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Western draft resolution: We affirm our support for a diplomatic solution to the problems posed by the Iranian nuclear program.
Draft: Iran must urgently address its non-compliance with the safeguards agreement by taking all steps the Board and the Agency deem necessary.
Draft: Iran's provision of this information, access to it, and subsequent verification by the IAEA are essential.
Draft project: Iran should provide access to sites and materials requested by the Agency and take samples as the Agency deems appropriate.
Western draft resolution: Iran must inform the agency of the current locations of contaminated nuclear materials and equipment.
Draft: The Director-General is requested to submit a new report containing any further developments on the issues raised in the resolution.
Draft: The Director-General of the Agency is requested to continue his efforts to implement this resolution (the Western draft) and previous resolutions.
Draft: The Agency is unable to verify that the diversion of nuclear material required to be guaranteed into nuclear weapons or nuclear explosive devices has not occurred.
Western draft resolution: Failure to cooperate with the agency represents a major obstacle to the agency's ability to verify the peaceful nature of Iran's nuclear program.
Western draft resolution: Iran has failed to provide the agency with technically credible explanations for the presence of uranium particles of human origin at undeclared sites.

EU to establish hydrogen bank with $3 billion fund

  • By Al-Mayadeen English
  • Source: Agencies & Al-Mayadeen
  • 14 Sep 2022 19:38
3 Min Read

EU aims to lead in clean hydrogen economy.

  • x
  • EU Chief Von der Leyen
    EU Chief Von der Leyen

European Commission President Ursula von der Leyen stated on Wednesday that the EU is set to establish a hydrogen bank with a $3 billion fund to invest in the hydrogen market.

"Today I will be announcing that we have created a new European hydrogen bank," Von der Leyen stated. "This will help to guarantee the supply of hydrogen, using money from the innovation fund. We will be able to invest 3 billion euros to help to construct a future hydrogen market," she added during her annual State of the EU address.

The European Commission adopted in 2020 a hydrogen strategy that aims to position the EU as a world leader in a clean hydrogen economy.

“Hydrogen has a huge potential going forward. It is an indispensable component for the diversification of energy sources and the green transition," stated EU Competition Commissioner Margrethe Vestager on July 15.

While the strategy was announced in 2020, the EU's sanctions on Russia following the war in Ukraine, which led to energy shortages and extreme price hikes in the member states, have put the EU on a fast track to diverse energy sources, including hydrogen.

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Russia blames NATO expansion for collapse in Euro-Atlantic trust

So far, the EU's attempts to manage the economic crisis following the confrontation with Russia show no signs of fast enough effectiveness, as a study conducted by the European Trade Union Confederation (ETUC) revealed a few days ago that low-income Europeans cannot afford energy bills.

"When your bill costs over a month's wages, there's no clever money-saving trick that will make a difference," ETUC Deputy General Secretary Esther Lynch said in a statement, adding, "These prices are now simply unaffordable for millions of people."

Euro slides to a 20-year low against the dollar

On September 5, the euro dropped 0.70% to 0.9884 dollars, its lowest level since December 2002, after losing parity for the first time in 2 decades last July.

Prices all over Europe have been inflated by almost 400% due to the restricted gas flow from Russia, with expectations that they increase further after Moscow went back on its decision to continue pumping gas through Nord Stream 1 to Germany due to maintenance issues.

Surging costs of power linked to gas prices have already stunted the production of various industries, such as fertilizers and aluminum manufacturers, and prompted EU governments to increase their spending by billions in order to help their citizens.

Read more: EU might label gas, nuclear energy as 'green'

  • European Union
  • energy
  • Clean Energy
  • Russia

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