Polish Briefing 27 July, 2017 9:00 am   
COMMENTS: Mateusz Gibała

Polish Briefing: USA hits with sanctions. Juncker worried about Nord Stream 2

What goes on in Poland on the 27th of July

More foreign investments

Poland is the first choice for foreign industrial investors. The Ministry of Economic Development boasted about the new data. It says that thanks to investments 16 thousand jobs will be created directly and 35 thousand indirectly.

According to the ministry, e.g. “the Aerial Valley is constantly developing in the podkarpackie voivodship, currently there are 10 new investments, including a factory of the British AB Aerospace Rzeszów wroth PLN 90 m.”

The ministry stressed that it was visible that the interests of British investors in the Polish market increased, especially among medium size enterprises. “Currently the Ministry of Economic Development and its subordinate entities are handling projects by British companies, which if implemented in Poland will directly create 1300 jobs. The projects are worth PLN 425 million.”

Diakonow new chairman of KNF

“Andrzej Diakonow was appointed as Vice Chairman of the Polish Financial Supervision Authority (KNF)”, stated the institution in a press release. Diakonow will be responsible for audits and internal supervision, administration, IT and client security.

“On 25 July 2017, Prime Minister Beata Szydło at the request of Marek Chrzanowski Chairman of the KNF appointed a new Vice Chairman of KNF Andrzej Diakonow, who will be responsible for audits, internal supervision, IT and client security,” said the press release. It was also pointed that Marek Chrzanowski will continue to supervise the banking department.

USA hits with sanctions

According to Paul Ryan, the House’s Speaker, the sanctions package approved yesterday by the House of Representatives against Russia, Iran and North Korea was one of the most extensive in history. The new sanctions will mostly target Russian economy.

According to Associated Press, the 184-page document is directed at Russia’s President Vladimir Putin, his oligarchs and key sectors of the Russian economy, including the defense and railway sectors, mining and energy.

Before the vote, Steny Hoyer (D) from the House of Representatives stated that the new sanctions targeted Russia because it interfered with US presidential elections in 2016 and has been engaged in the military conflict in Ukraine since 2014.

Juncker worried about Nord Stream 2

The President of the European Commission, Jean Claude Juncker stated that if new US sanctions against Russia undermine the EU energy security, Brussels was ready to present its own answer to the restrictions within a few days.

On Tuesday, the House of Representatives adopted a bill on levying new sanctions against Russia, which could deal a blow to European companies.

“The U.S. bill could have unintended unilateral effects that impact the EU’s energy security interests,” Jucker said in a statement after a meeting with the Commission.

“If our concerns are not taken into account sufficiently, we stand ready to act appropriately within a matter of days,” Juncker said and added that “America first” could not mean that Europe’s interest were last.