Ukraine Invasion - Please do not post videos showing attacks/similar

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*Russia’s Transneft Board Member: Company Can Only Keep Insignificant Volumes of Oil From Oil Producers in Its System — Interfax

*Germany's Chancellor Scholz: Must Close Loopholes in Sanctions to Keep Up Pressure on Russia’s Putin
*Germany’s Chancellor Scholz: Germany Expects to Be Independent of Russian Oil and Coal Imports This Year, but Gas Will Take Longer.
*Germany’s Chancellor Scholz: I Looked at Gas Delivery Contracts in Euros and Dollars and Told Putin They’ll Stay That Way.
*Germany’s Chancellor Scholz: Businesses Must Be Able to Pay for Gas in Euros.

*Western Official: I Don’t Think We Are Seeing Any Signs There Is a Really Serious Attempt at Finding Compromise in Russia-Ukraine Peace Talks
*Western Official: It Is Incredibly Difficult for Russia to Stop Selling Oil and Gas to Western Europe, Skeptical These Threats Will Be Seen Through

*Ukraine State Nuclear Company: Russian Forces Are Departing the Chernobyl Nuclear Power Plant.
*Ukraine State Nuclear Company: Some Russian Forces Are Still Present on the Chernobyl Plant Territory.
*Ukraine State Nuclear Company: Russian Military Are Departing Chernobyl Are Heading for the Belarus Border.
 
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The gas thing confuses the heck out of me. Can someone with simplify it for me? It appears that Putin isn;t specifically requesting a direct payment in Rubles:

"From 1 April, they will have to open special Russian bank accounts to transfer foreign funds and the bank will then use them to purchase roubles."

Is this principally the same thing or...?
 
DrToffnar said:
The gas thing confuses the heck out of me. Can someone with simplify it for me? It appears that Putin isn;t specifically requesting a direct payment in Rubles:

"From 1 April, they will have to open special Russian bank accounts to transfer foreign funds and the bank will then use them to purchase roubles."

Is this principally the same thing or...?
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I think he back tracked when everyone refused so now he's come up with a scheme where the same thing happens.

A lot of stuff we do with China goes through the same system - Chinese clearing house receives the payment and then they sort it out.
 
dLockers said:
I think he back tracked when everyone refused so now he's come up with a scheme where the same thing happens.

A lot of stuff we do with China goes through the same system - Chinese clearing house receives the payment and then they sort it out.
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So, in principle everything remains the same or does the West flout their won sanctions by doing this?
 
Past 15mins:
*S&P Global Ratings: We Have Withdrawn Our Local Currency Ratings on Russian Insurers.
*US Announces Additional Russia-Related Sanctions Designations — US Treasury Website.
*US Names More Individuals and Entities in New Russia Sanctions — US Treasury Website.
*US Adds 13 Individuals and Several Entities to the Sanctions List Related to Russia — US Treasury Website.
*US Treasury Department Expands Their Sanctions Authorities to Include the Aerospace, Marine and Electronics Sectors of the Russian Economy — Website.
*US Takes Bank of Russian Ozon Online Retailer off OFAC Sanction List — Interfax.
https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20220331

*Senior EU Official: There Won’t Be a Joint Statement out of the EU-China Summit. There Also Will Not Be a Summit With a Bunch of Deliverables — WSJ’s Norman.
*Senior EU Official: The EU Wants to See China Defend and Strengthen the Rules-Based International Order — WSJ’s Norman.
https://twitter.com/laurnorman/status/1509536540929712128

*French Official: Existing Gas Contracts Are Being Respected.
*French Official: France Is Preparing a Gas Contingency Plan in the Face of Uncertainties.
*Kuwait Supports OPEC+ Output Increase Decision — KUNA
*IMF Spokesperson: Countries Should Avoid Starting Fresh Trade Wars, Which Would Exacerbate Supply Disruptions.
*IMF Spokesperson: Achieving a Soft Landing for the US Economy in Order to Lower Inflation Will Be Difficult and Comes With Significant Downside Risk.
 
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*UK’s Foreign Minister Truss: We Want More Sanctions Against Russia in the Areas of Ports, Gold, Oil, and Gas.
*UK’s Foreign Minister Truss: We Must Reduce Our Reliance on Russian Oil and Gas.
*UK’s Foreign Minister Truss: The UK Wants More Sanctions on Russian Banks.
*India’s Foreign Min. Jaishankar: India and China Agree on the Need for a Ceasefire in Ukraine.
https://youtu.be/xijlIUUEnzQ

*Biden Administration Has Announced a Plan to Release Oil From Its Strategic Reserve - Statement.
*Biden Is to Announce the Largest Oil Reserves Release in US History.
*Over the Next 6 Months, the US Is to Release 1 Mln Bpd of Oil From the Strategic Reserve - Statement.
https://www.whitehouse.gov/briefing...-to-respond-to-putins-price-hike-at-the-pump/

*Senior Biden Administration Official: Biden Is to Speak This Afternoon on the Effect of Putin’s Price Hike on Gas Prices for US Families.
*Biden Administration: The Oil Release Is to Immediately Shore up Global Supply.

*White House: Biden Will Call On Congress to Pass His Plan to Accelerate the Transition to Sustainable Energy Produced in the US.
*White House: Biden Is Calling On Congress to Make Companies Pay Fees on Wells From Their Leases That They Haven’t Used in Years and on Acres of Public Lands That They Are Hoarding Without Producing.
*White House: Biden Will Issue a Directive, Authorising the Use of the Defence Manufacturing Act to Assure American Production of Vital Commodities in Order to Bolster Our Clean Energy Economy.

*Russian Daily Oil and Gas Condensate OutPut Down 0.5% in March vs February - IFX.
 
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Chuk_Chuk said:
Not sure if this has been posted but an interesting viewpoint. Going to ruffle some feathers with his take on Putin not being mad and that this only happened because Biden is in charge;).
Made some good points on why sanctions are pointless and believes that Putin is going to grab as much as possible before 2024 (next american election). Some interesting history lessons in there but his point is that we need to go head to head with Putin to force him to stop.
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Finally got round to watching this. It's a good video, and I think he's largely right: in particular I think his points about the need to stand up to Putin are bang on. I don't think he's right about sanctions though, it's true that they are unlikely to cause regime change but they are going to utterly trash Russia's industrial capabilities and thus ability to build military. Russia's extraction economy may continue to make money; but the rest of it is falling apart and will only get worse.

He's also wrong that Europe needs the US. The European nations should get together and send troops into Ukraine.
 
*German Finance Minister Lindner: We Will Continue to Pay for Russian Energy Imports in Euros.
*German Finance Minister Lindner: France and Germany Agree That There Can Be No Political Blackmailing on Gas.
*German Finance Minister Lindner: We Will Study the Details of Russia’s Latest Demands on Gas Payments.

*UK PM Johnson’s Spokesman: We Are Monitoring the Implications for the European Market of the Russian Demand for Gas Payments in Roubles.
*UK PM Johnson’s Spokesman: The UK Is Not Looking to Pay Russia for Gas in Roubles.

0007 said:
*Biden Administration Has Announced a Plan to Release Oil From Its Strategic Reserve - Statement.
https://www.whitehouse.gov/briefing...-to-respond-to-putins-price-hike-at-the-pump/
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*Senior US Administration Official: It Will Take Months Not Days for Additional US Oil Production to Come on Line.
*Senior US Administration Official: The Oil Release Is Coordinated With Allies Around the World.
*Senior US Administration Official: We Will Restock the Oil Reserve When Prices Are Lower.
*Senior US Administration Official: A Significant Portion of the Drawdown Release Will Be Delivered via Pipeline.
*Senior US Administration Official: The Oil Release Will Have Meaningful Effects.
*Senior US Administration Official: All Earnings From Oil Sales Will Be Used to Replenish the Reserve.

Trafigura: SPR Can Likely Only Deliver 400k-500k Bpd of Oil.
 
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NickK said:
https://www.bbc.co.uk/news/world-europe-60938538

Macron sacks his intel chief - must be a PITA not being trusted as part of NATO. Macron would have had his intel hot to trot with his chats with Putin.

I suspect Macron also is attempting to blame someone else for his "Putin is a friend honest peoples" debacle ahead of the election..
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Quite possibly. They did drop the ball a bit on this one, US/UK warning of the invasion, Macron a few weeks back coming out of a meeting with Putin convinced he'd got an agreement for Russia to move troops back from the border. He got completely played and I guess he's not too happy at the int he had access to.
 
I still don't really understand. He's asking for payments to be made in Rubles, but it appears what he actually means is that we can still pay in the traditional currencies, but just to Gazprom specific accounts. If that's the case, what's the issue?
 
0007 said:
*UK’s Foreign Minister Truss: We Want More Sanctions Against Russia in the Areas of Ports, Gold, Oil, and Gas.
*UK’s Foreign Minister Truss: We Must Reduce Our Reliance on Russian Oil and Gas.
*UK’s Foreign Minister Truss: The UK Wants More Sanctions on Russian Banks.
*India’s Foreign Min. Jaishankar: India and China Agree on the Need for a Ceasefire in Ukraine.
https://youtu.be/xijlIUUEnzQ
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*UK’s Foreign Minister Truss: We Must Respect Countries’ Decisions on Russia Energy.
*UK’s Foreign Minister Truss: We Respect India’s Decision to Buy Russian Oil.
*India’s Foreign Min. Jaishankar: When Oil Prices Go up, It Is Natural for Countries to Look For Deals That Benefit Their People.

*Russia Bans Entry to Top EU Officials As an Answer to Sanctions.
*Russian Foreign Ministry: We Are Expanding Sanctions Against EU Officials — Interfax.
*The Russian Foreign Ministry Has Announced That Top EU Officials Will Be Prevented From Entering Russia. — Interfax.
*China Hits out ‘Broken US Promises’ Over South China Sea Activity — SCMP.
https://www.scmp.com/news/china/military/article/3172645/china-hits-out-broken-us-promises-over-south-china-sea-activity

*Ukraine Interior Ministry Adviser: The Main Battles Are Moving East to Mariupol, and Between Izyum and Volnovakha.
*US Official: We Are Still Seeing Artillery Fire and Airstrikes Around Kyiv, but Some Russian Forces Are Still Pulling Back From Kyiv.

0007 said:
*Senior US Administration Official: It Will Take Months Not Days for Additional US Oil Production to Come on Line.
*Senior US Administration Official: The Oil Release Is Coordinated With Allies Around the World.
*Senior US Administration Official: We Will Restock the Oil Reserve When Prices Are Lower.
*Senior US Administration Official: A Significant Portion of the Drawdown Release Will Be Delivered via Pipeline.
*Senior US Administration Official: The Oil Release Will Have Meaningful Effects.
*Senior US Administration Official: All Earnings From Oil Sales Will Be Used to Replenish the Reserve.
Click to expand...
*US Official: Biden Has Conversed With Leaders in the Oil Business.
*US Official: Additional Barrels of Oil Are Expected to Enter the Market Very Soon.
*US Senior Administration Official: The DOE Will Shortly Submit a Notice Putting Extra Barrels on the Market Beginning in May.
*US Senior Administration Official: There Should Be Penalties for Oil Firms That Sit on Leases but Do Not Use Them.
*US Senior Official: On Oil Permits, Biden Will Advocate for a Use It or Lose It Policy.
*US Senior Administration Official: Biden Will Issue a ‘Use It or Lose It’ Policy on Thursday, Charging Oil Corporations That Sit on Inactive Wells or Underutilised Leases.
*US Senior Administration Official: The US Has Been in Contact With OPEC Partners About Energy Security and Supplies in Recent Weeks.

*House Rep. Speaker Pelosi: Gasoline Rebates to Customers Are Among the Proposals Being Studied As an Alternative to Suspending the Federal Gasoline Tax.
*House Rep. Speaker Pelosi: Weill Wait For Biden’s Decision on How to Reduce Fuel Prices.

*The United Kingdom Is Considering Joining the United States’ Oil Reserve-Release Plan.
*OPEC Holds a Brief Emergency Meeting to Abandon IEA From Trusted Data Sources. — OPEC Source.

*Russia’s Putin Decree on Gas Payments Applies to Gas Deliveries Due After April 1st. — Person Familiar With the Matter.
*Payments on Some Gas Supply Contracts With Gazprom Are Due in the Second Part of April, While Others Are Due in May. — Source Familiar With the Issue.
 
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Rilot said:
He won't do it. He needs the money.
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I think this quote is going to have aged badly in under 24 hours.

The money will be used to buy roubles prior to them being used to purchase a commodity. Anyone who wants the commodity needs roubles, therefore they increase in scarcity and thus value, undoing the damage done by the sanctions imposed on Russia. The EU really doesn't have a choice, they aren't prepared, Germany having to pause their economy indefinitely would at least initiate a massive recession if not an out right depression. Fun times!

Also, you have to laugh at the utter hypocrisy of various EU country ministers saying "they cant do that, we have contracts", having just undermined the value of contracts through their unilateral sanctions :D
 
DrToffnar said:
I still don't really understand. He's asking for payments to be made in Rubles, but it appears what he actually means is that we can still pay in the traditional currencies, but just to Gazprom specific accounts. If that's the case, what's the issue?
Click to expand...

So to buy Putin-gas you need to pay in Putin-rubles, which means you need to go to the Putin-central-bank to pay US$, Euro$, Rupees or Rim' to get Putin-rubles.

Putin can then set whatever exchange rate he wants and the collected exchanged money can be laundered through other countries to fund the war or Putin's regime/superyacht costs. The process can then be used to prop up the Putin-Ruble so that it doesn't take a further nose dive.

Perhaps the EU could offer to pay in Ukrainian Hryvnia?
 
*UK Defence Minister: The UK Has Agreed With Partners to Send More Lethal Aid to Ukraine.
*UK Defence Minister: Additional Equipment Heading to Ukraine Would Include Longer-Range Artillery and Heavier Anti-Aircraft Weaponry.
*India’s Foreign Min. Jaishankar: There Is a Campaign to Protest India’s Purchase of Russian Oil.
https://www.reuters.com/business/ae...l-aid-ukraine-uk-defence-minister-2022-03-31/

*Clarification on Gas Payments Is Required Because There Is Anticipation That Some Consumers Would Be Disconnected From Gas Supply As Early As Tomorrow. — Russian Source Familiar With the Matter.
*Russian Foreign Minister Lavrov Is to Meet With India’s Prime Minister Modi on Friday — Statement.
*Poland Is Asking the EU for More Than 2.2 Billion Euros for the Maintenance of Ukrainian Refugees

*S&P: The Global Macroeconomic Repercussions of the Russia-Ukraine War Appear to Be Moderate for the Time Being, Following a Good Start to 2022.
*S&P: Increased Us Dollar Rates Will Tighten Financial Conditions, Slow GDP, and Have a Spill Over Effect on Other Economies.
*S&P: Despite Its Avowed Alliance With Russia, We Expect China to Stay out of the Fight and Provide No Direct Support.
*S&P: Russia’s and Ukraine’s Production and GDP Will Both Decline Considerably As a Result of the Conflict.

*The United Kingdom Has Added Three New Entities to the List of Sanctions Against Russia.
*US Crude Production Fell to 11.4 Mln Bpd in January, Lowest Since Sept 2021 — EIA
 
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