The Hungarian government has announced that foreign drivers will no longer be allowed to gas up at reduced rates amid an explosive rise in prices and looming shortages in Europe. In an effort to prevent ‘fuel tourism’ in Hungary, which has some of the lowest prices in the European Union, non-Hungarians will not be allowed to take advantage of state-regulated rates anymore. “Foreign... 

The Fed has barely started raising interest rates but the air is already seeping out of the housing bubble. New single-family home sales plunged by 16.6% from March and were down 26.9% year on year. New home sales dropped to the lowest level since the lockdown in April 2020. New home sales are often viewed as a leading indicator of the state of the overall housing market. The unsold inventory of new... 

Governor Gavin Newsom has pushed for conservation during his recent visit to a Southern California water recycling facility. The government is set to mandate water, food and energy rations, leaving Californians unable to heat or cool their houses throughout the year. They have done this rationing before in California, but it isn’t clear how bad it’s going to get this time. Moreover, gas prices... 

The move comes after Finland’s state energy company failed to comply with Moscow’s ruble payment demand Russia has halted natural gas deliveries to Finland after state energy wholesaler Gasum failed to make a required payment in rubles, the Finnish gas system operator Gasgrid Finland said on Saturday. “Gas imports through Imatra entry point have been stopped,” the statement read. Russia’s... 

A $40.1 billion aid package to help arm the Ukrainian military and provide economic and humanitarian relief is on its way to President Joe Biden’s desk roughly three weeks after he asked Congress for another emergency cash infusion. The Senate voted 86-11 Thursday to clear the supplemental funding bill, with all of the “no” votes coming from Republicans. Biden is expected to sign the measure... 

Romania is halfway through the legislative process of approving the Neptun-Deep offshore gas platform in the Black Sea, but it will take years and billions of dollars for production before any measurable difference in the country’s energy balance is achieved, analysts have warned. The Romanian Senate adopted on Wednesday the legislative proposal to amend the Offshore Law, which regulates the oil... 

Skyrocketing food prices worldwide are the result of Russia pursuing a hybrid war strategy, German Foreign Minister Annalena Baerbock claimed on Saturday following a G7 meeting. However, Moscow immediately hit back by blaming Western sanctions for the spike. “Russia made a conscious decision to turn the war against Ukraine into a ‘grain war,’” the German minister insisted. This, she alleged,... 

The Croatian parliament has approved a law on adopting the euro on January 1, 2023. Lawmakers voted 117-13 in favor of replacing the kuna with the European single currency. Under the legislation, prices in Croatia will be displayed in both currencies from September this year, and used in parallel throughout next year. The government says the adoption of the euro should remove currency risk, reduce... 

‘Millions’ could die because of the pandemic and the ongoing military action in Ukraine, Berlin’s development minister believes. The world is about to face an acute food crisis due to skyrocketing food prices, German Economic Cooperation and Development Minister Svenja Schulze told the Bild newspaper on Saturday, warning about a looming famine not seen since World War II. The minister has... 

EU ambassadors have so far failed to reach an agreement on a new package of sanctions against Russia, as Hungary continues to oppose a ban on Russian oil imports, Bloomberg reported on Sunday, citing sources familiar with the talks. The EU has already come up with five rounds of sanctions, which are being imposed in response to Moscow’s ongoing military offensive in Ukraine. Earlier this week the... 

Multiple analysts at Chinese state-linked think tanks and banks have weighed in on the Biden administration’s recent threats to punish the world’s second-largest economy over China’s refusal to condemn Russia’s war in Ukraine, and amid US charges that it could be helping Moscow evade sanctions, or even quietly resupplying Putin’s military machine (charges which at this point have remained... 

Consumer prices in Turkey soared by 69.97% in April compared to the same month last year, according to official data released on Thursday. Inflation has soared amid rising energy prices against the backdrop of the Russia-Ukraine war and due to a lira crash late last year. The figure, released by the Turkish Statistical Institute, exceeded the central bank’s estimate of 68% and represents the steepest... 

Elon Musk is said to have told lenders he’ll slash executive pay at Twitter and monetize tweets to make the firm more profitable before buying it for $44 billion. Musk is said to have made the vow to banks before securing funding to buy the firm, with the deal announced Monday. Currently, Twitter spends about $2.9 million in cash and stock awards to board members, according to a filing. But... 

Processing meat on your own property in the U.S. can now lead to jail time, as has been proven by an Amish man from Pennsylvania who has been threatened with a hefty prison sentence and issued a whopping $250,000 fine for doing just that. Who owns the meat you buy? The US government, apparently. Amos Miller says he is being persecuted by the Biden administration for practicing his religious freedom... 

After confirmation that Elon Musk had bought Twitter in a $44 billion deal, founder Jack Dorsey praised the entrepreneur for “taking it back from Wall Street”. Following Musk’s purchase of the social media network, which prompted a deluge of hysteria from censorship-happy leftists, Dorsey outlined his response in a lengthy tweet thread. “Elon’s goal of creating a platform that is ‘maximally...