MAIN TAKEAWAY OF THE MONTH
This month has seen new developments in the Russo-Ukrainian war, with the Ukrainian Army actively targeting logistical objectives, particularly in Kherson Oblast and Crimea. In addition, with the assistance of the international community, Ukraine has resumed its maritime exports of crops and agricultural products. Meanwhile, military tensions have risen around the Zaporizhzhia Nuclear Plant, with Europe fearing a nuclear disaster. The European energy sector has been severely affected by the conflict in Ukraine, considering the impact of Western sanctions on Russia, and the severe drought across the continent. Some European countries are considering financial assistance policies in their attempt to fight back rising energy prices, while others are looking at policies meant to cut down gas consumption. An extraordinary meeting of European energy ministers will be held in Brussels during the following month to discuss options for fighting the energy crisis.
In the Balkans, Serbia and Kosovo continue to fight over vehicle license plates and identity documents, Serbia, Albania, and North Macedonia have agreed to assist each other in energy matters as part of the Open Balkans Forum. At the same time, North Macedonia has declared a 30 days nationwide state of emergency in electricity supply starting Sept. 1, joining Kosovo who has done the same the last month – for 60 days.