Posted on 05/01/2022 2:18:03 AM PDT by Its All Over Except ...
https://www.foxbusiness.com/markets/european-union-russian-oil-embargo
European Union likely to approve Russian oil embargo next week: report
Embargo expected to be announced in new sanctions package against Moscow
European Union countries next week are likely to approve a phased embargo on Russian oil, dealing a significant economic blow to Moscow over its invasion of Ukraine, The New York Times is reporting.
The Wall Street Journal earlier reported that a full ban on Russian oil was possible after Germany changed its stance this week.
The reversal from Germany, which had been one of the main opponents of the EU severing oil and gas trade with Russia, comes after Berlin struck a deal with Poland to import oil by way of one of its Baltic Sea ports, according to that report.
https://www.foxbusiness.com/economy/yellen-european-ban-russian-oil-price-increase
JANET YELLEN Published April 21
Yellen urges caution on Russian oil ban in EU, warns it could increase prices
Yellen: ‘We need to be careful about’ complete EU ban on Russian oil
Speaking to reporters following a meeting with Ukrainian Prime Minister Denys Shmyhal and Finance Minister Sergii Marchenko in Washington, Yellen cautioned that an all-out embargo on Russian energy could ultimately cause more harm than good.
“Europe clearly needs to reduce its dependence on Russia with respect to energy, but we need to be careful when we think about a complete European ban on, say, oil imports,” Yellen said.
The U.S. also ordered a ban on Russian oil imports – something that Yellen acknowledged will push energy prices higher.
Should the EU move forward with its plans to reject Russian energy imports, European countries would almost certainly face much steeper prices for oil, coal and gas, Yellen argued. Although Russia would no longer sell such large volumes of crude to Europe, it could also find other customers in friendly or neutral countries that are willing to pay more for less.
“That would clearly raise global oil prices, it would have a damaging impact on Europe and on other parts of the world, and, counterintuitively, it could actually have very little negative impact on Russia, because although Russia might export less, the price it gets for its exports would go up,” Yellen said.
Buckle up, looks like we are about to see another round of energy price increases.
Chinese curse: May you live in interesting times...:-(
So why is that relevant for infrastructure that has to be built in Russia or elsewhere?
As I’m filling up and watching the numbers spin, I always wonder how me paying double the price is sticking to the Russians.
I stopped watering my grass. I’m stuck with all the extra water, but I do believe it’s worse on the grass side.
“As I’m filling up and watching the numbers spin, I always wonder how me paying double the price is sticking to the Russians”
It is surprising how well the Russians are doing in the “Financial War” the West is waging. Things certainly are not turning out the way our leaders expected.
https://www.youtube.com/watch?v=peJpZVI_7DY
China and Russia will work together
Polish PM to Polish towns: you don’t need Russian gas.
Some Polish towns: do we look like dog meat to you?
US Government to American citizens......
China’s economy (especially construction) is cratering. They might know how to build…but they are building empty buildings in places where there is no one to use them.
China isn’t going to rescue Russia.
I don’t know about that. Pipelines are just the projects to rescuing a faltering economy like railroads in US history
...the rapid construction know how we once had.
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I remember the rhetoric against the Alaskan Pipeline. “Decades” and “Years & years”, so why bother.
Every able-bodied working man high-tailed it to Alaska (’cause no jobs/poor pay in the Lower 48) and the pipeline took 18 (IIRC) months.
Me too!
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