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NewsTranscript
00:14Υπότιτλοι AUTHORWAVE
00:30Iran's Revolutionary Guards now say they've struck a Liberia-flagged vessel
00:34they claim is Israeli-owned.
00:36Iran had promised to only target ships linked to the US or Israel,
00:41but another thigh carrier was also struck in the Strait of Hormuz.
00:45The Israeli military, meanwhile, says it has identified missiles
00:47launched from Iran towards Israel
00:49and that air defence systems are working to intercept them.
00:53This while thousands continue to flee southern Lebanon,
00:55and the International Energy Agency says its member countries
00:58could release up to 400 million barrels of oil
01:01from their reserves to ease the impact of the war.
01:04And French President Emmanuel Macron has said
01:06Iran's military capabilities had been weakened,
01:09but not, quote, reduced to zero by US and Israeli strikes.
01:13He made the comments after a meeting with G7 leaders,
01:16including President Donald Trump.
01:18For more on that G7 meeting, we can head straight to Paris
01:21and bring in Your News' France correspondent,
01:23Sofia Katzenkova, who's outside the Elyse Palace for us this morning.
01:27Good morning, Sofia.
01:28Look, France is pushing here for a coordinated response
01:30to the energy shock caused by the war in the Middle East.
01:33But what exactly can President Macron do?
01:38Well, speaking after the talk with leaders of the G7,
01:42which France currently chairs,
01:44French President Emmanuel Macron confirmed that countries
01:47had agreed to release 400 million barrels
01:52from strategic oil reserves.
01:54The move is designed to calm market prices
01:57as the conflict threatens shipping through the Strait of Hormuz,
02:02one of the world's most critical oil routes,
02:05which handles about a fifth of global supply.
02:08Macron said that the release would be equivalent
02:11to roughly 20 days of oil normally transiting
02:15through the Strait of Hormuz.
02:17But the French leader also insisted
02:20that the current energy shock
02:22should not change policy towards Moscow,
02:25despite the pressure on global oil markets.
02:29Let's take a listen.
02:29The situation is in no way justifying
02:35lifting the existing sanctions against Russia,
02:38which should continue.
02:39This situation should obviously not reduce our attention to Ukraine,
02:42our support for Ukraine,
02:44and the clarity we have regarding sanctions against Russia.
02:51So these comments come as U.S. President Donald Trump suggested earlier this week
02:58that some oil sanctions could potentially be lifted
03:01to ease pressure on markets,
03:04though he did not specify whether that would apply to Russia.
03:08And that's why Macron kept insisting yesterday
03:11that the war in the Middle East
03:13must not overshadow what's happening in Ukraine,
03:17where Russia's full-scale invasion has entered its fifth year.
03:22The French president is due to host his Ukrainian counterpart,
03:25Volodymyr Zelensky, in Paris tomorrow,
03:28where the two leaders are expected to discuss ways
03:32to increase pressure on Russia.
03:34Back to you, Brussels.
03:35Indeed, and we'll likely come back to you tomorrow
03:37for an update on that very important meeting.
03:39Sophia Katsinkova, thank you so much
03:41for that live broadcast there from Paris.
03:44Now, back in Brussels,
03:45there is major concern over the potential shocks
03:48this war could have on the European economy,
03:50from high inflation to low growth.
03:52The EU Commission is mulling next steps.
03:54For more, very shortly, we'll be joined here
03:56by the European Commissioner for the Economy,
03:58Valdis Dombrovsky.
03:59But first, let's bring in EU News' EU Editor,
04:01Maria Tadeo, for some more context.
04:03Maria, good morning.
04:04What is at stake here for the European economy?
04:06Good morning.
04:06So it's very much the scenario of stagflation
04:08that you allude to,
04:09one in which obviously growth is impacted,
04:11and then you see inflation pick up,
04:13mostly because of the energy story
04:16that is playing out around the Strait of Hormuz,
04:18but also the Gulf countries,
04:20where they're not just producers of oil,
04:22but they're also key in the transportation.
04:24Yesterday, we saw this emergency release
04:27of strategic reserves of oil
04:29to the tune of 400 million barrels.
04:31Obviously, the idea is that this is going to ease
04:33some of the price pressure,
04:34but of course, as long as the war continues,
04:36there is a big question mark
04:38as to whether you can stabilize
04:40a market so volatile
04:41with such uncertainty playing out on the ground.
04:45And Maeve, to that point, indeed,
04:46we are now joined by the Commissioner for the Economy,
04:49Valdis Dombrovsky,
04:50who joins us here in the studio.
04:52Good morning.
04:53Good morning.
04:54Commissioner, just a very simple question.
04:56How bad is it going to get for Europe?
04:59Well, the economic impact
05:01of current crisis in the Middle East
05:03to a large extent will depend
05:05on how long the conflict will continue,
05:09how wide it will spread.
05:11So, in a sense,
05:13if we manage to achieve a quick discolation,
05:16the impact may be limited.
05:17If it gets protracted
05:20and correspondingly both
05:22with disruptions for oil shipping
05:24and oil and gas production,
05:27that indeed, as you mentioned,
05:29can create a stagflationary shock
05:31for the European economy,
05:33where due to the elevated energy prices,
05:36it peaks in a broader inflation
05:39and also negatively affects growth
05:41through confidence effects,
05:43through disruptions in supply chains
05:46and through tighter financing conditions.
05:48So, then what are you going to do
05:50as a commission?
05:50Because we see the capital saying
05:52the European industry
05:53cannot deal with another energy shock.
05:55We need measures.
05:56And the commission is going back
05:57to the member states
05:57saying cut taxes
05:58on things like electricity.
06:00So, what's going to happen
06:01in the short term,
06:01in specific terms?
06:03Well, in the short term,
06:04as you already mentioned,
06:05it's a question of releasing
06:07the oil reserves,
06:09which we have,
06:09which can add substantial volumes
06:11to the market
06:12and which are meant exactly
06:13for situations like this,
06:15where we are facing disruptions.
06:18But the market did not
06:19take that as a positive.
06:21Oil prices still went up.
06:22Well, there we must see
06:25what are the reasons for this.
06:27First, we see that oil prices
06:28are very volatile.
06:30Second, Iran was hitting
06:32a major oil storage in Oman.
06:34It basically continues
06:35to target energy infrastructure
06:36in neighboring countries.
06:38so this volatility
06:40is certainly linked with this
06:43and those oil reserves volumes
06:46have not reached the market yet.
06:48And do you believe,
06:49and you've dealt with
06:50the U.S. administration
06:51many years now,
06:52do they have a plan?
06:53Because I'm confused.
06:54Is this a war
06:55or just an excursion?
06:56I listen to President Trump,
06:57I hear 20 different things a day.
06:59Well, I cannot tell this
07:01on behalf of U.S. administration.
07:04But what's your impression?
07:06Also, there were no prior consultations
07:08with the EU
07:09before taking those steps.
07:11But what's important right now
07:14is to work towards
07:15a quick de-escalation
07:16of the conflict.
07:17And from the EU side,
07:18we are also engaged
07:19with the countries of the region
07:21aiming for that.
07:22And let's talk about Ukraine
07:23because obviously
07:24you are very supportive of Ukraine.
07:25I think everyone knows this by now.
07:27There's a loan of 90 billion euros
07:29that is blocked by Hungary.
07:30There is no indication
07:31that the president
07:32or the prime minister of Hungary
07:33is going to botched.
07:35And at the time in December,
07:36we were told that
07:37if Ukraine didn't get the money
07:38by April,
07:38they would collapse.
07:39April is around the corner.
07:40So what's going to happen?
07:41Well, first of all,
07:43in between,
07:43we have finalized legislative work
07:46on a number of things
07:47of Ukraine support
07:48and regulation.
07:49We are also amendments
07:52to Ukraine facility.
07:53We are working
07:54with Ukrainian authorities
07:55on all the documents
07:56which are necessary
07:57like memorandum of understanding,
07:59financing,
08:00strategy, and so on.
08:01But the man is Orban,
08:02but it comes down to Orban.
08:03How do you deal with Orban?
08:04No, no, but
08:04so basically
08:05the missing element
08:06is amendments
08:07to the multi-annual
08:08financial framework
08:10which would allow
08:11the commission
08:12actually to go
08:13to the market
08:14and borrow.
08:15And this indeed
08:15we need by April
08:17and we continue
08:19this strong engagement.
08:20There was commitment
08:21from all 27 member states
08:24to do those amendments
08:28to our multi-annual
08:29financial framework.
08:30But do you have to wait
08:31until the Hungarian election?
08:32Is this now ultimately
08:33the elephant in the room
08:34whether he gets elected
08:35or not?
08:36Well,
08:37it has been said before
08:38that we will
08:39ensure this support
08:40one way or another.
08:42With or without Hungary?
08:43We expect,
08:44obviously,
08:45Hungary
08:45to honor its commitments
08:47which also
08:47Prime Minister Orban
08:48took in December
08:49last year
08:50and its force reminding
08:51that Hungary
08:52is not even paying
08:53for that support.
08:54Okay, well Commissioner
08:55thank you very much
08:55of course for joining us
08:57on Euronews this morning.
08:58Thank you so much.
08:59Now,
08:59thank you so much as well
09:01Maria today for that.
09:01Now, moving on
09:03as global instability
09:05continues
09:06the Strait of Hormuz
09:07of course
09:07has become
09:08in the eye of the storm
09:09but it's actually
09:09not the first time
09:11it's in the eye
09:11of the geopolitical storm
09:13as our Jakobianus reports.
09:16The narrow Strait of Hormuz
09:18despite being a waterway
09:19is starting to become
09:21a literal geopolitical landmine.
09:23A fifth of the world's oil
09:25flows here.
09:26For Washington
09:27any disruption
09:28means higher petrol prices
09:29and food inflation.
09:31A nightmare
09:32for the upcoming midterms.
09:34And for Iran
09:35the waterway
09:36is their ultimate leverage.
09:37Tehran has vowed
09:39not to allow
09:40even a single liter of oil
09:42reach its enemies.
09:43And in response
09:44the U.S. says
09:45it has destroyed
09:4616 Iranian
09:47mine-laying vessels.
09:49But hey
09:50we've been here already
09:51so who's up
09:52for a history lesson?
09:54Mines are the poor
09:55men's weapon
09:56of naval warfare.
09:58They are dangerously cheap
09:59and basic contact mines
10:01can cost as little
10:02as a few thousand dollars.
10:04Yet
10:05they can disable
10:06a billion dollar warship
10:07or a supertanker
10:08just in seconds.
10:10And during the
10:111980s
10:12Iran-Iraq war
10:13specifically
10:14the tanker war
10:15Iran filled
10:16the same waters
10:17with mines
10:18to halt
10:19Iraqi exports.
10:21And in 1988
10:22after a U.S. frigate
10:23was nearly sunk
10:24by an Iranian mine
10:26the Ronald Reagan
10:27administration
10:28responded firmly
10:29launching Operation
10:30Praying Mantis.
10:32Historians say
10:33that in a single day
10:34the U.S. Navy
10:35dealt a devastating blow
10:37to Iranians'
10:38operational fleet.
10:39the message
10:40was clear
10:41Mess with the oil
10:42and you will lose
10:43your navy.
10:44Because of disruptions
10:46in the straits
10:47Iraq
10:47which relies on oil
10:49for 90%
10:50of its revenue
10:51is now desperately
10:52exploring alternative routes
10:54through Syria
10:54Jordan
10:55and Turkey.
10:56And for Europe
10:57this crisis proves
10:58that swapping
10:59Russian oil
11:00for Gulf crude
11:01meant simply
11:02trading one dependency
11:03for another.
11:04So maybe
11:05it would signal
11:06a revival
11:07of decentralized
11:08green energy.
11:09After all
11:10if the climate
11:11argument becomes
11:12too polarizing
11:13it could be now
11:14about military
11:15and energy
11:16sovereignty.
11:21Jakob Janus
11:22reporting for us
11:23there.
11:23And as global
11:24instability
11:25continues to worsen
11:26particularly in Iran
11:27and the rest
11:27of the Gulf
11:28NATO has been
11:29carrying out
11:30military exercises
11:31in the high north
11:32and in Norway
11:32known as
11:33cold response
11:34it involves 14 NATO
11:36countries
11:36and for more
11:37Euronews correspondent
11:38Shona Marie
11:38joins us now
11:39from Norway.
11:40Well good morning Maeve
11:41we're here in the Arctic
11:42covering NATO's
11:43cold response
11:44military exercise
11:45which is part of
11:46the Arctic
11:47century military
11:48exercise
11:48which was agreed
11:49amongst allies
11:50back in January
11:51to deal with
11:52the political chaos
11:53that ensued
11:53at NATO
11:54when Donald Trump
11:55said he wanted
11:56to take over Greenland.
11:57We're stationed
11:57at a Norwegian
11:58coastal corvette
11:59which is the fastest
12:00military vessel
12:01in the world
12:02and all around us
12:03we have military
12:04personnel
12:05who are taking
12:06part in this exercise
12:07there's around
12:0725,000 soldiers
12:09from the United States
12:10from all across
12:11NATO alliance
12:12but what we heard
12:13in the last few days
12:14is at least one
12:15squadron of US
12:16Marine F-35s
12:18have been redirected
12:18from this exercise
12:19to the Middle East
12:20to deal with the
12:21conflict that is
12:22ongoing there.
12:23Now NATO is not
12:24a party to that
12:25conflict but
12:26in the last week
12:27Turkey has had to
12:28intercept two
12:29ballistic missiles
12:30coming from Iran
12:31so there are
12:31concerns in NATO
12:33that NATO could get
12:33dragged into the
12:34situation.
12:35In response
12:36NATO has delivered
12:37patriot defense systems
12:38to the southern part
12:39of Turkey
12:40and also has heightened
12:41its defense posture
12:43saying that they will
12:44defend the whole
12:45of the territory.
12:46But I caught up
12:46with a commander
12:47from the Norwegian
12:48Air Force
12:49and I asked him
12:50about NATO's
12:51readiness
12:51and capabilities
12:53both in the theater
12:54of the Arctic
12:54and in the Middle East.
12:56Well we need
12:57to be prepared
12:58for war
12:59so every day
13:00we are making
13:01sure that we are
13:02taking the right
13:04decisions
13:04so this base
13:05will be prepared
13:06for war
13:07and one thing
13:08is if the war
13:09comes we will
13:10fight it
13:11the other thing
13:12is if we are
13:13prepared enough
13:14we want Putin
13:16to wake up
13:16in the morning
13:17and say that
13:18maybe NATO
13:19is too prepared
13:20for a war today
13:21so we need to
13:22we need to
13:23postpone that.
13:24We've seen in the past
13:25weak ballistic missiles
13:26entering its
13:27Turkish airspace
13:28I mean
13:28how do you think
13:29that situation
13:30can escalate
13:31in relation to NATO?
13:32Well I don't think
13:33I want to go into
13:34details about
13:35the world situation
13:37but I can say that
13:38if Article 5
13:40is in effect
13:42then Norway
13:43is also in war
13:45even though
13:46the attack
13:47is somewhere else.
13:51Shona Murray
13:52reporting for us there
13:53now moving on
13:54in other news
13:55Ukraine is seeking
13:56support from
13:57the European Union
13:57to get their money
13:58and valuables
13:59back from the
14:00Hungarian government.
14:01Last week
14:02Prime Minister
14:02Viktor Orban
14:03seized cash
14:04and gold
14:04from a Ukrainian
14:05bank amid an
14:06ongoing tax
14:07authority investigation.
14:08Your news is
14:09Ukraine correspondent
14:10Sasha Vakalina
14:11is across this
14:11serious spat
14:12between Kyiv
14:13and Budapest
14:14and joins me
14:14now here on set.
14:16Sasha so we
14:16understand the
14:17staff have been
14:18released but what
14:18about the valuables?
14:19Indeed the
14:20staff have been
14:21released after
14:2128 hours
14:22being detained
14:23in Hungary
14:24and being
14:24interrogated
14:25in Hungary
14:26but the valuables
14:27the gold
14:28and the money
14:28and the shipment
14:29in total worth
14:30something like
14:3082 million dollars
14:32remains in Hungary
14:33and it's been
14:34exactly one week
14:35since now.
14:36This shipment
14:36was going from
14:37Austria to Ukraine
14:38by Hungary
14:39by road.
14:40The reason it was
14:41going by road
14:41is because of
14:42course the airspace
14:42in Ukraine
14:43remains closed
14:44for over four years
14:45since Russia's
14:46full-scale invasion
14:46of Ukraine
14:47and Ukraine's
14:48state-owned
14:49Oshchad Bank
14:50and also the
14:51National Bank
14:52of Ukraine
14:52are now trying
14:53to bring back
14:54that shipment
14:54of the cash
14:55and the gold
14:56back to Ukraine.
14:58Thank you so much
14:59for that
15:00and actually
15:00for the view
15:01from Ukraine
15:02we can now
15:02cross over to Kyiv
15:03and speak to
15:04Sergei Nikolakchuk
15:05first Deputy
15:06Governor
15:06from the National
15:07Bank of Ukraine.
15:08Good morning Sergei
15:09thank you so much
15:10for joining us
15:11here on Europe
15:11Today on
15:12Euronews.
15:13So we understand
15:14the Commission
15:14has received
15:15your official letter.
15:16Have you gotten
15:17a response yet?
15:24For European
15:26partners to ensure
15:27that this incident
15:28does not remain
15:29without an
15:30appropriate response
15:31our requests
15:33will be addressed
15:34to the EU
15:35High Representative
15:36for Foreign Affairs
15:37and Security Policy
15:40the leadership
15:41of European Commission
15:42Directorate General
15:44for FISMA
15:45European Central Bank
15:46Austrian National Bank
15:48and at this stage
15:50we are still
15:51awaiting
15:51former replies
15:54from our counterparts.
15:56And what kind
15:57of support
15:57does Kyiv want
15:58and expect
15:59from Brussels here?
16:02Well
16:02we expect
16:03an impartial
16:05and transparent
16:06review
16:07of this case
16:08with clear
16:09conclusions
16:10that would
16:10demonstrate
16:11in practice
16:12that European
16:14Union's
16:15commitment
16:16to the rule
16:16of law.
16:17It is important
16:18that the European
16:20Commission
16:20and other relevant
16:22EU institutions
16:23have full access
16:24to all necessary
16:25information
16:25and documentation
16:27in order to provide
16:28their own
16:29independent assessment
16:30of the actions
16:31taken by
16:32the Hungarian side.
16:34From our side
16:36we are still ready
16:36to provide
16:37any information
16:38required to cooperate
16:40fully with the European
16:41partners.
16:42And tell us about
16:43the direct contact
16:44between Kyiv
16:45and Budapest.
16:46How is that going here?
16:48Communication
16:49with the Hungarian side
16:51is being handled
16:53by our Ministry
16:54of Foreign Affairs
16:55which is leading
16:56the efforts
16:57to resolve
16:58the situation
16:59through diplomatic
17:00channels.
17:00also
17:01Oshad Bank
17:03together
17:03with its
17:04legal advisors
17:05is working
17:06to clarify
17:07all circumstances
17:08of the case
17:09and remains
17:10in contact
17:11with the Hungarian
17:12authorities
17:12with the aim
17:14of resolving
17:14the issue
17:15of the cargo
17:16and as well
17:17as ensuring
17:17the protection
17:18of the rights
17:19and interests
17:20of the financial
17:21institutions
17:22and its employees.
17:24From the NBU
17:25side
17:25from the NBU
17:27we facilitate
17:28all these efforts.
17:30and just on that
17:31point of clarification
17:32how routine
17:33is this kind
17:33of cash
17:34and property
17:34transport
17:35to other countries?
17:37Well
17:37that is
17:38the regular
17:39and common
17:41practice
17:41to transport
17:42cash
17:44from Austrian
17:45from Austrian
17:46Raiffeisen Bank
17:48to Ukraine
17:49by Oshad Bank
17:51and many
17:52other countries.
17:53Actually
17:54yes
17:55so we reviewed
17:56and we may
17:57confirm
17:58that the cargo
17:59has been
18:00properly documented
18:01we see
18:03no irregularities
18:04in the practice
18:05of international
18:06transportation
18:07of cash
18:08between banks
18:08and actually
18:11it is also
18:12important to note
18:13that Raiffeisen
18:14Bank International
18:15which is one
18:16of the main suppliers
18:17of FX
18:18cash to Ukrainian
18:19banks
18:19confirmed
18:20in its statement
18:21that it had
18:22provided the relevant
18:23authorities
18:24with all required
18:25documentation
18:26related to
18:27these cash
18:28management operations.
18:29So how would you
18:30describe the whole case?
18:31Do you consider it
18:32a confiscation?
18:34Well
18:35from our point
18:36of view
18:36the actions
18:37are taken
18:37by the Hungarian
18:38authorities
18:39raise serious
18:40concerns
18:40and suggest
18:41that this case
18:42goes beyond
18:43purely procedural
18:44or security
18:46related issues.
18:47From the very
18:48beginning
18:48the sequence
18:49of events
18:50has indicated
18:50that the situation
18:51has a political
18:52dimension
18:53rather than
18:54being a standard
18:55legal
18:56or regulatory
18:57matter.
18:58The facts
18:59speak
19:00for themselves.
19:03Okay Sergei
19:04Nikolai Chuk
19:04thank you so much
19:05for joining us
19:06here this morning
19:06on Europe Today
19:07on Euronews
19:08for more of course
19:09on that story
19:10and on that
19:10ongoing investigation
19:11do take a look
19:12at Sasha Bakalina's
19:13reporting
19:13and of course
19:14Chandr Zeros
19:15our Hungarian
19:15reporter
19:16his reporting
19:16as well
19:17on Euronews.com
19:18but that does
19:19bring this edition
19:20of Europe Today
19:21to an end.
19:21thank you so much
19:22for your company
19:22as always
19:23we'll be back
19:24of course
19:24tomorrow Friday
19:25bright and early
19:26here on Euronews
19:27with the fresh edition
19:27of Europe Today
19:28don't miss it.
19:51on Euronews
19:52on Euronews
19:53on Euronews
20:00on Euronews
20:01on Euronews
20:02on Euronews
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