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

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0007 said:
*Russian Deputy Foreign Minister: Russia Wants to Keep Diplomatic Relations With the West Despite Expulsion of Its Diplomates — IFAX
*Russian Deputy Foreign Minister: European Countries Causing Trouble for Russian Diplomats Are Shooting Themselves in the Foot — TASS
*Russian Deputy Foreign Minister Says He Hopes the West Has Enough Common Sense Not to Play Games Around Russia’s Kaliningrad Exclave — TASS.
*Russian Deputy Foreign Minister Says Such Games Would Be ‘Playing With Fire’ — RIA.
*Russian Deputy Foreign Minister: The EU Will Pay for Its ‘Energy Blackmail’ — TASS.
*Russian Deputy Foreign Minister: We Don’t Have Any Contacts With NATO, There Is Nothing to Talk About at the Moment — TASS.
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I think Lavrov has decided to give the west/EU the finger by allowing a deputy to be the waste of space. A way of 'depowering' the western leaders.

*The Russian Finance Ministry: We Were Forced to Pay Roubles to Holders of 2022 and 2042 Eurobonds After a Foreign Bank Refused to Process a $649.2 Million FX Payment.
*According to the Russian Finance Ministry, a Foreign Bank Has Rejected Russia’s Order for Coupon Payments on Eurobonds Maturing in 2022 and 2042.
*Russia Finance Minstry: Russia May Consider Allowing Foreign Holders of 2022 and 2042 Eurobonds to Convert Rouble Payments to Forex Once Russia’s Access to Its Forex Accounts Is Restored.
*According to the Russian Finance Ministry, a Foreign Bank Has Also Rejected Russia’s Order to Pay the Face Value of 2022 Eurobonds to Their Holders.
*Russian Finance Ministry: Funds for Eurobond Payments Have Been Transferred to the Russian National Settlement Depository.
*Russian Finance Ministry: Foreign Bank Has Also Rejected Russia’s Order to Pay the Face Value of 2022 Eurobonds to Their Holders.
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Perhaps we should blame the Russian deputy for the escalation based on his rhetoric. Re-nail Laborov into spending his time being on point.

Seems to me that the Russians are attempting to force the use of Rubles, the FX they singularly control, and then bitch why people think that's a bad Idea. Nobody in their right mind would accept payment in Rubles for a previously agreed dollar/euro re-payment currency.

I suspect China doesn't want anything todo with it.. it can't cope financially with the destruction of manufacturing exports should the same happen to them. Biden's approach of using economics does a nice job of keeping "non-violent" so allows China to maintain it's stature whilst the US continue to work on undermining the China-Russia relationship.

I know that Putin knows that there will be global economic fallout from the sanctions but unfortunately there is no will to capitulate. People are ****** at Putin. People don't want Putin-products. People don't want to be associated with Putin. So much that they will take a hit and will make medium/long term plans not to be blackmailed or bent over the barrel by someone that openly does not adhere to contracts.

Yes the world is going to have financial crisis but people see Putin for what he is.
 
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englishpremier said:
From what I saw on the maps of the potential oil and gas fields, they were all in Ukrainian controlled territory, not rebel held areas. Not sure how close Russia has got to them other than the fields in the Sea of Azov.
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I had an almighty row with a half dozen or so Americans on a FB group who are convinced the whole thing is about Lithium deposits underneath the Donbas region.
 
*Kremlin: There Are No Grounds for Russia to Truly Default.
*Kremlin: A Default Situation Is Theoretically Possible, but It Would Be an Artificial Situation.
*When Asked When the Next Round of Russia-Ukraine Peace Talks Will Take Place, the Kremlin: Work Is Ongoing.
*In Ukraine Talks, the Kremlin Says There Is Still a Rather Long Road Ahead.

*Putin and Serbian President Vucic Discussed Expanding Economic Cooperation, Including in the Energy Sector — IFAX Cites Kremlin
 
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Some news I missed from about an hour ago:
*Governor of Ukraine’s Luhansk Region: Russian Forces Have Taken Control of 60% of Rubizhne Town.
*Szijjarto, Hungary’s Foreign Minister: A Technical Solution Exists to Allow US to Pay for the Gas, and That the Details of This Solution Are Currently Being Worked Out.

Now:
*China State Refiners Honour Existing Russian Oil Contracts but Avoid New Ones Despite Steep Discounts — Sources — RTRS
*Sinopec, CNOOC, Petrochina, Sinochem Shy Away From Trading Fresh Russian Cargoes for May Loadings — Sources — RTRS
*Unipec, Trading Arm of Sinopec, Warns Global Teams in Recent Weeks Against Risks of Dealing With Russian Oil — Source — RTRS
*Some Independent Chinese Refiners Continue ESPO Crude Imports, Keep Deals Under Wraps — Sources — RTRS
https://www.reuters.com/business/en...sian-oil-trades-teapots-fly-under-2022-04-06/ - 'China’s state refiners are honoring existing Russian oil contracts but avoiding new ones despite steep discounts, heeding Beijing’s call for caution as western sanctions mount against Russia over its invasion of Ukraine, six people told Reuters.'

*Italy’s Ecology Transition Minister, No Further Clawback Measures on Energy Company Profits Are Planned, As Energy Security Is the Top Priority at the Moment.
*UK PM Johnson: There Is a Limit to the Amount of Taxpayers Money We Can Spend Helping People With Global Energy Crisis
*UK PM Johnson: We Can Be “More Urgent” in the Way We Roll out Some Renewable Energy Sources

*China’s Cabinet: New Economic Pressures on China’s Economy — State-Run Media
*China Is to Use Monetary Policy Tools at a Proper Time — CCTV.
*China’s Cabinet: We Will Utilise Various Monetary Policy Tools in a Timely and Flexible Way.
*China Sees More New Downward Pressure in Economy — CCTV
*China Central Banks Says Will Take Steps to Resolve Regional Financial Risks in Timely Way
 
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*German Chancellor Scholz: Russian Soldiers Committed a Massacre on Ukrainian Civilians in Bucha - Reuters
*German Chancellor Scholz: Perpetrators and Those Who Gave Their Orders Must Be Held Accountable
*German Chancellor Scholz: We Must Brace Ourselves for Seeing Further Similar Pictures
*German Chancellor Scholz: I Call on Putin to End This Destructive War Immediately
*German Chancellor Scholz: Until You Withdraw Your Troops From Ukraine We Will Continue to Support Ukraine in All Ways We Can
*German Chancellor Scholz: Whatever Happens, NATO Will Not Become a Party to This War
*German Chancellor Scholz: We Are Delivering Everything From Germany Army Stores That Is Available and Rapidly Effective
*German Chancellor Scholz: We Need to Reduce Our Reliance on Russian Energy Imports
*German Chancellor Scholz: We Are Discussing Possible Security Guarantees With Ukraine
*German Chancellor Scholz: Postponing the Nuclear Exit Is Not a Good Plan.
*German Chancellor Scholz, Asked About Delivering Tanks to Ukraine: We Have to Deliver Weapons That Ukraine Can Use.

https://twitter.com/TRTWorldNow/status/1511666037653180418

*UK to Donate Fleet of Ambulances to Ukraine ~news from 4hr+ ago
https://www.gov.uk/government/news/uk-to-donate-fleet-of-ambulances-to-ukraine

0007 said:
*Italy’s Ecology Transition Minister, No Further Clawback Measures on Energy Company Profits Are Planned, As Energy Security Is the Top Priority at the Moment.
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*Italy’s Ecology Transition Minister: Ministry’s IT Network Is “Being Threatened From Outside”, Ministry’s IT Systems Suspended

*Ukraine's Foreign Minister: Only Way to Stop War Spreading Beyond Ukraine Is to Impose Maximum Sanctions on Russia and to Give Ukraine All the Weapons It Needs
*Governor of Ukraine’s Luhansk Says Ten High-Rise Buildings Are on Fire in Sievierodonetsk Town After Russian Shelling, No Information yet on Casualties

*Russian Oil Companies Are Rapidly Filling Storage Tanks.
*In March, Russian Producers’ Spare Storage Capacity Fell by 27%.
*Orsted A/S - Incident at Anholt Offshore Wind Farm
'At Anholt Offshore Wind Farm in Denmark, a Rotor Including Three Blades Has Separated From the Nacelle of One of the Offshore Wind'

*The United Kingdom Has Begun a Review of Steel Tariff Quotas for Imports From Russia and Belarus.

*EU's Mcguinness: May Need to Address Demand and Supply to Cut Heavy Reliance on Clearing Houses in Britain
*EU’s Mcguinness: Wants to See the ‘Heavy Lifting’ of Moving Euro Derivatives Clearing From London to EU by 2024
*EU’s Mcguinness: EU Will Come Up With ‘Balanced Proposals’ to Incentivise Banks to Clear Euro Derivatives Inside the Bloc
*EU’s Mcguinness: EU Needs to Cut Reliance on UK Clearing Houses in Same Way EU Needs to Cut Reliance on Russian Energy ~???????????

*Russia to Make Dollar Bond Payments in Roubles After US Blockade
'JPMorgan declines to process $649mn after US Treasury ratchets up block on flows of funds from Moscow'
https://www.ft.com/content/f10f7c1d-b7d2-44fd-b236-f58793637cb6

*UN General Assembly to Vote Thursday on Suspending Russia From Human Rights Council — Official — AFP
 
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— Bloomberg (CET Time)

*Hungary Questions Need for EU Unity on Russian Ruble Demand

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*Zelenskiy Says Russia Ambitions Undimmed

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*EU to Build Stockpile to Shield Against WMD Threats

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*Russian Art Worth $46 Million Seized in Finland Under Sanctions

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*Hungary Tells EU Leaders Must Back Moves on Oil, Gas

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*Ukraine Says Invasion Hits Energy Production Sites

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*Social Bond Market to Help Refugees Displaced by Russia’s War

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*Norway Expels Three Russian Diplomats

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*Johnson Says Bucha Killings Aren’t ‘Far Short of Genocide”

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*Mariupol Says Russia Using Crematoriums to Hide Bodies

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*Scholz Condemns ‘War Crimes’ in Ukraine

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*UN to Vote on Suspending Russia From Human Rights Council: AFP

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*German Chancellor Scholz: I Believe That Phase of Globalisation Is Ending in Which Everything Was Very Cheap
 
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— Bloomberg (CET Time)

*Luhansk Governor Warns Russia Is Preparing Offensive

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*Hungary PM Orban: We See Hungary’s Future in the EU.
*Hungary PM Orban: War in Ukraine Is Increasingly “Brutal”, We Need Ceasefire As Soon As Possible.
*Hungary PM Orban: I Am Convinced We Will Pay Price for Sanctions on Russia
*Hungary PM Orban: High Energy Prices Require Urgent Brussels Measures
*Hungary PM Orban: ETS System Should Be Suspended
*Hungary PM Orban: I Have Talked With Russian President Putin Today
*Hungary PM Orban: I Have Asked Putin to Apply Immediate Ceasefire
*Hungary PM Orban: Invited Putin for Peace Talks in Hungary, Response Was Positive but Had Conditions
*Hungary PM Orban: Hungary Has No Problem With Paying for Gas in Roubles
*Hungary PM Orban: If Russia Asks for Payment in Roubles We Will Do So
*Hungary PM Orban: Hungary Has Not Abandoned a Nuclear Project Backed by Russia
*Hungary PM Orban: We Will Not Give In to Pressure to Expand Sanctions to Oil and Gas Imports From Russia

*Natural Gas Jumps 5% to $6.336, on Course for Highest Close Since Dec. 3, 2008
*Global Trade Falls 2.8% As Russia’s War in Ukraine Hits Container Traffic — FT
https://www.ft.com/content/ae48f5b4-4928-4582-803c-6c2e02615154

*German Economy Minister Habeck: The Coal Embargo Has Been Well Planned.
*The United Nations General Assembly Will Vote on Whether or Not to Suspend Russia From the United Nations Human Rights Council on Thursday. — Diplomats.

*Poland's Central Bank Raises Main Interest Rate to 4.50% From 3.50%
*Poland’s Central Bank Says It May Intervene on FX Market

*Russian Ruble Rallies Back to Level Seen Before Ukraine War

0007 said:
*Ukraine's Foreign Minister: Only Way to Stop War Spreading Beyond Ukraine Is to Impose Maximum Sanctions on Russia and to Give Ukraine All the Weapons It Needs
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*Ukraine Defence Minister: Ukraine Needs Foreign Allies to Provide Heavy Weapons to Defend Against Expected New Attacks by Russia
 
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0007 said:
*Russia to Make Dollar Bond Payments in Roubles After US Blockade
'JPMorgan declines to process $649mn after US Treasury ratchets up block on flows of funds from Moscow'
https://www.ft.com/content/f10f7c1d-b7d2-44fd-b236-f58793637cb6

*UN General Assembly to Vote Thursday on Suspending Russia From Human Rights Council — Official — AFP
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Let's call this for what it is - Putin has no desire to pay the foreign debt it owes.

So it is looking highly likely that Russia will default in bonds for US and Euro.
 
0007 said:
*Hungary PM Orban: Hungary Has No Problem With Paying for Gas in Roubles
*Hungary PM Orban: If Russia Asks for Payment in Roubles We Will Do So
*Hungary PM Orban: Hungary Has Not Abandoned a Nuclear Project Backed by Russia
*Hungary PM Orban: We Will Not Give In to Pressure to Expand Sanctions to Oil and Gas Imports From Russia

*Natural Gas Jumps 5% to $6.336, on Course for Highest Close Since Dec. 3, 2008
*Global Trade Falls 2.8% As Russia’s War in Ukraine Hits Container Traffic — FT
https://www.ft.com/content/ae48f5b4-4928-4582-803c-6c2e02615154
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Hungry's PM has always been a little too close to Putin. I would fully expect Hungry to switch sides to the Russian-China-India economic and possibly leave the EU.

I see Russia provides cheap Chinese shipping oil, this allows china to cheap even cheaper. It undercuts global trade and thus will end up with rising tariffs for Chinese goods to maintain a level playing field.
The fun will be that Africa will see cheap imports from China vs costly imports from EU/elsewhere. This helps the silk road initiative.
 
— Bloomberg (CET Time)

*Hungary Doesn’t Rule Out Paying Rubles for Russian Gas

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*Ruble Erases Invasion Loss, Bucking Default Risks, Sanctions

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— Bloomberg (CET Time)

*Ukraine Urges Mass Evacuation of Three Regions

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*NATO SEC. Gen. Stoltenberg: We Must Keep Sanctions on Russia, Increase the Level of Defence and Prepare for a Long-Term War. — Aljazeera on Twitter.

*U.S. Allies to Release 60 Million Barrels From Oil Stockpiles — BBG
*IEA Members Add to 180 Million-Bbl Release Announced by Biden
*IEA Is to Release 120 Mln Barrels of Oil to Ease Prices, With the US Providing Half, the Rest Coming From Other IEA Members. — Major News Wire Reporter.

*Moody’s: The Geopolitical Risk for NATO Countries in Europe Has Increased Structurally, Independent of Their Geographic Location or Energy Reliance.
*Russia Credit Insurance Predicts 99% Chance of Default Within Year

'At least two Indian refiners plan to buy less Saudi oil than usual in May, after the kingdom raised the official selling price (OSP) to record highs for Asia, two sources said on Wednesday, as India increases purchases of cheap Russian crude.'
'India, the world's third biggest oil importer and consumer, has been hit hard by rising crude values, with pump prices in some states touching record highs.'
'The sources at the two Indian refiners declined to be named, citing confidentiality.'
https://financialpost.com/pmn/busin...-to-cut-may-saudi-oil-snap-up-russian-barrels

*Russian Foreign Ministry Spokeswoman: It’s Clear That ‘Criminally Fake’ Images From Bucha Were Designed to Impose More Sanctions on Russia and Derail Peace Talks
*Russia’s Defence Ministry: Russia Treats All Prisoners of War in Accordance With International Humanitarian Law — TASS

*Fed’s Harker: Inflation Is Far Too High — WSJ
*Fed’s Harker: ‘Worried That Inflation Expectations Could Become Unmoored’ — WSJ
*Fed’s Harker: Expects Steady, Deliberate Path of Rate Rises — WSJ
*Fed’s Harker: Fed Will Start Cutting Balance-Sheet Size Soon — WSJ

*Fed’s Harker: I Expect a Series of Deliberate but Methodical Rate Hikes.
*Fed’s Harker: I Expect the Fed Will Begin Decreasing Its Balance Sheet Soon.
*Fed’s Harker: I Am Worried That Inflation Expectations Will Become Unmoored.
*Fed’s Harker: We Are Acutely Disturbed About Far-Too-High Inflation.
*Fed’s Harker: I See US GDP Growth Slowing to Around 3%-3.5% This Year.

https://www.philadelphiafed.org/the-economy/monetary-policy/220406-delaware-chamber-of-commerce
 
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Hmm Putin claims he won't pay in dollars only in Rubles, Russian finance minister stays they can pay in Dollars but was blocked. I see he doesn't say it was blocked by Putin. So Putin is the architect of Russia defaulting.
 
NickK said:
Hmm Putin claims he won't pay in dollars only in Rubles, Russian finance minister stays they can pay in Dollars but was blocked. I see he doesn't say it was blocked by Putin. So Putin is the architect of Russia defaulting.
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I think it was basically caused by the US Treasury:

0007 said:
*The US Treasury Has Not Authorised the Latest Russia Sovereign Bond Coupon Payments to Be Processed by Correspondent Bank JPMorgan — According to a Source Familiar With the Matter.
*The US Treasury Will Not Allow Any Dollar Debt Payments to Be Made From Russian Government Accounts at US Banks — US Spokesperson.
*US Treasury: Russia Will Not Be Allowed to Pay Its Bonds With Cash In US Banks.
*US Cracks Down on Russian Debt Payments, Latest Sovereign Payments Halted — RTRS
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Here's the latest Bloomberg article on it: https://www.bloomberg.com/news/arti...ign-banks-rejected-649-2-million-bond-payment
Bloomberg article - https://imgur.com/a/I4RyRpJ
 
*NATO Chief Stoltenberg: Ukraine Has “Urgent Need” for Military Support, Important That Allies Agree to Further Support Kiev
*NATO Chief Stoltenberg: Warns Ukraine War Could Last ‘Many Months, Even Years’ — AFP

*Fed’s Harker: I Don’t See High Inflation Going Away Quickly
*Fed’s Harker: High Gasoline Prices Will Be With Us for a While
*Fed’s Harker: Inflationary Consequences From Conflict Will Be With US for Some Time.
 
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0007 said:
I think it was basically caused by the US Treasury:



Here's the latest Bloomberg article on it: https://www.bloomberg.com/news/arti...ign-banks-rejected-649-2-million-bond-payment
Bloomberg article - https://imgur.com/a/I4RyRpJ
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I remember but I'm attempting to understand the rationale.

Debt in dollars, Putin cannot service debt in Dollars but states he can pay in Rubles.

I'm trying to think if this is financial leakage and therefore Putin would have to sell his US debt bond to another country such as China. Forcing that country to take the risk and stabilising the Dollar. That would mean that the US would get Dollars from a non-russian country for Russia's debt, that debt and Risk of repayment terms with Putin would then become China's (if they took the debt).

I'm unsure of the legality of blocking a payment of debt as contractually agreed. Biden did say through US banks. It also doesn't say if the funds from the US banks are paid from offshore Russian dollar accounts. Thus Putin is bypassing the section effect on the Ruble/russian central bank.

Unfortunately I can't read the article it's behind a £25 paywall..
 
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