Posted on 02/28/2022 12:20:41 PM PST by simpson96
Call this one the Mother Of All Signals, if true. China’s financial entities have cut off credit for Russian energy sales, Bloomberg reports, following an avalanche of Western sanctions over Vladimir Putin’s invasion of Ukraine:
Singapore’s biggest banks are restricting trade financing for Russian raw materials, as the war in Ukraine spurs lenders in Asia’s largest energy and commodities trading hub to reduce exposure to the sanction-hit country. …
DBS Group Holdings Ltd., Oversea-Chinese Banking Corp. and United Overseas Bank Ltd. have stopped issuing letters of credit involving Russian energy deals because of uncertainty over the course of sanctions, according to the people, who asked not to be identified as the information isn’t public.
A choke on trade financing in a top commodities hub such as Singapore could snarl the trade of some physical cargoes and add further pressure to prices, even though the U.S. and European Union sought to exclude energy from the latest round of new sanctions.
It’s not just Singapore, but China itself. Singapore is apparently responding to that signal:
Lenders in the city-state, a key trading hub for commodities trade and finance in Asia, join at least two of China’s largest state-owned banks and some banks in Europe in restricting the ability to purchase Russian commodities.
(Excerpt) Read more at hotair.com ...
The WEF tentacles stretch far and wide.
Is the Chinese relief column, to liberate the oppressed Chinese minority/majority in parts of Siberia approaching their line of departure yet?
“Uh, Singapore is not China.”
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Most people figure “Singapore” sounds like a Chinese word, so no difference. Plus they got that same eye thing going on, too - you can’t tell me it’s not the same thing!
https://www.zerohedge.com/markets/stocks-tied-chinas-swift-alternative-are-soaring
Stocks Tied To China’s SWIFT Alternative Are Soaring
Therefore China has other ways of trading with Russia. They could become the gatekeeper for Russian trading.
Also in a related note fertilizer production may be gravely impacted:
Russia is #4 in nitrogen and phosphate based fertilizer:
https://www.nationmaster.com/nmx/ranking/nitrogen-fertilizer-production
https://www.nationmaster.com/nmx/ranking/phosphate-fertilizer-production
Russia is #1 producer of NPK and urea based fertilizer:
https://www.nationmaster.com/nmx/ranking/urea-fertilizer-production
https://www.nationmaster.com/nmx/ranking/npk-fertilizer-production
So by blocking the ability to pay for Russian goods, you not only have oil and natural gas shortages (which means shortages of all sorts of industrial chemicals used in medicine, plastics, etc.) but you also have shortages of food as we will knock out a huge supplier of the world’s fertilizer.
Without food, that means fewer people. Maybe that is the intention.
“Oh well I guess the cockroaches win in the end.”
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Meh, they pretty much already own the blue cities anyway. Well, along with the rats, of course.
“but any report that contains that caveat is not worth one’s time.”
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We live in a time where actual so-called news reportage carries the “if true” disclaimer.
It’s like “Ripley’s Believe It Or Not” - Ripley never claimed that everything the printed was true; it was “make of it what you will”.
“ China pull away from the notion of invading Taiwan.”
China is learning on the cheap the consequences of invading another country in the modern era. And that is without the US getting involved. The PLA has a bunch of high tech gizmos or so they say, but their foot soldiers are even worse trained and experienced than the Russians. First will come the military consequences. After that the economic boycott which for an economy like China’s will be far worse. Its effect will be felt in China for decades. China has realized there is nothing to be gained from partnering with Russia so they are backing away.
This is what they say, let’s see what the do.
Tbey played Putin to create an international distraction and upset markets, especially oil. They know it’ll hit us in the wallet, and hard.
This is all about empowering China. That’s why China has been so silent.
Nice, If China cooperates, then the $600B in reserves that Russia built up as a war chest are useless. They can’t spend them.
This would be huge if it is really true. Russia was counting on China to buy their oil if the West imposed energy sanctions. But, then again, there is a lot China promises and never does.
Can’t process payments through SWIFT, LOCs, Rubles etc, things can get tough for the country that needs oil revenue.
Xi, what are you thinking? Wheat and corn aren’t enough.
5.56mm
“Don’t worry... tell Vlad after I’m re-elected” Barry begat Xiden, who decides Russia and Vlad are bad sushi but...
Continues to purchase 600k bbls perday because he es estupido. Where’s congress on all this aiding and abetting going down?
IMO, this is China moving further away from the petro dollar and forcing others towards the Petro Yuan
My first inclination was that the NWO, Russia, and China are coordinated on this. The faux outrage and prophetic Joe Biden predictions to too much…
Yes, China only respect strength, if they back away from Putin and Russia, it’s because they see the writing on the wall. They have no intentions of going down with Russia.
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