The Demolition of Russia's Economy

[virtusa]

Putin in crisis: Russia's oil and gas revenues PLUMMET as sanctions finally pay off
RUSSIA'S oil and gas revenues have plummeted, suggesting Western sanctions issued in response to the country's invasion of Ukraine are having an impact on Vladimir Putin's regime.
By Teresa Gottein Martinez
18:33, Wed, Aug 3, 2022 | UPDATED: 19:51, Wed, Aug 3, 2022
35

Expert says the Kremlin is worried about economic sanctions

Moscow's additional oil and natural gas revenues fell below estimates, reaching 259 billion rubles (about £3.5 illion) in July, the Ministry of Finance of Russia reported Wednesday, adding that this is 74.7 billion rubles lower than projections.

 

[virtusa]

Russia's behavior just confirmed that it is hit very hard by the economical sanctions.

Gazprom: "Supply of gas turbine for Nord Stream pipeline impossible due to sanctions"

The return of a repaired gas turbine for the Nord Stream pipeline is “impossible” due to sanctions against Russia. That is what the Russian state gas company Gazprom said. The different sanctions in Canada, the United Kingdom and the European Union and the lack of clarity "about the current situation and Siemens' contractual obligations" are the cause, according to Gazprom.

Siemens, which had sent the turbine to a factory in Canada for maintenance where it became stuck due to sanctions, said earlier Wednesday that it is now up to Russia for the turbine not to be delivered. That country would have yet to submit an official request.

German Chancellor Olaf Scholz also stated that Russia is holding things up. He considers Russia responsible for the problems with a gas turbine. There are no obstacles on the German side, Scholz said. Moscow is using the turbine as a "pretext" to pressure Europe with reduced gas supplies, it says. Gazprom cut gas supply via Nord Stream in two steps in June to 40 percent of normal levels. Following a planned maintenance shutdown last month, Gazprom further cut deliveries to one-fifth of its normal gas supply. Gazprom's new comments therefore fuel fears that Russia wants to turn off the gas tap to Germany completely.

The German government has long accused the Kremlin of using gas supplies as a weapon. Of all European countries, Germany is the most dependent on Russian gas.

 

[TreeFrogTrader]

Putin increasing turning Russia into the Hotel California for foreign companies whereby "you can check out, but never leave" or at least until he says so.


Putin Bans Oil Companies, Banks From Exiting Nation to Year-End

• Exxon and partners won’t be able to quit Sakhalin-1 oil field
• Many international firms consider leaving Russia over invasion

The decree also orders the nation’s government to prepare a list of other energy companies and banks with foreign shareholders that may be subject to the same restrictions.

https://www.bloomberg.com/news/arti...mpanies-banks-from-exiting-nation-to-year-end

 

[ipatent]

Why The West Is Easing Its Sanctions On Russia

• While the EU remains determined to punish Russia for its invasion of Ukraine, a shortage of energy and food is forcing the group to ease sanctions.
  
  
• The EU has already added exemptions to its sanctions to reduce disruptions to essential goods, while the U.S. is now pushing an oil price cap instead of an embargo.
  
  
• More recently, it seems that the UK is increasingly hesitant about joining the oil insurance ban despite its significant market share in the industry.
  

 

[gwb-trading]

Why The West Is Easing Its Sanctions On Russia

• While the EU remains determined to punish Russia for its invasion of Ukraine, a shortage of energy and food is forcing the group to ease sanctions.
  
  
• The EU has already added exemptions to its sanctions to reduce disruptions to essential goods, while the U.S. is now pushing an oil price cap instead of an embargo.
  
  
• More recently, it seems that the UK is increasingly hesitant about joining the oil insurance ban despite its significant market share in the industry.

ZeroHedge -- a Kremlin propaganda outlet. LOL.

The reality is that the Russian economy and imports are falling through the floor. In July the export of natural gas from Russia is sinking as well. Only a few essential goods have been exempted from the sanctions on humanitarian grounds. The sanctions are working well -- an article which attempt to push talking points that the sanction are not working is laughable -- the statistics say otherwise.

 

[Atlantic]

https://oilprice.com/Energy/Natural-Gas/How-Will-Gazprom-Fare-Without-Its-Biggest-Cash-Cow.html

 

[Cuddles]

ZeroHedge -- a Kremlin propaganda outlet. LOL.

The reality is that the Russian economy and imports are falling through the floor. In July the export of natural gas from Russia is sinking as well. Only a few essential goods have been exempted from the sanctions on humanitarian grounds. The sanctions are working well -- an article which attempt to push talking points that the sanction are not working is laughable -- the statistics say otherwise.

interesting...

Enjoy this fact...

PRESIDENT DONALD TRUMP

Say it again over and over till you get used to it.

7 Harsh Realities Of Life Millennials Need To Understand
http://www.zerohedge.com/news/2016-03-10/7-harsh-realities-life-millennials-need-understand

An Inconvenient Truth: How The Obama Administration Became Earth's Largest Arms Dealer
http://www.zerohedge.com/news/2016-...inistration-became-earths-largest-arms-dealer

With the Obama presidency in its final year, there is one central element of his foreign policy that has received little attention – the dramatic acceleration of lethal weapons exports by the U.S. military and defense contractors. As Ammo.com details, the Obama administration has approved more lethal weapon sales to more foreign countries than any U.S. administration since World War II. Many billions more than G.W. Bush's administration, in fact. And some of these sales will likely result in unintended consequences i.e. "blowback" – especially as more than 60 percent of them have gone to the Middle East and Persian Gulf.

(After all, U.S. weapons supplied to the mujaheddin in Afghanistan to fight the Soviets were then used to help launch Al-Qaeda. Arms supplied to Iraqi security forces and Syrian rebels have been captured by ISIS. And “allies” from Bahrain to Egypt to Saudi Arabia have used U.S.-supplied weapons to defeat homegrown democracy movements.)

On May 23rd, President Obama announced at a press conference in Hanoi that the U.S. would be lifting its decades-long embargo on sales of lethal weapons to Vietnam. Such a reversal in U.S. foreign policy raises questions: How does the U.S. arms export market actually work? Which companies in the military-industrial complex profit from these sales? Who really ends up with U.S. weapons? And most importantly, how many of those weapons could eventually be used against us?

(More at above url with many diagrams)

Carter has a point which is hard to disagree with.

More Hillary Cronyism Revealed: Cisco Used Clinton Foundation To Cover-up Human Rights Abuse In China
http://www.zerohedge.com/news/2015-...ed-clinton-foundation-cover-human-rights-abus

The article is well done. I will quibble with one thing in it - "only 25% of students attending community college graduated". Many student attend 2 year colleges to either improve grades to get into a four year school, or to save money initially before transferring to a four year school. Most of these transfers to four year schools occur before the two year mark. At most two year community colleges at least 25% of the people transfer out and go on to successfully land 4 year degrees at another university. The "only 25% of students attending community college graduated" is misleading in regards to the success of community colleges.

This is a good article. I would urge everyone to check it out.

Europe Does It Again: Cyprus Depositor Haircut "Bailout" Turns Into Saver "Panic", Frozen Assets, Bank Runs, Broken ATMs
http://www.zerohedge.com/news/2013-...aircut-bailout-turns-saver-panic-bank-runs-br

She just keeps digging the hole deeper and deeper for herself...

Hillary Mocks FBI Claim She Wiped Email Server Clean, "What With A Cloth Or Something?"
http://www.zerohedge.com/news/2015-...ed-email-server-clean-what-cloth-or-something

The stunning imbroglio of Hillary Clinton's path to The White House took another absurd twist tonight when just hours after The FBI confirmed an "attempt" was made to wipe the hard drive of her email server (or in other words, remove all data on it), the former secretary of state seemed to mock the claims in a press conference. When asked specifically if she wiped the server, she 'ummed' and 'ahhed' then jokingly said "what with a cloth or something?"

 

[terr]

https://www.reuters.com/investigates/special-report/ukraine-crisis-russia-missiles-chips/

Russian missiles contain a lot of Western technology that is now under sanctions. So they shouldn't be able to produce any more. (And frankly the West should not have supplied the parts to them prior to the war either).

 

[TreeFrogTrader]

Sweet!

Another instance where Russia is being forced to loosen its grip on its neighbors who want to lean away from Moscow. You could argue that it will hurt them too because there is less Russian cash to inject in their regions. But not really in my view. They have lots of EU, American, and China interest in those areas- such as K-stan.

This is another example of the type of thing that sets in over time with the sanctions. Everything is not about what the articificially propped up rouble is doing this week.



Russia May Give Up Majority Stake in Eurasian Development Bank

• Kremlin holds a 66% stake in the development institution
• Kazakhstan may become the lender’s largest shareholder

https://www.bloomberg.com/news/arti...p-majority-stake-in-eurasian-development-bank

 

[SunTrader]

Froggie came out of his tree to drop a load of Putin ....