Thread: Economic sanctions

Originally Posted by OhOh

8 Jul, 2022 12:45 HomeRussia & FSU

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

Who's the bigger c u n t, the stoopid Russian spouting propaganda or the stoopid wanketeer posting it?

Absolutely the right decision.

Canada gets something right.

China is the main beneficiary of the biggest change in energy trade flows in recent memory as Russia pivots to Asia to sell the oil and coal banned in the West and looks to build another major natural gas pipeline to China.

Beijing is not only a willing energy trade partner for Russia, soaking up hundreds of thousands of barrels of crude oil per day unwanted in the West.

China is also paying for Russian energy at growing discounts to international benchmarks, which makes its government-managed industry even more competitive than that of the U.S. and its allies, Thomas J. Duesterberg, Senior Fellow at U.S.-based think tank Hudson Institute, writes in Forbes.

“The United States could help its European and Pacific Rim allies, neutralize the growing Chinese opportunity in energy and energy-intensive industries, and contribute to the beleaguered effort of Ukraine to defeat Russian aggression if it treated its oil and gas production industry as part of its modern-day “Arsenal of Democracy” rather than as a pariah that should be slowly phased out,” Duesterberg says.

But the Biden Administration is intent on keeping its climate goals and is blaming the oil industry for all the sins—from not enough gasoline to bring fuel prices down, to price gouging and profiteering from triple-digit crude oil prices.

In the wake of the Russian invasion of Ukraine, industries in the West are grappling with soaring energy, input, raw material, and equipment costs. The EU may be on the brink of a recession later this year with its gas supply from Russia slashed and the possibility of rationing for some industries in a few months’ time. Recession in the U.S. is also a distinct possibility after the Fed aggressively hikes key interest rates to tame the highest inflation in four decades.

Meanwhile, China is enjoying growing flows of crude and coal at cheaper than benchmark prices. Although China still has ups and downs in its economic growth due to the ‘zero COVID’ policy with sudden lockdowns, it is boosting its global position further because of the cheap commodities from Russia it has been importing in recent months.


China’s industrial power is being fueled by U.S. adversaries in Russia and Iran, Hudson Institute’s Duesterberg notes.

China, which has never followed U.S. sanctions and keeps importing oil from Iran, has now increased imports of crude from Russia to records. China likely imported another 2 million barrels per day (bpd) of discounted Russian crude oil in June after bringing in around the same record amount in May. This kept Russia as the top Chinese oil supplier ahead of Saudi Arabia for a second consecutive month, according to tanker tracking firms Refinitiv, Vortexa, and Kpler cited by Reuters.

A Hudson Institute analysis of Chinese customs data and the reported value of its imports showed that China paid for Russian oil 9% below Brent prices in January. The discount widened to 18.2% below Brent prices in May, when China imported a record 2 million bpd of Russia crude. Beijing also imports the typical high volumes of coal from Russia, as higher purchases from China, India, and Turkey have offset in recent months dwindling Russian coal sales to Europe ahead of the EU ban on coal imports starting in August.

In natural gas, however, it will take years for China to materially boost pipeline imports from Russia because of a current lack of infrastructure. Russia is already sending natural gas via pipeline to China through the Power of Siberia pipeline, with plans for another major gas pipeline, but this will take years to complete and commission. Analysts warn that Russia—having no other choice—could become too dependent on China for energy trade, especially for its gas sales.

By Tsvetana Paraskova for Oilprice.com

https://uk.style.yahoo.com/china-win...weJl5SKTIpwjgY

I believe many are benefitting from the sanctions except for the instigators, whom are digging themselves deeper.
Kind of a karmic blowback situation.

11 Jul, 2022 16:24

HomeBusiness News

Brazil seeking Russian fuel supply – Bolsonaro

The South American nation may clinch a deal with Moscow on cheap diesel imports, its president says.

"President Jair Bolsonaro says Brazil is close to reaching a deal for the purchase of much cheaper diesel from Russia, Reuters reported on Monday.Last week, BRICS Information Portal reported that Bolsonaro had a telephone conversation with Russian President Vladimir Putin, who had reportedly vowed to guarantee the South American country a steady supply of fertilizers, which are crucial for Brazil’s vast agribusiness sector.

“We have food security and energy security, there are chances that we will buy diesel from there, which is at a more convenient price,” the Brazilian leader was quoted as saying on Wednesday.

Bolsonaro has been working on proposals to ensure adequate fuel supplies for the country with a minimal impact on prices as the nation struggles with high inflation. According to estimates, Latin America’s largest economy, which consumes more than five million cubic meters of diesel per month, will have to increase imports by over 15% to meet domestic needs."

Brazil seeking Russian fuel supply – Bolsonaro — RT Business News



11 Jul, 2022 11:38

HomeBusiness News

European gas prices drop on renewed Russian supply hopes

Canada’s reported promise to return Nord Stream pipeline equipment eased energy market concerns.

"Natural gas spot prices in Europe decreased by 12% on Monday after the Canadian government announced its decision to send a repaired Nord Stream 1 gas turbine back to the pipeline operator, easing concerns over a growing energy crunch in the region.The Dutch TTF contract, a key European spot benchmark, was trading at $1639.5 per thousand cubic meters, or €154 per megawatt hour, according to London ICE data.

On Saturday, the Canadian authorities said they would sidestep sanctions by returning vital equipment needed for the operation of the Nord Stream 1 gas pipeline. The turbine will be delivered to Germany first, which will then send it on to Gazprom so Ottawa does not breach the Ukraine-related restrictions it introduced against Moscow.

On Monday, Russian media reported, citing sources, that the equipment would be sent to Germany after July 14.

In June, an operational problem, triggered by the failure to return the serviced turbine on time, forced the Gazprom-affiliated Nord Stream AG to reduce flow through the pipeline to Germany to just 40% of capacity. As a result, European gas prices surged to their highest level since March."

https://www.rt.com/business/558762-e...s-prices-drop/

Australian iron ore supplier embraces Chinese market with yuan settlement


By Global Times Published: Jul 11, 2022 10:14 PM

"Australian iron ore conglomerate BHP hailed on Sunday its first shipment of yuan-based spot trade iron ore to dock at a port in East China's Shandong Province, as Australian companies step up efforts to maintain businesses in the Chinese market amid tense bilateral relations due to Australia's hostile approach toward China.

The vessel Vittoria loaded with iron ore from a mine in Western Australia arrived at Rizhao port, China's major iron ore trading port, on Sunday, two-weeks after departing Port Hedland, according to a BHP statement on Sunday.

The arrival marks the official beginning of BHP's Shanghai branch, a wholly-owned subsidiary, since it was recently established to better serve clients in China, the largest iron ore importer in the world.

At the event to celebrate the ship's arrival on Sunday, Jeremie Louis, vice president of marketing and sales (Iron Ore) of BHP, said that the US dollar sales of iron ore and the spot market of the yuan in ports have their own characteristics and advantages and can complement each other and coexist, according to the official statement.

The launch of the yuan-based trade in iron ore marks an important step for the Australian company to get closer to the Chinese market, while balancing the possible risks and uncertainties from the US dollar ignited by high US inflation, industry insiders and experts said.

Overseas mines carrying out yuan settlement for spot trades at ports is helpful for the wider application of the yuan in commodity settlement and reduces the use of the greenback amid possible economic risks brought by huge exchange rate fluctuations to Chinese steel enterprises, Shandong Port Group Co, the operator of Rizhao Port, said in a statement sent to the Global Times on Monday."

Continues at:

Australian iron ore supplier embraces Chinese market with yuan settlement - Global Times

Originally Posted by OhOh

Sri Lanka's economy is highly dependent on foreign trade with limited resilience to shocks. The pandemic, the Russia-Ukraine conflict as well as US' unilateral sanctions against Russia have combined to precipitate a crisis, observers stressed."

Utter hogwash. The crisis has been in the making for over two years with the Rajapaksa family deciding to write their own book on how to manage a country's economy (particularly a move to organic farm production) and finances (printing ever increasing amounts of money) which predictably and unfortunately for the people failed.

Originally Posted by malmomike77

Utter hogwash. The crisis has been in the making for over two years with the Rajapaksa family deciding to write their own book on how to manage a country's economy (particularly a move to organic farm production) and finances (printing ever increasing amounts of money) which predictably and unfortunately for the people failed.

Not to mention Sri Lanka politicians trousering wads of cash to indebt their country to the chinkies.

Ironic... another fucking thief caught trying to leg it to Dubai, which is probably where he's stashed his share of the chinky loot.

COLOMBO: Sri Lanka's embattled president was stuck in his own country Tuesday in a humiliating standoff with airport immigration staff blocking his exit to safety abroad, official sources said Tuesday.
Gotabaya Rajapaksa has promised to resign on Wednesday and clear the way for a "peaceful transition of power" following widespread protests against him over the country's unprecedented economic crisis.
The 73-year-old leader fled his official residence in Colombo just before tens of thousands of protesters overran it on Saturday and wanted to travel to Dubai, officials said.

Originally Posted by HuangLao

I believe many are benefitting from the sanctions except for the instigators, whom are digging themselves deeper.
Kind of a karmic blowback situation.

Yep, hard to argue with.

Originally Posted by Iceman123

Yep, hard to argue with.

Jesus H you are aligning yourself with every buffoon on the forum. Do you even know/remember who Jeff is?

Originally Posted by bsnub

Jesus H you are aligning yourself with every buffoon on the forum. Do you even know/remember who Jeff is?

Jeff is correct, I am well aware who he is.

And no I have not aligned myself with you.

Originally Posted by Iceman123

Jeff is correct, I am well aware who he is.

And no I have not aligned myself with you.

Fair comment.

Sri Lanka have been done in by their incredibly corrupt government.

Russia’s account surplus reached a new record for the second quarter, according to data released by the central bank cited by Bloomberg.

The surplus, now more than $70 billion, comes on the back of surging oil and gas—and other commodities as well—exports, which outweighed the sanctions placed on the country by Western powers.

The surplus was also bolstered by high prices and decreasing imports—to $72.3 billion in Q1 from $88.7 billion in Q2—thanks to the sanctions, which have a greater effect on imports than on exports.

The sanctions on Russia’s energy exports have made scant progress in restricting funds flowing into Russia that it could use to carry on its aggression in Ukraine. India, for one, is purchasing record amounts of Russian crude oil—to the tune of nearly a million barrels per day as of June—this is about one-fifth of India’s total crude oil imports, according to Reuters.

China has also been importing record amounts of cheap Russian crude during June, even in the midst of Covid lockdowns. Russia is China’s main supplier of crude oil, and neither India nor China is showing signs of reluctance in snapping up Russian crude—a sanctioned commodity by Europe and the United States.

It’s not just oil. Russia is also said to be close to a deal with Brazil to supply the South American country with cheap diesel, Reuters reported on Monday. Brazilian President Bolsonaro, facing a tough reelection in October due to high fuel prices, has enjoyed an amicable relationship with Russian President Vladimir Putin.

Russian exports were $153.1 billion in the second quarter after reaching $166.4 billion in the first quarter.

The United States has plans to discuss a possible oil price cap on Russian crude with major crude oil purchasers like India to garner support for such a plan—a plan that would seek to allow buyers to continue purchasing Russian crude but cap the revenues that Russia receives for those purchases.

Soaring Energy Exports Send Russia’s Account Surplus To Record High | OilPrice.com

Originally Posted by DrWilly

Fair comment.

Sri Lanka have been done in by their incredibly corrupt government.

And incompetent.

Probably Chine and the West have not helped much.

But the blame is clearly on one family, that was in power.

Originally Posted by DrWilly

But the blame is clearly on one family, that was in power.

Yup. That pretty much sums it up.

Originally Posted by DrWilly

Fair comment.

Sri Lanka have been done in by the chinkies taking advantage of their incredibly corrupt government.

FTFY.

'arry's small brain has been done in by rampant sinophobia, and other assorted bigotries.

Originally Posted by sabang

China is the main beneficiary of the biggest change in energy trade flows in recent memory as Russia pivots to Asia to sell the oil and coal banned in the West and looks to build another major natural gas pipeline to China.

Beijing is not only a willing energy trade partner for Russia, soaking up hundreds of thousands of barrels of crude oil per day unwanted in the West.

China is also paying for Russian energy at growing discounts to international benchmarks, which makes its government-managed industry even more competitive than that of the U.S. and its allies, Thomas J. Duesterberg, Senior Fellow at U.S.-based think tank Hudson Institute, writes in Forbes.

“The United States could help its European and Pacific Rim allies, neutralize the growing Chinese opportunity in energy and energy-intensive industries, and contribute to the beleaguered effort of Ukraine to defeat Russian aggression if it treated its oil and gas production industry as part of its modern-day “Arsenal of Democracy” rather than as a pariah that should be slowly phased out,” Duesterberg says.

But the Biden Administration is intent on keeping its climate goals and is blaming the oil industry for all the sins—from not enough gasoline to bring fuel prices down, to price gouging and profiteering from triple-digit crude oil prices.

In the wake of the Russian invasion of Ukraine, industries in the West are grappling with soaring energy, input, raw material, and equipment costs. The EU may be on the brink of a recession later this year with its gas supply from Russia slashed and the possibility of rationing for some industries in a few months’ time. Recession in the U.S. is also a distinct possibility after the Fed aggressively hikes key interest rates to tame the highest inflation in four decades.

Meanwhile, China is enjoying growing flows of crude and coal at cheaper than benchmark prices. Although China still has ups and downs in its economic growth due to the ‘zero COVID’ policy with sudden lockdowns, it is boosting its global position further because of the cheap commodities from Russia it has been importing in recent months.


China’s industrial power is being fueled by U.S. adversaries in Russia and Iran, Hudson Institute’s Duesterberg notes.

China, which has never followed U.S. sanctions and keeps importing oil from Iran, has now increased imports of crude from Russia to records. China likely imported another 2 million barrels per day (bpd) of discounted Russian crude oil in June after bringing in around the same record amount in May. This kept Russia as the top Chinese oil supplier ahead of Saudi Arabia for a second consecutive month, according to tanker tracking firms Refinitiv, Vortexa, and Kpler cited by Reuters.

A Hudson Institute analysis of Chinese customs data and the reported value of its imports showed that China paid for Russian oil 9% below Brent prices in January. The discount widened to 18.2% below Brent prices in May, when China imported a record 2 million bpd of Russia crude. Beijing also imports the typical high volumes of coal from Russia, as higher purchases from China, India, and Turkey have offset in recent months dwindling Russian coal sales to Europe ahead of the EU ban on coal imports starting in August.

In natural gas, however, it will take years for China to materially boost pipeline imports from Russia because of a current lack of infrastructure. Russia is already sending natural gas via pipeline to China through the Power of Siberia pipeline, with plans for another major gas pipeline, but this will take years to complete and commission. Analysts warn that Russia—having no other choice—could become too dependent on China for energy trade, especially for its gas sales.

By Tsvetana Paraskova for Oilprice.com

https://uk.style.yahoo.com/china-win...weJl5SKTIpwjgY

I hope they are very happy together. Unfortunately China has forgotten if it wasn't for western money not the ruble, they would all still be riding on nothing more technical than a bicycle. Come back after a year of sanctions and let us know how swimmingly well the Russian population are going. Two dictators both wanting to dominate the world at the same time. What could possibly go wrong.

Originally Posted by Hugh Cow

I hope they are very happy together. Unfortunately China has forgotten if it wasn't for western money not the ruble, they would all still be riding on nothing more technical than a bicycle. Come back after a year of sanctions and let us know how swimmingly well the Russian population are going. Two dictators both wanting to dominate the world at the same time. What could possibly go wrong.

Don't worry about the chinkies, they hate the russians as much as the rest of us.

SentinelLabs has identified a new cluster of threat activity targeting Russian organizations increasingly under attack by Chinese APTs. The attacks use phishing emails to deliver Office documents to exploit targets to deliver their RAT of choice, most commonly ‘Bisonal.’
The firm also assesses ‘with high confidence that the threat actor responsible for the attacks is a Chinese state-sponsored cyber espionage group, as also recently noted by Ukraine CERT (CERT-UA).’
Last month, SentinelOne pointed to the CERT-UA public release Alert #4860, which contains a collection of documents built with the Royal Road malicious document builder, themed around Russian government interests. “SentinelLabs has conducted further analysis of CERT-UA’s findings and has identified supplemental Chinese threat activity,” it added.
“China’s recent intelligence objectives against Russia can be observed in multiple campaigns following the invasion of Ukraine, such as Scarab, Mustang Panda, Space Pirates, and now the findings here,” Tom Hegel, senior threat researcher at SentinelOne, wrote in a blog post on Thursday. ​”​Our analysis indicates this is a separate Chinese campaign, but specific actor attribution is unclear at this time. While the overlap of publicly reported actor names inevitably muddies the picture, it remains clear that the Chinese intelligence apparatus is targeting a wide range of Russian-linked organizations,” he added.

Originally Posted by harrybarracuda

While the overlap of publicly reported actor names inevitably muddies the picture, it remains clear that the Chinese intelligence apparatus is targeting a wide range of Russian-linked organizations,” he added.

I am sure the Three Stooges will be along soon to claim this is fake news.

Originally Posted by harrybarracuda

they hate the russians

Originally Posted by bsnub

this is fake news

Exactly.