Posted on 11/23/2023 8:00:05 AM PST by SpeedyInTexas
Peak China.
$36 billion short...
“Embattled shadow banking giant Zhongzhi Enterprise Group Co. has revealed the depth of its financial difficulties, telling investors it is “severely insolvent” with a shortfall of $36.4 billion.
The privately owned wealth manager said liquidity has dried up and the recoverable amount from asset disposals is expected to be low, according to a letter sent to investors on Wednesday seen by Bloomberg News.
Zhongzhi first triggered concern in August after one of its trust-company affiliates failed to make payments to customers on high-yield investment products. The group’s financial difficulties add to President Xi Jinping’s challenges as officials grapple with a property crisis and a weak economy.”
Greek Shippers Halt Russian Crude Transports Amid U.S. Sanctions Push
(https://oilprice.com/Latest-Energy-News/World-News/Greek-Shippers-Halt-Russian-Crude-Transports-Amid-US-Sanctions-Push.html )
“Three major Greek shipping firms have halted transport of Russian crude in recent weeks due to the heightened risk of facing U.S. sanctions, Reuters has reported.
Greek shippers Minerva Marine, TMS Tankers and Thenamaris have stopped carrying Russian oil...
...The three firms have been among the most active shippers of Russian oil and fuels but have lately scaled down their involvement. The three companies operate more than 100 oil tankers with enough capacity to handle almost all the oil exports from Russia’s European ports of roughly 10 million tonnes a month or 2.4 million barrels per day.
“The dark fleet might not be enough to transport all of Russian oil,” a trader involved in Russian oil shipping has told Reuters. ‘‘Dark fleet” refers to the emergence of shippers that move oil from Russia and Iran, but are not covered by Western insurance...
...Greece emerged as a new hub for Russian oil via ship-to-ship (STS) loadings after the U.S. and Europe slapped heavy sanctions on Russian crude... However, Greek shippers started cutting their volumes of Russian crude after the price of Urals surpassed the US$60/bbl price cap for the first time in July.
According to Argus Media, Greek tanker operators cut volumes of Russian crude by 482,000 bbls in July, with Russian crude falling to 35% of all cargoes compared to 45% in the previous months. With Russian crude now more costly, Chinese buyers have increasingly been turning to other markets which further disincentivizes Greek operators from remaining in the Russian trade due to the complications of remaining sanctions-compliant.”
Iran providing glide bombs, and they can be released from some drones (or Su-25s).
ISW reports (22 Nov):
“US National Security Council Spokesperson John Kirby reported on November 21 that Iran is supplying Russia with glide bombs and that Iran may be preparing to transfer short-range ballistic missiles to Russia.
ISW has observed Russian forces increasingly using glide bombs, particularly modified FAB-500, KAB-500, and RPK-500 aerial bombs equipped with glide bomb structures, in the Lyman and Kherson directions. It is unclear whether Kirby meant that Iran is supplying Russia with glide bomb components or with fully constructed glide bombs.
The Critical Threats Project (CTP)-ISW’s Iran Update reported on August 14 that Iran produces a variety of glide bombs domestically, such as the Ghaem glide bombs, Yasin long-range glide bombs, Sadid glide bombs, and Balaban glide bombs.
Iran commonly uses these bombs with its various drone platforms, likely including the Shahed-131/136 drones that Iran supplies to Russia. A Russian milblogger previously amplified claims that Russian Su-25 aircraft may be compatible with Iranian glide bombs.
Iran presented several glide bomb variants at the Russian Army-2023 Forum in Moscow in August 2023 and possibly during Russian Defense Minister Sergei Shoigu’s visit to Tehran in September 2023. Kirby added that Iran also continues to supply Russia with drones and artillery ammunition.
Ukrainian Main Military Intelligence Directorate (GUR) Deputy Chief Major General Vadym Skibitskyi stated on November 6 that Iran may continue to send small batches of Shahed-131/136 drones to Russia despite increased Russian efforts to produce Shahed drones domestically and Iran’s fulfillment of its first Shahed supply contracts with Russia.
CTP-ISW previously assessed that Iran and Russia may conclude a drone and missile sale agreement following the expiration of UN missile restrictions against Iranian missile and missile-related technology exports on October 18, 2023.”
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