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Kremlin tries to look immune to sanctions, but new Russian car shows cracks in the façade

The first Russian car produced since the invasion of Ukraine had to sacrifice safety due to sanctions in "a very symbolic step backwards" for Russia's standing globally, experts said.
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"As a result, the company’s affordable four-door passenger car Lada Granta, will no longer feature air bags, anti-lock braking systems, electronic stability control or emergency retraction locks on seat belts. It also fails to fulfill the 21st century emission standards adopted by many of Russia’s neighbors."

Surely China could have sent it parts...
 
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Fed raises key interest rate by 0.75% as it hardens fight against inflation

The central bank delivered its biggest interest rate hike since 1994 as the latest inflation data shows consumer prices are still climbing at a record pace.
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Answering the President's call to action

“There is no question that (Russian President) Vladimir Putin is principally responsible for the intense financial pain the American people and their families are bearing,”

"Today's inflation report confirms what Americans already know. Putin's price hike is hitting America hard."

"We’ve never seen anything like Putin’s tax on both food and gas,"
 
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Ukraine accuses major Russian bank of bankrolling Russia's war effort

Ukraine is appealing to Washington and Brussels to take action against Gazprombank, which it says is helping finance Russia's invasion of Ukraine, even paying the troops.
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"Gazprombank, Russia’s third largest bank, has been spared the kind of severe restrictions facing many other Russian lenders. It continues to oversee transactions in dollars and euros, and remains part of the international SWIFT bank messaging system."
 
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Ukraine war: Russia becomes China's biggest oil supplier

Chinese energy giants have been ramping up imports of heavily discounted Russian oil in recent months.
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"And for every 10 barrels of Russian oil China typically bought before the war, the UK and US between them bought one. Moscow may not struggle too hard to plug at least some of the gap as those two nations take their custom elsewhere.

Overall, exports of Russian oil and gas are falling and Moscow's revenue from energy sales has also declined from a peak of well over $1bn a day in March.

But revenues still exceeded the cost of the Ukraine war during the first 100 days - with the CREA estimating that Russia is spending around $876m per day on the invasion.

Monday's figures also showed that China imported 260,000 tonnes of Iranian crude oil last month, its third shipment of Iran oil since last December.

China has continued to buy Iranian oil despite US sanctions on Tehran."

Iran, Russia, Saudi Arabia powering China and India. The Holy Trinity.
 
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Russia moves to take control of Sakhalin-2 oil and gas project

The Russian government moves to take over Sakhalin-2 in which Shell has a share of more than a quarter.
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"Shell has been in talks with potential buyers for its stake in the project, including some from China and India, according to previous reports by The Daily Telegraph and Reuters."

How are those sanctions working?
 
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Ukraine war: Germany fears Russia gas cut may become permanent

Russian pipeline operators say maintenance work is needed, but Germany suspects political motives.
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"The Canadian government says it will now return a repaired Siemens turbine to Germany for the pipeline. That move angered the Ukrainian government, which accused Canada of adjusting the sanctions imposed on Moscow 'to the whims of Russia'"

I thought gas usage should drop to zero in the EU by the end of 2022 - except for Hungary, Czech and Slovakia.
 
www.nbcnews.com

U.S. inflation rises 9.1% in June, more than expected, as prices keep climbing

Compared to a year ago, the index in June rose half a percentage point, from the 8.6% year-on-year increase in May — staying at the fastest pace in 40 years.
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"Food prices increased 1% from May and 10.4% over the previous 12 months, while the cost of gasoline increased 11.2% from May and energy prices rose 60% over the past 12 months."

11 percent increase month to month. Good luck making a profit for those who rely on gasoline.
 
Fwiffo said:
Pipeline running at 30 percent again.

Canadian repairs were not blamed.
Click to expand...
Siemens did some maintenance in Germany on the compressor as well. After start-up they wouldn't run at full capacity straight away anyway. We'll see what happens.
 
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Kaliningrad row: Lithuania resumes transporting goods to Russian exclave

Russia threatened to respond after Lithuania announced a ban under EU sanctions last month.
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"The European Union last week said the transit ban only affected road, not rail, transit, and Lithuania should therefore allow Russia to ship concrete, wood and alcohol across EU territory to Kaliningrad."

The fine print was not read.
 
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Gas prices jump as Russia cuts German supply

The Nord Stream 1 pipeline is now operating at just a fifth of its usual capacity.
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"The predicted hefty increase in the energy price cap in the autumn may not be the last; analysts are warning that we could see prices remaining volatile for an extended period of time.

Our best hope may be for a mild winter."

Or for global warming to continue...
 
news.yahoo.com

Rents spike as big-pocketed investors buy mobile home parks

For as long as anyone can remember, rent increases rarely happened at Ridgeview Homes, a family-owned mobile home park in upstate New York. When that didn't happen and a new lease with a 6% increase was imposed this year, they formed an association. About half the residents launched a rent...
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Parasites coming for mobile homes next
 

Subscribe to read | Financial Times

News, analysis and comment from the Financial Times, the worldʼs leading global business publication
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"However, the EU has amended part of its own sanctions to permit European companies to deal with some Russian state-owned entities, such as Rosneft, for the purpose of transporting oil to countries outside the bloc. European companies will no longer be blocked from paying the likes of Rosneft, 'if those transactions are strictly necessary', for the purchase or transport of crude or petroleum products to third countries, a European Commission spokesperson told the FT."

Technically you can pay the Russian state company to ship it to a neutral country near the EU and import it back? What sanctions are these again?

"The EU announced a worldwide ban on the provision of maritime insurance to vessels carrying Russian oil two months ago, expecting co-ordinated action with the British government. However, the UK is yet to introduce similar restrictions. UK participation is pivotal to the effectiveness of any such ban because London is at the centre of the marine insurance industry.

But US officials have expressed concern that an immediate global ban on maritime insurance would push up prices by pulling millions of barrels of Russian crude and petroleum products off the market."

In other words, Lloyd's continues making money.
 
www.theguardian.com

The rouble is soaring and Putin is stronger than ever - our sanctions have backfired | Simon Jenkins

Energy prices are rocketing, inflation is soaring and millions are being starved of grain. Surely Johnson knew this would happen, says Guardian columnist Simon Jenkins
www.theguardian.com www.theguardian.com

"To criticise western sanctions is close to anathema. Defence analysts are dumb on the subject. Strategy thinktanks are silent. Britain’s putative leaders, Liz Truss and Rishi Sunak, compete in belligerent rhetoric, promising ever tougher sanctions without a word of purpose. Yet, hint at scepticism on the subject and you will be excoriated as 'pro-Putin' and anti-Ukraine. Sanctions are the war cry of the west’s crusade.

The reality of sanctions on Russia is that they invite retaliation. Putin is free to freeze Europe this winter. He has slashed supply from major pipelines such as Nord Stream 1 by up to 80%. World oil prices have surged and eastern Europe’s flow of wheat and other foodstuffs to Africa and Asia has been all but suspended.

Britain’s domestic gas bills face tripling inside a year. The chief beneficiary is none other than Russia, whose energy exports to Asia have soared, driving its balance of payments into unprecedented surplus. The rouble is one of the world’s strongest currencies this year, having strengthened since January by nearly 50%. Moscow’s overseas assets have been frozen and its oligarchs have relocated their yachts, but there is no sign that Putin cares. He has no electorate to worry him."
 
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