❌ Germany 🇩🇪 reported its first monthly trade deficit in three decades, 📉as companies faced surging costs for imports and softer demand for their products amid a darker economic outlook. Prices for imports like energy, food and parts used by manufacturers rose by more than 30% in May compared to a year ago.

❌ Bail-out law in the works: The German government will be able to buy stakes in energy companies buckling under the cost of soaring gas import prices, 📈 according to draft legislation. The amended law, which may come before parliament this week, could also allow the government to impose emergency levies on consumers.

❌ The euro sank 💶 to a two-decade low versus the 💵 dollar. The rising costs for CO2 emissions mean further burdens for households and companies as Green Agenda is pushed.

📌 Netherlands🇳🇱 - Dutch 🚜 farmers protests turn violent with stand-offs against armed police/🚓 undercover police after weeks of peaceful protests against the gov’t's radical plan to cut nitrogen emissions by 50% - 95% by 2030. Teargas and dogs were unleashed against farmers.
The gov’t green agenda will destroy over 1/3 livestock 🐄 farming in The Netherlands. The new emission plan is tied to both the Agenda 2030 Sustainable Development Goals and the EU’s Natura 2000 conservation plan which effectively targets and destroys private property rights for farms.

📌 Local media also reported of empty shelves in some supermarkets, with mostly fresh produce such as 🍞 bread, 🥦 vegetables, 🍎 fruit and milk🥛 in short supply. (Video- compilation over the past few days all over The Netherlands).

🔹 Uganda 🇺🇬 announced that it had discovered 31 million metric tons of gold waiting to be mined in the country after several surveys were conducted. In a bid to boost the country’s economy, the Ugandan government has licensed Wagagai gold mining company, a Chinese firm to start producing gold products in Busia district. The company has invested $200M towards constructing a refining 🔥 facility. Despite all the gold discovered in the country, the mining ⛏difficulty is notably high, and this impacts the amount of gold that is actually mined.

🔹 Uganda’s Central Bank has raised its benchmark policy rate by 1% to 8.5% 📈in a radical move. This was occasioned by panic amidst surging inflation levels and increased pressure exerted by the US dollar against the local currency as a result of spikes in interest rates.

🔹 Last week, China 🇨🇳 & Uganda 🇺🇬 celebrated 60 years of diplomatic relations and hope to continue win-win partnership.

🔹 Australian 🇦🇺 gov't is exterminating tens of millions of bees in a bid to ward off a varroa mite plague. Varroa mites feed and reproduce on larvae and pupae of the developing brood of bees. 🐝

🔹 While authorities are still optimistic they can contain the mite, experts concede doing so will be difficult. No major beekeeping nation has managed to get rid of the varroa mite. Australian experts say it's important to remember varroa has NOT caused a honey bee 🐝 shortage anywhere in the world. The mite has spread across the world to colonise almost every known location of European honeybees.

🔹 Some experts say use biocontrol not extermination. Treating the mite 🪲as an biocontrol would mean diverting money away from extermination towards control measures to help industries live with varroa; such as, increasing the use of native pollinators and allowing the mite in European honeybee hives, so as to allow a recovery of native pollinators because the varroa mite has little impact on native bees.🍯

🔹 The U.S. Treasury 🇺🇸 has imposed more oil and petrochemical industry sanctions on Iran 🇮🇷 amid stalled nuclear negotiations. New sanctions are on an international network of companies and individuals involved in the marketing of Iranian crude oil and petroleum products in East Asia.

🔹 More than 5 million barrels of oil 🛢 that were part of a historic U.S. 🇺🇸emergency reserves release to lower domestic fuel prices were exported to Europe 🇪🇺 and Asia last month. About 1 million barrels per day is being released from the Strategic Petroleum Reserve (SPR) through October. The flow is draining the SPR, which last month fell to the lowest since 1986.

🔹 China 🇨🇳 likely imported another 2 million barrels per day (bpd) of discounted Russian crude oil in June after bringing in around the same amount in May, keeping Russia 🇷🇺 as its top oil supplier ahead of Saudi Arabia 🇸🇦 for a second consecutive month.

Kazak oil supply to Europe reportedly interrupted❗️
🔹 A Russian court 🇷🇺 ordered a 30-day suspension of transit of Kazakh oil due to technical violations identified by Russia’s consumer protection watchdog Rospotrebnadzor. The activity of the Caspian Pipeline Consortium (CPC), which takes oil from 🇰🇿Kazakhstan to the Black Sea ⚓️ via one of the world's largest pipelines.

🔹The CPC operator said that the ruling to suspend operations was related to paperwork on oil spills and that the consortium had to abide by it. The CPC is a multinational oil transportation project involving 🇷🇺 Russia, 🇰🇿 Kazakhstan and a consortium of leading oil companies.

🔹The pipeline delivers around 1.2 million barrels of crude oil 🛢daily from Kazakhstan to Europe 🚢 and also for subsequent shipment to the US. CPC is presently appealing the court decision.

Europe's energy crisis continues as the EU 🇪🇺 doubles down on climate-change green agenda & sanctions against Russia. 🇷🇺

🔹French 🇫🇷 power giant 🔌 Electricite de France (EDF) will be fully nationalized under new government plans in France. YTD, the utility has lost 18% on the stock market over piling debts and cost overruns on major nuclear power 🏭 projects.

🔹Germany’s 🇩🇪 vice chancellor made a public plea to the Canadian 🇨🇦 government to release a turbine that’s caught up in sanctions against Russia and critical for gas flows to Europe.

🔹Germany's 🇩🇪 largest residential landlord Vonovia will reduce heating for tenants in many of its apartments at night.

🔹Hungary 🇭🇺 has lashed out at the EU 🇪🇺 over a suggestion that all natural gas 🔥stored by individual member states must be shared.

🔹Estonia 🇪🇪 -The City of Narva is expected to declare a state of emergency after a natural gas procurement organized by Enefit Power 🔋, failed due to a lack of bidders.

🔹Ukraine 🇺🇦 opposes Canada 🇨🇦 handing over a turbine to Russia's state-controlled Gazprom for natural gas supplies to Germany 🇩🇪 as the move would contravene sanctions on Russia. Ukraine says they have information that Canada was preparing to hand over the turbine at Germany's request.

🔹Germany’s 🇩🇪 vice chancellor made a public plea to the Canadian 🇨🇦 government to release a turbine that’s caught up in sanctions against Russia and critical for gas flows to Europe.

🔹Canadian 🇨🇦 sanctions on Russia 🇷🇺 has a 'quasi-embargo' on natural gas to Germany 🇩🇪. The Gazprom gas turbine that Germany's Siemens Energy took to a Canadian factory to repair and that Gazprom blamed for the reduced Nord Stream1 flows is not coming back to Russia anytime soon due to failure on a viable solution for the turbine between Germany and Canada.

🔹Amid farmers 🚜 protests in The Netherlands 🇳🇱 over the gov'ts nitrogen policy, the EU 🇪🇺 is planning to double down and pass restrictions on manure spreading by Dutch farmers from 2023. Arrests of farmers continue.

🔹Protests 🔥have grown in the past few weeks after a government pledge to rein in pollution emissions, a move that will hit the country’s agriculture sector by forcing farmers to reduce their animal herds 🐄 or shut-down their farms. The Dutch governing coalition has mandated reductions in emissions of nitrogen oxides and ammonia of up to 70% in many areas of the country close to protected nature areas — even reaching as high as 95% in some places.

(Video)- Dutch farmers 🚜 have breached the city of Nijmengen, the mayor of which said not a single farmer would get through.

🔹 Farmers from across Germany 🇩🇪 have descended on Berlin to take part in a mass protest against the government's agricultural reform package that foresees a reduction of fertilizers and insecticides with a view to curbing the nitrate content in the groundwater.

🔹 Farmers 🚜 want to see honest research into where the nitrate content in the groundwater really comes from, suspecting a gov't cover-up over the desolate state many of the nation's wastewater treatment 🏭 plants are in, polluting the groundwater.

🔹 Farmers: "When we're supposed to reduce the use of fertilizers 🌱 by 20% as the government wants us to, it means that our plants 🍀 get 20% less nutrients every year".

🔹 Italy 🇮🇹 : Farmers join their Dutch counterparts 🚜 and are protesting 🔥due to their outrage over new EU regulations that will force them to reduce their nitrogen fertiliser compounds, leading to a reduced number of their livestock, 🐄 ultimately causing bankruptcy in family-owned businesses.

🔹Italian 🇮🇹 farmers have already been under pressure due to the worse drought conditions in 70 years ☀️ in northern Italy, with a state of emergency declared.

Video: The farmers of Bauern city came to the streets and blocked the roads in protest of the living conditions and new environmental laws.

🔹Andrey Melnichenko, founder of chemical giant EuroChem has claimed “The EU 🇪🇺sanctions mean suffering, famine and migration flows for many hundreds of millions of people,”. Suffering people will want to hold those responsible accountable, and the EU won’t be able to shift its culpability, the businessman added. It was not Russia 🇷🇺 or the US 🇺🇸, but EU 🇪🇺member states, which chose to disrupt the operation of his chemical empire with sanctions.

🔹EuroChem, a leading fertilizer producer, is headquartered in Switzerland 🇨🇭, where Melnichenko also lives with his family. The EU and Switzerland targeted the company and its owner with sanctions aimed at hurting the Russian economy. Melnichenko argued he personally was unjustly punished for being a rich Russian, dismissing claims that he had any influence on the Russian government.

🔹 A widespread network outage from Rogers Communications Inc. left many 🇨🇦 Canadian customers without mobile and 🌐 internet service.

🔹 The outage disrupted services across retailers🛒, courthouses🏛, airlines✈️, train networks🚃, credit card 💳processors and police forces, pushing many to delay business transactions, serve customers through analog means or even flock to coffee shops where they could find Wi-Fi.

🔹 Interac, which operates an email money transfer service used by several Canadian banks, said the outage was affecting its services. Toronto-Dominion Bank 🏦said it was facing system issues with its Interac e-Transfer service.

Sri Lanka- 🇱🇰(Video compilation of presidential palace breached.)🇱🇰

🔹Tens of thousands of protesters broke into and ransacked Sri Lanka’s presidential palace 🏛 to vent their fury against a leader they hold responsible for the nation’s worst economic crisis. Protesters carrying flags 🇱🇰 and taking photos inside the building, while others lay on the grass in the palace grounds.

🔹The prime minister of Sri Lanka has agreed to step down. He has been moved to a secure location 🏠 amid the unrest.

🔹Hundreds of others sat down on carefully manicured lawns for a break from the morning's confrontation with police officers, 🚓 who had fired barrages of tear gas and water cannon at demonstrators.

🔹Canada 🇨🇦 makes “special exemption” to bypass imposed sanctions on Russia 🇷🇺 and will release a Russian turbine to Germany 🇩🇪 that's necessary for maintaining Russia's Nord Stream 1 natural gas pipeline. Ukraine’s president recently warned Canadian officials not to release the turbine amid German authorities begging for an exemption as Germany is in an energy crisis due to sanctioning Russia. To misdirect the public from this debacle, 😂 Canada simultaneously announced a widening of its sanctions against Russia.

🔹Germany 🇩🇪 is rationing hot water, dimming its street lights and shutting down swimming pools as the impact of its energy 🔌 crunch begins to spread from industry to offices, leisure centres and homes.

🔹Argentine 🇦🇷 left and right wings gathered in the Plaza de Mayo in a protest against the IMF and in opposition to the national government. 🔥 Protestors gathered at the Plaza de Mayo to call for a general strike and a ceasing of payments in Argentina's agreement with the IMF amid the country's increasing inflation and economic volatility.

🔹Concerns are surfacing in the country about the negotiation of the debt of 45 billion dollars 💵 with the IMF, an unleashed inflation 📈 that accumulates 30% so far this year that according to analysts could reach 70%, in addition to shortages and rising dollar prices in the official and black markets.

Explosion 🔥on Saturday at an Natural Gas Liquids fractionation facility in Medford, Oklahoma, about 85 miles south of Wichita, Kansas, USA. 🇺🇸 Oneok, Inc, a leading midstream service provider and the operator says personnel are accounted for evacuation of nearby residents completed.

ONEOK's fractionation plant 🏭 separates NGLs into NGL products, such as ethane, propane, butane, and natural gas, used widely in all sectors of the economy. NGL products are used in inputs for petrochemical plants, generating electricity at power plants, burning for cooking, and blended into vehicle fuel. The Medford fractionation facility feeds NGL products in pipelines through Texas to Mont Belvieu on the Gulf Coast, 🚢 a major export hub ⚓️ area for energy products.

🔹Albania 🇦🇱 - Protests broke out a few days ago. The demonstrations were peaceful, 🔥conducted in front of Prime Minister Edi Rama’s office, and organized by former Democratic Party leader Sali Berisha. Unrest stems from “huge price hikes,” high costs of fuel, and a slowing job market.

🔹Protestors on the scene said they came out to challenge “poverty, corruption, and crime,” as well as “depopulation.” The Central Bank shocked its economy, hiking the key interest rate 100 basis points from 0.25 to 1.25 percent. Central Bank Governor Gent Sejko was directly quoted as defining inflation 📈 as “the biggest danger that threatens the long-term sustainable growth of the country.”

🔹Chicago corn 🌽 soared the most in nearly a year after the sweltering summer heat may dent crop yields. A heatwave over the Midwest grain belt is underway during corn's pollination period, a flowering stage for the grain, and is the most crucial development period for yield determination. High temperatures ☀️ and a lack of rainfall during the pollination phase usually result in lower yields.

🔹US- “A small fraction of the field corn we grow goes to actual food products such as cornflakes or sweeteners or such,”. “It's actually less than 10% that goes towards those products.” Most goes to ethanol ⛽️production and animal feed 🐓.

🔹The euro 💶 and the U.S. dollar 💵 are equal for the first time in 20 years, as Russia 🇷🇺 cut off gas to Germany via NordStream 1 for planned maintenance and inflation rates soar, sparking fears of a European recession. The euro slipped as low as around $1.00005 this morning. The euro has been on a steady decline since last May – when one euro was worth $1.22.

🔹The European 🇪🇺 Central Bank has yet to start raising its borrowing costs – currently below zero – but has signalled its first rate hike in a decade will come later this month. Data released Monday showed that in May, Germany 🇩🇪 posted a foreign trade deficit of 1 billion euros ($1.03 billion). This marks a significant moment for the German economy, which had reported trade surpluses for several decades.

In the city of Bautzen, 🇩🇪 Germany, farmers carried out a protest convoy in support of their Dutch neighbors’ efforts. A Dutch 🇳🇱 and German farmer exchanged flags in solidarity on the border between the Netherlands and Germany. Blackout of farmers 🚜 protests in European corporate media. The Netherlands PM Mark Rutte have insulted farmers for protesting and will continue his 'Great Reset' agenda. The Netherlands is a major EU food exporter to the Europe.

🔹Protests 🔥have grown in the past few weeks after a government pledge to rein in pollution emissions, a move that will hit the country’s agriculture sector by forcing farmers to reduce their animal herds 🐄 or shut-down their farms. The Dutch governing coalition has mandated reductions in emissions of nitrogen oxides and ammonia of up to 70% in many areas of the country close to protected nature areas — even reaching as high as 95% in some places.