plans to replace Russian gas are deemed ‘wildly optimistic’ — and could hammer its economy

A drilling rig at a gas processing facility, operated by Gazprom. Maxim Shemetov | Reuters The European Union’s best shot at replacing Russian gas imports this year is likely to miss the mark, analysts predict, exerting further pressure on the region’s economy. The EU plans to replace two-thirds of Russian gas imports by the end … Read more

Former Nazi guard Josef Schütz, 101, sentenced to prison

A 101-year-old former Nazi concentration camp guard was convicted in Germany on Tuesday of more than 3,500 counts of accessory to murder — becoming the oldest person to date to be held accountable for crimes related to the Holocaust. The Neuruppin Regional Court sentenced Josef Schütz to five years in prison, although he is unlikely … Read more

G-7 nations face threat of Russia shutting down more gas

Russian President Vladimir Putin makes a toast as he takes part in the XIV BRICS summit in virtual format via a video call, in Moscow on June 23, 2022. Mikhail Metzel | AFP | Getty Images The Group of 7 nations need to brace for a complete shutdown of Russian gas pipelines in the near … Read more

G-7 set to back pursuing Russian oil price cap, tariff hikes

ELMAU, Germany (AP) — The Group of Seven economic powers are set to commit themselves to supporting Ukraine for the long haul, with the US preparing to announce the purchase of an advanced surface-to-air missile system for Kyiv. Leaders are also set to announce an agreement to pursue a price cap on Russian oil, raise … Read more

G7 leaders discuss price cap on Russian oil over Ukraine invasion | Russia-Ukraine war News

G7 leaders meeting in Germany discuss plans to reduce Russian revenues from oil exports amid a surge in energy prices. Leaders of Group of Seven (G7) nations have discussed plans to cap the price of Russian oil in order to put the squeeze on Moscow, which is benefiting from soaring energy prices, and cut off … Read more