Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Lebanese Health Ministry: 1 woman martyred, 11 wounded in Israeli strike on residential apartment in Nabatieh, South Lebanon.
Al Mayadeen's correspondent: Four civilians injured in Israeli strike that targeted house in Nabatieh al-Fawqa, South Lebanon.
Al Mayadeen's correspondent in South Lebanon: Israeli warplanes launch strikes on regions of al-Mahmoudiyah, al-Khardali
Al Mayadeen's correspondent in South Lebanon: Israeli aircraft execute series of strikes in Kfar Tibnit, South Lebanon.
Iranian ambassador in Beijing to Al Mayadeen: We hope that Europe and the US give up their illegal actions and authoritarian hegemony.
Al Mayadeen's correspondent: Israeli shelling targets displaced persons' tent in Al-Mawasi, Khan Younis, casualties were reported
IOF storm Jalazone camp, north of Al Bireh city in the occupied West Bank
Israeli media: A severe incident reported in Gaza some time ago
Israeli media: Military evacuation helicopters are transporting injured soldiers from Khan Younis
Israeli media: A security incident has been reported in Khan Younis, southern Gaza Strip

Next winter to be worse than 2022's for Europe: IMF

  • By Al Mayadeen English
  • Source: Agencies
  • 11 Oct 2022 22:22
  • 1 Shares
3 Min Read

Europe's upcoming winter will sure be difficult, but the one right after it will make it pale in comparison.

  • x
  • Europe's energy crisis will plunge the continent into a cold winter
    Europe's energy crisis will plunge the continent into a cold winter

Europe is going up against a very challenging winter this year; however, the next one will be even worse, International Monetary Fund (IMF) Chief Economist Pierre Olivier Gourinchas said Tuesday as Europe is up against the ropes in terms of energy prices.

"Winter 2022 will be challenging, but winter 2023 will likely be worse," Gourinchas told reporters.

The chief economist also argued that Europe's energy crisis was not a transitory shock, energy supplies' geopolitical realignment is especially broad and permanent.

He pinpointed various policies used by Europe, such as price controls, targeted subsidies, and export bans, and explained that they could lead to additional increases in prices and inflation. "They rarely work," Gourinchas stressed.

The Organization of the Petroleum Exporting Countries (OPEC)'s member states voted on Wednesday on cutting their production of oil and agreed to reduce their oil production by 2 million barrels a day in light of the world's surging energy crisis.

Related News

EU plans WTO alternative as Trump escalates tariffs: FT

EU leaders decry Gaza humanitarian crisis as 'catastrophic, abhorrent'

As the global economy grapples with various challenges, he said, and with "policymakers continuing to normalize policy to tame high inflation, there is a risk of a disorderly tightening of global financial conditions that may be amplified by vulnerabilities built over the years."

After months of debate, the EU reached an agreement to impose a price cap on Russian oil sales to third countries in an attempt to block Moscow's use of EU-registered vessels for its oil exports, all while excluding pipeline deliveries from the 8th round of sanctions on Russia, Politico Europe reported on Tuesday.

The agreement was reached despite the opposition of Cyprus, Malta, and Greece, which had previously voiced their concern on the matter due to its impact on the shipping industry in the countries and have been promised concessions by Brussels that proposed measures induced through a "monitoring system" to help ease the effects of the embargo that might emerge as a "significant loss of business" if commercial vessels were to resort to reflagging.

This comes as data from the Gas Infrastructure Europe (GIE) association show that in September, the rate of gas injection into European underground gas storage facilities (UGS) decreased by about 30% to 0.25 percentage points per day.

Gas injection average rates into the European UGS comprised 0.45 percentage points in May, 0.37 percentage points in June, 0.36 percentage points in July, and 0.37 percentage points in August.

Typically, mid-October is when Europe's heating season is expected to begin, albeit it was delayed until November the previous year, which means that the upcoming period will be notably harsh for Europe.

  • Europe
  • International Monetary Fund
  • Russia
  • Ukraine
  • European Union
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

Iranian President Masoud Pezeshkian attends a protest following the US attacks on nuclear sites in Iran, in Tehran, Iran, Sunday, June 22, 2025. (AP)

Iran declares victory as ceasefire forces Israeli retreat

  • Politics
  • 24 Jun 2025
Israeli workers survey the site where a missile launched from Iran struck in Haifa on Sunday, June 22, 2025. (AP)

True Promise 3, wave 20: 40 missiles launched, Kheibar-Shekan in first

  • Politics
  • 22 Jun 2025
Iran launches strikes on Israeli targets, despite alleged ceasefire

Iran victorious as ceasefire with 'Israel' takes effect

  • Politics
  • 24 Jun 2025
Iranian worshippers carry their country's flags in a protest to condemn Israeli attacks on multiple cities across Iran, after the Friday prayers ceremony in Tehran, Iran, Friday, June 20, 2025. (AP)

Iran warns of NPT withdrawal, Strait of Hormuz closure after US attack

  • Politics
  • 22 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The commander of the Quds Force's Palestine Unit, Brigadier General Mohammad Said Izadi (Illustrated by Mahdi Rtail for Al Mayadeen English)
Politics

Who was Mohammad Said Izadi, head of the Quds Force's Palestine Unit?

Hezbollah's now-Secretary-General Sheikh Naim Qassem speaks during an interview with The Associated Press in Beirut's southern suburbs, Lebanon, July 2, 2024 (AP)
Politics

Sheikh Qassem praises Iran resilience in face of 'Israel', US

Al Houthi: Overthrowing Islamic Republic impossible
US & Canada

Sayyed Al Houthi: Overthrowing Islamic Republic of Iran impossible

Reproductive violence used as genocide tool in Gaza: UN
Politics

Reproductive violence used as genocide tool in Gaza: UN

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS