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European Union governments on Tuesday neared an agreement on rationing natural gas this winter to protect against any further supply cuts by Russia as Moscow pursues its invasion of Ukraine.

EU energy ministers deliberated over a draft European law that would require member states to cut demand for natural gas by 15 per cent from August through March.

This would entail voluntary steps to reduce gas consumption and, if they yield insufficient savings, a trigger to impose mandatory moves across the 27-nation bloc.

On Monday, Russian energy giant Gazprom said it would limit supplies to the EU through the Nord Stream 1 pipeline to 20 per cent of capacity, heightening concerns that Russian President Vladimir Putin will use gas trade to challenge the bloc's opposition to the war in Ukraine.

The winter is coming and we don't know how cold it will be, said Czech Industry Minister Jozef Sikela, whose policy portfolio includes energy. But what we know for sure is that Putin will continue to play his dirty games in misusing and blackmailing by gas supplies.

The European Commission, the EU's executive arm, is pressing the ministers to reach an agreement less than a week after rushing out the rationing proposal.

We have to be ready for the possible supply cuts from Russia at any moment, said European Energy Commissioner Kadri Simson. We have to act right now.

Since Russia invaded Ukraine in February and the West protested with economic sanctions, 12 EU countries have faced halts to, or reductions in, Russian gas deliveries.

Although it has agreed to embargo oil and coal from Russia starting later this year, the EU has refrained from imposing sanctions on Russian natural gas because Germany, Italy and some other member states rely heavily on these imports.

The disruptions in Russian energy trade with the EU are stoking inflation that is already at record levels in Europe and threatening to trigger a recession in the bloc just as it was recovering from a pandemic-induced slump.

The energy squeeze is also reviving decades-old political challenges for Europe about policy coordination. While the EU has gained centralised authority over monetary, trade, antitrust and farm policies, national sovereignty over energy matters still largely prevails.

In a sign of this, the European Commission ruffled feathers by planning under the proposed rationing rules to give itself the power to decide on any move from voluntary to mandatory actions.

Any agreement among the ministers may strip away this provision and ensure that a decision on mandatory gas rationing would lie in the hands of EU governments.

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European Union Nears Deal To Ration Gas Amid Russian Cut-Off Fears - Outlook India

LES ULIS, France--(BUSINESS WIRE)--LFB today announced that the European Medicines Agency (EMA) has granted on July 15th a Marketing Authorisation for CEVENFACTA (eptacog beta), as the first new bypassing agent in over 20 years. CEVENFACTA is indicated in adults and adolescents (12 years of age and older) for the treatment of bleeding episodes and for the prevention of bleeding in those undergoing surgery or invasive procedures in the following patient groups:

Denis Delval, LFBs Chairman and Chief Executive Officer, stated: We are very pleased with the approval of CEVENFACTA by the EMA, which provides a new treatment option for haemophilia patients with inhibitors in the European Union. This approval is a validation of our innovative LFB technology and the acknowledgement of LFBs deep commitment to patients.

Dr. Patrick Delavault, MD, LFBs Executive Vice President Scientific, Medical and Regulatory Affairs, stated: We need to keep in mind constantly what a bleeding event, even a single bleeding event, means to a haemophilia patient with inhibitors and to his family. This novel treatment alternative is a significative opportunity to improve patients lives.

LFB has been granted a Marketing Authorisation for SEVENFACT (eptacog beta) in Mexico on June 2nd for the treatment of bleeding episodes in adults and adolescents with haemophilia A or B with inhibitors.

About PERSEPT studies:

The approval of CEVENFACTA was based on data from the phase III clinical trials, PERSEPT 1 and PERSEPT 3.

The PERSEPT 1 Phase III, multicentre, randomised, open-label crossover study of two initial dose regimens (75g/kg and 225g/kg), evaluated 468 bleeding episodes across the full type of severity of bleeding episodes (mild, moderate, and severe), in 27 adolescent and adult haemophilia A and B patients with inhibitors (12-54 years of age). Both dosing regimens met the primary endpoint with 81% and 90% of bleeds controlled at 12 hours with the 75g/kg dose and the 225g/kg dose respectively. By 24 hours, haemostatic efficacy (secondary endpoint) was retained in 96.7% of bleeding episodes treated with the 75 g/kg dose regimen and 99.5% of redundancy bleeding episodes treated with the 225 g/kg dose, without requiring any alternative therapy. The median time to attain haemostatic efficacy was 5.98 hours for the 75 g/kg dosing regimen and 3 hours for the 225 g/kg dosing regimen. A median of 2 injections was needed to treat a bleeding episode with the 75 g/kg and a median of only 1 injection of the 225 g/kg dosing regimen was needed.

The PERSEPT 3 Phase III, multicentre, open-label, single-arm study evaluated the safety and efficacy of CEVENFACTA in haemophilia A or B patients with inhibitors who were scheduled for an elective surgical or other invasive procedure. 12 patients were enrolled in the study, 6 with minor procedures and 6 with major procedures. For major surgical/invasive procedures, treatment was administered at an initial bolus dose of 200 g/kg immediately before the start of the invasive procedure. For a minor elective surgical procedure, an initial bolus dose of 75 g/kg was administered immediately before the start of the procedure. Overall, 81.8% of procedures were reported as successfully treated at 48 hours after the last administration of the product.

No thromboembolic events were reported in these two clinical trials. No Serious Adverse Events (SAEs) were considered as related to the treatment.

Patients should be monitored for any signs of thrombosis, hypersensitivity and neutralising antibodies. The most frequently reported adverse reactions in studies were infusion site discomfort, infusion site haematoma, post-procedural haematoma, infusion related reaction, increased body temperature, dizziness and headache.

About LFB

LFB is a bio-pharmaceutical group that develops, manufactures and markets plasma derived products and recombinant proteins for the treatment of patients with serious and often rare diseases. LFB was founded in 1994 in France and is among the leading European bio-pharmaceutical companies providing mainly hospital-based healthcare professionals with blood-derived therapeutics with the vision to provide treatment options to patients in three major areas: immunology, haemostasis, and intensive care.

LFB currently markets 15 biomedicinal products in more than 30 countries.

Please visit http://www.groupe-lfb.com for further information on LFB.

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LFB Announces the Approval of CEVENFACTA (eptacog beta) in the European Union - Business Wire

European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium June 17, 2022. REUTERS/Yves Herman/File Photo

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BRUSSELS, July 22 (Reuters) - The European Commission gave Hungary a final month to address its concerns about the rule of law before asking European Union governments to suspend some of the funds Hungary is to get under the bloc's 2021-2027 budget.

The new deadline is part of an EU process, called the "conditionality mechanism", meant to protect the EU's financial interests against breaches of rule of law by an EU government. It is separate from other procedures over the rule of law that the EU has launched against Hungary.

The Commission believes EU money is at risk in Hungary because of what it says is corruption, which can take the form of tenders for EU funded projects in which only one bidder, usually linked to the ruling party, takes part.

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The EU executive also has concerns about the independence of the judiciary, media and non-governmental organisations.

Hungarian Prime Minister Viktor Orban has in the past dismissed EU and U.S. concerns over corruption in Hungary, but top Hungarian officials have said over the past weeks Budapest was willing to work with the Commission to address the concerns.

Hungary offered this week to cut the number of public tenders in which only one bidder participates to 15% of the total. It has also offered to allow courts to order prosecutors to pursue cases even if prosecutors had decided not to and to make law-making in Hungary more transparent and inclusive.

Because of its concerns over EU budget money, the Commission launched the "conditionality mechanism" against Hungary in April. In the end, it could lead to the suspension of the 21 billion euros ($21.3 billion) for Hungary in the EU budget.

The Commission said on Friday it had mandated Budget Commissioner Johannes Hahn to inform Budapest of the measures that the EU executive intends to propose to EU governments if Hungary's remedial measures are not adequate.

"Hungary has now one month within which it can submit its observations and any additional information, in particular on the proportionality of the measures envisaged by the Commission," the EU executive arm said.

It added Hungary still had the opportunity to submit adequate remedial measures.

The funds affected are known as cohesion funds - which EU countries that are poorer than the EU average get to develop their infrastructure such as roads and bridges, water treatment plants or transportation.

A senior EU official, who asked not to be named, said the Commission's proposal to EU governments would most likely not concern all of the cohesion funds for Hungary, because it had to be proportional to the scale of the problem.

"But it will be a serious proposal, not a symbolic one," the official said.

The suspension of the cohesion funds, however, coming on top of 5.8 billion euros of recovery fund grants that are still frozen, would be a major blow to the Hungarian economy which is suffering from a weakening currency, rising costs of borrowing, a widening budget deficit and rampant inflation.

($1 = 0.9848 euros)

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Reporting by Jan StrupczewskiEditing by Philip Blenkinsop and Frances Kerry

Our Standards: The Thomson Reuters Trust Principles.

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EU gives Hungary a month to act before moving to suspend funds - Reuters

Following the previous legal proceedings filed by the European Commission against the United Kingdom, four more legal proceedings were launched. This time, the suits were in response to the passage of a Northern Ireland bill from the British parliaments lower chamber.

The European Commission filed four additional legal proceedings against the United Kingdom Friday last week. The new legal proceedings came after the House of Commons passed the legislation that would scrap some of the regulations over post-Brexit trade with Northern Ireland.

The European Commission cited the UKs unwillingness to engage in dialogue over the protocol that makes up the arrangements for trade with Northern Ireland in its new legal proceedings. The passage of the legislation that would scrap some of the arrangements by the House of Commons also undermined cooperation, according to the EU.

The four new suits bring the total to seven filed by the European Union against the UK over what it deems is a failure to respect the post-Brexit trade agreement with Northern Ireland.

This could lead the European Court of Justice to impose fines. However, this may not happen for at least a year. The Commission also said it is prepared to launch additional legal procedures to protect the EUs single market from the UKs violations of the protocol.

A legal dispute is in nobodys interest and will not fix the problems facing the people and businesses of Northern Ireland. The EU is left no worse off as a result of the proposals we have made in the Northern Ireland Protocol bill, a spokesperson for the British government said in response to the four new legal proceedings.

Thursday last week, the European Union has imposed sanctions on 10 Syrians accused of enlisting Russian mercenaries as part of its widening sanctions on Russia for its invasion of Ukraine that began in February.

The new additions were part of the blocs new sanctions against Moscow, which targeted lender Sberbank as well as a ban on Russian gold imports, additional companies and individuals, and increased export controls.

The Syrian regime provides support, including military support, for Russias unprovoked and unjustified war of aggression against Ukraine, an EU official said Thursday.

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European Union files additional legal proceedings against UK over Northern Ireland bill - EconoTimes

EU looks to replace gas from Russia with Nigerian supplies

The European Union is seeking additional gas supplies from Nigeria as the bloc prepares for potential Russian supply cuts, Matthew Baldwin, deputy director general of the European Commission's energy department, said on Saturday.

Baldwin was speaking in Nigeria where he held meetings with officials from Africa's largest oil producer this week.

He was told that Nigeria was improving security in the Niger Delta and planned to re-open the Trans Niger pipeline after August, which would yield more gas exports to Europe.

The EU imports 14 per cent of its total LNG supplies from Nigeria and there is potential to more than double this, Baldwin told Reuters by phone.

Oil and gas output in Nigeria is being throttled by theft and vandalism of pipelines, leaving gas producer Nigeria LNG Ltd's terminal at Bonny Island operating at 60per cent capacity.

"If we can get up to beyond 80%, at that point, there might be additional LNG that could be available for spot cargoes to come to Europe," Baldwin said.

"They (Nigerian officials) said to us, 'Come and talk to us again at the end of August because we think we can deliver real progress on this'."

Nigeria NLG is owned by state-oil company NNPC Ltd, Shell, TotalEnergies and Eni.

The European Commission said on Wednesday that EU member states should cut their gas use by 15per cent from August to March. The target would initially be voluntary, but would become mandatory if the Commission declared an emergency.

Last year, Nigeria exported 23 billion cubic metres (bcm) of gas to the EU, but the figure has been declining over the years. In 2018 the bloc bought 36 bcm of LNG from Nigeria, Baldwin said.

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European Union Seeks To Replace Russian Gas With Nigerian Supplies - NDTV Profit