Greece becomes US energy gateway
The US has designated Greece as a central partner in its strategy to replace Russian natural gas in Western Europe with American liquefied natural gas (LNG), US officials said Thursday at the opening of the Transatlantic Energy Cooperation (P-TEC) meeting in Athens. The two-day conference opened with the signing of an agreement between ExxonMobil, Energean, and Hellenic Energy, granting Exxon a 60 percent stake in Greece’s offshore “Ionio 2” block. In a video message posted on social media, Prime Minister Kyriakos Mitsotakis called the deal “historic.”
https://www.ekathimerini.com/politics/foreign-policy/1286025/greece-becomes-us-energy-gateway
Ankara dismisses Eurofighter use conditions
Turkey has flatly denied reports that its purchase of 20 Eurofighter aircraft comes with restrictions preventing their use against NATO allies like Greece, despite German assurances to the contrary.
Greece-Cyprus-Israel gas pipeline back on the table, Israeli minister says
Plans for a natural gas pipeline linking Israel’s offshore reservoirs to Europe are back under consideration, according to Israeli Energy and Infrastructure Minister Eli Cohen, following a high-level meeting in Athens with counterparts from Greece, Cyprus and the United States.
Pierrakakis to ERTNEWS: Hellenic Post has to be restructured so it can continue to fulfill its social role
Economy and Finance Minister Kyriakos Pierrakakis on Thursday touched on the issue that has arisen with the closure of hundreds of Hellenic Post (ELTA) branches, the devastating fire in Mati and the overall course of the Greek economy during a sweeping interview with journalist Giorgos Kouvaras on the public broadcaster’s news channel ERTNEWS and the television programme ‘Sto Kentro’.
ATHEX: MSCI shake-up rattles local stock market
Stocks at Athinon Avenue headed south on Thursday, with the corporate results announced apparently not whetting traders’ appetite for purchases in a climate of high volatility.
https://www.ekathimerini.com/economy/1286009/athex-msci-shake-up-rattles-local-stock-market
KATHIMERINI: ExxonMobil is reinforcing its presence in Greece
TA NEA: Drilling in the Ionian Sea
EFIMERIDA TON SYNTAKTON: No more bloodshed in Crete
RIZOSPASTIS: The government is unsuccessful in hiding the theft of simple folks’ income
KONTRA NEWS: New turbulence within New Democracy due to Deputy Prime Minister and Minister of State Hatzidakis
DIMOKRATIA: Daily hazard of a new rail-crash similar to that of Tempi
NAFTEMPORIKI: Greek hydrocarbons surface
DRIVING THE DAY: RUSSIA’S FROZEN ASSETS
RACE TO REASSURE BELGIUM ON RUSSIAN ASSETS: Top European Commission officials huddle with Belgian leadership this morning in a bid to win their support to unfreeze some €140 billion in frozen Russian assets, as the clock ticks down to a deadline early next year for keeping Ukraine financially afloat.
Trust us: Senior officials from the Commission’s budgetary and economic departments will try to reassure Prime Minister Bart De Wever’s government, which faces its own financial crunch, that it won’t be left on the hook for reimbursing Russia if Moscow mounts a successful legal challenge to the asset seizure, POLITICO’s Bjarke Smith-Meyer, Camille Gijs, Gregorio Sorgi and Giovanna Faggionato report in this must-read piece.
Meetings upon meetings: One EU official said Friday’s meeting was one of many taking place in coming days as Brussels races to unfreeze the Russian assets.
Brussels in the spotlight: The Friday morning huddle will be the latest attempt by the European Commission to assuage Belgium’s concerns after De Wever blocked a decision to unfreeze the assets at the last meeting of EU leaders in Brussels last month.
Avoiding the cliff: Time is running out for the EU to find a solution as Ukraine will require a cash injection by the end of February next year, and Europe is Kyiv’s best hope for a financial lifeline. The alternative to using frozen assets is for European countries to raise money jointly for Ukraine — a non-starter for many debt-laden states.
Welcome to Belgium: But the push to mobilize Russia’s assets is running headlong into a Belgian political drama. De Wever has threatened to resign if parties in his ruling coalition fail to clinch a budget deal that delivers on his promise to slash €10 billion in spending.
De Wever stays put: After meeting with King Philippe on Thursday, the prime minister announced that he would remain in his job and that he had obtained a 50-day extension on his quest to strike a deal. But the Flemish nationalist leader warned that this “maximum period” would not be extended.
Time flies: The 50-day deadline comes up on Dec. 26 — after the next meeting of EU leaders on Dec. 18-19. If Brussels digs in its heels, the EU would still have a few more weeks to come up with a solution. But the risk of failure rises exponentially in the joint-debt scenario.
Struggle everyday: “The longer we now run delays, the more challenging it will become,” Economy Commissioner Valdis Dombrovskis told reporters on the margins of a conference in Sofia this week. “It may open questions on some possible bridging solutions or so. So sooner is better.”
Vultures circling: Adding to the tension, Belgium has been shaken by reports of drones flying over airports and military installations, in what some local media outlets have speculated could be an intimidation tactic linked to the frozen asset debate. The Belgian army has received orders to shoot down drones over military bases, but civilian infrastructure like airports remains vulnerable. (Flights into Brussels Airport were disrupted again last night after unconfirmed reports of drone sightings, Reuters reports … and Sweden’s second-biggest airport, in Gothenburg, also had a drone scare.)
The bottom line: The EU has been here before. A decision to use the frozen assets as the basis for a €50 billion loan for Ukraine also came down to the wire in 2024. But the stakes are much higher now given the absence of any other major benefactors for Ukraine. Europe is being put to the test as never before.
MEANWHILE, IN WASHINGTON: Hungarian Prime Minister Viktor Orbán is visiting his political ally President Donald Trump on Friday, and both my Stateside colleagues and the AP reckon his priority will be convincing the U.S. to exempt Hungary from recently imposed sanctions on Russian oil and gas companies. The pair’s chummy relationship could help Orbán achieve his goal, but it would amount to a major carveout of Trump’s sanctions against Russia — and be a symbolic setback for European leaders keen to present a united front against Moscow.
Sanctions fallout: Swiss-based trading house Gunvor said late Thursday it was withdrawing its offer to buy the international assets of Russia’s largest private oil firm, Lukoil, after the U.S. said it would “never” approve the deal. Victor Jack has the story.
PLAYBOOK INTERVIEW
KYIV RAMPING UP ANTI-CORRUPTION EFFORTS: Ukraine scored high marks in the Commission’s enlargement reports this week, which noted big strides toward EU alignment despite an ongoing war — but Brussels still found “limited progress” in fighting corruption over the past year.
Speaking to Playbook, Ukraine’s Deputy Prime Minister Taras Kachka said it was “absolutely natural” for the EU to zoom in on anti-corruption efforts, since “this is a question to all beginning states.”
Glass half-full: Kachka, in charge of European and Euro-Atlantic integration for Ukraine, said that even “limited progress” was good news for Kyiv, vowing that ongoing efforts to hire judges and stabilize anti-corruption bodies would lead to “pretty good progress in the next report.”
By the numbers: Ukraine’s National Anti-Corruption Bureau of Ukraine (NABU) — one of two watchdogs at the center of a furor over the summer — had opened 560 investigations, while prosecutors have sent 97 indictments to court. The prosecutions relate to 212 people and cover the loss of about 20 billion Ukrainian Hryvnia, or about €413 million. Ukraine’s High Commissioner of Justice had also named 45 judges and sent them to the president’s office for confirmation, Kachka said — in keeping with Brussels’ demand to “accelerate” the pace of judicial hires.
Stand back: Ukraine’s fight against corruption is a key focus of its push to join the EU — and a favorite theme for the country’s critics. Former Commission President Jean-Claude Juncker angered Kyiv when he called Ukraine “totally corrupt” in 2023, echoing criticism shared by some EU diplomats in private.
Climbing the mountain: Kyiv is working to implement more than 500 anti-corruption measures — a process that would take “several years” to complete, Kachka said. But he underscored that Ukraine was “accelerating” its work, vowing to “complete the legislative base and increase the quality and stability … of all institutions and law enforcement agencies.”
Eyes on 2030: Ukraine still considers that completing EU membership talks in 2028 and becoming a full EU member by 2030 are “absolutely realistic” goals, Kachka said. (ICYMI: Top EU diplomat Kaja Kallas noted on Wednesday that the bloc could be ready to welcome new members by 2030).
On both enlargement and EU financial for Ukraine, Kachka said Kyiv was focusing its diplomatic efforts on Hungary. “It’s absolutely clear that in the context of accession to the European Union, the biggest bilateral effort is with Hungary,” he said, adding that he was less concerned about Czechia, where he said that “society supports Ukraine.”
THE SELMAYR SAGA
SELMAYR’S BOGUS ADVENTURE: The German civil servant who once ran the European Commission with an iron grip looks set to stay in Rome for the foreseeable future. Opposition at the top of the Commission has sunk Martin Selmayr’s bid for a senior job at the External Action Service, according to three officials granted anonymity to talk about the backroom dealings.
So close, yet so far: In an essential piece out today, Gabriel Gavin, Ben Munster, Hannah Roberts and Hans von der Burchard report that “clumsy politicking” ultimately torpedoed Selmayr’s prospects of nabbing the role under Kaja Kallas.
Trial balloon: His attempt to return to Brussels came to a head during a College meeting on Oct. 21, where allies of Ursula von der Leyen suggested Selmayr be offered the job of special envoy for religious freedoms. “This was a way to say OK, if he wants to come back to Brussels, here’s how you do it,” said one of the EU officials.
Last offer: However, at a College of Commissioners meeting earlier this week, Selmayr was not put forward for the role of religious freedom envoy either. “This was the only job open to him,” said the official. “If he doesn’t want that, he stays in Rome.”
To the Vatican and beyond: My colleagues’ piece today gives the definitive account of how Selmayr has managed to ruffle feathers — and win admirers — even in the Vatican, and keep Brussels on its toes years after he officially left town. Read the full story here.
BUDGET BATTLES
EU AMBASSADORS REVISE MFF LINES: EU ambassadors will today discuss the bloc’s next seven-year budget to present a united front ahead of a crunch meeting on Monday, Gregorio Sorgi writes in to report.
Monday blues: The planned meeting between Ursula von der Leyen, European Parliament President Roberta Metsola and representatives from the Danish Council presidency is aimed at defusing tensions ahead of a plenary session of the European Parliament next Wednesday. MEPs are threatening to reject the Commission’s blueprint for the next budget if their key demands are not met — which would spell serious trouble for von der Leyen.
What the Council thinks: Most countries publicly say Parliament should back off because it plays second fiddle to national governments in the budget negotiations. But don’t be fooled by appearances. Many states that dislike the Commission’s proposal privately share Parliament’s concerns on the role of regions and farmers and would be happy to see their suggested changes come to fruition.
What Parliament wants: Parliament’s pro-European majority wants to water down a controversial plan to lump together agricultural and regional funds, which together make up around half of the budget, and strengthen their oversight on funding. The right-wing European Conservatives and Reformists (ECR) — which is outside the pro-EU bloc — backed these arguments last week in a letter to von der Leyen seen by Playbook.
Ursula’s whip: MEPs are waiting to see what the Commission has to offer. For the time being, von der Leyen’s priority is to shore up support within her own European People’s Party (EPP), which came up with idea of rejecting the budget plan in the first place. Team von der Leyen is calling EPP lawmakers one by one to persuade them to back down, two Parliament officials told Playbook. But a senior MEP said the Commission’s tactics to “divide and conquer” are doomed to fail.
SPOTLIGHT ON SHEIN
FRANCE TURNS SCREWS OVER SHEIN: France is demanding that the Commission take action against Chinese e-commerce platform Shein over the sale of sexualized child dolls and weapons.
Brussels’ reply? It’s complicated.
Dispatch from Shanghai: Rule of Law Commissioner Michael McGrath — who’s in China for this reason — told Playbook he was “following the developments in France closely,” adding that the Commission is in ongoing contact with the French authorities over their push to sanction Shein. (McGrath is also meeting with the president of Temu, another e-commerce site in European crosshairs, in Shanghai today at the end of a week-long trip.)
Shocked: “As Commissioner and as a parent, I was shocked and repulsed to learn that childlike sex dolls were available on the platform,” McGrath added.
Maybe yes, maybe no: A Commission spokesperson said Brussels is taking France’s concerns “very seriously,” but declined to say whether the outrage would lead to a formal probe under the Digital Services Act. “Under the DSA, we don’t target individual sellers or products — our focus is the platforms,” the spokesperson stressed.
Rewind: France is threatening to escalate by launching a formal suspension procedure that could block Shein’s operations in France until it proves compliance with national law, just as the company opened its first physical store, in Paris.
Blind spot: According to Dirk Gotink, an EPP lawmaker and rapporteur on the reform of the EU’s Customs Code, the problem is that the DSA offers platforms limited liability for products sold on their sites. “If they want full compliance of all products [with EU standards], we need to change the legislative framework.”
Instead, Gotink said a reform of the EU’s Customs Code was needed to close liability loopholes in the DSA and General Product Safety Regulation. “Huge amounts of non-compliant goods come into the EU market for which de-facto nobody is responsible,” he wrote to Playbook. His proposed fix: forcing any supplier from a third country to set up a representative inside the EU who would be liable for financial and non-financial compliance with EU law.
Remember him? Fun fact: Shein’s man in Europe is none other than Günther Oettinger, the former EU budget commissioner and legendary gaffeur. He joined the company as a consultant in mid-2024 to help navigate Brussels’ regulatory thicket, Gerardo Fortuna reminds us.
LISTEN UP — EUROPE’S DIGITAL DILEMMA: An estimated 62 percent of all child sexual abuse material found online last year was hosted on servers within the EU. Yet Brussels can’t find agreement on how to fight it, amid fears of online surveillance. In this week’s episode of the EU Confidential podcast top POLITICO tech reporters in Brussels and Paris consider why it’s so hard to protect kids online, especially in light of the Shein sex doll scandal. Plus, Gordon Repinski talks to Albanian Prime Minister Edi Rama about AI Minister Diella and the future of government. Listen and subscribe here.
IN OTHER NEWS
KEEPING MELONI ONSIDE: The Commission appears to be slow-walking a decision to take action against Italy over its controversial use of national security powers to stall a major banking merger, my financial services colleagues hear.
WARNING FROM EXILE: Top Kremlin critic Mikhail Khodorkosvky reckons a second Cold War with Russia is looming regardless of the outcome of Moscow’s assault against Ukraine and could last for at least a decade.
NOT A TYPO: Tesla shareholders approved a pay package for Elon Musk worth as much as $1 trillion. Bloomberg has the details.
MIDDLE EAST LATEST: Israel carried out heavy airstrikes on southern Lebanon on Thursday, claiming Hezbollah was trying to rebuild its military presence there … and Donald Trump said Iran has asked the U.S. to lift its sanctions against the country.