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Russia’s Oil and Gas Revenues Surged by 73.5% in January-May
Russia’s Oil and Gas Revenues Surged by 73.5% in January-May Russia’s budget revenues from oil and gas soared by 73.5% in January-May of 2024 compared to the first five months of 2023, according to data from Russia’s finance ministry released on Monday. Between January and May 2024, the revenues for the Russian federal budget from […]
Russia Confiscates €800 Million From Deutsche Bank, Unicredit And Commerzbank
Russia Confiscates €800 Million From Deutsche Bank, Unicredit And Commerzbank After two years of being on the receiving end of a weaponized global reserve currency, getting booted from SWIFT, countless (toothless) sanctions and watching some $350 billion of its assets be frozen and soon confiscated, Moscow has had enough, and over the weekend the FT reported that a […]
Ukraine War Funding and Failed Russian Sanctions. Is the US Empire Shooting Itself in the Foot?
Ukraine War Funding and Failed Russian Sanctions. Is the US Empire Shooting Itself in the Foot? *** This past weekend, April 20, 2024 the US House of Representatives passed a bill to provide Ukraine with another $61 billion in aid. The measure will quickly pass the Senate and be signed into law by Biden within days. […]
Russia Is Struggling to Repair Refineries Due to Sanctions
Russia Is Struggling to Repair Refineries Due to Sanctions Due to the sanctions, Russia cannot access spare parts from Western engineering companies that have provided refinery equipment in the past, leaving Russian refiners struggling to repair damaged units, multiple industry sources in Russia have told Reuters. Western firms including America’s UOP and Swiss ABB have supplied […]
Iraqi parliament calling to ditch US dollar for oil trade
Iraqi parliament calling to ditch US dollar for oil trade Washington has exercised strict control over Iraqi oil revenues for the past two decades (Photo credit: INA) The Finance Committee in the Iraqi parliament made a statement on 31 January calling for the sale of oil in currencies other than the US dollar, aiming to counter US […]
How Europe’s Energy Crisis Could Turn Into A Food Crisis
How Europe’s Energy Crisis Could Turn Into A Food Crisis Runaway energy inflation has taken a toll on European industry, but another threat is looming. Europe’s two biggest fertilizer suppliers, Russia and Belarus have retaliated against European sanctions by cutting off fertilizer exports. The fact remains that the global food chain, especially its European links, […]
Oil Prices Are Primed To Spike This Winter
Oil Prices Are Primed To Spike This Winter The EU embargo on seaborne Russian crude oil exports and the G7 price cap on Russian oil are both less than a month away. While a global economic slowdown and weak oil demand in China have capped prices, looming supply disruptions will likely send oil prices higher. […]
War; Economic War; War; Military; War; Economic War – Do You Spot A Pattern?
War; Economic War; War; Military; War; Economic War – Do You Spot A Pattern? The times are not just a-changin’ – they have changed. Let’s take six of the top seven headlines in the Financial Times this morning in Asia as Exhibit A: ‘Biden claims oil companies are ‘war profiteering’ as he floats windfall tax’ ‘The […]
Energy Shock
ENERGY SHOCK The world is in energy shock. European imported coal prices increased 421% before Russia invaded Ukraine. German electric power price increased 518%. European natural gas jumped 765% and Asian spot LNG, 957%. Since then, it’s gotten even worse. U.K. natural gas futures price has increased +$99.86 (+574%) from $17.41 to $117.27 per mmBtu […]
Europe Cannibalized
Europe Cannibalized Abandoned industrial building. Image credit: Pixabay Europe is in the process of losing its industry. It didn’t start this year, it was already going on for decades now. However, in 2022 the process has switched from a long slow grind to a considerably higher gear. Energy is the economy. This is the key point in […]
Russia Admits Weaponization Of Gas, Halts NS1 Shipments “Until Sanctions Lifted” As EU Prepares Response To Energy Crisis
Russia Admits Weaponization Of Gas, Halts NS1 Shipments “Until Sanctions Lifted” As EU Prepares Response To Energy Crisis Putin is done playing around. Two days after Russia indefinitely halted nat gas supplies via the Nord Stream 1 pipeline for the amusing reason that there was an “oil leak” (shown below)… … on Monday Russia finally admitted what […]
German Consumers Just Learned How Much Extra They Will Have To Pay For Gas This Winter
German Consumers Just Learned How Much Extra They Will Have To Pay For Gas This Winter With millions of German facing a painful freeze in the coming months, a winter gas surcharge, which will come into effect in October for German households and businesses, was set at 2.4 euro cents per kilowatt hour on Monday, DW […]
Germany’s Energy Crisis About To Get Even Worse As Rhine Water Levels Plummet
Germany’s Energy Crisis About To Get Even Worse As Rhine Water Levels Plummet What has already been a year from hell for Germany, which is suffering energy hyperinflation as a result of Europe’s sanctions on Russia, and which is “facing the biggest crisis the country has every had” according to the president of the German […]
