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resident Donald Trump (R), French President Emmanuel Macron (L) and German Chancellor Angela Merkel (C) chat at the start of the first working session of the G20 meeting in Hamburg, northern Germany, on July 7, 2017.

European Commission preparations to retaliate against proposed new U.S. sanctions on Russia that could affect European firms are likely to face resistance within a bloc divided on how to deal with Moscow, diplomats, officials and experts say.

A bill agreed by U.S. Senate and House leaders foresees fines for companies aiding Russia to build energy export pipelines. EU firms involved in Nord Stream 2, a 9.5 billion euro ($11.1 billion) project to carry Russian gas across the Baltic, are likely to be affected.

Both the European Union and the United States imposed broad economic sanctions on Russia's financial, defense and energy sectors in response to Moscow's annexation of Crimea from Ukraine in 2014 and its direct support for separatists in eastern Ukraine.

But northern EU states in particular have sought to shield the supplies of Russian gas that they rely on.

Markus Beyrer, director of the EU's main business lobby, Business Europe, urged Washington to "avoid unilateral actions that would mainly hit the EU, its citizens and its companies".

The Commission, the EU executive, will discuss next steps on Wednesday, a day after the U.S. House of Representatives votes on the legislation, knowing that the U.S. move threatens to reopen divisions over the bloc's own Russia sanctions.

Among the European companies involved in Nord Stream 2 are German oil and gas group Wintershall, German energy trading firm Uniper, Anglo-Dutch Royal Dutch Shell, Austria's OMV and France's Engie.

The Commission could demand a formal U.S. promise to exclude EU energy companies; use EU laws to block U.S. measures against European entities; or impose outright bans on doing business with certain U.S. companies, an EU official said.

But if no such promise is offered, punitive sanctions such as limiting the access of U.S. companies to EU banks require unanimity from the 28 EU member states.

Ex-Soviet states such as Poland and the Baltic states are unlikely to vote for retaliation to protect a project they have resisted because it would increase EU dependence on Russian gas.

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EU divided on how to answer new US sanctions against Russia - CNBC

Nathalie Loiseau, Minister for European Affairs, met today with Catherine Trautmann, Former Minister of Culture and MEP, President of the Strasbourg The Seat Task Force aimed at promoting Strasbourg as the seat of the European Parliament.

A few days after Nathalie Loiseaus visit to Strasbourg on July 5, during which she defended the seat of Strasbourg, this meeting provided an opportunity to take stock of the task forces activities. The task force brings together locally elected officials, national and European parliamentarians from the Grand Est region as well as the prefectures of Grand Est and Bas-Rhin in order to promote the seat of Strasbourg. The discussions also focused on the actions by the government and local stakeholders to ensure that Strasbourg can play its full role as a European capital and to strengthen its accessibility.

Strasbourg is a symbol of our continents reconciliation. Thats why seat of the European Parliament as well of the Council of Europe and the European Court of Human Rights were established there. The choice of Strasbourg as the seat of the European Parliament, which is enshrined in the treaties, also reflects the determination of the founding fathers to build a polycentric Europe.

Photo : B. Chapiron / MEAE

Photo : B. Chapiron / MEAE

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European Union European Parliament's seat in Strasbourg Meeting between Nathalie Loiseau and Catherine ... - France Diplomatie (press release)

The EU is splitting apart as eastern members increasingly reject meddling from Brussels bigwigs to the west.

Hungarys Prime Minister Viktor Orbn teamed up with Poland to stand against the EU inquisition into the state of rule of law in Poland.

Speaking from Baile Tusnad, Romania, where he was attending a gathering of conservative leaders, Mr Orban said: The inquisition offensive against Poland can never succeed because Hungary will use all legal options in the European Union to show solidarity with the Poles.

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Poland is overhauling its supreme court despite street protests against the move and the threat of EU penalties.

On Saturday, Polands Supreme Court approved a law forcing the retirement of all supreme court judges - a move condemned by the EU as challenging the independence of its courts.

European Council President Donald Tusk, a former Polish prime minister, gave his support to Polish demonstrators who took to streets to protest.

He said: These people are out in streets because of a beautiful concern for Poland to become better.

I appeal to the president not to disregard these people because there is only good in them.

Getty

Getty

However, in a sign that there are deepening divisions between the EU and its member states, Mr Orban, much like Polish leader Jaroslaw Kaczynski, slammed Brussels for telling them what to do in their own countries.

He blasted EU Commission Vice President Frans Timmermans, Donald Tusk and the former European Parliament president Martin Schulz for their growing interference.

Citing a voter survey his government ordered in the EU's 28 member states, he said European leaders were out of touch with the public.

He said: When a political elite turns against its people it always needs an inquisitor, who steps up against those who speak up," branding EU Commission Vice President Frans Timmermans as the inquisitor.

He said Mr Timmermans was involved in an "effort to weaken patriotic governments", adding Poland was now his target.

He also criticised Mr Schulz, who once said that countries which did not show solidarity should face financial sanctions.

Mr Orban has repeatedly locked horns with EU officials over what he sees as interference by Brussels against democratic freedoms.

The Hungarian, is emerging as a freedom fighter against EU meddling into member states affairs.

Read more from the original source:
EU REBELLION: Hungary backs Poland to REJECT Brussels interference in internal policy - Express.co.uk

European officials are looking for Google to correct issues relating its search results. (Google)

Google-parent Alphabet (GOOGL) has already disclosed how a big European Union fine will lower second-quarterearnings when it reports late Monday, but analysts and investors remain in the dark on other EU fine-related issues that Chief Executive Sundar Pichai may clear up on its earnings call.

What's known is that Google's earnings will take a hit from the $2.74 billion fine, announced in late June, which will be reported as an operating expense. The EU says the internet giant skewed search results to benefit its own shopping search service vs. those of rivals.

Google has 90 days to change its comparison shopping services or face additional fines. Just what remedies the internet search giant plans to adopt is a wild card and analysts may seek some guidance from Pichai on the earnings call. Google's Product Listing Ads revenue could be impacted among other things.

"What is very unclear is what changes Google would have to make to its SERP (Search Engine Results Page) and what financial impact this could have on the company," Mark Mahaney, RBC Capital analyst, said in a note to clients. "Our working assumption is that Google's SERP has been optimized for user satisfaction (with monetization a secondary objective), so that any material SERP change could negatively impact the Google user experience and in that regard negatively impact its monetization potential."

The EU is also probing Google's Android operating system, its AdSense online ad service and Google Maps.

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Pichai could be pressed on Google's outlook on further EU antitrust fines and regulatory measures down the road.

Google could also face civil actions for damages by EU-based companies. The good news is thatGoogle has some $92 billion in cash.

The consensus estimate looks for Alphabet to report gross revenue of $25.64 billion and net revenue of $20.9 billion, both up 19% from the year-ago quarter, with adjusted earnings growing 18% to $8.25 a share.

Shares of Alphabet were down marginally to 991.42 in afternoon trades Monday.

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Can Google Clear Up Europe Search Issues With Earnings Report? - Investor's Business Daily

BRUSSELS (Reuters) - Germany is urging the European Union to add up to four more Russian nationals and companies to the bloc's sanctions blacklist over Siemens (SIEGn.DE) gas turbines delivered to Moscow-annexed Crimea, two sources in Brussels said.

The EU has barred its firms from doing business with Crimea since the 2014 annexation, imposed sanctions on Russian individuals and entities, and curbed cooperation with Russia in energy, arms and finance over its role in the crisis in Ukraine.

After it annexed Crimea from Kiev, Moscow threw its support behind a separatist rebellion in eastern Ukraine, which has killed more than 10,000 people and is still simmering.

The EU's blacklist comprises 150 people and 37 entities subject to an asset freeze and a travel ban. The restrictions are in place until Sept. 15.

"The regular review would normally be the moment to look at who is on the list. In the past, when there were good grounds, we've added entries to the list," an EU official said.

Siemens, trying to distance itself from the scandal, last week said it was halting deliveries of power equipment to Russian state-controlled customers and reviewing supply deals.

Russia's Energy Minister Alexander Novak played down the potential consequences of a halt.

"What Siemens supplies can be delivered by other companies," Novak told reporters in St Petersburg. "As for electricity generation, we ... have now learnt to produce the necessary equipment," he said, without referring to the prospect of additional sanctions.

Siemens says it has evidence that all four turbines it delivered for a project in southern Russia had been illegally moved to Crimea.

German government spokeswoman Ulrike Demmer said on Monday the turbines were delivered to Crimea against the terms of the contract and despite high-ranking assurances from Russian officials that this would not happen.

Berlin was consulting on what consequences this "unacceptable" operation might have, she said, adding, however, that the onus was on companies to ensure they did not violate the sanctions regime.

The proposed additions to the blacklist could include Russian Energy Ministry officials and the Russian company that moved the turbines to the Black Sea peninsula, one senior diplomatic source in Brussels said.

Another source said representatives of all 28 EU member states could discuss the matter for the first time in Brussels as soon as Wednesday.

The EU needs unanimity to impose or extend any sanctions.

Hungary, Bulgaria, Italy and Cyprus are among EU states which are usually skeptical of Russia sanctions. They take the line that punitive measures have failed to force a change of course by Moscow while hurting European business.

Reuters first reported a year ago on the Siemens case, which has exposed the difficulties of imposing EU sanctions.

Additional reporting by Vladimir Soldatkin in St Petersburg, Gernot Heller in Berlin; Editing by Alison Williams

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Exclusive: Germany wants more EU sanctions on Russia over Siemens Crimea turbines - sources - Reuters