🔹France 🇫🇷 - The biggest of around 200 protests 🔥 nationwide drew up to 40,000 people in Paris. The strike today by trade union groups has seen 10,000 protestors in the western region of Brittany. One in three railway 🚂 workers also stopped work.

🔹Several unions, including the country's biggest, did not take part. 11% of teachers were in the strike. A strike by workers at France’s oil refineries 🏭 is disrupting fuel supplies.

🔹Workers have gone on strike at oil refineries that handle more than half the country’s fuel making. Two have fully halted while a third is moving toward running at technical minimum levels. Together they account for more than half of France’s capacity to make diesel, ⛽️ gasoline and other fuels.

🔹President Macron has threatened to "instantly" dissolve parliament if French MPs block his pension reforms. The president has argued that getting French people to work longer is crucial to redressing the country’s debt-ridden 📈 public finances.

🔹President Vladimir Putin has signed the treaties on the inclusion of the two Donbass republics, as well as Kherson & Zaporozhye Regions, which declared independence from Ukraine, into the Russian Federation.

🔹The heads of the Donetsk and Lugansk People’s Republics, as well as the leaders of Kherson and Zaporozhye Regions, signed the accession treaties together with President Putin.

🔹The results from these regions in their recently held referendum to join the Russian Federation were:

🇷🇺DPR - 99.23% voted yes, with a 97.5% turnout

🇷🇺LPR - 98.42 voted yes, with a 92.6% turnout

🇷🇺Zaporozhye Region - 93.11% voted yes, with a 85.4% turnout

🇷🇺Kherson Region - 87.05% voted yes, with a 76.9% turnout

🔹The treaties will now be submitted to Russia’s Constitutional Court 🏛, which will assess them to ensure they do not violate Russian law. Once they are cleared, the agreements will have to be ratified first by the State Duma & then by the Federal Council.

🔹A very interesting paragraph from 🇷🇺 President Putin's speech today. His speech exposed the unipolar international "rules based" order for the neocolonial slavery system that it is.

🔹Kremlin officially released English Trannoscript-

"...Let me repeat that the dictatorship of the Western elites targets all societies, including the citizens of Western countries themselves. This is a challenge to all.

This complete renunciation of what it means to be human, the overthrow of faith and traditional values, and the suppression of freedom are coming to resemble a “religion in reverse” – pure Satanism. Exposing false messiahs, Jesus Christ said in the Sermon on the Mount: “By their fruits ye shall know them.”

🔹Russia’s 🇷🇺 Gazprom has informed Italian 🇮🇹 energy company Eni that it will not be able to supply gas to the country, due to the “impossibility of transporting it” through 🇦🇹 Austria, (TAG Pipeline Network) which leaves Gazprom unable to confirm the volumes of gas requested to date.

🔹Gazprom's statement: Export through Austria 🇦🇹 has been suspended due to the refusal of the Austrian operator to confirm the transport nominations. The reason is related to the regulatory changes that took place in Austria at the end of Sept.

🔹The TAG Pipeline System consists of three lines, five compressor stations. The Pipeline leads from the Slovakian 🇸🇰 - 🇦🇹 Austrian border near Baumgarten an der March to the Austrian - Italian border near Arnoldstein.

🔹Most of Russian gas delivered to Italy 🇮🇹 passes via Ukraine 🇺🇦 to the Trans Austria Gas Pipeline, to Tarvisio in northern Italy on the border with Austria. However, Austria continued to receive gas at the delivery point on its border with Slovakia.

Keep your eyes on the US Treasury / bond and forex markets.

🔹The BOJ & the Japanese 🇯🇵 gov't intervened for the first time in 24 years to buy the yen 💴 & sell the 🇺🇸 dollar.

🔹China's 🇨🇳 central bank has asked major state-owned banks to be prepared to sell 💸dollars for the local unit in offshore markets. The Chinese currency, which has lost more than 11% to the dollar so far this year.

🔹The trading volumes of offshore 🇨🇳 yuan account for about 70% of all yuan FX trades globally, dwarfing the volumes traded on the mainland. The simultaneous dumping of the 🇺🇸 US dollar & purchasing of the yuan are expected to avoid further drops in the Chinese currency.

🔹India's 🇮🇳 central bank is encouraging state-run refiners to reduce 💵 dollar buying in the spot market to contain a sharp fall in the rupee. The Reserve Bank of India has ensured $9 billion has been made available as a special credit line instead.

🔹UK 🇬🇧 - A march for Welsh independence 🏴󠁧󠁢󠁷󠁬󠁳󠁿 attended by thousands of people has taken place in Cardiff. More than ten thousand people are thought to have taken part in the march yesterday.

🔹Harriet Protheroe-Soltani from AUOB Cymru (demonstration organiser) said: “Given the UK government’s recent tax cuts for the rich and continual erosion of workers’ rights, it’s important, now more than ever, that people come along and demonstrate that we do not trust Westminster to look after the interests of Wales.” 🏴󠁧󠁢󠁷󠁬󠁳󠁿

🔹YesCymru (another demonstration organisation) CEO said the the marches are done so "we can raise our voice, so we can get attention for the independence debate 🏴󠁧󠁢󠁷󠁬󠁳󠁿 so that we can have interviews like this, so that we can get other people in Wales talking about independence.

🔹Burkina Faso's 🇧🇫 new junta leadership called for an end to the unrest today, after yesterday's angry protesters attacked 🔥 the French Embassy & other buildings following Burkina Faso's 🇧🇫 2nd coup this year.

🔹Anti-French 🇫🇷 sentiment rose sharply after an earlier junta announcement alleged that ousted interim president Lt. Col. Paul Henri Sandaogo Damiba was sheltering at a French military base.

🔹Damiba himself led a coup 🔥 earlier this year against a civilian gov't that had lost support over rising violence by Islamist extremists.

🔹The country 🇧🇫 faces an Islamic insurgency, a crisis that has forced 2 million people from their homes in recent years.

🔹Damiba was seen as too cozy with former colonizer France 🇫🇷, which maintains a military presence in Africa’s Sahel region.

Video compilation- Capt. Sorgho statements (beginning & end of clip) & protests. Sourced via social media. Pro-Russia sympathizers can be seen in some of these protests.

🔹China's 🇨🇳 net gold imports (68.227 tonnes) via Hong Kong 🇭🇰 jumped nearly 40% to an over 4-year high in August.

🔹London 🇬🇧 gold dealer runs out of gold bullion. BullionVault, a UK-based brokerage, sees new accounts opened to buy bullion at more than double the usual rate.

🔹India 🇮🇳 slashes base import price of gold to $533 from $549 per 10 grams. (for import tax calculations)

🔹Together with the Russian 🇷🇺 Central Bank’s reserves, Russia’s state fund and its National Wealth Fund are believed to hold about 12,000 tonnes of gold. Steps have been taken to “mobilise” the non-reserve gold.

🔹Moscow's 🇷🇺 new gold standard and plans for a new trade settlement currency to replace the dollar 💵 require enhanced gold reserves so as to provide support a new gold standard for cross-border trade.

Video courtesy Sean Foo

🔹Diesel and petrol ⛽️ stations in parts of France 🇫🇷 are running out of fuel due to worker strikes at 🏭 oil refineries. France’s total refining capacity is roughly 1.4 million bpd—the fourth highest in Europe.

🔹France 🇫🇷is pouring billions into energy 💡price caps and plans to offset this with the windfall tax on energy producers.

🔹France's 26 of 56 nuclear 🏭 reactors are down for maintenance. Électricité de France (EDF) plans to have all reactors online by winter ⛄️.

Recently reported news on France's energy:

💠 Massive protests 🔥 throughout France as unions strike.

💠 French gov't plans to nationalize EDF. Firewood 🪵 prices jump.

💠 French steel smelter shut down due to high 📈 energy prices.

💠 Ammonia factory shut-downs result in commercial CO2 shortages in France 🇫🇷.

🔹Chinese 🇨🇳 companies that signed long-term contracts to buy U.S. 🇺🇸 LNG are selling the excess & making millions per cargo 🚢. Buyers include Europe, 🇪🇺 Japan 🇯🇵 & South Korea. 🇰🇷 This year, all available cargo was resold.

🔹China is getting nearly 30% more gas from Russia 🇷🇺 so far this year via the Power of Siberia pipeline & discounted Russian LNG. The Atlantic spot LNG freight rates jumped 91% 📈 from the previous week, hitting $318,250 per day on Friday, just below the all time high of $322.5 from January 2021.

🔹"The biggest challenge facing every market participant right now is credit,". "The ballooning 📈 of LNG cargo 🚢 values, along with the spike in volatility, has ... put quite a strain on those players operating with smaller balance sheets.

Recent LNG reports on this channel.

💠 US 🇺🇸 LNG export boom & shale drilling jump.

💠 Sanctions on Russia + Europe LNG/oil 📈 demand drive tanker rates to record highs.

💠 Russia 🇷🇺 profitably selling Sakhalin LNG @ 50% discount.

🔹The EU 🇪🇺 agreed to mandate a reduction in electricity 💡consumption by at least 5% during peak price hours. IEA says EU bloc need to reduce natural gas use by 13% over the winter in case of gas cut-off. EU continue to push windfall taxes, power rationing, & price caps on imported gas.

🔹German 🇩🇪 households & small businesses raised their natural gas consumption by 14.5% above the 5-year average in the week from Sept. 19 - 25. The FNA noted that a reduction in consumption of at least 20% is required to avoid a gas shortage in the coming months. Sales of electric heaters 🔌 soar in a spree of panic shopping over fears of gas shortages.

🔹UK's 🇬🇧 Ofgem said there was a possibility that Britain could enter a “gas supply emergency” in which supplies to some gas-fired power plants 🏭 could be cut off, stopping them generating electricity.

🔹Sweden's 🇸🇪 state energy supplier is trying to prepare for the winter ⛄️with austerity tips for consumers.

🔹France 🇫🇷 - Nuclear power group, EDF is rushing to get nuclear power stations 🏭 online after reactors were shut down due to corrosion issues. The process has started for the gov't to fully nationalise debt-laden EDF.

🔹1 of Belgium’s 🇧🇪 6 functioning nuclear reactors, the Tihange 3, 🏭 went offline unexpectedly. Belgium shut down one of the reactors at its Doel plant “for good” just over a week ago, based on plans to dismantle its nuclear energy infrastructure.

🔹Germany 🇩🇪 realises the needs to hold off on abandoning nuclear power. 2 of the 3 remaining nuclear power plants in operation will stay online at least until early 2023.

🔹The debate on Italy’s 🇮🇹 no-nuclear stance is being re-ignited, as The League cites the need to attain energy sovereignty to manage rising energy bills.

Recently reported here:

💠 26 of 56 French 🏭 nuclear plants down.

💠 Hungary 🇭🇺 partners with Russia 🇷🇺 for construction of nuclear reactor.

💠 Worker strikes at French 🇫🇷 nuclear facilities.

🔹Turkish 🇹🇷 & Russian central banks delegates had their 15th meeting of the exchange in Kazan, Republic of Tatarstan. 🇷🇺

🔹They discussed the possibility of using the Turkish 🇹🇷TROY payment system instead of MIR which is sanctioned by the US 🇺🇸.

🔹If Russian banks that are outside US sanctions accept the TROY payment system or if they open an account with Turkish banks operating in Russia & receive a card, integrated with Troy, Russian tourists can shop on these cards 💳 in Türkiye.

🔹TROY was controlled by the Interbank Card Center (BKM), but in March 2021, it was brought under a separate umbrella that is state controlled.

🔹The system and transactions are under the direct control of Türkiye 🇹🇷 & user-info is not stored abroad on servers.

Backstory to development:

💠The 🇺🇸 US Treasury imposed sanctions on any institution outside Russia 🇷🇺 using the MIR payment system. This forced Türkiye to stop using MIR.

💠Five Turkish 🇹🇷 banks previously adopted Russia’s MIR payments system.

🔹The Joint Ministerial Monitoring Committee (JMMC) of the OPEC+ group (at OPEC HQ in Vienna, Austria 🇦🇹) recommended today a 2 million barrels per day (bpd) cut in production for November.

🔹The US 🇺🇸 had pushed OPEC not to proceed with the cuts.

Must watch video - OPEC+ defends their role in oil market stability compared to LNG/coal/natgas with facts & figures amid Central Banks QE. They reiterated the fundamentals of oil price in maintaining long term capital investments for years to come, not short term. Reuters put in spot for their fake news. Congo Energy Minister schools western journalist on what energy poverty is.

Previous posts on this channel:

💠 EU 🇪🇺 plans to impose price cap on Russian 🇷🇺 oil in markets.

💠 The U.S. sanctioned firms in China, 🇨🇳 India, 🇮🇳 Hong Kong 🇭🇰 & the UAE 🇦🇪 over Iranian petroleum trade.

💠 Shipping LNG & oil cargo 🚢 prices increase due to jump in tanker rates.

💠 Russia's 🇷🇺 won't sell oil 🛢 to countries that impose a price cap.

🔹Low water levels 📉 in the Mississippi River restricts barge traffic along one of the 🇺🇸 US’s busiest waterways this week. The river is always relatively low in the early autumn, but this year the situation is especially pronounced after a very dry summer.

🔹Unless more rain falls soon 🌧 in the Midwest, which is drained by the Mississippi, the southern reaches of the river could soon fall to some of their lowest levels in a decade.

🔹Salty water from the Gulf of Mexico can now creep upstream. In response, plans are to build a sill — something like a speed bump made of sediment — on the riverbed near Myrtle Grove, Louisiana, to keep saltwater from threatening drinking 💧supplies.

🔹29% of the US's soybean crop is transported by barge. 🚢 Barge capacity is down by about one-third this fall. Nearly two-thirds of exported corn 🌽 typically travel down the Mississippi River.

🔹 Malaysia - 🇲🇾 Petronas declares force majeure on contracted LNG deliveries to Japan 🇯🇵 through the year-end. Supply to its LNG export facility reduced because of a leak on the Sabah-Sarawak Gas Pipeline, due to a landslide on Sept. 21.

🔹Leak may be repaired before end of 2022. Roughly 10 LNG shipments 🚢 will be lost over the next 3 months. Malaysia delivered 51 cargoes to Japan in the last 3 months of 2021.

🔹With a total LNG capacity of 25.7 million tons per annum, the Malaysia LNG project is one of the largest LNG facilities 🏭 in a single location in the world.

🔹The gov't recently approved a proposal to amend the Inland Revenue Board of Malaysia Act 🇲🇾(LHDN) so that Sabah & Sarawak (2 states) can have representatives sit on the LHDN board.

Recent reported here:

💠 LNG deals between Japan 🇯🇵 & Russia 🇷🇺 via the Sakhalin project.

🔹UK's 🇬🇧 Grid Operator warned that planned three-hour power blackouts 🕯 could be imposed in some areas, in the "unlikely" event supplies of gas fall short of demand.

🔹Gas needed to power the grid was expected to rise by nearly 22% - 📈 offsetting savings from lower household & business use - largely because of a need for power in France 🇫🇷 where many nuclear plants are offline. (Photo- Electricity Interconnector b/t UK & France)

🔹LNG 🚢 from the US 🇺🇸 & Qatar 🇶🇦 are acting as the new primary source of supply flexibility. Gas accounts for over 40% of UK power generation - more if the wind fails to blow & other plants are offline for maintenance.

Recently reported here:

💠 UK's 🇬🇧 Ofgem said there was a possibility that Britain could enter a “gas supply emergency”.

💠 The UK formally lifted the moratorium on shale gas extraction in England 🏴󠁧󠁢󠁥󠁮󠁧󠁿.

💠 UK energy executives warns of mass civil unrest due to higher heating & electricity 🔌 bills this winter.

🔹German 🇩🇪 households & businesses need to increase energy conservation more than ever as average temperatures are set to slide to near 5 deg. C in the second half of the month. Good news is the total gas storage level in Germany is about 92.75% 📈.

🔹Italian gov't 🇮🇹 signs decree on energy reduction for heating to encourage conservation. Different zones will be allowed specific duration limits & building types will be allowed temperature limits 🌡 from 17 °C +/– 2 °C.

🔹Emergency scenarios are being prepared in Sweden 🇸🇪 in case of power cuts. since a windless summer resulted in less electricity 🪫 from wind turbines. Sweden did not seek to compensate energy and fuel prices, but cut taxes; however, this did not live up to expectations.

🔹Poland 🇵🇱- people have started collecting household trash to burn 🔥 this winter due to high energy costs. Poland is home to 40 of the 100 cities with the worst air quality in the EU b/c of a reliance on coal to heat homes.

🔹The US 🇺🇸 is reviewing various options regarding its relationship with Saudi Arabia 🇸🇦 after OPEC+ nations agreed to cut oil production. Biden admin “disappointed by the short-sighted decision” accused OPEC+ of “aligning with Russia”. 🇷🇺 Another 10m barrels will be released from the US SPR.

🔹OPEC+ cutting supply to offset reduced US oil 🛢 demand & send US economy into recession even faster so Fed is forced to cut rates.

🔹Saudi Arabia 🇸🇦 sells most of its oil under long-term contracts to Asia, pricing for which is reviewed each month. China, 🇨🇳 Japan, 🇯🇵 South Korea 🇰🇷 & India 🇮🇳 are the biggest buyers.

🔹Russia is under-producing by c.1.3 mb/d vs its current quotas. This means an actual cut of a little under 1 million bpd.

🔹US 🇺🇸 Democrats in 2020, killed a proposal by Trump to replenish the SPR with oil from American producers.

🔹OPEC+ lined up with Russia 🇷🇺 to slash output by 2m barrels a day 🛢 from November & through 2023. Video clip of OPEC meeting here.

🔹Some fuel stations ⛽️ along France's 🇫🇷 borders have run dry after strikes that have disrupted TotalEnergies' refining & delivery of oil products. About 12% of service stations are experiencing some shortages, with the number in the northern Hauts-de-France region at 30%.

🔹TotalEnergies said repair works were currently underway at the 119,000 barrel per day 🛢 refinery in southern France. The trade union is demanding a 10% salary increase to help catch up with soaring inflation 📈.

🔹Strike action & unplanned maintenance have taken offline more than 60 percent of France’s refining capacity – or 740,000 barrels per day (bpd) 🛢. The French government said earlier this week that France had tapped its strategic fuel reserves to resupply petrol stations ⛽️ that have run dry.

🔹TotalEnergies has said it has increased imports & has additional stocks "that could last between 20 days and a month." After that France 🇫🇷 will be effectively paralyzed, only it won't be Putin's fault but the labor unions.

🔹Citizens of Poland 🇵🇱, many of them municipal officials, rallied in Warsaw today, to protest the costs of keeping lights 💡on in the country as energy prices continue to soar.

🔹The Associations of Polish Cities and Regions and the Union of Polish Metropolises organized the protest 🔥 to warn that there was "only darkness ahead."

🔹Energy bills rose by over 700% 📈 from last year, forcing city authorities to cut power to recreational and child care facilities and turn street lights off at night to save money.

🔹Prime Minister of Poland Mateusz Morawiecki in a written address to the protesters laid the blame for what is happening on Russia 🇷🇺. He noted that the Polish government had already decided to allocate tens of billions of zlotys to support local governments.