Turkey intends to participate in the Caspian Sea–Black Sea–Europe energy corridor (Black Sea Energy) project, which is designed to ensure the supply of “green” electricity from the South Caucasus to the European Union market, said Turkish Minister of Energy and Natural Resources Alparslan Bayraktar.
According to him, the project involves connecting the power grids of Azerbaijan and Georgia, followed by the transmission of electricity via an undersea cable across the Black Sea to Romania and on to Hungary. At the invitation of the Azerbaijani side, Turkey expressed its intention to join the initiative and supported its implementation.
Ankara’s interest in the project is also confirmed by preliminary negotiations with Baku. On August 1, Azerbaijan’s Minister of Energy Parviz Shahbazov reported following a meeting with Bayraktar in Istanbul that the parties had discussed Turkey’s potential cooperation within the framework of the “Caspian–Black Sea–Europe” energy corridor and had also agreed to accelerate the implementation of other joint energy projects.
According to Bayraktar, cooperation between Turkey and Azerbaijan in the electricity sector is currently developing along three fronts.
The first involves integrating Nakhchivan’s power grid with Turkey’s and organizing electricity exchanges. In the future, this route could be connected to the main territory of Azerbaijan via the Zangezur Corridor.
The second direction is the “green” energy corridor connecting Azerbaijan, Georgia, Turkey, and Bulgaria. It is intended to facilitate the export of renewable electricity generated in Azerbaijan through Georgia and Turkey to Bulgaria and onward to EU markets. In August 2026, Baku and Ankara separately agreed to accelerate the implementation of this project.
The third initiative is Black Sea Energy itself. The main participants in the project remain Azerbaijan, Georgia, Romania, and Hungary. The four countries signed an agreement on strategic partnership in the development and transmission of “green” energy in Bucharest on December 17, 2022. The European Union supports the project, viewing it as a new supply route for renewable electricity from the South Caucasus to the EU.
In July 2026, the project moved to the next phase of implementation following the completion and approval of feasibility studies. The project operator, Green Energy Corridor Power Company, has begun developing the conceptual design, engineering solutions, and procurement strategy.
According to recent statements by the Azerbaijani side, the plan is to gradually export up to 3.9–4 GW of green electricity through the corridor, starting in 2032. The project has also been included in the TYNDP 2026 portfolio of the European Network of Transmission System Operators for Electricity (ENTSO-E).
A key infrastructure element will be a high-voltage subsea direct-current cable between Georgia and Romania. The preliminary construction cost is estimated at approximately 3.5 billion euros, with a construction period of three to four years. It was previously reported that up to 2.3 billion euros in European funding could be secured. However, in the latest Global Gateway documents, 2.3 billion euros is also cited as the indicative investment amount for the strategic Black Sea electricity interconnector, so the final financing structure for the project is still to be finalized.
The European Commission views Black Sea Energy as one of the tools for diversifying the EU’s energy supply and integrating renewable generation from the South Caucasus. The project is intended to connect the Caspian Sea region to the European power grid via Georgia and Romania, while also strengthening the energy resilience of the participating countries.
If Turkey joins, the project will take on additional significance, as Ankara will be able to participate in several parallel transmission routes for Azerbaijani “green” electricity to Europe—via the Black Sea and via the Turkey–Bulgaria overland corridor.
From February 2022 to February 2026, the IDS Ukraine Group of Companies allocated 875 million UAH of its own funds to business development, the company’s CEO, Marko Tkachuk, said in an interview with Interfax-Ukraine. External financing was virtually unavailable to the group during this period.
Of the total amount, 161 million UAH was invested in equipment upgrades, 220 million UAH in the refrigerated fleet, and 87 million UAH in infrastructure projects.
The largest single area of investment was digital transformation and software, in which the company invested 363.4 million UAH.
IDS Ukraine invested another 43.6 million UAH directly in ensuring the energy independence of its facilities. A powerful generator was installed at the plant in Morshyn, and a solar power plant was built in Myrhorod. The company’s total in-house power generation capacity reached 1.6 MW.
Even with backup capacity, it is not yet possible to completely replace the centralized power supply. In Myrhorod, during a blackout, one or two of the four power lines may remain operational, and at the “Oskar” plant in Morshyn, one of the five lines may remain operational. This allows production of the most in-demand drinking water to continue even during prolonged outages.
Separately, IDS Ukraine has invested 9.2 million UAH in providing backup power to schools and kindergartens in Myrhorod and the Morshyn community. The project covers educational institutions attended by more than 6,000 children. The company announced that this program will be completed on August 31, 2026.
According to Fixygen, U.S. spot Bitcoin exchange-traded funds (ETFs) saw $986.9 million in net inflows for the week ending September 4, extending their streak of positive weeks to three in a row.
According to SoSoValue data cited by The Block, inflows increased compared to $924.5 million the previous week. BlackRock’s iShares Bitcoin Trust (IBIT) led the way, attracting $691.5 million over the week.
Meanwhile, on September 3, net inflows into all U.S. Bitcoin ETFs reached $730.9 million, marking the highest daily figure since mid-January. The following day, the funds received an additional $174.6 million.
Bitcoin ETF trading volume for the week totaled $14.5 billion, compared to nearly $19 billion the week before. Meanwhile, U.S. spot Ethereum ETFs attracted $218.4 million, also marking their third consecutive week of positive inflows. Their trading volume totaled $4.1 billion.
Overall, August was one of the strongest months for institutional crypto products in the past year. Net inflows into Bitcoin ETFs reached $3.52 billion—the highest since September 2025—while Ethereum ETFs received $1.85 billion, marking their best monthly performance since August of last year.
The shift in sentiment was even more pronounced in the third week of August, when Bitcoin ETFs attracted $1.9 billion, Ethereum ETFs—$697.2 million, and the combined turnover of both categories more than tripled—to $29 billion.
However, inflows remain uneven. Following a strong previous week, approximately $46.6 million was withdrawn from Bitcoin ETFs on September 8. Thus, institutional demand has resumed, but investors remain sensitive to macroeconomic data and expectations regarding U.S. interest rates.
Bitcoin itself corrected after rising above $81,000. According to CoinGecko, on September 9, it was trading at around $78,300, and the cryptocurrency’s market capitalization stood at approximately $1.58 trillion.
Spot Bitcoin ETFs allow investors to gain exchange-traded exposure to Bitcoin without having to store the cryptocurrency themselves. The largest players in the U.S. market are BlackRock, Fidelity, Grayscale, ARK/21Shares, and Bitwise.
Data source — SoSoValue/The Block: Bitcoin ETF flow data
The Greek government plans to increase the tax on the transfer of residential real estate for buyers from countries outside the European Union fivefold—from 3% to 15%. The new measure is set to take effect in 2027 and may directly affect, in particular, buyers from Ukraine if they do not fall into the categories eligible for exemptions under the law.
Greek Prime Minister Kyriakos Mitsotakis announced this decision during a speech at the 90th International Fair in Thessaloniki. On September 7, the government published a detailed description of the tax changes. The authorities explain the increase by the need to limit additional demand for housing from buyers in third countries, which, according to their assessment, contributes to rising prices and reduces the affordability of real estate for permanent residents of Greece.
Currently, the base tax on real estate transfers in Greece is 3% of the property’s taxable value, and when the municipal surcharge is included, the effective rate reaches 3.09%. For homebuyers subject to the new rules, the rate will be 15%, or about 15.45% including the municipal surcharge. Thus, when purchasing an apartment worth 300,000 euros, the tax burden could increase from approximately 9,300 euros to 46,350 euros, and for a property worth 500,000 euros—from 15,450 euros to 77,250 euros.
The increased rate applies specifically to residential real estate. According to the government’s clarification dated September 7, it should not apply to commercial properties, land parcels, or other categories of real estate.
However, not all citizens of non-EU countries will be subject to the increased rate. Exceptions are provided, in particular, for individuals with long-term resident status in Greece, certain citizens of Greek origin, recognized refugees, and holders of specific categories of residence permits. Citizens of the EU and the European Economic Area will also be exempt from the increased rate.
For Ukrainians, the implications of this new measure will depend primarily on their legal and tax status in Greece. Ukraine is not a member of the EU or the EEA, so a Ukrainian citizen purchasing a home as a regular buyer from a third country is potentially subject to the 15% rate. The government’s published clarification does not specifically state whether there will be a special exemption for Ukrainians residing in the country under the temporary protection regime.
Mitsotakis described the tax increase as part of a broader policy to curb housing costs. At the same time, the government intends to extend a number of measures to support the domestic market, including exempting new buildings from VAT, providing tax incentives for long-term leases of vacant properties, and imposing restrictions on new short-term rental properties in certain areas of Athens and Thessaloniki. The government also announced a new €2 billion subsidized housing loan program called “Spiti Mou III.”
According to Fixygen, the cryptocurrency market is ending the first week of September on an uptrend after significant volatility at the start of the week: Bitcoin has returned above the $81,000 mark, Ethereum has approached $2,500, and the total market capitalization has risen to approximately $2.81 trillion. The main driver of this movement was a shift in expectations regarding the U.S. Federal Reserve’s future monetary policy.
According to CoinGecko, as of midday on September 4, Bitcoin was trading at around $81,000, Ethereum at around $2,500, XRP at $1.44–1.45, and Solana at around $104. The total market capitalization of the cryptocurrency market stood at approximately $2.81 trillion, having increased by about 4.5% over the past 24 hours. Bitcoin accounted for about 58% of the market capitalization, while Ethereum accounted for about 11%.
The week started off much weaker. On August 31, Bitcoin was trading at around $78,600; on September 1–2, it fell to $77,000, but then rebounded sharply. On the night of September 4, the price rose to approximately $82,200—a high not seen in more than three months. Thus, compared to the start of the week, BTC has risen in price by about 3%, although the change over the past seven days remains significantly more modest—about 1%. (CoinGecko)
The main reason for the new surge was statements by Federal Reserve Board member Christopher Waller. Speaking on September 3, he said he was prepared to support keeping the interest rate at its current level if incoming data confirmed a further slowdown in inflation. At the same time, Waller did not rule out a rate hike if August inflation accelerates again. Following his remarks, pressure on the dollar and U.S. Treasury yields eased, which supported risk assets, particularly cryptocurrencies.
Ethereum showed more subdued price action throughout the week. After reaching a level of around $2,470 on August 31, ETH fell below $2,400, then recovered to approximately $2,500. XRP, after falling to $1.35, rose again to about $1.45, while Solana climbed above $100. On a seven-day basis, Ethereum and XRP are roughly flat, while Solana is down about 3%.
U.S. spot ETFs remain a key support factor for Bitcoin. Following a net outflow of about $236.5 million on September 1, the funds received about $101 million on September 2, and preliminary data for September 3 already indicates approximately $277 million in inflows.
In August, the total inflow into spot Bitcoin ETFs was estimated at approximately $3.52 billion. However, capital flows remain volatile and do not yet indicate a return to a sustained series of daily purchases.
The situation in the Ethereum market is less clear-cut. On September 2, U.S. spot Ethereum ETFs recorded a net outflow of about $48 million, breaking a streak of 12 trading sessions with inflows, during which the funds attracted about $1.62 billion. This partly explains ETH’s weaker performance compared to Bitcoin in early September.
Among large and mid-cap cryptocurrencies, Zcash stood out as the most notable exception this week: according to CoinDesk, as of September 4, the coin had risen by approximately 20% over seven days and about 15% over the past 24 hours. Hyperliquid also significantly outperformed most major crypto assets.
In the coming days, the market will remain primarily dependent on U.S. macroeconomic data. On September 4, the U.S. Department of Labor is set to release the August employment report, and the Consumer Price Index (CPI) will be released on September 11. These figures will be particularly important ahead of the Fed meeting on September 15–16. The official BLS calendar confirms the release of August labor market data on September 4 and the Consumer Price Index (CPI) on September 11.
The base case scenario for Bitcoin in the near term is that it will remain within a range of approximately $76,000–$83,000. The $76,000–$77,000 zone acted as support several times earlier this week, while the $82,000 level has already become the nearest resistance. A sustained move above $82,000–$83,000, coupled with continued capital inflows into Bitcoin ETFs, could pave the way toward the $85,000–$88,000 level. In the event of strong U.S. inflation or labor market data that once again increases the likelihood of a Fed rate hike, a return to the $76,000–78,000 range becomes the most likely scenario. A break below this support level would significantly worsen the short-term technical picture.
For Ethereum, the $2,400–$2,550 range remains key. A confident break above $2,550 could allow the market to test $2,700–$2,800; however, this would require not only a rise in Bitcoin but also a resumption of a steady inflow of capital into the Ethereum ETF. If sentiment deteriorates, a pullback below $2,400 will once again bring the $2,250–2,300 zone into focus.
Thus, the first week of September has not yet become a full-fledged continuation of August’s strong rally. Rather, the market has entered a phase of testing the levels reached: Bitcoin appears stronger than most major altcoins, institutional demand remains steady, but capital flows through ETFs are volatile. The main drivers for the crypto market over the next two weeks will be U.S. inflation, the Fed’s decision, and Bitcoin’s ability to hold above $82,000.
The Experts Club analytical center analyzed data from the international consulting firm Savills on real estate market trends in the world’s leading countries and identified a number of trends in the European real estate market in 2026.
Investment in European real estate reached 54 billion euros in the second quarter of 2026, up 7.7% year-over-year, according to Savills data.
Despite the overall increase in transaction volume, Savills characterizes the recovery of the European market as uneven. Escalating macroeconomic and geopolitical risks have forced investors to raise their standards for property quality.
Capital is now primarily directed toward real estate that provides a stable cash flow, has a transparent market value, and is located in segments with long-term structural demand.
One of the main beneficiaries of this new investment strategy has been so-called “living real estate.”
In the first half of 2026, multifamily rental housing, specialized student dormitories, senior living facilities, and housing for the elderly already accounted for 29% of all real estate investments in Europe.
Thus, nearly one in every three euros of institutional capital directed toward European real estate went to properties directly related to residential living.
The growing interest in this sector is linked to a housing shortage in many major European cities, rising rents, demographic changes, and relatively stable income streams compared to some traditional types of commercial real estate.
At the same time, investor attitudes toward office properties are shifting. High-quality, modern office buildings in central business districts remain in demand, while outdated and poorly located properties are significantly harder to sell or finance.
According to Savills, the market is effectively divided into two types of assets. In the first category, investors are willing to compete for high-quality properties with reliable tenants and predictable income. In the second, real estate with a poor location, high future costs, or uncertain demand may remain outside the scope of investment interest for a long time.
Savills notes that Europe remains an important destination for global capital, but investment requirements have become significantly stricter.
Markets where a significant price correction has already occurred and a clearer entry point for investors has emerged have the best chances of attracting capital. An additional advantage is the limited supply of new properties and stable demand from tenants.
“The recovery is taking place in stages and is driven by investor confidence in specific deals, rather than a general willingness to take risks,” note Savills analysts.
Thus, the European real estate market is gradually emerging from a period of sharp interest rate hikes and asset revaluation; however, the new investment cycle differs significantly from the previous one. Capital is increasingly being directed not simply toward real estate as an asset class, but toward specific segments with the most predictable long-term demand.
Source: Savills, Global Capital Markets Research Q2 2026 — Europe.
