Headline

Sweden To Help Consumers Facing High Electricity Costs

Published

4 years ago

August 18, 2022

Sweden’s government on Wednesday vowed to compensate households and companies for soaring electricity costs in the wake of the Ukraine war, to the tune of up to 60 billion kronor ($5.76 billion).

At least half of the amount was to go to households who could expect to be compensated “this winter”, Prime Minister Magdalena Andersson told reporters.

“We have electricity and gas prices at a level we’ve never seen before”, she said.

On Wednesday, electricity on the Nordpool market hit a record 5.69 kronor per kilowatt hour in southern Sweden. It was expected to fall back slightly to 5.50 kronor on Thursday.

Swedish electricity prices have soared after Russia drastically curtailed gas supplies to Europe following its invasion of Ukraine.

Gas prices have thereby soared, at a time when there is little wind energy being generated in northern Europe due to current weather conditions.

Svenska Kraftnat, the state-owned operator of the national grid, has therefore been raking in soaring so-called capacity fees, which have left it with a surplus despite massive investments in its grid, Andersson said.

That surplus should make its way back to consumers, Andersson said, adding: “The higher the electricity price goes, the higher the amounts we’re talking about”.

Hydropower for about half of the electricity generated in Sweden, which also relies on nuclear and wind power.

It is not yet known what form the compensation would take nor when it would be introduced, but the government said measures could include lower electricity prices as well as direct refunds to households and companies.

The government has tasked Svenska Kraftnat with drawing up a concrete proposal by November 15.

The Social Democratic government’s announcement comes just three weeks ahead of legislative elections, with opinion polls putting the left and right blocs neck-and-neck.

AFP

Headline

Indian Court Denies Bail To Nigerian Man Over Drug Charges

Published

26 minutes ago

May 28, 2026

Editor

A court in India has denied bail to a 44-year-old Nigerian national, Cristian Soporuchukwu, who is currently facing drug trafficking charges in the country.

Cristian Soporuchukwu initially entered India on a business visa but was later arrested over allegations of involvement in the sale of hard drugs.

Reports indicated that after arriving in India, Soporuchukwu travelled through Goa, Delhi, and Mumbai, where he allegedly established links with suspected drug traffickers.

He was accused of purchasing MDMA crystals and distributing them to college students and information technology workers.

According to reports, operatives of the Beguru Police arrested Cristian Soporuchukwu in April 2025 for allegedly selling MDMA crystals around Begur Lake and the AECS Layout Road area.

The New Indian Express reported that the High Court of Karnataka subsequently dismissed the Nigerian’s bail application.

“The anti-narcotics wing seized about 1 kg of MDMA crystals, a pocket weighing machine, 10 zip-lock covers, a mobile phone and a scooter from him,” the report stated.

Justice V. Srishananda, while ruling on the bail application, reportedly held that errors relating to the grounds of arrest could not automatically justify bail in serious narcotics-related offences under the Narcotic Drugs and Psychotropic Substances, NDPS, Act.

The court further noted that Cristian Soporuchukwu had allegedly overstayed his visa in India, according to the report.

Headline

Strait Of Hormuz: US Announces Sanctions Against Iran

Published

55 minutes ago

May 28, 2026

Editor

The United States Treasury has announced sanctions against Iran’s Persian Gulf Strait Authority.

Treasury Secretary, Scott Bessent, said this in a statement on Wednesday.

The statement extended the threat of sanctions to anyone paying the fees, saying they may be providing support to and receiving services from Iran’s Revolutionary Guards, and therefore may be exposed to sanctions risk.

“The Iranian military’s latest attempt to extort global maritime trade is proof that Economic Fury has left the regime desperate for cash.

“Treasury has deprived the Iranian regime of revenue for their weapons programs, terrorist proxies, and nuclear ambitions,” Bessent said.

Bessent added that the US has succeeded in disrupting tens of billions of dollars’ worth of revenue from being accessible to Tehran.

Headline

US Launches New Airstrikes On Iran

Published

58 minutes ago

May 28, 2026

Editor

The United States has launched new airstrikes in southern Iran.

The strike shot down four one-way attack drones that posed a threat around the Strait of Hormuz and then a ground control site.

A US official revealed that American forces struck an Iranian ground control station in Bandar Abbas that was about to launch a fifth drone.

The official described the strikes as purely defensive, saying the US intended to maintain the ceasefire.

Report says this is the second time in three days that the US has carried out self-defense strikes against Iranian military targets in southern Iran.

Recall that on Monday the US carried out airstrikes against Iranian missile locations and boats that US Central Command said were preparing to launch mines in the Strait of Hormuz.