Sanctions on Russia

Latest update: 877 Russian oligarchs and politicians are now on the European Union sanctions list.

It's officially underway...
But they're saying it won't be easy to track down all those bank accounts, villas, yachts, and private jets. A whole army of lawyers and experts specializing in hiding tracks and names handled the transactions...

They estimate we're looking at tens of billions of euros...

Still, the authorities are working hard to identify all the assets (bank accounts, villas, yachts, private jets...) held by the 877 businessmen and politicians targeted by the European Union sanctions

hollowdriver13 said:https://www.neste.com/investors/mark...ice-difference

They’re still out there trying to dump their oil at a massive discount, like $30 cheaper than Brent. Pretty desperate if you ask me.

"The world's second-largest crude oil exporter could be forced to limit output by 3 million barrels per day in April, the International Energy Agency warned on Wednesday , as major oil companies , trading houses and shipping companies shun its exports and demand in Russia slumps. Russia was pumping about 10 million barrels of crude per day"

And honestly, that explains why production might tank from 10 million down to 3 million barrels a day—they just don't have anyone left to sell it to.

https://www.hellenicshippingnews.com...eam-1-decline/

Gas deliveries are also dropping off now that the winter chill is fading, plus several European Union nations are already saying they won't be renewing their contracts with ExxonMobil once the current ones run out.

https://www.reuters.com/business/ene...ce-2022-03-18/

On the flip side, you’ve got various producers announcing they’re ramping up gas and oil production at their own sites.

So yeah, things aren't exactly "business as usual" for the guys over in Russia. People are still buying some stuff because, let's face it, you can't just flip a switch and walk away overnight, but their golden era of exporting fossil fuels to Europe is definitely over.

And we shouldn't forget that overhead stays pretty much the same. Naturally, if production drops, transport costs go down too, but on the flip side, as customers get further and further away, the cost of shipping those specific volumes starts climbing.
Plus, operating costs are always more or less fixed regardless of what the market price for oil actually hits.

Mark Carter14 says:
I can't believe I'm reading this in the morning news 🤣

Warnings like these haven't been making it into the mainstream media until now... it feels like the wind is shifting lately.
Here is a fact many people seem to overlook: you aren't going to isolate Russia when you have two massive nations with 2.8 billion people combined standing in the way.
This is a very realistic scenario.[/I]

Who is stopping them from just trading amongst themselves? Honestly, they should just move all their trade internally and start slapping sanctions on Western countries instead.
Largest trading partners with India
1 United States
2 China
3 United Arab Emirates
7 Hong Kong
4 Saudi Arabia
6 Germany
9 South Korea
8 Indonesia
5 Switzerland
10 Malaysia
11 Singapore
12 Nigeria
13 Belgium
14 Qatar
15 Japan
16 Iraq
17 Kuwait
18 United Kingdom
19 Iran
20 Australia
21 Venezuela
22 South Africa

https://en.wikipedia.org/wiki/List_of_the_largest_trading_partners_of_India

Where exactly does Russia show up on this list?

Following the meeting of the EU foreign ministers, Josep Borrell just announced a fresh round of sanctions

The European Union is ready to roll out more sanctions against Russia, says Josep Borrell
19:41

One sanction after another, all the way to the end...

Jerry Clark72 said:Fertilizer prices are up because the Russians started choking off the gas supply back in the fall, and you need gas to make fertilizer.

Now that fertilizer prices have spiked, grain prices follow suit, and eventually, we're going to see meat and dairy prices skyrocket too.

I see this as a massive hit to the average person's wallet. Especially here in the States, where food takes up such a huge chunk of the monthly budget.

The post I’m responding to tracks the spike in fertilizer costs over the last 4 years

The Dollar won't survive a default 🍿

slyfox43 said:Look, you have a whole crowd of people who spent their time waving flags over endless paragraphs claiming this manufactured crisis was a myth, insisting that Russia is "reliably delivering" and isn't using energy as a strategic weapon.

At the exact same time, they were celebrating how effectively Russia had "played" Europe. It’s classic Putinist doublethink.

Some people are still stuck in that mindset today.

There’s a chart showing gas imports from Russia over the last three years—pretty sure I saw it on Bloomberg—that’s been circulating all over econ-Twitter. It shows imports being cut in half back in 2021, well before any new sanctions were ever slapped on. It was clearly preparation for what hit in February.

Whatever. We'll just keep paying Russia through this winter, fill up the storage, and then we can almost make it through 2022/23 without Russian gasif it comes to that.

Sam Alvarez4 said:Following the meeting of the EU foreign ministers, Josep Borrell just announced a fresh round of sanctions

The European Union is ready to roll out more sanctions against Russia, says Josep Borrell
19:41

One sanction after another, all the way to the end...

But wait, the American media is spinning a totally different story:

"Formally adopting these sanctions requires a specific process, and I don't think we'll see a formal adoption this week," Josep Borrell stated.
Some member states, specifically Canada, are treating energy supply sanctions as a massive red line. The Canadian Foreign Minister actually told his European colleagues to stop even suggesting proposals to limit or cut off energy supplies from Russia because "such a decision wouldn't lead to a unified Europe."

The fighting has officially started.

It isn't that the fighting has started; rather, we are finally seeing individual government leaders emerge from being mere puppets for their bosses at The White House.

Canada keeps pushing back against every single proposal—everything from aid for Ukraine to any kind of sanctions on oil and gas.

Then again, maybe it doesn't even matter—sanctions don't necessarily need to be at the European Union level to work...

George Robinson43 said:It isn't that the fighting has started; rather, we are finally seeing individual government leaders emerge from being mere puppets for their bosses at The White House.

It’s all coming to light now. Canada and Germany aren't exactly surprises here; there wasn't much to uncover since everyone already knew what was up. But this? This is just the tip of the iceberg. It's going to be wild seeing how the other shady players react—looking at you, Austria.
Definitely not looking good for anyone.

Gerald Chavez7 said:There’s a chart showing gas imports from Russia over the last three years—pretty sure I saw it on Bloomberg—that’s been circulating all over econ-Twitter. It shows imports being cut in half back in 2021, well before any new sanctions were ever slapped on. It was clearly preparation for what hit in February.

Whatever. We'll just keep paying Russia through this winter, fill up the storage, and then we can almost make it through 2022/23 without Russian gasif it comes to that.

It’s also common knowledge that while ExxonMobil-like storage facilities were sitting empty, others remained at standard levels. Those assets should be seized from them—with compensation, of course—because we simply cannot allow strategic energy reserves to be held by foreign powers, especially not those.

So, I’ve been seeing some chatter about Congress potentially looking into banning the US government from doing business with any companies that refuse to pull their operations out of Russia. I say "potentially" because, honestly, right now I'm mostly just seeing a handful of people talking about this on Twitter

Edit: Okay, scratch that—looks like this is actually legitimate news
https://oversight.house.gov/news/pre...overnment-from

Gerald Chavez7 said:Canada keeps pushing back against every single proposal—everything from aid for Ukraine to any kind of sanctions on oil and gas.

Then again, maybe it doesn't even matter—sanctions don't necessarily need to be at the European Union level to work...

Back in November, the Canadians inked a 15-year deal with ExxonMobil, supposedly on incredibly favorable terms. Now, they’re doing whatever it takes to ensure that deal stays intact.

Carl Lee27 said:So, I’ve been seeing some chatter about Congress potentially looking into banning the US government from doing business with any companies that refuse to pull their operations out of Russia. I say "potentially" because, honestly, right now I'm mostly just seeing a handful of people talking about this on Twitter

Edit: Okay, scratch that—looks like this is actually legitimate news
https://oversight.house.gov/news/pre...overnment-from

Man, I’d love to see how that plays out for just one day. The US government vs. Nestlé. 🤣

Terry Barnes9 said:But wait, the American media is spinning a totally different story:

"Formally adopting these sanctions requires a specific process, and I don't think we'll see a formal adoption this week," Josep Borrell stated.
Some member states, specifically Canada, are treating energy supply sanctions as a massive red line. The Canadian Foreign Minister actually told his European colleagues to stop even suggesting proposals to limit or cut off energy supplies from Russia because "such a decision wouldn't lead to a unified Europe."

The fighting has officially started.

American news outlets aren't even writing their own stories; they're just running Google Translate copies.
Not reading it, honestly not worth the time.

Regarding those announced sanctions—what's actually happening and how—we should hopefully know more by the end of this week.
It’s complicated. But there are talks, and options are being weighed...

Take Sánchez, for instance; he just toured major EU capitals plus Brussels to push for a project that would seriously help cut down on reliance on Russian gas, especially for Germany.

What’s happening in Ukraine is a tragedy in every sense of the word.
But if anything good has come from this tragedy, it’s the awakening of Europe and the sudden serious discussions about investing in projects that nobody even wanted to hear about a few months ago...

Russian tank plant reportedly shut down, according to Ukrainian intel

So, apparently Ukrainian military intelligence is saying that this factory out in the Chelyabinsk region—the one responsible for building and fixing up Russian tanks—has basically ground to a halt because they can't get their hands on imported parts anymore.

I guess we'll see who actually has the guts to tell Putin 😁

Carl Lee27 said:So, I’ve been seeing some chatter about Congress potentially looking into banning the US government from doing business with any companies that refuse to pull their operations out of Russia. I say "potentially" because, honestly, right now I'm mostly just seeing a handful of people talking about this on Twitter

Edit: Okay, scratch that—looks like this is actually legitimate news
https://oversight.house.gov/news/pre...overnment-from

This would put Nestlé in a super tough spot, but it’s also a direct threat to China.

Medvedev lashes out at Poland: ‘It’s hard to imagine rhetoric more deceitful or disgusting. It’s just a community of idiots.’

His insults came immediately after White House spokesperson Jen Psaki announced that Biden would be visiting Poland later this week.

They are absolutely fuming in Moscow; they clearly can't contain their rage anymore. Honestly, isn't this just living proof of how much those sanctions are actually hurting?

lp

Richard Wilson4 said:This would put Nestlé in a super tough spot, but it’s also a direct threat to China.

Well, they've already started blocking visas for certain Chinese officials over issues like the Uyghurs and Tibet... and you can bet the Chinese government isn't forgetting any of this; they're definitely keeping a mental file on everyone involved. 🤣

Bryan Booth82 said:Medvedev lashes out at Poland: ‘It’s hard to imagine rhetoric more deceitful or disgusting. It’s just a community of idiots.’

His insults came immediately after White House spokesperson Jen Psaki announced that Biden would be visiting Poland later this week.

They are absolutely fuming in Moscow; they clearly can't contain their rage anymore. Honestly, isn't this just living proof of how much those sanctions are actually hurting?

lp

The rage is coming from the threat of total sanctions—cutting off all gas and oil purchases.

Even if some EU members push back, this could actually go through by spring. It would grind the war machine to a halt, though it'd definitely take a hit to the global economy too. (Maybe some pressure from China?)

I reckon Biden's visit is going to say a lot.