Russia Stops Supplying Gas to Ukraine

As death toll from Europe's week-long cold snap rises to 114

(NEWSER) - Eastern Europe's week-long cold snap shows no sign of relenting, with increasingly tragic consequences: The death toll has risen to 114, and some 11,000 Serbians living in remote villages are trapped, reports the AP . Heavy snow and blizzards have made the roads impassable, stranding those living in some 6,500 homes tucked into in country's mountains—and more snow is expected. "The situation is dramatic, the snow is up to five meters (16.5 feet) high in some areas, you can only see rooftops," said one Serbian. Things are equally extreme elsewhere: More»

Ukraine sees 30 die in recent days

(AP) - Thirty people, most of them homeless, have died of hypothermia in recent days in Ukraine, part of a surge of deaths across eastern Europe as the region grapples with an unusually severe cold spell. In all, at least 58 people have died from the cold in Europe over the last week. Of the victims in Ukraine, 21 were found frozen on the streets, five died in hospitals and four died in their own homes, according to Ukranian officials. More»

Country's troubles likened to Greek crisis

(NEWSER) - In order to pay back $11.6 billion in debt, Portugal needs to re-enter capital markets next year—and as it stands, that's looking like a tall order. The deadline isn't until September 2013, but the International Monetary Fund could call on the country to release a financial plan a year in advance. And if it looks like Portugal will be incapable of accessing markets, the IMF could overhaul its bailout, the Wall Street Journal reports. More»

May also freeze central bank's assets

(NEWSER) - The European Union today rolled out its embargo of Iranian oil, adopting the measure as what Britain's foreign secretary called "an unprecedented set of sanctions" designed to crack down on the country's nascent nuclear program. Existing contracts for crude oil and petroleum will be honored until July, but all new contracts are embargoed effective immediately, the AP reports. The EU is also poised to freeze Iran's central bank's assets. The sanctions should cut deep, notes Reuters : The EU is Iran's biggest oil customer after China. More»

His EU veto could have major ramifications

(NEWSER) - David Cameron's decision to exercise Britain's veto and sit out negotiations on a new EU treaty is being seen as a momentous move, even if the ramifications aren't quite clear yet:

• New York Times : The decision "has left Britain as isolated as it has ever been in postwar Europe and effectively left out of future European decisions," write Sarah Lyall and Julia Werdigier. They add, however, that "there was widespread confusion over what this all actually means."
• Guardian : "I do not hear the sound of champagne corks or celebration among British Eurosceptics," writes Michael White. "Beware of what you wish for, is a wise saying. Who knows what happens now? But Europe, for all its follies and failings, has become a scapegoat for weaknesses that are really our own. We may be about to rediscover that awkward truth. It was why we joined in the first place."