June 2022

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June 2022

June 2022

MAIN TAKEAWAY OF THE MONTH

While the Russian offensive in Donbas continues, Moscow’s forces appear to be achieving minimal progress at a high cost. Russia confirmed its withdrawal from the strategic location of Snake Island in the Black Sea on June 30th, but the embargo of Ukrainian ports remains, forcing Kyiv to seek alternate routes through Poland and Romania. Although the Romanian port of Constanța has become an important transit point for Ukrainian grains, shipping attempts are nevertheless hampered by technical challenges. Meanwhile, the European Union has officially given candidate status to both Ukraine and the Republic of Moldova. With expensive energy sources and the impact of Russian gas sanctions, countries are seeking for alternative solutions to ensure or diversify their supplies. Romania, one of the region’s least reliant countries on Russian gas, is launching production of natural gas collected from the Black Sea. Other nations, such as Croatia, are trying to enhance their LNG supplies to help the economy and households. In the Balkans, Bulgaria’s PM Kiril Petkov’s government has been ousted, and the feasibility of a new working coalition is doubtful. Meanwhile, Bulgaria has lifted its veto on the start of accession discussions with North Macedonia. Tensions between Greece and Turkey also remain high, exacerbated by ongoing disputes in the Aegean Sea.

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