That old fart isn't going to survive for much longer when the people start to not only question, but demand is blood for failing the people so damn bad
Miscellaneous News
- Thread starter bd popeye
- Start date
Saudi Arabia and the UAE decline Biden’s phone calls and refuse to speak with Biden about countering Russia and containing a surge in oil prices. - Wall Street Journal 2022.03.08
Both Saudi Crown Prince Mohammed bin Salman and the U.A.E.’s Sheikh Mohammed bin Zayed al Nahyan took calls from Russian President Vladimir Putin.
So basically Russian export of oil and gas covered last year 40% of their budget. EU is not going to include oil and gas in their sanctions. Everybody is paying 2X to 3X higher prices, funding almost 100% of last budget. And funny part, the effect of sanctions were erased with Putin's two calls.
It's worse... US and EU will have to buy Oil and particularly Gas (in the EU's case) at the current SPOT PRICE $4.000+ per 1.000 cubic meters, as the Europeans deliberately did not refill their strategic gas reserves during the summer on the order of US, thus now the gas storage is empty. Contracted price was $300 per 1.000 cubic meters!!! Doubt that Russia will agree to accept further payment in the US dollars!
It does not matter that EU is not targeting Russian Oil & Gas. Russia now sanctions the EU on ALL Russian exports.
BREAKING 2022.03.09: Russia confirms Putin BANS EXPORT of products and raw materials outside of the Russian Federation until at least 2023.
The full list of what’s banned will be determined by the Russian government soon.
“The government will define the list of the countries to be covered by these decisions within two weeks.”
RUSSIA's TOP-10 EXPORTS (2021):
- Hydrocarbons including oil: US$141.3 billion (42.1% of total exports)
- Gems, precious metals: $30.4 billion (9%)
- Iron, steel: $16 billion (4.8%)
- Cereals: $9.5 billion (2.8%)
- Machinery including computers: $8.3 billion (2.5%)
- Wood: $8.2 billion (2.5%)
- Fertilizers: $7 billion (2.1%)
- Copper: $5.6 billion (1.7%)
- Aluminum: $5.5 billion (1.6%)
- Fish: $4.6 billion (1.4%)
Russia’s Top-10 Exports accounted for 70.5% of the overall value of its global shipments.
IMPORTERS: China (14.6% of the global total), Netherlands (7.4%), United Kingdom (6.9%), Germany (5.5%), Belarus (4.8%), Turkey (4.6%), Kazakhstan (4.2%), South Korea (3.7%), United States (3.3%), Italy (3%), Poland (2.8%) and Japan (2.7%).
Russia is already diversifying its crude oil supply to China.
The Russian government has been allowing the payments in Rubles to external landers of its citizens. At this point, it seems Russia just doesn't care about the US dollar. They have plan... they have their own things going on.
See also Professor Michael Hudson's recent article on this!
Both Saudi Crown Prince Mohammed bin Salman and the U.A.E.’s Sheikh Mohammed bin Zayed al Nahyan took calls from Russian President Vladimir Putin.
So basically Russian export of oil and gas covered last year 40% of their budget. EU is not going to include oil and gas in their sanctions. Everybody is paying 2X to 3X higher prices, funding almost 100% of last budget. And funny part, the effect of sanctions were erased with Putin's two calls.
It's worse... US and EU will have to buy Oil and particularly Gas (in the EU's case) at the current SPOT PRICE $4.000+ per 1.000 cubic meters, as the Europeans deliberately did not refill their strategic gas reserves during the summer on the order of US, thus now the gas storage is empty. Contracted price was $300 per 1.000 cubic meters!!! Doubt that Russia will agree to accept further payment in the US dollars!
It does not matter that EU is not targeting Russian Oil & Gas. Russia now sanctions the EU on ALL Russian exports.
BREAKING 2022.03.09: Russia confirms Putin BANS EXPORT of products and raw materials outside of the Russian Federation until at least 2023.
The full list of what’s banned will be determined by the Russian government soon.
“The government will define the list of the countries to be covered by these decisions within two weeks.”
RUSSIA's TOP-10 EXPORTS (2021):
- Hydrocarbons including oil: US$141.3 billion (42.1% of total exports)
- Gems, precious metals: $30.4 billion (9%)
- Iron, steel: $16 billion (4.8%)
- Cereals: $9.5 billion (2.8%)
- Machinery including computers: $8.3 billion (2.5%)
- Wood: $8.2 billion (2.5%)
- Fertilizers: $7 billion (2.1%)
- Copper: $5.6 billion (1.7%)
- Aluminum: $5.5 billion (1.6%)
- Fish: $4.6 billion (1.4%)
Russia’s Top-10 Exports accounted for 70.5% of the overall value of its global shipments.
IMPORTERS: China (14.6% of the global total), Netherlands (7.4%), United Kingdom (6.9%), Germany (5.5%), Belarus (4.8%), Turkey (4.6%), Kazakhstan (4.2%), South Korea (3.7%), United States (3.3%), Italy (3%), Poland (2.8%) and Japan (2.7%).
Russia is already diversifying its crude oil supply to China.
The Russian government has been allowing the payments in Rubles to external landers of its citizens. At this point, it seems Russia just doesn't care about the US dollar. They have plan... they have their own things going on.
See also Professor Michael Hudson's recent article on this!
Biden's "supreme sacrifice" is cutting 3% of oil imports from Russia. Big whoop.
He is trying to goad the Europeans into doing the same. If they do it they will be essentially cutting their own throats.
The thing is because the US insists on using market prices their price will reflect the global price. So Biden better make up with Venezuela and Iran to get that 3%. If I was Maduro I would be demanding my gold and refineries and petrol stations they confiscated before I sold the US a single barrel of oil. Then I would dismantle the refineries, pack them up, and set them up in Venezuela.
Either he concedes or he does the same thing Nixon did. i.e. Biden bans the export of oil from the US. But good luck doing that.
He is trying to goad the Europeans into doing the same. If they do it they will be essentially cutting their own throats.
The thing is because the US insists on using market prices their price will reflect the global price. So Biden better make up with Venezuela and Iran to get that 3%. If I was Maduro I would be demanding my gold and refineries and petrol stations they confiscated before I sold the US a single barrel of oil. Then I would dismantle the refineries, pack them up, and set them up in Venezuela.
Either he concedes or he does the same thing Nixon did. i.e. Biden bans the export of oil from the US. But good luck doing that.
Old habits die hard!
A red-guard during the cultural revolution is now the henchman of western hegemony and hypocrisy. Can't say I am surprised.
He was so damn hard-core of a red-guard!!!
This is the American website, more or less the operational base for these "Chinese Liberal Intellectuals."
supercat
Major
Been there, done that: the U.S. did not find WMD - they seized gold instead from the "relatively uncivilized Iraq", completely forgetting that Mesopotamia is the cradle of civilization.
The US also did it in Ukraine. They took all their gold. Next time you hear that Ukraine's Euromaidan coup was spontaneous just think about that. Which country would just surrender their gold reserves like that?
Atleast one good result of this Ukraine crisis is Chinese solar manufacturer is going to have massive payday as the world accelerates transition to renewable energy and clean energy.
Ukraine is sacrificial lamb but the world is saved from global climate change, so long as we can avoid nuclear winter. ;-)
Ukraine is sacrificial lamb but the world is saved from global climate change, so long as we can avoid nuclear winter. ;-)
The fact that Taiwan, South Korea and Japan sanctioned Russia sends red flags in Beijing not because it harms Beijing because they are aren't the sanctioned party here but the fact that they are completely aligned with an anti-sino mindset and camp pretty much draws the line in the sand. It sends a message across..
They wouldn't wait a second to sanction China if it came to that
They wouldn't wait a second to sanction China if it came to that
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AssassinsMace
Lieutenant General
It's called suicide of their own economies since China is their number one customer. Please do.