Why G7 Price Capping Won't Harm Russia, But Will Accelerate Inflation & Recession in the West
💬 "The Western price cap on Russian oil exports is neither viable nor enforceable," Dr. Mamdouh G. Salameh, an international oil economist and global energy expert, told Sputnik. "Therefore, it is doomed to fail miserably. Russia, the global oil market and OPEC+ will reject it."
Possible supply disruptions from OPEC producers or OPEC+'s decision to slash their collective output could exacerbate the uncertainty engulfing the world's energy markets. OPEC+ members are interested in $100 or higher for Brent crude: with the exception of Russia, they need the increase in oil costs to balance their budgets, according to Salameh. He forecast that the cartel will assess the market reaction to the price cap and then take action.
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💬 "The Western price cap on Russian oil exports is neither viable nor enforceable," Dr. Mamdouh G. Salameh, an international oil economist and global energy expert, told Sputnik. "Therefore, it is doomed to fail miserably. Russia, the global oil market and OPEC+ will reject it."
Possible supply disruptions from OPEC producers or OPEC+'s decision to slash their collective output could exacerbate the uncertainty engulfing the world's energy markets. OPEC+ members are interested in $100 or higher for Brent crude: with the exception of Russia, they need the increase in oil costs to balance their budgets, according to Salameh. He forecast that the cartel will assess the market reaction to the price cap and then take action.
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‼️Explosions heard in Nikopol & Dnepropetrovsk region - media
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From 'Banana Wars' to Steel Tariffs, Trade Spats That Have Marred US-EU Trade
Washington’s new legislation, the $430 billion Inflation Reduction Act, signed recently by President Joe Biden, has set the EU and the US headed towards the brink of what has been dubbed a major transatlantic trade dispute.
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Washington’s new legislation, the $430 billion Inflation Reduction Act, signed recently by President Joe Biden, has set the EU and the US headed towards the brink of what has been dubbed a major transatlantic trade dispute.
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📹 The Russian Defense Ministry has published footage showing Osa-AKM anti-aircraft missile system in action
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Sputnik International
⚡️ Ukraine launched drone attacks on Russian military airfields, UAVs brought down by air defenses - MoD "On the morning of December 5, using Soviet-made jet-powered unmanned aerial vehicles, the Kiev regime attempted to attack the Dyagilevo and Engels military…
An oil storage tank caught fire near the Kursk airport in central Russia as a result of a drone attack and the fire is now under control, the governor said. There are no casualties.
Yesterday Ukrainian forces attacked "Dyagilevo and Engels military airfields in the Ryazan and Saratov regions in an attempt to disable Russian long-range aviation," using Soviet jet drones, the Russian Defense Ministry said. Three military personnel were killed during the attack, and four were injured
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Yesterday Ukrainian forces attacked "Dyagilevo and Engels military airfields in the Ryazan and Saratov regions in an attempt to disable Russian long-range aviation," using Soviet jet drones, the Russian Defense Ministry said. Three military personnel were killed during the attack, and four were injured
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White House: 'Twitter Files' Release Showing How Hunter Biden Story Was Censored ‘Not Healthy’
White House spokeswoman Karine Jean-Pierre said the revelations suggesting high-level collusion between Twitter officials and the Biden administration are "unhealthy".
🗣 “What is happening [on Twitter is] frankly… not healthy,” Jean-Pierre claimed. “It won’t do anything to help a single American improve their lives.”
Last week, leaked emails from Twitter employees revealed that the social media giant coordinated with US intelligence agencies to claim falsely that files extracted from Hunter Biden's laptop were the product of a Russian disinformation campaign
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White House spokeswoman Karine Jean-Pierre said the revelations suggesting high-level collusion between Twitter officials and the Biden administration are "unhealthy".
🗣 “What is happening [on Twitter is] frankly… not healthy,” Jean-Pierre claimed. “It won’t do anything to help a single American improve their lives.”
Last week, leaked emails from Twitter employees revealed that the social media giant coordinated with US intelligence agencies to claim falsely that files extracted from Hunter Biden's laptop were the product of a Russian disinformation campaign
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Sputnik International
❗️An earthquake has shaken Indonesia’s main island of Java. It is reported that at least 46 people have been killed and dozens of buildings have been damaged. Video showing the aftermath of the earthquake has emerged on social media. Subscribe to @SputnikInt
⚡️Magnitude 6.2 earthquake shakes the coast of the Indonesian island of Java, the European-Mediterranean Seismological Center said. There has been no information about any possible casualties and the threat of a tsunami was not announced.
Last month, an earthquake of magnitude 5.6 struck West Java, killing 331 people, injuring thousands and leaving tens of thousands homeless after buildings collapsed and landslides occurred
Last month, an earthquake of magnitude 5.6 struck West Java, killing 331 people, injuring thousands and leaving tens of thousands homeless after buildings collapsed and landslides occurred
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US Anti-China Chip Ban Worsens Shortages, Inflation in Bid for 'Sovereign Capability'
In October, the Biden administration tightened controls on semiconductor technology exports to China to limit Beijing's ability to produce certain high-performance microchips used for military purposes.
However, some American companies have already complained about the possible negative consequences of restrictions, such as higher costs and supply chain problems. US-based company KLA Corp, which supplies testing and measuring equipment to the semiconductor industry, forecasts losses of between $600Mln and $900Mln in 2023, given that China was its largest source of revenue
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In October, the Biden administration tightened controls on semiconductor technology exports to China to limit Beijing's ability to produce certain high-performance microchips used for military purposes.
However, some American companies have already complained about the possible negative consequences of restrictions, such as higher costs and supply chain problems. US-based company KLA Corp, which supplies testing and measuring equipment to the semiconductor industry, forecasts losses of between $600Mln and $900Mln in 2023, given that China was its largest source of revenue
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Pyongyang Says Opened Artillery Fire in Response to South Korean Shelling at Contact Line
North Korea opened artillery fire in response to areas near the contact line being shelled by South Korea, the General Staff of the Korean People's Army reports.
"The General Staff of the Korean People's Army gave the alarm of combat readiness for emergency, and an urgent instruction to strengthen the watch of the enemy situation to units at all levels including the front artillery units of the People's Army. It also gave an order to the front artillery units to fire warning shots into the sea," the staff said in a statement, quoted by the Korean Central News Agency (KCNA).
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North Korea opened artillery fire in response to areas near the contact line being shelled by South Korea, the General Staff of the Korean People's Army reports.
"The General Staff of the Korean People's Army gave the alarm of combat readiness for emergency, and an urgent instruction to strengthen the watch of the enemy situation to units at all levels including the front artillery units of the People's Army. It also gave an order to the front artillery units to fire warning shots into the sea," the staff said in a statement, quoted by the Korean Central News Agency (KCNA).
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Forwarded from Sputnik News India
‼️ At least 8 people were reportedly killed and 9 more injured in a terrorist attack in Afghanistan
According to local media reports, a bomb detonated inside a bus carrying Hairatan Oil company workers in Balkh province
According to local media reports, a bomb detonated inside a bus carrying Hairatan Oil company workers in Balkh province
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Forwarded from Sputnik Africa
🇪🇹🇷🇺 The Eighth meeting of the Intergovernmental Russian-Ethiopian Commission on economic, scientific, technical and trade cooperation opened in Addis Ababa, Ethiopia on Tuesday
The parties are expected to discuss projects of mutual interest in the field of trade, geology, energy, science and higher education, agriculture, as well as cultural cooperation and tourism.
The event is expected to be held until 8 December.
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The parties are expected to discuss projects of mutual interest in the field of trade, geology, energy, science and higher education, agriculture, as well as cultural cooperation and tourism.
The event is expected to be held until 8 December.
Subscribe to @sputnik_africa
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⚡️Russian oil has been and will be in demand, logistics chains will change, but there is no tragedy in this, Russian Deputy PM Novak says
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Sputnik International
⚡️Russian oil has been and will be in demand, logistics chains will change, but there is no tragedy in this, Russian Deputy PM Novak says
⚡️Russian Deputy PM Novak:
▪️The price ceiling on Russian oil will lead to an increase in world prices
▪️Russia, amid an uncertain situation, may reduce oil production
▪️The price ceiling on Russian oil will lead to an increase in world prices
▪️Russia, amid an uncertain situation, may reduce oil production
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⚡️Ukrainian Forces Strike Donetsk With 10 Grad Rockets
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❗️Latest statements of Russia's Deputy Foreign Minister Sergei Ryabkov:
▪️Talks between CIA boss Bill Burns and his Russian counterpart Sergey Naryshkin are ended, Moscow will not comment on the possibility of a new meeting;
▪️The United States is "biting the hand that feeds it" by introducing a cap on oil prices;
▪️After the introduction of the oil price cap, the fragmentation of the global market will become a reality;
▪️If US saturates discussion about the restoration of JCPOA with inessential issues, then it will not be easy to resume the deal;
▪️Iran is ready to complete negotiations on JCPOA restoration quickly, there are no insoluble problems or any impasse;
▪️The dates of International Atomic Energy Authority head Rafael Grossi to visit Russia in 2022 can be agreed upon if it can be confirmed that Moscow’s requirements for the Zaporozhye Nuclear Power Plant have been taken into account.
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▪️Talks between CIA boss Bill Burns and his Russian counterpart Sergey Naryshkin are ended, Moscow will not comment on the possibility of a new meeting;
▪️The United States is "biting the hand that feeds it" by introducing a cap on oil prices;
▪️After the introduction of the oil price cap, the fragmentation of the global market will become a reality;
▪️If US saturates discussion about the restoration of JCPOA with inessential issues, then it will not be easy to resume the deal;
▪️Iran is ready to complete negotiations on JCPOA restoration quickly, there are no insoluble problems or any impasse;
▪️The dates of International Atomic Energy Authority head Rafael Grossi to visit Russia in 2022 can be agreed upon if it can be confirmed that Moscow’s requirements for the Zaporozhye Nuclear Power Plant have been taken into account.
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Czech Museum to Return Beethoven Manunoscript to Family That Fled Nazis During Holocaust
The Moravian Museum is to return the manunoscript of a late Beethoven quartet to its previous owners after having kept the treasure for more than 80 years. Оnce the richest family of pre-war Czechoslovakia, the Petschek family was forced to flee the Holocaust. They tried to protect the manunoscript by sending it abroad by post but that plan failed and it came into the hands of the museum. During the war, an archivist at the museum had to lie about its authenticity to keep it out of the clutches of the Nazi as it attracted the attention of the Gestapo.
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The Moravian Museum is to return the manunoscript of a late Beethoven quartet to its previous owners after having kept the treasure for more than 80 years. Оnce the richest family of pre-war Czechoslovakia, the Petschek family was forced to flee the Holocaust. They tried to protect the manunoscript by sending it abroad by post but that plan failed and it came into the hands of the museum. During the war, an archivist at the museum had to lie about its authenticity to keep it out of the clutches of the Nazi as it attracted the attention of the Gestapo.
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