Thread: Economic sanctions

I am very pleased that OhOh has the same definition of ‘dubious and unreliable sources’, for all his walls of text.

Puffy's blackmail is rather obvious. Only the wanketeers can't see it.

So it's America's fault that Putin is blackmailing Europe.

Well in the mind of at least one dumb wanketeer anyway.

Originally Posted by harrybarracuda

America's fault that Putin is blackmailing Europe.

Without the NaGastan demands the EU would not have sanctioned anybody, including as their politicians choices have unfolded, themselves.

Originally Posted by OhOh

Without the NaGastan demands the EU would not have sanctioned anybody, including as their politicians choices have unfolded, themselves.

Why do you think Finland and Sweden have applied to join NATO you gibbering moron.

As if Europe needs the US to tell it puffy is a fucking menace and needs to be stopped.

Originally Posted by OhOh

United States and Europe Shoot Themselves In the Head and Blame Russia

Only a full stop idiot would say something so stupid. Russia shutting off the taps was the best thing that could have happened to the EU. Norway has stepped into the breech and is filling the gap. The reality is that Russia has shot itself in the head in more ways than one...

Norway has agreed to continue to export as much natural gas as it can to Germany in order to help reduce fossil fuel dependence on Russia, the two countries' leaders told journalists on 15 August in Norway’s capital Oslo. The northern European country’s gas extraction industry is already operating at full capacity, meaning Norway would have to tap into new gas fields and expand exploitation to do more. Norway would be delivering “the maximum of what we can” deliver, prime minister Jonas Gahr Store said during an official visit to the country by German chancellor Olaf Scholz. “But we cannot just politically decide to deliver more,” Store said, adding that “anything that can be turned into energy will be turned into energy.” Chancellor Scholz said Germany is “thankful” for Norway’s contribution and its readiness to expand exports “as much as possible.” Scholz said Germany and the Scandinavian country would further deepen their energy and climate cooperation across the board, including offshore wind power, solar energy, hydrogen and carbon capture and storage (CCS).

Norway’s share in German gas consumption has grown rapidly since the beginning of Russia’s war against Ukraine. The fossil fuel-rich country currently covers more than 30 percent of all gas flows to Germany, news agency AFP reports in an article carried by n-tv. Deliveries between January and April doubled to 15 billion cubic metres over the same period one year before, the highest export value to the EU ever recorded in the country. State-owned energy company Equinor is enjoying windfall profits from the surge in European gas imports. In the second quarter of this year, profits grew by nearly two billion euros to 6.6 billion euros.

Since the onset of Russia’s attack on Ukraine in late February, Germany has been scrambling to secure new sources for fossil fuel supplies, including not only gas, but also oil and coal from states around the world. Cooperation with Norway on energy security has been intensifying for several years, with Norway’s gas, oil and pumped hydro storage capacities at the centre of activities so far. However, crucial hydro power exports to Europe could come to a halt due to low water levels in Norway.

https://www.cleanenergywire.org/news...veries-germany

Originally Posted by sabang

The concerns being rationally expressed are to do with shooting ourselves in the foot, rather than any humanitarian concern for Vlad Putin. The sanctions aren't working, indeed Russia's balance of payments is better than it has ever been. I think they can survive without a Happy meal. Then there is the 'Global south', facing possible starvation.

Declaring yourself as a far right extremist was never going to help your cause.

One Indian's view of the "usefulness" the 16% sanctions on Russian commodities, for itself and other South East Asian countries.

Posted on September 7, 2022 by M. K. BHADRAKUMAR

India’s energy diplomacy blossoms, finally.

"To be sure, energy security has surged as the key to a country’s strategic autonomy and independence, as world events testify, currently within the matrix of “food-fertiliser-fuel” sufficiency where the global supply chains are disrupted. Europe’s missteps on this front, upon the advice of the US to atrophy and severe the continent’s seven decades-long economic links with Russia, is proving to be a Himalayan blunder that threatens the western economies with recession and brewing political turmoil.

In this matrix, Russia holds trump cards on all three commodities — food-fertilisers, fuel — being a top global supplier, and the Biden Administration is at its wit’s end to isolate such a world power geopolitically.

In South Asia too, the oil crisis was the proverbial last straw that led to the explosive political mayhem in Sri Lanka recently, which external powers fuelled with alacrity to try to tigger a regime change (luckily fizzling out.)

Fortunately, so far, India has handled an extremely tricky situation with great wisdom and far-sightedness — and aplomb at the diplomatic level — to buffet the national economy from “oil shocks.” In an interview this week with CNBC TV (video of 15-minuteinterview is available below), Petroleum Minister HS Puri discussed the issues and brought out the maturity, sweep and richness of the government’s thinking on the subject of India’s energy security.

The salience is, firstly, that India will not get entangled in the nascent G7 move to impose a price cap on Russian oil but will only take a decision on it in terms of “national interest” once the details become available (which essentially means that India will be guided by the all-important yardstick of reliability of supplies at competitive prices).

Second, Puri stressed that India will take its call carefully on the G7 move, assessing who its participants will be, what will be its implications, etc. Simply put, India does not propose to travel in the G7/EU bandwagon.

Third, India depends heavily on oil imports from the Gulf region and its dependence on Russian oil is insignificant — even minuscule in comparison with Europe’s — and therefore all this brouhaha by the western media and governments is irrelevant except as pressure points.

Fourth, Puri assertively stressed: “Yes, we will buy from Russia, we’ll buy from wherever.” He noted that India has no conflict of interests with Russia as such and the government’s sole concern will be its obligation to safeguard energy security.

Fifth, Puri distanced India from the West’s “ideological, punitive action” against Russia and scoffed at the western countries’ double standards insofar as “they are still buying (Russian oil) and will be buying for a while, and, therefore, that moral conflict question” (democracy versus autocracy, blah, blah) should be appropriately addressed to them. Putin underscored that the government will be “realistic” and its primary duty is to the Indian consumers.

Finally, most important, Puri sounded an abundant word of caution that playing around with the highly volatile global oil market is a turf that angels fear to tread and only fools with barge in. He counselled that the G7 has to be “careful” about what it is “unleashing,” because we live in a real world where economic laws of supply and demand in the market are in play.

Puri sounded highly sceptical whether many countries will buy into an oil regime structured by the US — that is, even assuming that EU countries themselves will reach a consensus on it. (By the way, G7, of which Japan is a member, has already given a waiver to Tokyo exempting the Russian supplies from Sakhalin-2, which accounts for 9 percent of Japan’s LNG imports!)

Puri’s remarks are strikingly similar to what the Chinese Foreign Ministry spokeswoman Mao Ning stated on September 5: “Oil is a global commodity. Ensuring global energy supply security is vitally important. We hope relevant countries will make constructive efforts to help ease the situation through dialogue and consultation, instead of doing the opposite.”

Now, if India and China do not align with G7 — and Japan is exempt — what is left of the Biden Administration’s dream to isolate Russia and dry up its income from oil exports with this hare-brained scheme by the US Treasury to impose a price cap on Russian oil? (See my blog OPEC+agrees on oil output cut.)

To be sure, the government is not going to be browbeaten by the Biden Administration. It is not even sure that the G7 proposal on price cap will fly. And, therefore, India’s compass to navigate the choppy waters of the global oil market is well set.

Interestingly, the 4-day visit of Bangladesh Prime Minister Sheikh Hasina to Delhi has opened a new dimension to this great game playing out in front of us — India is positioning itself to play a pivotal role to strengthen Bangladesh’s energy security by routing the shipment of Russian oil through its refinery in Assam.

Quintessentially, this implies that not only is India intending to keep its option to buy Russian oil open, but Delhi will also help the neighbouring countries to facilitate their access to Russian supplies at competitive prices in their desperate struggle to work out energy security with such scarce resources.

India’s crucial advantage here is that it has the technology to refine Russian crude — Urals oil which is a blend of heavy sour of Urals and the Volga region with the light oil of Western Siberia — which the smaller neighbours in South Asia lack due to the heavy capital investments involved. Thus, reports say that one possibility is that Russia’s oil giant Rosneft may sell Russian oil to Bangladesh and route the supply through the Numaligarh refinery run by the Indian Oil Corporation in Assam which is equipped to handle Urals crude.

Moreover, anticipating the future dependence on Russian oil supplies, Bangladesh is interested in tapping into a 131-km long cross-border oil pipeline that is under construction (and will be ready by the end of the year), which “will make (Russian) fuel supplies seamless” for 16 districts in Bangladesh in the Rangpur-Rajshahi regions.

This is a fantastic development in India’s neighbourhood diplomacy on the whole, which becomes a model of cooperation between India and its smaller neighbours who can negotiate with Rosneft access to Russian oil at competitive prices whose shipment can be routed through Indian refineries.

Can’t this model be replicated in Sri Lanka, Nepal as well with pipeline grids connected to India or transportation by other means?

Such cooperation would cement the foundation for iron clad strategic ties between and amongst the South Asian countries, with India acting as an energy hub for Russian oil supplies to the region."

https://www.indianpunchline.com/indi...ssoms-finally/

Eastern Economic Forum
7 Sep, 16:26


Russia ready to turn on Nord Stream 2 — Putin

According to the Russian president, Nord Stream 1 is currently virtually closed, and the West claims that Moscow is using the gas pipeline as an energy weapon

VLADIVOSTOK, September 7. /TASS/.

"Russia is ready to start pumping gas through the Nord Stream 2 pipeline, Russian President Vladimir Putin said on Wednesday at the Eastern Economic Forum.

"We are not building anything for no reason. We have received and perfected the necessary technology. We will turn on Nord Stream 2 if necessary," Putin said.

According to him, Nord Stream 1 is currently virtually closed, and the West claims that Moscow is using the gas pipeline as an energy weapon. "Nonsense. We supply as much as our partners need - we fulfill whatever they put in the application," Putin added.

Organized by the Roscongress Foundation, the Seventh Eastern Economic Forum will be running from September 5 to September 8 in Vladivostok. TASS is the event’s general information partner and its official photohost agency. This year, the theme of the forum is: "On the Path to a Multipolar World."


Russia ready to turn on Nord Stream 2 — Putin - Business & Economy - TASS

One wonders who or what, Russia considers to be it's "partners".

Another Asian country ready to assist European citizens through their coming winter.

Chinese heaters in hot demand in Europe amid energy crisis ahead of winter


By GT staff reporters Published: Sep 06, 2022 10:27 PM


"Chinese heating appliances are in high demand, with some producers seeing their orders in the first half of the year jump 100 percent year-on-year, as European countries are scrambling to deal with the energy crisis intensified by geopolitical tensions and inflation.

While European consumers are preparing for possible disruptions by buying more heaters, producers in manufacturing hubs in China have worked around the clock to deal with rising overseas orders, especially those from Europe, to ensure that the much-needed appliances can be delivered into customers' hands before winter dawns.

Among ordinary heaters, those that consume less electricity, are more eco-friendly or offer value for money gained particular footholds in the European market as the region faces jumping energy prices, the Global Times learned.

For example, in the overall cooler and heater industry, air source heat pumps bucked the trend in the first half of the year, especially for exports, industry insiders said.

A report from Chinaiol.com, an industry information consultancy platform, on Tuesday showed that overall sales of Chinese-produced air-to-water (ATW) heat pump water heaters reached 7.19 billion yuan ($1.03 billion) in the first half of the year, a nearly 30-percent growth year-on-year, with domestic sales rising by 6.83 percent and exports jumping by a significant 68.2 percent.

The failure of the Nord Stream 1 pipeline to resume gas supply pushed up European natural gas prices again, with the price on the European natural gas futures market up 72.5 euros ($71.95) on Monday to 281 euros per megawatt-hour, a sharp increase of 35 percent from the market price on Friday.

The unprecedented energy situation in Europe, intensified by political tensions and sanctions, has brought about an impact on industries and public livelihoods, while jumping energy prices have accelerated the regional popularity of energy-saving and more value-for-money home appliances.

Chinese electrical appliance manufacturing conglomerate Midea Group saw ATW heat pump water heater shipments worldwide jump by 200 percent in the first half of this year, according to a statement the company sent to the Global Times on Tuesday.

The company's ATW heat pump water heater shipments accounted for nearly 6 percent of the European market capacity in 2021, industry data showed.

Most current European home heating installations are wall-hung boilers, which use traditional fossil fuels such as natural gas to heat water. If natural gas is not available or inadequate, residents may have a big problem in the winter, so everyone is trying to find a way to replace the wall-hung boiler with a heat pump, according to Midea Group.

In terms of energy saving, electricity that heat pumps use can generate four or even five times more heat than fossil fuels, industry insiders said, another reason for the rising popularity of such products in Europe.

Midea said that heat pump products are still in adequate supply in the market, and the company is confident that the whole supply chain, ranging from raw materials to production lines, can respond quickly for the timely delivery of products for the global market.

In the first half of the year, the export value of Chinese ATW heat pump water heaters to Bulgaria rose by 614 percent, followed by 373 percent for Poland, 198 percent for Italy, and 71 percent for Spain, according to media outlet yicai.com on Tuesday.

Chinese home appliance provider Vanward, based in South China's Guangdong Province, said on Tuesday via its investor hotline that the company's export value of ATW heat pump water heaters surpassed 7.8 million yuan in the first half of 2022, an up to 100-percent increase year-on-year.

A manager surnamed Huang with Winning Star Electronic Technology Co, based in East China's Yiwu, told the Global Times on Tuesday that it has received rising orders and inquiries from many countries, including those in Europe, with inquiries mainly for heating appliances.

While there are seasonal factors that drive growth, Huang said that the tight energy situation in Europe also plays its part.

"Some foreign clients who used to place orders locally have now come to us for inquiries," Huang said, indicating a trend that may lead to bigger orders for the rest of the year.

Huang expected that orders for the second half of the year will double compared with the same period last year.

China is the main supplier of heat pumps in Europe, accounting for 60 percent of the market, where explosive growth has taken place.

Due to the current global demand for air source heat pump products, it is expected that heat pump exports will maintain a growth level of at least 50 percent for the whole year, with the demand from the European market to see a sharp rise, according to Chinaiol.com"

Chinese heaters in hot demand in Europe amid energy crisis ahead of winter - Global Times

7 Sep, 2022 14:26 HomeBusiness News


EU suggests price cap on US LNG

The measure was floated among other proposals aimed at tackling the growing energy crisis.

"Brussels is examining the possibility of a price ceiling on all gas imported into the EU, including liquefied natural gas (LNG), European Commission President Ursula von der Leyen said on Wednesday.“LNG is scarce and can be rerouted to different regions… We [want to] stay competitive for LNG suppliers but make sure that the prices we pay are not extraordinarily high but in a decent range,” she told reporters.

EU countries mostly import the costly LNG from the US and Qatar, using it to diversify gas imports in light of shrinking supplies from Russia. However, some analysts warn that producers might not be eager to supply the fuel to European countries if their profits are capped.

Von der Leyen noted that enacting the proposal is not imminent and that it would be discussed further at a later date.

She did, however, unveil a number of other proposals aimed at tackling the EU's worsening energy crisis, including a bloc-wide plan to reduce electricity consumption, a price cap on the excess revenues made by companies involved in renewable and nuclear energy, a mechanism to capture the profits that fossil-fuel companies make due to rising prices, a state aid program for utilities businesses, and a price cap on Russian pipeline gas imports.

Commenting on the last of these, she said the mechanism is necessary to “cut Russia's revenues which Putin uses to finance this atrocious war against Ukraine.” She noted that since Russia launched its military operation in Ukraine, the share of Russian pipeline gas in the EU’s total imports has dropped from 40% to 9%, while Norway has replaced Russia as the bloc’s leading gas supplier."

EU suggests price cap on US LNG — RT Business News

More inflationary price increases for the NaGastan citizens?

The NaGAstan oil and gas companies appear reluctant to invest in domestic exploration, refineries or production.

Originally Posted by OhOh

One Indian's view

One stupid Indian brown noser's view you mean.

Originally Posted by harrybarracuda

One stupid Indian brown noser's view you mean.

This fella and his family are dyed in the wool commies (I did a bit of reading on him having looked on incredulously when I would attempt to at least read some of the nonsense he regurgitates). Every bit as brainwashed and blinkered as Oh No.

• September 7, 2022

Faced with pressure on purchasing power and doubts about their effectiveness, support for sanctions against Russia and support for Ukraine is weakening in public opinion.

"Economic sanctions against Russia deemed not effective in ending the war

French people more divided on the effectiveness of military and financial support for Ukraine

74% of French people consider that the economic sanctions taken by the European Union and Western countries against Russia are not effective in ending the war (including 51% not really and 23% not at all )

The French are more divided on the military and financial support of European and Western countries for Ukraine: 52% of them believe that it is not effective in ending the war, against 47% effective .

The ineffectiveness of economic sanctions against Russia in ending the war is a majority opinion among all categories of the population and electorates, including Emmanuel Macron's voters (56%). "

Face a la pression sur le pouvoir d’achat et aux doutes sur leur efficacite, l’adhesion aux sanctions contre la Russie et au soutien a l’Ukraine faiblit dans l’opinion publique

No-one cares what the cheese eating surrender monkeys think. All they care about is themselves.

Been like that for centuries, spineless garlic munchers.

Originally Posted by sabang

though some facilities, like public libraries, may be kept open as a refuge for those unable to heat their homes.

I fear the worst.

With all the things that could go wrong on the 'united front ' several things are bound to.

Also, there is well enough blame to go around.

The fvcking stupidity of it all.

Originally Posted by panama hat

Russia will invade them and make them even poorer?

Cue Oh Doh frantically copying and pasting even more RT/Tass propaganda to get this mention of invasions off the page as quickly as possible.

Don't mention ze invasion!

Originally Posted by harrybarracuda

Don't mention ze invasion!

The one where they are getting their asses kicked?

Or the one where they occupy 20% of the country?