Economic sanctions

**harrybarracuda** · 06-07-2022, 12:10 PM

Originally Posted by sabang

Followed by Doctor Emiritus 'arry. Comedy duo. Thanks again.

If you didn't keep posting this ridiculous fucking nonsense we wouldn't have anything to talk about, so blame yourself.

**HermantheGerman** · 06-07-2022, 12:39 PM

Originally Posted by sabang

Reprinted from The Ron Paul Institute for Peace & Prosperity.

Ohh sweet jeezus, our little bang bang is now our new Jester

Sorry Backspin you are fired.

**OhOh** · 07-07-2022, 01:16 PM

China Queues Up to Join the Davos Beatdown

Date: July 5, 2022

Author: Tom Luongo

"The headlines are full of abject terror that Germany’s vaunted industrial base can collapse, and with it the banking sector, if Russia pulls all natural gas supplies.Of course, this is exactly what the EU said they wanted, and the question now is will they get it, to quote H.L. Mencken, “good and hard.”

So, finally, after destroying their own economy, the politicians in Europe are considering the right question, “Did we do this to ourselves?”

The Euro’s collapse this morning to a new twenty-year low below $1.03 is answering a resounding, “Yes. Yes you did.” I’m sure the board at Uniper, now staring at a $9+ billion bailout after Vice-Chancellor Robert Haebeck and the rest of his Green/Neocon zealots destroyed their investment in the Nordstream 2 pipeline, would agree with the market.
And so much of this is because now the markets are fully handicapping a global recession based on a spate of terrible economic news, including Germany running a trade deficit in May for the first time in 30 years.

So much for that argument that Europe has a positive cash flow statement and can’t/won’t break down because of it, c.f. my podcast from February with Peter Boockvar.
But to understand why things are accelerating this quickly, beyond the Fed’s hawkishness, I think it’s high time we look at what China’s role in this is and will be.

There’s been a lot of discussion about China’s lockdown policy since the beginning of the War in Ukraine.

What did it mean? Are they seriously paranoid or was this their very Chinese way of supporting Russia’s efforts in Ukraine by exacerbating the massive supply chain breakdown created by Davos’ Coronapocalypse? You know I side with the latter position.
So, after a successful BRICS Summit which saw both Iran and Argentina apply for member status (and China inviting Saudi Arabia to join it and the SCO), China announced a week ago they are loosening the COVID restrictions on foreign travelers into the country.

China unexpectedly slashed quarantine times for international travelers, to just one week, which suggests Beijing is easing COVID zero policies. The nationwide relaxation of pandemic restrictions led investors to buy Chinese stocks.

Inbound travelers will only quarantine for ten days, down from three weeks, which shows local authorities are easing draconian curbs on travel and economic activity as they worry about slumping economic growth sparked by restrictive COVID zero policies earlier this year that locked down Beijing and Shanghai for months (Shanghai finally lifted its lockdown measures on May 31).

The result is, as Zerohedge pointed out at the time, the return of capital inflow to China’s equity markets on the announcement. But the markets had been forecasting capital flight into China for weeks since bottoming in April.

That said, this is a perfect example of what I talk about all the time with respect to potential changes in the US political situation. Markets are always looking for changes in intentions by the political class.

These little changes are seen by traders and investors as edges to be played. They may not pan out, but are bets based on a probability calculation of a state change in public policy.

To this end, Fungal Joe is going to lift the Trump tariffs on Chinese imports this week to buy votes by hoping inflation moderates. I’m okay with him doing this trying to right the ship. Tariffs are never the answer, just like sanctions. Notice also this has zero to do with monetary policy and everything to do with supply disruptions caused by government diktat.

This change by China signals an intention by the CCP to open China back up to tourism and business development that isn’t likely to be reversed. I expect this to be real and for China to make even more little moves like this as the summer drags on and markets churn in the West.

With that change, capital inflow lessens the pressure on both the Hong Kong dollar (HKD) and the Hang Seng while giving China more cover to loosen monetary policy without necessarily raising rates and creates another place for capital to flow now that the ECB has capitulated.

Christine Lagarde’s recent statements about fighting inflation being “more art than science” is just saying the quiet parts out loud. But it was what came out of the ECB’s emergency meeting a couple of weeks ago that finally signaled the end for the euro in the minds of investors.

Not only is Germany’s industrial base being literally destroyed gleefully by its government, now the ECB is going to sell German debt to buy Italian and Spanish debt to keep from drowning. This is akin to bailing water out of one end of the boat only to throw it in the other end.

Couple these things with the frankly, disastrous G-7 Summit where the biggest collection of unserious buffoons gathered to ban the sale of Russian gold and contemplate a global price cap on oil.

… words fail me.

Honestly, after this G-7 the rush into the BRICS Alliance as well the Eurasian Economic Union (EAEU) will be unstoppable. What serious investor with real capital appreciation goals is going to look at this group of committed (and committable) lunatics and think, “Yes! I can trust my money with Boris Johnson, Joe Biden and Ursula Von der Leyen!”

No, they are looking at this crap and opening up Tradestation.

The fact that Justin Trudeau was even invited should have been your sell signal.
While the BRICS were talking about a new trade settlement currency and adding members, the G-7 was talking World War III while getting caught spending more time on photo ops than substantive dialogue.

Unserious people with sophomoric ideas and an antiquated sense of their global importance (especially true of the UK and Germany) is not a recipe for global capital inflow over the long term.

When you look at the fragility of the EU, the UK, and Canada you realize that the only thing propping up global markets at this point is the hope that the U.S. mid-terms are a complete refutation of the Davos agenda.

If that doesn’t happen, if somehow Soros and Davos steal enough seats and put a bunch of RINOs back into Congress and the Senate to freeze any reform of Washington D.C. the collapse of the West will accelerate very quickly.

Again, go back to what I said at the outset, the markets are looking for early indicators, edges, they can play to front run a big change in a country’s domestic/foreign policy.

If the US has an honest political revolution in November replete with the stirrings of entitlement reform and fiscal sanity while the Fed continues raising rates, then that would be a massive buy signal for not only the US but also China.

If not the US begins its collapse and happens for multiple reasons.

The first is obvious. Insane Progressives and Commies will be emboldened to destroy what’s left of the Rule of Law in the US.: pack the SCOTUS, ban guns, etc.
That will send capital fleeing to relatively safe places like Pakistan.

The second is almost as obvious. It will confirm and solidify for a critical mass of people that the government is irredeemable and it’s time for either a new convention of States, per my recent conversation with Bill Fawell, or secession as the only real options left.

Because when all peaceful means of revolt are taken away from people, violence ensues.

While these evil people think they are unassailable, the reality is that they are not. If you doubt me, go look at video of the Dutch Farmer’s Revolution for confirmation of just how angry people truly are.

None of the issues surrounding the Dems have worked at this point.
No amount of SSRI-addled, known-to-law-enforcement-enabled shootings will roll out gun control in the US.

No amount of screeching from unfuckable purple-hairs will bring back Roe v. Wade.

No amount of sexual deviance at the public schools will usher in legalized pedophilia.
These are the positions Democrats have staked their future as a party on and most of America is sincerely fed up with it while their businesses are looted, their bank accounts are emptied and their kids sexually-assaulted at school by strippers.

This is why I fully expect voter fraud costs to soar this November and for the 2000(00) Mules strategy to fail as a result. Proud Boys and Oathkeepers will gladly stand outside drop boxes looking for some douchebag with a handful of fake ballots to “question.”
This means they will just print votes out of thin air, but they can only really do that in places like California.

China opening back up for business is good news. Ending COVID restrictions are necessary to shifting the flow of capital from mattresses back into the global economy. But it won’t happen fast enough without a political revolution in the US to stave off a year or two of messy activity as supply chains reroute.

If China opens up more and the mid-terms are a blowout for normal people there is ample room for the Fed to keep going higher with rates from a US gov’t budget perspective. A good article recently from Wolf Street reminds us (and me) that only new debt is subject to the higher rates the Fed is now charging.

We have historically low debt servicing costs.

The budget is still a mess and it’s why entitlement reform is the key political issue going forward. So, if Soros wins this fall and Davos remains firmly in control of Washington, then there is no hope for America’s future as a 50-state compact. They will burn the rest of this country to the ground before giving up control of it.

Even if the mid-terms go well, the transition period before the new Congress is sat will be horrific.
Between now and then expect them to push a NATO casus belli in Ukraine on us to try and save Biden’s Depends budget, Johnson’s terrible hair and Scholz’s saggy man boobs.
This is how they will counter China moving to attract capital, by starting another war.

The problem for all of them is that China ultimately wins either way. All they will do is delay the inevitable because as I pointed out the other day, there isn’t the productive capacity TODAY to fight a two-front war in Europe and the Pacific.

If NATO moves on Russia, China will move on Taiwan. The Russians are salivating at the prospect of the Brits coming in to fight them in Ukraine to free up the US to take on China.

And the West will lose both wars simultaneously, on the off-chance the whole thing doesn’t go nuclear. I do believe pushing the US into political crisis is the ultimate Davos play here. The problem is, since Putin moved on Ukraine the way he did, there is no pulling that off without atomizing Europe in the process.

So, for once, Davos is staring at a Hobson’s Choice rather than their victims. That Vlad, what a card!
China doesn’t want war with the US anymore than Russia does. So opening up China’s economy and Biden lifting tariffs here are the right capital-attracting moves to force even more instability on Europe.

If we avoid WWIII, along with the Fed putting Congress in a fiscal straightjacket, then we can effect real political change in the US

Everyone wins.

I do believe this is the single most important point every other analyst has missed over the past couple of years. The point of beating Davos is to stop WWIII, stop the messy dissolution of the US which would be a catastrophe for everyone, and end the cycle of violence which has emanated from the European colonial powers for centuries.
The US can survive this fiscally and politically. The SCOTUS just flipped off the commies. The people are rejecting woke anti-storytelling like Lightyear and nearly everything Netflix and Amazon produce.

Seen recently in the Financial Times, even Blackrock is seeing the light.

This tells me that Blackrock’s balance sheet is in serious trouble. It tells me their AUM is falling and their ESG/DEI strategy is gutting the company from within. I wouldn’t doubt for a second that Larry Fink bet the farm on Obama/Schwab getting rid of Powell and now they are staring at a collapse as Powell says, “My turn.”

For all of their power, this is still a company with just $36 billion in shareholder equity. Apple sells that many iPhones in 2 months

I’d love nothing more than to see Blackrock become the next Lehman Moment. I’m sure most of Wall St. wouldn’t either. There is blood in the water folks and the sharks are circling Europe. Maybe Jamie Dimon will change his middle name to Bruce just to make the point clear to everyone.

I’m sad I gave up popcorn."

https://i0.wp.com/tomluongo.me/wp-co...ng?w=678&ssl=1

**OhOh** · 07-07-2022, 02:32 PM

Mainly sanctions related and how they're backfiring, some may notice THE LORD'S words:

"at a meeting with Defence Minister Sergey Shoigu, revealed proposals of army commanders in Ukraine “for the development of offensive operations”

Posted on July 5, 2022 by M. K. BHADRAKUMAR

EU economies are down on their knees

Russian President Vladimir Putin (L), at a meeting with Defence Minister Sergey Shoigu, revealed proposals of army commanders in Ukraine“for the development of offensive operations”,

Moscow, July 4, 2022

"On July 1 at the White House, US President Joe Biden made a startling disclosure that “the idea we’re going to be able to click a switch, bring down the cost of gasoline, is not likely in the near term.”
American gas exporters have positioned themselves accordingly to fill the gap as Europe turns away from Russian imports. FT reported recently that “US liquefied natural gas producers have announced a string of deals to boost exports as the industry capitalises on shortages that have left Europe with a mounting energy crisis.”

The deals are so lucrative that Cheniere, America’s leading gas exporter, has taken an investment decision to push ahead with a project that will boost its capacity more than 20 per cent by late 2025, anticipating long-term supply deals and locked in purchases of US gas over the coming decades. The US producers of gas are reportedly running plants flat-out to increase supplies to the EU.

The US has overtaken Russia for the first time as Europe’s top gas supplier. Although LNG from the US is sold to Europe at much higher costs than pipeline gas from Russia, EU countries have no choice.

With Russian supply via Nord Stream at just 40% of capacity, and deliveries to be halted completely for annual maintenance on July 11-21, the outlook for near-term Russian gas supply to Europe appears bleak.

Germany has warned of the risk that Nord Stream gas may not return at all following the maintenance. At any rate, Russian supply to Europe is at record lows and is “set to remain constrained through the third quarter,” per S&P Global.

Germany is heading for a major economic crisis. The head of the German Federation of Trade Unions has been quoted as saying in the weekend, “Entire industries are in danger of collapsing forever because of the gas bottlenecks — especially, chemicals, glass-making, and aluminium industries, which are major suppliers to key automotive sector.” Massive unemployment is likely. When Germany sneezes, of course, Europe catches cold — not only the Eurozone but even post-Brexit Britain.

Welcome to the European Union’s “sanctions from hell.” The US literally hustled the Europeans into the Ukraine crisis. How many times did Secretary of State Antony Blinken travel to Europe in those critical months in the run-up to the Russian invasion of Ukraine to ensure that the door to any meaningful talks with the Kremlin remained shut! And American energy companies are today making windfall profits selling gas to Europeans. Won’t Europeans have the common intelligence to realise they have been had?

Now, Biden has washed his hands off the gas crisis. He brusquely stated at a press conference in Madrid on June 30 that such premium on oil prices will continue “as long as it takes, so Russia cannot, in fact, defeat Ukraine and move beyond Ukraine. This is a critical, critical position for the world. Here we are. Why do we have NATO?”

Biden’s counterfactual narrative is that the sanctions against Russia are going to work eventually and a long war in Ukraine would be Russia’s undoing. The US narrative is that if you look under the hood of the Russian economy, it may not be flexible and resourceful enough to develop an entrepreneurial bunker spirit and adopt new business models to neutralise the sanctions. Biden is convinced that Russian economy is in the grip of industrial mafias that are not very innovative and, therefore, there aren’t many options for Russia under the western sanctions.

Biden said in Madrid: “Look at the impact that the war on Ukraine has had on Russia… They’ve (Russians) lost 15 years of the gains they made in terms of their economy… They can’t even — you know, they’re having — they’re going to have trouble maintaining oil production because they don’t have the technology to do it. They need American technology. And they’re also in a simi- — similar situation in terms of their weapons systems and some of their military systems. So they’re paying a very, very heavy price for this.”

But even if that’s the case, how does all that help the Europeans? On the other hand, President Putin’s strategic calculations with respect to the war remain very much on track. Russian forces made indisputable progress in establishing full control over Luhansk. On Monday, Putin gave the green signal to a proposal from the army commanders to launch “offensive operations.” Five months into the war, Ukrainians are staring at defeat and Russian army generals know it.

Russia didn’t wander into Ukraine unprepared, either. Evidently, it took precautionary steps both before and since the war to shield its economy. And this enables the Russian economy to settle down to a “new normal”. Washington’s options are quite limited under the circumstances. Fundamentally, western sanctions do not address the causes of the Russian behaviour, and therefore, they are doomed to fail to solve the problem at hand.

To be sure, Putin has some nasty surprises in store for Biden closer to the November mid-term elections. Biden blithely assumes that he controls all the variables in the situation. Schadenfreude is never a rational basis for statecraft.

Yesterday, the strategically important Kherson region bordering Crimea formed a new government with the First Deputy Prime Minister of Russia’s Kaliningrad region heading the cabinet and Russian nationals among his deputies. Now that HIMARS multiple launch rocket system, contrary to Biden’s promise, is blasting Russian cities, expect some major Russian retaliation.

The pathway of Russia’s offensive operations is being relaid to include Kharkov and Odessa as well, apart from Donbass. The influential Kremlin politician and chairman of Duma Vyacheslav Volodin said on Tuesday,

“Some people are asking what our goal is and when all this will end. It will end when our peaceful cities and towns no longer come under shelling attacks. What they are doing is forcing our troops not to stop on the borders of the Lugansk and Donetsk republics (Donbass) because strikes (on Russian regions) are coming from the Kharkov regions and other regions of Ukraine.”

How long does Biden think the Europeans will want to be involved in a protracted proxy war with Russia? Bild reported on Sunday that 75% of German respondents see recent price hikes as a heavy burden, while 50% said they feel their economic conditions are worsening; every second German fears a lack of heating this coming winter due to reduced Russian gas supplies and rising inflation in the European Union.

Yet, Biden says war will go on “for as long as it takes” and fuel shortage will continue “for as long as it takes.” The European economy is expected to start contracting over the course of the second half of 2022 and the recession may continue until the summer of 2023 at least.

Analysts at JP Morgan Chase, the US investment bank, said last week that Russia could also cause “stratospheric” oil price increases if it used output cuts to retaliate. It said, “The tightness of the global oil market is on Russia’s side.” Analysts wrote that prices could more than triple to $380 a barrel if Russia cut production by 5m barrels a day.

Putin’s decree last week is ominous — the Kremlin taking full control of the Sakhalin-2 oil and gas project in Russia’s Far East. State-owned Gazprom held a 50% plus one share stake in the project and its foreign partners included Shell (27.5%), Mitsui (12.5%), and Mitsubishi (10%). The decree stipulates that Gazprom will keep its majority stake, but foreign investors must ask the Russian government for a stake in the newly created firm within one month or be dispossessed. The government will decide whether to approve any request.

This will unsettle energy markets further and put more strain on the LNG market, and can be seen as a move to put more pressure on the West by concurrently restricting gas supplies to Europe and creating more demand for LNG in Asia that will draw off supplies currently going to Europe. Sakhalin-2 supplies circa 4% of the global LNG market!

The only part of the US agenda that is going well seems to be the unspoken part of it: the very same Anglo-American objectives that Lord Ismay once predicted as the rationale behind the NATO’s existence —

”to keep the Russians out, the Americans in, and the Germans down.”

https://www.indianpunchline.com/eu-e...n-their-knees/

**harrybarracuda** · 07-07-2022, 02:59 PM

More more nonsense from the jingly brown noser.

**bsnub** · 07-07-2022, 03:04 PM

Originally Posted by harrybarracuda

More more nonsense from the jingly brown noser.

Does he actually think that anyone aside from the other Three Stooges read his propaganda drivel?

**harrybarracuda** · 08-07-2022, 09:04 AM

Originally Posted by bsnub

Does he actually think that anyone aside from the other Three Stooges read his propaganda drivel?

Probably. I normally skip to the link. If it's one of his useless witless wanker links I skip it. Which means I rarely read any of his crap.

**sabang** · 08-07-2022, 10:53 AM

Economists are improving forecasts for the year, according to the report

Russia appears to be on track for a much shallower recession than was initially expected this year, Bloomberg reported on Wednesday, citing experts. Surging oil shipments have blunted the impact of US and EU sanctions, they say.

According to the publication, economists from JPMorgan Chase, Citigroup, and other big banks are slashing their outlooks for the drop in output this year to as little as 3.5%. Russian officials, some of whom foresaw a contraction of as much as 12%, are now preparing to update their forecasts to less than half of that.

“The boxer is now moving again after being knocked down,” chief economist at Moscow-based credit assessor Expert RA Anton Tabakh told the outlet. “There was a knockdown, but it’s been offset substantially by comfortable export prices, even with the discounts, and the budget’s capacity to pour money on the problem.”

The economy is still “facing the sharpest contraction since at least 2009,” Bloomberg claimed, adding that the government’s “quick moves to stabilize the currency in the first weeks after the war prevented a financial crisis and a flood of export earnings followed.”

Seasonally adjusted data from the Development Center at Moscow’s Higher School of Economics showed industrial production in Russia was up 1.7% in May from the previous month. “The break in the contraction in May could be a sign that producers have initially adapted to the shock of anti-Russian sanctions,” the center said.

Economists pointed out that a rebound in oil production as a result of growing domestic demand and a shift to export buyers in Asia has been a big driver for the Russian economy. Gas output was another key economic engine, fueling revenue gains on spiking prices.

“We are not at the level of stress that we had assumed for 2022,” Rosbank economist Evgeny Koshelev told Bloomberg. “We should expect better trends because both budget and monetary policies are overall stimulative.”

Russian economy more resilient than expected – Bloomberg — RT Business News

**harrybarracuda** · 08-07-2022, 01:52 PM

Same goes for sabang really. Just a witless propaganda cut and paste merchant with no original thoughts whatsoever.

**sabang** · 08-07-2022, 03:02 PM

Just spreading propaganda from JP Morgan, Chase and Citi.

**harrybarracuda** · 08-07-2022, 06:29 PM

Originally Posted by sabang

Just spreading propaganda from JP Morgan, Chase and Citi.

No, the Russia Today version you thick twat.

**Norton** · 08-07-2022, 06:37 PM

Originally Posted by harrybarracuda

No, the Russia Today version you thick twat.

Same, same not different.

Putin Dodges Worst of Economic Pain as Oil Eases Sanctions Hit - Bloomberg

**sabang** · 08-07-2022, 06:41 PM

^^ Finally sinking through that the sanction aren't working thicko?

You must really be feeling the pinch when you fill your Honda Wave.

**harrybarracuda** · 08-07-2022, 06:48 PM

Originally Posted by sabang

^^ Finally sinking through that the sanction aren't working thicko?

You must really be feeling the pinch when you fill your Honda Wave.

Thankfully doesn't affect me, but it's telling that you gloat about the effects of the war criminal whose arse has your tongue stuck up it.

**Norton** · 08-07-2022, 07:37 PM

Originally Posted by sabang

Finally sinking through that the sanction aren't working thicko?

They are working if hurting the economy of folks you put sanctions on is the point. As in shooting wars, economic wars are a double edged sword. Both sides economies are hurt more or less. From your post Sab.

Originally Posted by sabang

The economy is still “facing the sharpest contraction since at least 2009,” Bloomberg claimed

**sabang** · 08-07-2022, 08:51 PM

They aren't having the desired effect at all norts. Europe and RoW are being hurt more than the nett effect on Russia. So in sabspeak, a negative sum game. The original talk about the Ruble becoming rubble is itself in rubble now. Are we hoping for another prolonged Afghanistan type conflict? That would play out over years- and certainly not to Ukraine's benefit.

**harrybarracuda** · 09-07-2022, 08:36 AM

Originally Posted by sabang

They aren't having the desired effect at all norts. Europe and RoW are being hurt more than the nett effect on Russia. So in sabspeak, a negative sum game. The original talk about the Ruble becoming rubble is itself in rubble now. Are we hoping for another prolonged Afghanistan type conflict? That would play out over years- and certainly not to Ukraine's benefit.

Yes, we all know you'd love the world to cave and hand half of Ukraine to Putin.

Your attempts to frame it as concern are as obvious as they are pathetic.

**sabang** · 09-07-2022, 09:39 AM

Same crap as Bloomberg, Morgan Stanley, Citi etc then- above your head I suppose.

**OhOh** · 09-07-2022, 10:12 AM

8 Jul, 2022 20:00 Home World News

UK energy bills seen soaring

The average British household will be paying more than £3,300 a year to keep lights and heating on, a forecaster has predicted.

"UK consumers will soon be paying an average of more than £3,300 annually in household energy costs, a 71% increase from the record-high utility rates they’re currently incurring, as wholesale natural gas prices soar amid anti-Russia sanctions over the Ukraine crisis, a research firm has predicted.

The energy price cap set by regulator Ofgem will jump to £3,363 a year (just over $4,000) for the average household by January from the current level of £1,971, according to the latest projections by forecaster Cornwall Insight, released on Friday. The firm also raised its annualized cost projection for the October-December period to £3,244, up 12% from the third-quarter prediction that it made just two weeks ago."

Continues at:

UK energy bills seen soaring — RT World News

**OhOh** · 09-07-2022, 10:17 AM

8 Jul, 2022 16:05 Home Business News

Western ‘economic blitzkrieg’ has failed – Putin

The Russian economy has withstood the pressure of unprecedented sanctions, according to the president.

"Western nations have failed in their attempts to destabilize the Russian economy with sanctions, President Vladimir Putin said at a government meeting on economic issues on Friday.
“As a result of the actions of the Central Bank, as a result of the measures that were taken in a timely manner by the government ... a lot was done. And the so-called blitzkrieg that our ill-wishers attempted in relation to Russia, the economic blitzkrieg, of course, has failed,” he said."

Continues at:

Western ‘economic blitzkrieg’ has failed – Putin — RT Business News

**OhOh** · 09-07-2022, 10:19 AM

8 Jul, 2022 12:45 Home Russia & FSU

EU will be held responsible for starving millions around the world – tycoon

A sanctioned Russian fertilizer mogul warns that sanctions targeting food and energy are ‘economic weapons of mass destruction’ .

"Sanctions imposed on Russian and Belarusian fertilizer producers are akin to weapons of mass destruction in the scale of the damage they will likely cause over the next few years, the founder of chemical giant EuroChem has claimed.“The EU sanctions mean suffering, famine and migration flows for many hundreds of millions of people,” Andrey Melnichenko said in an interview with the Swiss newspaper Die Weltwoche on Thursday.

“Sanctions targeting food and energy are economic weapons of mass destruction. They hit innocent people the worst. I have no doubt that billions of people will feel its effects,” he warned.
Suffering people will want to hold those responsible accountable, and the EU won’t be able to shift its culpability, the businessman added. It was not Russia or the US, but EU members like Lithuania and Estonia, and also European leaders Germany, France and Italy, which chose to disrupt the operation of his chemical empire with sanctions, he explained."

Continues at:

EU will be held responsible for starving millions around the world – tycoon — RT Russia & Former Soviet Union

**pickel** · 09-07-2022, 10:23 AM

Originally Posted by OhOh

Sanctions imposed on Russian and Belarusian fertilizer producers

There are no sanctions on Russian fertilizer. But I think you already know this and are just continuing to be a disingenuous wanker.

**OhOh** · 09-07-2022, 11:03 AM

July 8, 20225:54 PM GMT+7Last Updated 17 hours ago

Germany confirms positive signal from Canada on Nord Stream 1 turbine

Reuters

BERLIN, July 8 (Reuters)

"Germany on Friday confirmed that the government had received a positive signal from Canada regarding the delivery of a turbine needed for the maintenance of the Nord Stream 1 gas pipeline to Germany, but could not say that the turbine had been delivered.

Russia's Gazprom (GAZP.MM) cut capacity along the Nord Stream 1 pipeline to just 40% of usual levels last month, citing the delayed return of equipment being serviced by Germany's Siemens Energy (ENR1n.DE), (SIEGn.DE) in Canada.

A decision to return the turbine had already been taken, a source familiar with the issue told Reuters on Thursday.

The turbine would be sent to Germany first which will then deliver it to Gazprom so Canada does not breach any sanctions, a government source told Reuters.

Siemens Energy declined to comment on the news.

The Kremlin on Friday said it would increase gas supplies to Europe if the turbine was returned. read more

Ukraine opposes Canada's handing over the turbine to Gazprom and Kyiv believes such a move would flout sanctions on Russia, a Ukrainian energy ministry source said on Thursday. read more

Reporting by Riham Alkousaa, Andreas Rinke, Tom Kaeckenhof Editing by Paul Carrel and Louise Heavens"

https://www.reuters.com/business/ene...ne-2022-07-08/

No timescale announced.

A testing procedure will then be meticulously followed, once delivered to Russia and prior to installing the turbine into the pipeline, no doubt.

**OhOh** · 09-07-2022, 11:50 AM

Originally Posted by pickel

There are no sanctions on Russian fertilizer.

Sanctions cripple the Russia’s fertiliser industry

22-06 | Market trends | News

"In addition, Western restrictions have severely hampered the Russian and Belarusian fertilisers export, Guryev said, suggesting that fertilisers must be recognised as humanitarian goods in order to mitigate a global food crisis."

"The problems that we, fertiliser producers in Russia, have faced are actually [come from] sectoral sanctions. The 4 largest companies operating in Russia, plus [Belarus fertilisers producer] Belaruskali, cannot fully supply their products to developing countries,” Guryev said, explaining that among other things Russian exporters experience problems with collecting payments for delivered goods stemming from the sanctions against the Russian banking sector."

Sanctions cripple the Russia's fertiliser industry - All About Feed

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**pickel** · 09-07-2022, 11:54 AM

Just like I said.

Originally Posted by pickel

But I think you already know this and are just continuing to be a disingenuous wanker.

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