Greece Financing – Greek Homes http://greekhomes.info/ Mon, 15 Aug 2022 11:20:23 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 http://greekhomes.info/wp-content/uploads/2021/04/default.png Greece Financing – Greek Homes http://greekhomes.info/ 32 32 In Search of Cambodia’s “Looted” Treasures — Finance Uncovered http://greekhomes.info/in-search-of-cambodias-looted-treasures-finance-uncovered/ Mon, 15 Aug 2022 10:56:44 +0000 http://greekhomes.info/in-search-of-cambodias-looted-treasures-finance-uncovered/ The Cambodian government says these stone relics, depicting the heads of gods and demons, match a set that was looted years ago from one of the nation’s sacred sites. It’s unclear who edited the photo or for what reason, but experts interviewed for this story concluded that the carvings had been removed from the magazine’s […]]]>

The Cambodian government says these stone relics, depicting the heads of gods and demons, match a set that was looted years ago from one of the nation’s sacred sites.

It’s unclear who edited the photo or for what reason, but experts interviewed for this story concluded that the carvings had been removed from the magazine’s image.

The owners of the San Francisco mansion are lawyer and author Sloan Lindemann Barnett and her husband, Roger Barnett, an executive at a nutritional supplement company. The couple did not respond to email and phone messages from reporters.

The Cambodian investigation of the family collection goes beyond a set of statues. The stone objects in the San Francisco house appear to come from a larger collection of Khmer relics held by Lindemann Barnett’s billionaire parents, Frayda and the late George Lindemann.

The parents’ collection appeared in a previous broadcast of Architectural Digest, in 2008, described as “one of Southeast Asia’s largest art collections in private hands”. These photos show their home in Palm Beach, Florida, filled with Khmer antiques, many of which the Cambodian government suspects have been looted. Two of them appear to match artifacts that are among the top 10 stolen relics in the country, according to the government.

“Some of these statues have enormous historical and cultural significance for Cambodia and should be repatriated as soon as possible,” said Phoeurng Sackona, the country’s Minister of Culture and Fine Arts, who is leading the country’s efforts to recover statues. thousands of lost items.

“It’s not just art,” said Sopheap Meas, an archaeologist working with the Cambodian team. “We believe that each of them contains the souls of our ancestors.”

Agents from the U.S. Department of Homeland Security’s Antiquities Unit have contacted the Lindemann family in recent years about their Khmer collection, and there’s been no indication the family plans to return the statues, according to two people familiar with the efforts. who spoke on condition of anonymity because work is ongoing.

The Lindemann family has not been charged with any wrongdoing related to the artifacts. Frayda Lindemann did not respond to messages from reporters.

The discovery of the altered photo is part of a larger investigation by Finance Uncovered, the International Consortium of Investigative Journalists and the Washington Post into the fate of thousands of relics linked to art looters and traffickers. As The Post and ICIJ have previously reported, many of these treasures can be found in the collections of renowned Western art museums.

The new report sheds light on the role of private collectors who acquire antiques of uncertain origin and the opaque world of the antiques trade.

Once outside their country of origin, stolen items can be difficult to repatriate. With limited means to compel their return, authorities in victimized countries are largely dependent on assistance from law enforcement in the United States and other countries where the articles end up. But such investigations are expensive, are often considered a low priority for overburdened agencies, and rarely lead to convictions, in part because owners can say they bought the looted works without knowing it.

“This is a systemic problem” in the art market, said Domenic DiGiovanni, a former US Customs and Border Protection agent who specializes in antiques. There is little incentive for dealers and private collectors to stop buying looted art, he said, and “having to return something is just the cost of doing business”.

Asked about the edited image, Erin Kaplan, spokesperson for Architectural Digest, a Condé Nast publication, said via email that the magazine had published a photo that did not show the relics due to “publication rights unresolved concerning certain works of art”. Kaplan declined to say who edited the photo or clarify his comment about unresolved publishing rights.

II. Ancient temples, wealthy collectors

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Archbishop Elpidophoros visits Balikli Greek Hospital after devastating fire http://greekhomes.info/archbishop-elpidophoros-visits-balikli-greek-hospital-after-devastating-fire/ Sat, 13 Aug 2022 09:12:52 +0000 http://greekhomes.info/archbishop-elpidophoros-visits-balikli-greek-hospital-after-devastating-fire/ Archbishop Elpidophoros visited Balikli Greek Hospital after last week’s devastating fire and had the opportunity to hear from staff and residents about their experiences during the ordeal. Staff present when the fire first broke out said they worked quickly to move patients out of their rooms and into nearby buildings; Meanwhile, some residents described their […]]]>

Archbishop Elpidophoros visited Balikli Greek Hospital after last week’s devastating fire and had the opportunity to hear from staff and residents about their experiences during the ordeal.

Staff present when the fire first broke out said they worked quickly to move patients out of their rooms and into nearby buildings; Meanwhile, some residents described their experiences of being rescued by staff, “sometimes at the last moment”, before the roof collapsed on their beds.

No casualties were reported, but a number of residents were displaced; the hospital, which was established in the 18th century and has served Istanbul’s elderly Greek population for years, suffered extensive material damage.

Although the reconstruction is taking time, the Archbishop expressed his gratitude for the quick response of the Greek Orthodox faithful in the United States and thanked the Society of Greek Orthodox Ladies Philoptochos, the Order of St. Andrew (Archons of the Ecumenical Patriarchate ) and Archbishop Iakovos Leadership 100 Fund for their immediate emergency relief efforts.

“Our elder brothers and sisters in Constantinople deserve a decent place to spend the last years of their lives,” the Archbishop said, adding, “I personally am also very moved because this is the place where my own grand- mother, my uncle Michel, and my late father Vassilios spent the last years of their lives: a very beautiful place now in ashes, but very soon restored to its former and even better beauty.

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Making Millions Through Trade Secrets — Finance Uncovered http://greekhomes.info/making-millions-through-trade-secrets-finance-uncovered/ Thu, 11 Aug 2022 05:31:29 +0000 http://greekhomes.info/making-millions-through-trade-secrets-finance-uncovered/ Scottish shells After years of intense negotiation, LAS was forced to adapt its strategy in 2017. The future of its thriving office in Edinburgh, Scotland was suddenly put in jeopardy when the UK government announced tougher transparency rules designed to curb an explosion of Scottish limited companies. (SLP). The new rules targeted SLPs after investigative […]]]>

Scottish shells

After years of intense negotiation, LAS was forced to adapt its strategy in 2017. The future of its thriving office in Edinburgh, Scotland was suddenly put in jeopardy when the UK government announced tougher transparency rules designed to curb an explosion of Scottish limited companies. (SLP).

The new rules targeted SLPs after investigative journalists from The Herald newspaper, OCCRP, the BBC’s File on Four radio show revealed how some Scottish front companies were linked to international money laundering scandals.

Prior to the crackdown, in 2015 and 2016, LAS and other start-up agencies created record numbers of SLPs as demand for this type of front company skyrocketed.

At the height of the SLP boom, no agency was doing more to meet growing demand than LAS. Bellingcat, the research collective, later found that LAS created more than 1,600 partnerships in Scotland between 2015 and 2017.

But after new transparency rules were applied to Scottish partnerships, LAS’ business in Edinburgh quickly declined and its offices in the city were closed in 2020.

A leaked LAS email to a client, written in Russian, explained: “Unfortunately, this type of SLP company has often been used for fraudulent activity, attracting the attention of… UK authorities and the international press.

“For this reason and also due to the last AML inspection by the regulator…LAS has decided to suspend the registration and maintenance of Scottish partnerships.”

The email comes from a leak of almost 12 million documents from the offshore secrecy industry, known as the Pandora Papers. It was obtained by the International Consortium of Investigative Journalists.

LAS Express

LAS operations elsewhere in the UK were also changing. In 2018, the agency moved from its headquarters to an elegant Georgian townhouse in Fitzrovia, London. The website, las-international.com, has been removed and replaced with a clean site, renamed “LAS Express”.

At the same time, hundreds of businesses that LAS had registered at the old Fitzrovia address were moved to a nearby office above a Mexican burrito restaurant, where their administration was taken over by a new company in within the LAS empire called Company Advice LTD.

Company Advice has continued LAS’s company formation activities in the UK until 2021, Dovzhik and Utinane told Finance Uncovered.

“But in 2021, LAS and all associated companies ceased to offer locally regulated services related to business formation in the UK, added.

According to records held at Companies House, however, more than 800 active companies remained registered at the office above the Mexican restaurant at the end of March this year, many of them formed and administered by offshore companies associated with the LAS agency. Since then, new companies have been added every week.

In recent months, companies have been set up at this address with sole director-shareholders living in war-torn eastern Ukraine, Kazakhstan, Latvia and Cyprus. The most recent company set up for a Russian shareholder-manager was incorporated just six days before Vladimir Putin began the invasion of Ukraine.

When asked who set up these new businesses after LAS stopped offering company formation services in the UK, Dovzhik told Finance Uncovered that she didn’t know. She noted that some of LAS’ past customers may have used the address above the Mexican restaurant without realizing that LAS was no longer in business there. “We have different types of corporate clients and some…generally do everything [Companies House] deposits themselves, without our involvement.

Of the older companies registered at the same address — also still active, according to Companies House records — Dovzhik said many of those companies would soon be declared dissolved as documents were updated.

Meanwhile, a few businesses may continue to appear as “active” businesses for much longer, even though, in truth, they were abandoned by their ultimate owners some time ago, she said.

According to an analysis by Finance Uncovered and the BBC, before ceasing operations in the UK, LAS registered 244 PELs above the Mexican restaurant on behalf of its clients, of which 181 were still active at the end of March this year.

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Two years later, this is what happened to Pullmantur and its fleet http://greekhomes.info/two-years-later-this-is-what-happened-to-pullmantur-and-its-fleet/ Sat, 06 Aug 2022 11:19:41 +0000 http://greekhomes.info/two-years-later-this-is-what-happened-to-pullmantur-and-its-fleet/ In June 2020, Pullmantur Cruceros filed for reorganization under Spanish law. Two years later, Cruise Industry News looks at the fate of the Spanish cruise line and its ships. Pullmantur While initially keeping some of its crew ashore and hoping to resume service with vessels from other operators, Pullmantur ended up being closed last year. […]]]>

In June 2020, Pullmantur Cruceros filed for reorganization under Spanish law. Two years later, Cruise Industry News looks at the fate of the Spanish cruise line and its ships.

Pullmantur

While initially keeping some of its crew ashore and hoping to resume service with vessels from other operators, Pullmantur ended up being closed last year.

Unable to secure funding for its comeback, the cruise line was wound up by its insolvency administrators in July 2021 – a year after the reorganization petition was first filed.

According to Spanish media, the decision was also based on the evolution of the pandemic, which made it more difficult to predict when the company could resume regular operations around the world.

Sovereign
Year of construction: 1988
Ability: 2,322 guests
Tonnage: 73 192
Status: Scrapped in Aliaga, Turkey

The Sovereign was one of the first ships to run aground for demolition during the pandemic. As part of Pullmantur’s reorganization process, the 1988-built ship was returned to the Royal Caribbean Group before being sold to Turkish breakers.

In July 2020, just weeks after leaving the company’s fleet, the vessel arrived at the Aliaga shipbreaking yard to be dismantled.

Horizon
Year of construction: 1990
Ability: 1,442 guests
Tonnage: 47,000
Status: Disarmed in Greece

Also returned to the Royal Caribbean Group during the Pullmantur reorganization process, the Horizon remained decommissioned in Greece.

Instead of joining her fleet mates at Aliaga Breakers as planned, the ship proceeded to Elefsis Bay, where she remains anchored with other cruise ships to this day.

Monarch
Year of construction: 1991
Ability: 2,390 guests
Tonnage: 73,941
Status: Scrapped in Aliaga, Turkey

In a similar situation, the monarch arrived at the Aliaga shipbreaking yard with the sovereign.

Like her sister ship, the former Monarch of the Seas was returned to the Royal Caribbean Group before being sold for Turkish scrap in July 2020.

Zenith
Year of construction: 1992
Ability: 1,441 guests
Tonnage: 47,255
Status: Renamed TSM Singapore after two years of immobilization in Greece

After being sold to Peace Boat Organization in 2019, Zenith left Pullmantur’s fleet a few months before the company asked for a reorganization. However, following the COVID-19 pandemic, the ship never entered service for its new operators and instead spent almost two years in Greece.

In June 2022, the 1992-built ship was again sold, receiving the name TSM Singapore before sailing to Asia. Currently moored in Oman, she still faces an uncertain future.

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British Museum proposes ‘Parthenon partnership’ with Greece over disputed marbles http://greekhomes.info/british-museum-proposes-parthenon-partnership-with-greece-over-disputed-marbles/ Tue, 02 Aug 2022 18:00:39 +0000 http://greekhomes.info/british-museum-proposes-parthenon-partnership-with-greece-over-disputed-marbles/ Jonathan Williams, deputy director of the British Museum in London, has proposed a plan to repatriate the Parthenon Marbles to Greece, according to The Guardian. Loosely called the “Parthenon Partnership”, the project calls on Greek authorities and British Museum officials to agree to a program of loaning and borrowing the objects – fifteen metopes, seventeen […]]]>

Jonathan Williams, deputy director of the British Museum in London, has proposed a plan to repatriate the Parthenon Marbles to Greece, according to The Guardian. Loosely called the “Parthenon Partnership”, the project calls on Greek authorities and British Museum officials to agree to a program of loaning and borrowing the objects – fifteen metopes, seventeen figurative sculptures and part of a frieze which adorned the 2,500-year-old Parthenon temple on the Acropolis before being transferred to the UK by Lord Elgin, then British Ambassador to the Ottoman Empire, in the early 19th century.

The repatriation of the Marbles has been actively sought by Greece since 1983. The UK has dragged on for decades in returning the objects, citing the so-called Bloomsbury defense in its effort to retain possession of the sculptures, saying the objects belong to him. by the British Museum and therefore not subject to government supervision. Museum authorities maintained that the marbles were legally acquired at a time when Greece was under Ottoman rule. In May, the governments of the two countries agreed to hold formal talks regarding repatriation.

“What we are calling for is an active ‘Parthenon partnership’ with our friends and colleagues in Greece,” Williams told the Sunday time Cultural review. “I strongly believe there is room for a really dynamic and positive conversation in which new ways of working together can be found.”

Greek Prime Minister Kyriakos Mitsotakis, who has publicly called for the repatriation of the Marbles on numerous occasions, previously suggested the UK-Greece borrowing and lending scheme. Noting that the British Museum “hoped to change the temperature of the debate”, which has at times been quite heated, Williams said he welcomes the possibility. “There are lots of wonderful things that we would love to borrow and lend,” he said. “This is what we do.”

Nikolaos Stampolidis, director of the Acropolis Museum, suggested the plan could be a ‘basis for constructive discussions’, adding: ‘In the difficult days we live in, returning them would be an act of history. It would be like the British restoring democracy itself.

ALL IMAGES

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Turkey rescues irregular migrants on 2 boats pushed back by Greece http://greekhomes.info/turkey-rescues-irregular-migrants-on-2-boats-pushed-back-by-greece/ Sun, 31 Jul 2022 09:39:00 +0000 http://greekhomes.info/turkey-rescues-irregular-migrants-on-2-boats-pushed-back-by-greece/ The Turkish Coastguard Command saved the lives of irregular migrants in the Aegean Sea after they were illegally pushed to the Turkish side by Greek forces, the Defense Ministry said on Saturday. On July 29, a Turkish Navy drone recorded footage of Greek forces pushing two boats carrying irregular migrants towards the coast of Çeşme […]]]>

The Turkish Coastguard Command saved the lives of irregular migrants in the Aegean Sea after they were illegally pushed to the Turkish side by Greek forces, the Defense Ministry said on Saturday.

On July 29, a Turkish Navy drone recorded footage of Greek forces pushing two boats carrying irregular migrants towards the coast of Çeşme in Izmir province, the ministry said in a tweet.

The situation was immediately reported to the Turkish Coastguard Command and the migrants were rescued, he added.

Ankara and international human rights groups have repeatedly condemned Greece’s illegal practice of turning away asylum seekers, saying it violates humanitarian values ​​and international law by endangering the lives of vulnerable people, especially women and children.

Turkey has been a key transit point for irregular migrants wishing to cross into Europe to start a new life, especially those fleeing war and persecution at home. The country already hosts 4 million refugees, more than any other country in the world.

More recently, it was reported on Thursday that the European Union’s border agency, Frontex, has deliberately and systematically cooperated with Greece in the illegal pushback of asylum seekers to Turkish waters in the Aegean Sea.

According to the German magazine Der Spiegel wrote.

The confidential report was also seen by French newspaper Le Monde and investigative firm Lighthouse Reports. This follows repeated claims by aid groups that Frontex was turning a blind eye to Greek human rights abuses at sea.

The report says Frontex, under the administration of Frenchman Leggeri, who resigned in April under pressure from the European Parliament and rights groups, covered up pushbacks from Greece, deliberately lied to the European Parliament and covered up the fact that European taxpayers’ money was being used to fund pushbacks.

“Instead of preventing the pushbacks, Leggeri and his men covered them up. They lied to the European Parliament and hid the fact that the agency even supported some pushbacks with European taxpayers’ money,” Spiegel wrote.

The report found that Frontex officers failed to report the actions in an effort to avoid provoking reactions from Greek officials, even when they became aware of or witnessed unlawful pushbacks.

“The incidents were not reported through official channels because staff deployed by Frontex feared reprisals from the Greek authorities,” he said.

OLAF’s investigation found that at least six pushback incidents involved Greek Coast Guard vessels that had been co-funded by Frontex, the magazine said.

In an incident in August 2020, a Frontex surveillance plane filmed the Greek coast guard towing a dinghy with around 30 migrants on board towards Turkish waters – when they should have been taken to Greece.

Instead of confronting Greek authorities, Frontex stopped patrolling the Aegean by air, saying the planes were needed elsewhere, Spiegel wrote.

A handwritten note later found by OLAF investigators said Frontex management had withdrawn the plane “so as not to become a witness” to Greece’s illegal actions.

The Greek government has always denied the allegations of refoulement.

Human rights advocates and mainstream media have frequently reported unlawful pushbacks and other rights abuses by Greek authorities that breached EU and international law.

Greece intercepts boats carrying migrants and asylum seekers heading to its eastern islands from the neighboring coast of Turkey. Human rights organizations allege the country is carrying out summary expulsions, known as refoulements, which the Greek government denies.

In addition to maritime pushbacks, Greek border forces are also accused of apprehending and forcibly deporting migrants crossing the country by land.

In February, at least 19 migrants were found frozen to death near the Turkish-Greek border after being pushed back to Turkey by Greece.

Officials in Ankara have criticized Athens for the inhuman and degrading treatment of irregular migrants, saying those found dead had their clothes and shoes stripped by Greek border guards. Greece has denied any involvement.

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Britain’s National Grid warns of tight power supply this winter http://greekhomes.info/britains-national-grid-warns-of-tight-power-supply-this-winter/ Wed, 27 Jul 2022 23:30:01 +0000 http://greekhomes.info/britains-national-grid-warns-of-tight-power-supply-this-winter/ RIYADH: Gulf markets had a record year for initial public offerings, benefiting from a war-induced spike in oil prices. Gulf Cooperation Council exchanges have seen a surge in foreign inflows despite continued global volatility, which has sent stocks to their lowest levels in years on inflation and interest rate concerns. The Saudi stock market raised […]]]>

RIYADH: Gulf markets had a record year for initial public offerings, benefiting from a war-induced spike in oil prices.

Gulf Cooperation Council exchanges have seen a surge in foreign inflows despite continued global volatility, which has sent stocks to their lowest levels in years on inflation and interest rate concerns.

The Saudi stock market raised nearly $9.3 billion through 15 IPOs last year, making it one of the busiest markets in the Middle East and Africa.

Tadawul, or the Saudi Stock Exchange, maintained its momentum in 2022, as it listed 17 companies, raising $5.07 billion from IPOs in the first half of the year.

The main TASI index had eight listings generating $4.4 billion, and the parallel market Nomu had nine listings worth $649 million.

Among the top initial stock sales were Elm Co., Nahdi Medical Co. and Al-Dawaa Medical Services Co., which sold off in record time.

Elm, the Saudi Public Investment Fund’s digital security company, ranked second among all high-flying stocks in the first half of 2022, gaining 70% since listing this year.

Al-Dawaa Medical Services Co., whose IPO was 2,515% oversubscribed, has suffered a 9% decline in share price since listing.

Its pharmaceutical rival Nahdi, however, has seen a 9% jump in its share price since its market debut, after the retail tranche of its IPO was oversubscribed 13 times.

The surge in IPOs has further boosted the value of foreign ownership in the Kingdom, which reached SR450 billion ($119.72 billion) at the end of the first quarter of 2022, an increase of 209 % compared to the same period last year.

The listed companies in Saudi Arabia with the largest participation of foreign investors are Alinma Tokio Marine Co., Arabia Insurance Cooperative Co. and United International Transportation Co., with 29%, 28% and 27% foreign participation respectively.

The Saudi stock market also saw an 85% growth in GCC ownership to SR60.6 billion at the end of the first quarter of 2022, from SR32.7 billion two years ago.

Even as the Saudi market led the region in initial equity sales in the first quarter of 2022, GCC peers have also witnessed a wave of IPOs since the start of the year.

The outlook for the region is positive and the IPO rally is only expected to surge for the rest of the year as many companies line up for share sales in the oil-rich region.

Here’s a look at some of the biggest GCC IPOs in 2022:

Dubai Electricity and Water Authority

The Dubai Electricity and Water Authority was one of the biggest IPOs of the year globally. The public utility raised $6.1 billion and attracted orders worth $86 billion from investors. The offering marked the biggest regional IPO since Saudi oil giant Aramco raised more than $25 billion in 2019.

Nahdi Medical Co.

Pharmaceutical chain operator Nahdi Medical Co. completed a $1.36 billion IPO on Saudi Arabia’s main stock market in March. Operating across the Kingdom and in the United Arab Emirates, the company had a market share of 31% of total pharmacy sales in the Kingdom at the end of 2021.

borouge

The $2 billion IPO of petrochemicals maker Borouge has drawn $83 billion in orders from Abu Dhabi’s biggest-ever share sale. Borouge, which is a joint venture between Abu Dhabi National Oil Co. and Austrian chemicals producer Borealis, sold nearly 3 billion shares, representing 10% of the capital. The IPO has attracted interest from high-profile investors, including the world’s largest asset manager BlackRock Inc. and Fidelity.

TECOM Group

Dubai business park operator TECOM Group raised $454 million by selling 625 million shares in an IPO, with an offering price of $0.73 per share. The global offering attracted substantial demand from institutional and retail investors, with total gross demand of $9.6 billion and an oversubscription level of 21 times.

Abu Dhabi Ports

Abu Dhabi Ports, one of the region’s leading logistics enablers, sold 1.25 million shares in an IPO worth $1.1 billion. Even though the shipping sector has been hit by supply chain issues, the port operator’s IPO was a success as it attracted investor interest and debuted strongly in the Abu Dhabi Stock Exchange.

Elm Co.

PIF-owned, Riyadh-based digital security firm Elm Co. raised $820 million through an IPO. The final offer price was $34.1 per share, the upper end of an indicative range.

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Greek PM offers EU payment to industries to reduce gas consumption http://greekhomes.info/greek-pm-offers-eu-payment-to-industries-to-reduce-gas-consumption/ Tue, 26 Jul 2022 10:58:00 +0000 http://greekhomes.info/greek-pm-offers-eu-payment-to-industries-to-reduce-gas-consumption/ Greek Prime Minister Kyriakos Mitsotakis delivers a speech during the South East European Cooperation Process (SEECP) summit in Thessaloniki, Greece June 10, 2022. REUTERS/Alexandros Avramidis Join now for FREE unlimited access to Reuters.com Register ATHENS, July 26 (Reuters) – Greek Prime Minister Kyriakos Mitsotakis has proposed an EU-wide mechanism that would compensate industries for reducing […]]]>

Greek Prime Minister Kyriakos Mitsotakis delivers a speech during the South East European Cooperation Process (SEECP) summit in Thessaloniki, Greece June 10, 2022. REUTERS/Alexandros Avramidis

Join now for FREE unlimited access to Reuters.com

ATHENS, July 26 (Reuters) – Greek Prime Minister Kyriakos Mitsotakis has proposed an EU-wide mechanism that would compensate industries for reducing their gas consumption this winter as part of European efforts to deal with gas supply, his office said on Tuesday.

EU countries on Tuesday approved a weakened contingency plan to reduce their gas demand, after reaching compromise agreements to reduce cuts for some countries, as they prepare for further cuts in gas Russian offer. Read more

European countries are struggling to reduce their dependence on Russian gas and build up reserves after the Russian invasion of Ukraine in February.

Join now for FREE unlimited access to Reuters.com

In a letter sent to European Commission President Ursula von der Leyen on Monday, Mitsotakis proposed a Europe-wide mechanism that will compensate industrial users for reduced gas and electricity consumption this winter.

Mitsotakis said the mechanism would cover demand reductions for months rather than hours or days and would combine elements of energy market design and a way to fairly compensate industry.

“By offering financial incentives, rather than relying on the penalty of emergency outages, the proposal is more likely to unlock a strong and substantial industry response,” he added.

The tool would be funded by national and European resources, showing solidarity and allowing funds to flow to those who are most able to reduce their gas consumption, Mitsotakis said in the letter.

Greece depends on Russian gas for 40% of its needs and uses two-thirds of the fuel for electricity production. He asked to be exempted from the EU gas demand cut. Read more

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Reporting by Angeliki Kotantou; Editing by Nick Macfie

Our standards: The Thomson Reuters Trust Principles.

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Fire damages homes in southern Greece; more active flames http://greekhomes.info/fire-damages-homes-in-southern-greece-more-active-flames/ Sun, 24 Jul 2022 19:25:12 +0000 http://greekhomes.info/fire-damages-homes-in-southern-greece-more-active-flames/ ATHENS, Greece (AP) — A major fire has broken out in southern Greece, burning homes in villages not far from the famous archaeological site of ancient Olympia and prompting the evacuation of six villages. The fire broke out on Sunday afternoon near the villages of Krestena and Skillountia, located south and southeast of ancient Olympia. […]]]>

ATHENS, Greece (AP) — A major fire has broken out in southern Greece, burning homes in villages not far from the famous archaeological site of ancient Olympia and prompting the evacuation of six villages.

The fire broke out on Sunday afternoon near the villages of Krestena and Skillountia, located south and southeast of ancient Olympia. The authorities sent a message to the inhabitants of this village and four other villages to evacuate quickly.

Fire department spokesman Yannis Artopoios said 125 firefighters and 43 fire trucks were operating in the area, along with four planes and four helicopters, but the plane cannot operate at night. On a positive note, prevailing northwest winds were pushing the fire southeast, up a mountain and away from ancient Olympia, authorities said.

At least six larger fires burned across the country on Sunday, firefighters said, including three that lasted for several days. Artopois said 141 wildfires had started in Greece over the past three days.


The blaze on the Greek island of Lesvos, which required the evacuation of more than 450 tourists and residents on Saturday, is slowly being brought under control, with only scattered flames late Sunday afternoon, local authorities said.

But two fires still threaten Greek nature reserves, one in the northeast region of Thrace, near the Turkish border, and the other in the region of western Macedonia.

Three other fires broke out on Sunday, one in western Macedonia, another in central Greece and the third on the island of Crete.

In Dadia Forest, home to a number of rare bird species, firefighters and aid workers rescued injured animals and treated them. Late Sunday, the fire spread again, forcing residents of Dadia village to evacuate for the second time in three days.

Hot and dry conditions, along with gusty winds, prevailed for weeks in Greece. A heat wave that arrived on Saturday pushed the temperature above 41 degrees Celsius (105.8 degrees Fahrenheit) in some places. The heat should persist for several days.

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Follow all AP stories on climate change at https://apnews.com/hub/climate-and-environment

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Ukrainian president criticizes Greek shipowners for Russian oil http://greekhomes.info/ukrainian-president-criticizes-greek-shipowners-for-russian-oil/ Sat, 23 Jul 2022 02:35:05 +0000 http://greekhomes.info/ukrainian-president-criticizes-greek-shipowners-for-russian-oil/ Ukrainian President Volodymyr Zelensky has criticized Greek shipping companies for transporting Russian oil and demanded an explanation from Greece. “We see Greek companies supplying almost the largest fleet of tankers for transporting Russian oil,” Ukrainian President Volodymyr Zelensky said in a speech at a conference in Athens via video link. “Again: this is happening precisely […]]]>

Ukrainian President Volodymyr Zelensky has criticized Greek shipping companies for transporting Russian oil and demanded an explanation from Greece.

“We see Greek companies supplying almost the largest fleet of tankers for transporting Russian oil,” Ukrainian President Volodymyr Zelensky said in a speech at a conference in Athens via video link.

“Again: this is happening precisely when another Russian energy resource is being used as a weapon against Europe and against the family budget of every European. I am sure this does not meet the interests of Europe, Greece or Ukraine,” Zelensky added.

Meanwhile, European shipping companies, including Greek ones, do not break any laws by transporting Russian oil. However, an EU ban on Russian oil imports by sea, which will come into force in December, will prohibit Greek tanker operators from shipping Russian oil.

According Oil prices magazine, a much bigger blow to Russian oil exports that will have dramatic consequences for the global tanker market and oil prices stems from provision number two of the sixth sanctions package – EU operators will be banned to ensure and finance the maritime transport of Russian oil to third countries.

“Greek shipowners made 151 calls from Russian Baltic and Black Sea ports between May 1 and June 27, up 41% from the same period last year, data shows. compiled by Lloyd’s List using Lloyd’s List Intelligence. Nearly half of all crude and refined products exported from major Baltic or Black Sea ports were shipped on vessels owned by Greek tanker owners, the data shows. Billionaire George Economou’s TMS Tankers is the biggest Greek player in the Russian market and second overall, just behind Russia’s Sovcomflot, which is under Western sanctions, according to the data. ‘ writes Tsvetana Paraskova in Oil prices magazine.

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