Moscow has reiterated pledges to improve Russian energy security by promising sizable investments to develop its hydrocarbon sector and power supply networks. However, the economic viability of such solutions appears to remain a matter of debate as Moscow’s ambitious plans require huge investments. Russian authorities have long pledged to replace obsolete and wasteful Soviet-era energy technologies and solutions by what officials describe as “energy-efficient” facilities. READ MORE

After a walkout by opposition Communists, Moldova's parliament failed to elect a president in its second try since November, plunging Europe's poorest country further into uncertainty. READ MORE

President Traian Basescu has been re-elected in a neck-and-neck runoff against challenger Mircea Geoana. But his rival's party says there has been election rigging and will contest the result. READ MORE

Serbia is one step closer to its goal of EU membership after the Netherlands agreed on Monday to unfreeze a trade agreement with the former Yugoslav republic, which has improved cooperation with the UN war crimes court. READ MORE