Posted on 05/22/2022 10:02:08 AM PDT by hardspunned
MOSCOW, May 21. /TASS/. Russian energy giant Gazprom confirms its full-stop to natural gas deliveries to Finland after Finnish company Gasum failed to pay in rubles for the previous supplies, Russia’s company said in a statement on Saturday.
"Gazprom has cut off its gas supplies to Gasum (Finland) due to a failure of the latter to pay for the gas deliveries in rubles," the statement reads. "As of the end of the work day on May 20, Gazprom Export did not receive a payment from Gasum for gas deliveries in April in line with the [Russian] presidential order…"
The Russian company also stated that it delivered 1.49 billion cubic meters of natural gas to Finland in 2021, which amounted up to 67% of the total volume of the supplied natural gas to this country last year.
(Excerpt) Read more at tass.com ...
US and EU governments have frozen Russian Dollar and Euro assets, and have forbidden Russia from trading in those currencies.
But they still expect Russia to accept Dollar and Euro payment for gas.
These Western politicians are living in a fantasy-land.
In case of Germany they wanted Gazprom to accept Euro payments on the account of its German subsidiary that was just nationalized by Germany. How queer is that?:)
Finland gets about 5% of its energy needs from Russia and anticipated this chintzy move by Putin. They already have more than sufficient supply from Sweden in place. It’s a serious country, not a crooked clown show like Ukraine.
Things were better when Trump was President and European nations were buying all the energy they wanted from Russia at rock-bottom prices.
In 2020 Russia was the world’s largest exporter of wheat, iron and nickel.
For those of you in Rio Linda … iron and nickel are the two major components of steel.
Fox News reported that a full, steady supply of gas won’t be replaced until October or November. And that’s if there are no glitches.
So how long is Russia supposed to deliver their gas for free?
Not to worry. The world doesn’t need Russian energy. It’s just like cutting off Bakken oil. Maybe God will just miracle us up the difference.
Russia’s wheat exports total about $4 billion in revenue per year. Not gonna prop up the Russian economy to make up the oil and gas shortfall with those kinds of numbers. Iron is not a rare commodity so Russia’s behavior hurts it’s iron exports with little to no impact on the rest of the world. FWIW, have a bit of a background in materials and can cite the alloy formulations for most of useful grades of steel from memory, but thanks for the metallurgy lesson just the same :-)
There is a fundamental rule of life that never really enters economic textbooks focused on capitalism.
That rule is scarcity destroys economics.
When there is not enough of something, capitalism imagines the effect is price rises.
No, that’s not what happens in a world of scarcity. What happens is orders don’t get filled. A non existent can of beans on a shelf doesn’t have a price. It’s not double or triple what it was. It doesn’t have a price.
When there’s not enough oil or not enough gas, the price is not the primary impact. The primary impact is orders don’t get filled. And because oil is civilization’s lifeblood, someone doesn’t just go home without a can of beans. They go home dead.
+1
I'll bet you were foursquare behind the Covid renter deadbeats who refused to pay their landlords during the plandemic.
A deadbeat is a deadbeat.
Finland stands ready and able to pay the bill. If you were any dumber, you’d need to be watered.
Russia loses, Finland loses, you lose, I lose. What’s the point? If you look at oil, the loss in net revenues to Russia since the sanctions is less than the net additional amount the American consumer has paid in sanctions induced gas price increases. All for Western crony oligarchism.
Here's an example:
The export market for Russian Urals heavy crude will remain intact.
The Euroweenies will just disguise the provenance of the oil, rake in the vigorish as middlemen and will be able to punish landlocked European Union nations that get out of line, like Hungary.
Same oil, higher price to businesses and consumers.
It will be entertaining to see how they disguise the piped Russian natgas.
“What can be shut down can just as easily be re opened. And it’s happening. Russia has one major export commodity - oil and gas. Not even the feckless and reckless European pols are stupid and corrupt enough to keep their dependence on Russia going.”
You may want to check into the restarting of the German Nuclear Plants (the ones that haven’t been demolished yet) before getting too optimistic. Germany had 18 plants and did not need ANY gas from Russia - 3 remain, and will be shutdown this year...and only an act of God will stop that.
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