Slovakia, Hungary and Czech Republic are most exposed among Central and Eastern European (CEE) sovereigns to a sudden cessation of Russian gas supplies to EU countries, Fitch Ratings says. Poland, Lithuania and Romania appear least exposed.A sudden cessation is not Fitch’s base case, but is a risk. Bulgaria and Poland have already been cut off and supplies to other EU members have been reduced. Supply and infrastructure constraints mean it could take the EU more than three years to offset a full loss of Russian gas supply.Fitch has constructed a vulnerability matrix showing EU countries’ reliance on Russian gas imports. We have also considered EU and national policy responses, holding discussions with national authorities, usually energy ministries of all CEE EU members. These responses would probably involve supply- and demand-side management and centralised price-setting. We also look at mitigating factors for the 11 Fitch-rated CEE sovereigns.The region would face a significant macro shock, including in many cases negative growth and higher inflation: energy generally has a higher weight in the harmonised consumer price basket in CEE than in Western European countries). But differences in mitigating factors mean the impact would vary widely. Slovakia, Hungary and Czech Republic combine high reliance on Russian gas with a lack of viable short-term alternative energy supplies. In contrast, Poland, Lithuania and Romania have largely secured alternative supplies or have significant domestic production. Assessing mitigants and understanding policy responses is key to understanding the potential rating implications of cessation: important offsetting factors are not always visible in the vulnerability matrix.The impact on public finances from the macro shock and potential offsetting measures could pressure sovereign ratings, particularly where credit metrics are already weak relative to rating peers. The Negative Outlook on the Czech Republic’s ‘AA-’ rating since May partly reflects risks from its dependence on Russian energy.
British heavy metal band Iron Maiden will perform at Bucharest’s National Arena on May 28, 2026, as part of their “Run For Your Lives” anniversary world tour, promoter Emagic announced on Thursday, September 18. The concert will feature a career-spanning setlist highlighting defining moments from the group’s five-decade history, accompanied by what organizers described as […]
Daniela Schoppmeyer, the majority shareholder and general manager of Faberrom, a company that took over in the 1990s most of the spaces of the former APACA clothing factory in western Bucharest, is the new owner of half of the emblematic Scala residential block, on Magheru Boulevard, Profit.ro reported. Schoppmeyer...
The Bucharest Municipal Parking Company (CMPB) inaugurated 189 new parking facilities with more than 12,400 spaces in the first half of 2025, while revenues from parking fees rose 20% year-on-year to RON 50.4 million (roughly EUR 10 million), the company said on Thursday, September 18. CMPB reported a net profit of RON 28.3 million for January–June […]
Romania has inaugurated underwater seagrass meadows and artificial reefs in the Black Sea as part of a major restoration project aimed at curbing erosion and reviving marine biodiversity, the National Administration “Apele Române” said. More than 20 hectares of seabed have already been planted with Zostera noltii seagrass and transplanted with Cystoseira barbata seaweed, creating […]
A former pastor from California has been accused of sexual abuse and child trafficking at a shelter he ran in Bucharest, according to lawsuits filed by two Romanian men in the California District Court, AP reported. The complaints, filed by 33-year-old Marian Barbu and 40-year-old Mihai-Constantin Petcu, reportedly say that former pastor and missionary of […]
Four cities, namely Bistrița, Deva, Oradea, and Tulcea, have submitted bids to become Romania’s Youth Capital in 2027, organizers announced after the first round of applications closed on September 15. The competition, inspired by the European Youth Capital program, highlights cities’ commitment to investing in young people and involving them in community life. “The fact […]
