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>>>"Russia is doing the cutoff. They are cutting off their own revenue." <<<

Today, Europe is buying Russian NG via China at 10X the price. After being NG piped to China, it has to be converted to LNG, and shipped (on ships, in liquid form), at massive cost all the way back to Europe.

It would cost 1/10th the price to Europe if it was coming via the old direct Russia to Europe NG pipelines. But the "leaders" of Europe would rather their people literally freeze to death, and half of their businesses go out of business, than to grasp reality. IOW, at this point, it's pure vanity and face-saving. At the cost of their own peoples' lives.

Currency exchange rates don't lie, can't be spun. They are literally what traders will "buy" foreign currencies for, using their own money.

Do you understand these charts?

“ Currency exchange rates don’t lie, can’t be spun.”

How about the exchange rates of the Cuban Peso, and the North Korean Won?

They are most certainly spun. They are fixed by Government regulation.

The ruble is no longer a freely traded currency. The Russian Government now forces businesses to buy rubles, and legally forbids broad classes of individuals, businesses and organizations from selling rubles.

They can manipulate that official exchange rate to whatever number they want. It does not reflect any real economic strength.

A third of all the rubles in existence were created in the last six months. Next year is sure to see steep inflation in the ruble price for goods, just based on that explosive expansion of their money supply. But there is no reason to believe that they will halt those printing presses any time soon. In fact, their printing, and the pressures for them to print, have been accelerating.

“Today, Europe is buying Russian NG via China at 10X the price”

Chinese imports of Russian gas have only increased a few percent of the decline in volumes to Europe.

Europe has reduced their use of natural gas (through conservation, lowered demand and fuel substitution), more than China’s total increase. Out of Europe’s increased imports of natural gas, most is coming from Norway, the USA, Qatar, Algeria and the Netherlands. Azerbaijan has increased their volume to Europe more than China.

Smuggling is small potatoes, and China is the one getting the markup, not Russia.

Russia is deeply Strategically screwed. They have driven off the bulk of their natural gas customers, and can not physically move most of that surplus product to other customers. For now, it is just burning off into the atmosphere, but eventually they will have to cap those wells.

Travis McIvan on 3rd September 2022
https://freerepublic.com/focus/chat/4090520/posts?page=106#106

“s. But the “leaders” of Europe would rather their people literally freeze to death, and half of their businesses go out of business, than to grasp reality. IOW, at this point, it’s pure vanity and face-saving. At the cost of their own peoples’ lives”

Nope, Ivan - what’s the change in propaganda since the trip to Moscow? Talking about bioweapons labs again? Jewish Nazis? Zombie drug-fueled cyborgs?