Saturday, July 2, 2022

Poland Confirms Russia To Halt All Gas Delivery Wednesday If Payment Not Settled In Rubles

from ZeroHedge:

Update(1340ET): Following initial reports from Poland’s largest news portal Onet that Russian natural gas delivery to Poland had been suspended, Gazprom denied that it had at this point stopped flows. However, it quickly said that it will halt gas deliveries starting tomorrow. But at this point gas from Russia is not flowing via the Yamal pipeline, disrupting delivery to Germany

Are France and NATO Shipping Depleted Uranium Weaponry Into Ukraine?

from 21st Century Wire:

During a phone call with Ukrainian President Volodymyr Zelensky this past week, President Emmanuel Macron insisted that France would step up its military and humanitarian support for Ukraine.

There is no question that Macron is committed in this respect. Following his re-election during the final round against challenger Marine Le Pen, he was adamant about his desire to work actively during his second term to restore Ukraine’s sovereignty and territorial integrity, while always maintaining close coordination with his European partners and allies. He also indicated France’s readiness to contribute to an agreement that provides security guarantees for Ukraine.

NOW – Biden bans all imports of Russian oil and gas into the US.

Russia Fires a Big Warning Shot, Gas Sanctions On the EU

by Mish Shedlock, Mish Talk:

Natural-gas prices jump 14% in Europe after Russia sanctions some energy companies.

Natural Gas Prices Soar in Europe

Please consider Natural-Gas Prices Soar in Europe After Russia Sanctions Energy Companies.

Natural-gas prices in Europe shot higher Thursday, a day after Russia unveiled a set of sanctions on energy companies operating on the Continent that could further threaten supply.

Welcome To The Greatest Energy Crisis In History – Things Will Only Get Much More Painful From Here

by Michael Snyder, The Economic Collapse Blog:

Just as the western world was accelerating the transition away from traditional forms of energy, the COVID pandemic caused the most epic supply chain crisis in history, and now the largest land war in Europe since World War II has thrown global energy markets into a state of complete and utter chaos.  And if you think that things are bad now, just wait until a huge war erupts in the Middle East.  Energy prices are ridiculously high now, but they will eventually go much higher than this.  Needless to say, skyrocketing energy prices will have a catastrophic impact on worldwide economic conditions during the troubled months and years ahead of us.

Ukraine Cuts Off Key Russian Natural Gas Pipeline Supplying Europe

by Chris Menahan, Information Liberation:

Now that Ukraine has secured a whopping $53 billion in military and economic aid from the US in just three months, the Zelensky regime is moving to plunge Europe into chaos in the name of fighting the Russkies.

From VOA News, “Ukraine Cuts Off Russian Natural Gas Pipeline Supplying Europe”:

The fight for Ukraine played out beyond the battlefields on Wednesday, with Kyiv cutting off one Russian natural gas pipeline that supplies European homes and industry, while a Moscow-installed official in southern Ukraine said the Kremlin should annex Kherson after Russian troops took control.

Video: Biden Admits Sky Rocketing Energy Prices Are Part Of Green “Transition”

by Steve Watson, Summit News:

“We’re going through an incredible transition”

Joe Biden let the veil slip Monday, telling reporters gathered at a press conference in Tokyo that unaffordable gas prices in the U.S. are part of a deliberate “transition” to green energy.

Suddenly, Vladimir Putin isn’t to blame anymore as a reporter asked if a U.S. recession is unavoidable.

First Shipment of Russian Coal Paid in Yuan on Its Way to China

from The Epoch Times:

The first shipments of Russian coal and crude oil, paid for in yuan, will arrive in China in April and May, respectively. Chinese state media used the opportunity to denigrate the United States, claiming that the international status of the U.S. dollar is “at risk.” However, financial expert Albert Song believes that it will not affect the U.S. dollar’s status as the leading global reserve currency.

Fenwei Energy Information Service Co., China’s leading information and service provider to the coal and coke industries, revealed that several Chinese companies purchased Russian coal in Chinese currency in March, and the first shipment would be made in April. This is also the first shipment of Russian commodities paid in yuan to arrive in China after Russia was sanctioned by Western countries.

The Fed Is Taking The Punch Bowl Away – But The Inflation Crisis Will Continue To Grow

by Brandon Smith, Alt Market:

Four years ago the overall sentiment among most alternative and mainstream economists was that the Federal Reserve would NEVER hike interest rates, taper stimulus or reduce their balance sheet into economic weakness. In fact, this was one of the few viewpoints that the mainstream media and independent economists actually agreed on. A few of us had different ideas, though.

The argument is based on a dangerous assumption – That the Fed’s goal is purely to prop up and extend the lifespan of the US economy and stock markets. If you have been tracking equities in the Dow or the Nasdaq for the past decade, then that might seem like a safe bet. For several years the central bank has consistently added stimulus or cut rates whenever stocks started to drop more than 10%, and this is what launched that famous investor mantra “Buy The F’ing Dip.” It was a sure thing; all you had to do was buy stocks after a correction of around 10% and the Fed would come in to save the day with more inflationary QE.

Sri Lanka Debuts Phone App to Enforce Gasoline Rationing

by Frances Martel, Breitbart:

The Minister of Power and Energy of Sri Lanka announced on Thursday that the socialist government would implement the use of a mobile phone app to monitor how much gasoline, diesel, and other fuel citizens purchase to prevent hoarding.

Minister Kanchana Wijesekara claimed that police nationwide were already testing the app, designed to “share real-time data with filling stations island-wide” so that drivers could not evade national rations, according to Sri Lankan news outlet Ada Derana.

JUST IN – Russia to cut off more gas buyers that don’t pay in rubles, Kremlin says.

European gas importers quietly surrender to Russia and begin buying gas in RUBLES… while the West’s economic warfare scheme disastrously BACKFIRES

by Lance D Johnson, Natural News:

When the Russian military crossed into Ukraine and Vladimir Putin stated his military objectives there, European leaders were quick to escalate the situation, imposing sweeping economic and banking sanctions against the Russian people. These sanctions caused a domino effect of unintended consequences throughout Europe and the West.

The United States, Canada and Europe put up a tough, “united front” against Russia, but as their trade war against Russia escalated, supply chains were threatened and prices for valuable commodities increased throughout the West. European leaders talked a big talk against Vladimir Putin from the start, making empty demands without having much leverage at all. Russia responded to the sanctions by demanding that hostile nations in the West pay for Russian energy supplies with gold or Russian rubles. Vladimir Putin called Europe’s bluff and exposed the vulnerabilities of the West.

Germany Prepares for Gas Rationing as Russia Cuts Off Supplies to Finland

by Kurt Zindulka, Breitbart:

German industry is reportedly preparing to institute gas rationing in Europe’s largest economy as Vladimir Putin’s Russia cut off shipments to Finland, which has launched an application to join the NATO military alliance.

The Federal Network Agency of Germany, locally known as the Bundesnetzagentur (BNetzA), is reportedly drafting action plans to implement gas rationing in response to Russian leader Vladimir Putin’s demands that unfriendly nations purchase natural gas from Moscow in rubles rather than Western currencies such as the dollar or euro.

Report: ’10 EU Countries Quietly Buying Gas for Rubles’

from 21st Century Wire:

Ever since Moscow announced its new oil and gas payment mechanism for European energy clients, western governments have been giving mixed messages in public as to whether or not they would be complying with Moscow’s controversial new “rubles for gas” procedure. There are two main reasons why they are reticent to advertise their intentions on this hot button issue.

The chief reason for the trepidation from the European clients is over the question of whether these new transactions fall foul of EU sanctions against Russia. Because the new Gazprom Bank payment procedure requires the client to transfer from their Gazprom euros account into its paired Gazprom rubles account, then technically speaking, the Russian Central Bank (RCB) is involved in facilitating the transaction – and the RCB is a sanctioned entity. While the European Commission had already intimated that paying for gas in rubles would be fine, subsequently confusion and bickering amongst member states and Brussels has set in, with EU head, Ursula Von Der Leyen, subsequently panicking over the prospect of EU sanctions-busting states resuming Russian gas imports.