🔹Hungary 🇭🇺 & Serbia 🇷🇸 have agreed to build a pipeline to supply Serbia with Russian Urals crude via the Druzhba oil pipeline as Belgrade's shipments via Croatia 🚢 (seaborne oil) fall under EU sanctions. Serbia gets its oil via the JANAF oil pipeline from Croatia.

🔹"The new oil pipeline would enable Serbia to be supplied with cheaper Urals crude oil. Hungary, has been the most vocal critic of sanctions against Russia in the EU, saying the measures drove up energy prices.

🔹The southern branch of the Druzhba, or Friendship pipeline, runs via Ukraine 🇺🇦 to Hungary 🇭🇺, Slovakia 🇸🇰 & the Czech Republic 🇨🇿, & has been the primary source of supply for the 3 countries' refineries for years. Serbia's sole oil company is NIS, in which Russian Gazprom Neft & Gazprom together hold a majority stake.

🔹Serbian PM warned that a ban on seaborne oil 🛢 supplies from Russia 🇷🇺 & pumping through Croatia 🇭🇷 would increase Serbia’s raw-material costs by 20%.

🔹Canada 🇨🇦- Grain 🌾 shipments stalled from fields in northwestern Alberta due to a shut down of rail traffic in & out of the Grande Prairie area for an unknown amount of time.

🔹On Oct 5th, a bridge burned down 🔥 on the Canadian National Railway Co. line (CN), severing the only rail link in or out of Grande Prairie. This is causing backlogs for the grain shippers who depend on that track to get their product to the Port of Vancouver🚢.

🔹“For perspective, that bridge was almost 600 feet long and almost 40 feet high,”. The railway says the mainline outage is affecting its ability to spot grain cars 🚂 at elevators in Western Canada.

🔹This ultimately will affect the available supply of empty hoppers for next week’s grain 🌾 spotting program as the outstanding traffic 🚂 cannot all move at once, and CN needs to actively manage the lineup of loaded cars to avoid overwhelming terminals,”.

🔹Russia’s 🇷🇺 Gazprom is expected to finalize deals in the near future to develop six oilfields & two gas fields in Iran. Iran’s energy sector has been subject to US sanctions since 2018.

🔹Russian Deputy PM says talks are going on with Iran on working out mechanisms to implement oil 🛢 and gas swap deals. Iran 🇮🇷 could import some 6 million cubic meters (mcm) per day of natural gas from Russia through pipelines from Azerbaijan

🔹Iran's First VP has called for the Caspian littoral states to create an oil and gas cooperation committee during the Caspian economic forum (Russia, Turkmenistan, 🇹🇲 Kazakhstan, 🇰🇿 Azerbaijan 🇦🇿 & Iran) in Moscow. This includes establishing a joint bank & creating a free trade zone.

Last reported on this channel:

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

💠 Iran & Russia 🇷🇺 unifying banking systems for trade in ruble/rial currency pair.

💠 Iran🇮🇷 signs MOU's at SCO meeting in Samarkand.

🔹Russian 🇷🇺 President Putin has started talks with UAE's 🇦🇪 President Al Nahyan in St. Petersburg. Topics discussed include strengthening co-operation & common issues.

🔹On the decision of the OPEC+ group to limit oil 🛢production, President Putin remarked “our decisions, our action, aren't directed against anyone.”

🔹He continued: “Our actions are aimed at ensuring stability in global energy markets to make both consumers of energy resources and those who deal with production & supplies feel calm, stability and confidence, to help balance supply and demand.”

🔹UAE's affirmed of its readiness to fully support efforts to find a political solution to the crisis in Ukraine 🇺🇦 through diplomatic methods, dialogue & respect for international law.

🔹The UAE 🇦🇪 has maintained close business ties with Russia and sought to refrain from joining the sanctions imposed by the U.S. and other Western allies”

🔹PERN, the operator of the Druzhba oil pipeline (across Poland 🇵🇱) reported a leak in one of the two lines of the Western section of the pipeline – about 70 kilometres from Plock, Poland.

🔹This line is used to deliver crude oil 🛢 to Germany. At the moment, the causes of the incident are unknown – pumping on the damaged line was immediately switched off (towards Germany🇩🇪). Pumping through the other line remains undisturbed.

🔹Polish refineries 🏭 continue to receive crude oil as nominated. The situation also has no impact on access to fuel ⛽️ for Polish drivers. Several hours more will be needed to clean up the aftermath of the oil leaks from the Druzhba pipeline.

Recently reported here.

💠Hungary 🇭🇺 & Serbia 🇷🇸 have agreed to build a pipeline connection to southern section of Druzhba pipeline.

💠The German 🇩🇪 gov't confiscates Russia's 🇷🇺 state-owned Rosneft's German assets in order to keep the PCK Schwedt refinery 🏭 (which receives crude from the Druzhba pipeline).

🔹 French 🇫🇷 gov't plans to "requisition" (i.e. force) essential workers to staff Exxon’s & Total's French oil depot/refineries 🏭 if negotiations fail to progress.

🔹Workers maintain blockades now in their 3rd week. The industrial action to demand pay hikes has paralysed 6 out of the 7 fuel refineries in France, leading to fuel shortages exacerbated by panic-buying from drivers 🚗.

Video compilation sourced from social media.

Previous developments in France reported on this channel:

💠 TotalEnergies, proposed to bring forward annual wage 💶 talks, in response to union demands.

💠 Strike action & unplanned maintenance have taken offline more than 60% of France’s refining capacity – or 740,000 barrels per day (bpd) 🛢.

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

💠 200 protests 🔥 across France by trade unions in one day.

💠 Nuclear power group, EDF is rushing to get nuclear power stations 🏭 online. 26 of 56 offline.

🔹Aluminium (Al) prices on the London Metal Exchange (LME) corrected upwards yesterday after reports that the US is considering a ban on Russian 🇷🇺 aluminium.

🔹Benchmark Aluminium was up 3.3% at $2,309 a tonne. 📈 The US is considering raising tariffs on Russian Al to levels so punitive they would effectively ban Russian Al producer Rusal.

🔹Earlier 2022, the US 🇺🇸 held off sanctioning Russian Al, fearing it could disrupt global suppliers.

🔹Markets may have over-reacted as aluminium price gains are not sustainable due to lower demand, as Europe 🇪🇺 enters a recession & China's 🇨🇳 recent power rationing.

🔹Rusal, cautions that suspending its brands in the current low-stocks environment would create increased price & physical premium volatility.

Recently reported on this channel:

💠Europe has lost about half of its zinc and aluminum smelting capacity 🔥within the past year.

💠 Norwegian 🇳🇴 owned Norsk Hydro is planning to shutter a 175,000-ton annual capacity aluminum smelter in Slovakia.

Will the US/EU oil price cap plan on Russian oil, backfire?

🔹Russia's 🇷🇺 Deputy PM said after the OPEC+ decision that “the price cap is unacceptable to Russia.” President Putin has said Russia won’t sell oil 🛢 to any nation that participates in the price-cap plan.

🔹US 🇺🇸 President Biden accused OPEC member, the Kingdom of Saudi Arabia 🇸🇦 (KSA), of siding with Russia. The KSA has issued a statement of total rejection to what is said by Biden & other US officials.

🔹The US plans to re-evaluate ties with the KSA 🇸🇦. US lawmakers are putting priority on the NOPEC Bill. This bill can give the U.S. a pathway to sue OPEC nations for price-fixing and market manipulation.

Video: Clip from President Putin's speech at Russian Energy Week on Oct 12th.

Last reported on this channel:

💠 US 🇺🇸 - Saudi 🇸🇦relations under pressure after OPEC's oil production cut.

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

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

Russia - Saboteurs have been detained for attempting to blow up part of the TurkStream pipeline, which delivers Russian 🇷🇺 natural gas to Türkiye 🇹🇷.

🔹On September 22, the FSB of Russia announced the prevention of a terrorist attack 🔥 on the TurkStream pipeline.

🔹President Putin has proposed building a major gas hub in Türkiye 🇹🇷to handle supplies previously directed through the Nord Steam pipelines. Ankara could develop its gas infrastructure further to increase its re-export capacity. The hub could also become a platform for determining gas prices.

Recent developments of Russian 🇷🇺 energy pipelines reported on this channel:

💠 Yesterday's oil leak on the Druzhba pipeline in Poland 🇵🇱 that supplies Russian oil to Germany🇩🇪.

💠 Hungary 🇭🇺 & Serbia 🇷🇸 have agreed to build a connection to the Druzhba oil pipeline.

💠 NordStream 1 & 2 pipeline 🧨 sabotage video report.

💠 Sanctions on Russia 🇷🇺 prevent gas turbine maintenance for NS 1 & 2.

CBDC update:

🔹The BIS & the central banks of Israel🇮🇱, Norway🇳🇴 & Sweden🇸🇪 are launching Project Icebreaker, a joint exploration of how CBDCs can be used for international retail. The objective is to test the feasibility of interlinking different domestic CBDC systems.

🔹The BIS 🇨🇭, BIS Innovation Hub Hong Kong Centre🇭🇰, Hong Kong Monetary Authority🇭🇰, Bank of Thailand🇹🇭, PBOC🇨🇳 & the UAE 🇦🇪 Central Bank announced the successful completion of the first CBDC pilot involving four jurisdictions & real-value transactions.

🔹The U.S. 🇺🇸 Treasury will advise the federal gov't to press forward on work to issue a digital dollar, but CBDC will be approved only if in the “national interest,”.

Video of Jim Rickards on The Rich Dad Channel.

Last reported on this channel:

💠 Maajid Nawaz warns of CBDC's being a control 🔒 mechanism.

💠 Bank for International Settlements (BIS) 🇨🇭report on CBDC interoperability.

💠 Catherine Austin Fitts- CBDC's are a foundational building block of tyranny.

🔹Hungary 🇭🇺 has agreed with Russia's 🇷🇺 Gazprom to re-route gas transit to Hungary via the TurkStream pipeline (southern transport route). Under a 15-year deal signed last year, Hungary receives 3.5 bcm of gas per year via TurkStream -Turkey🇹🇷 -Bulgaria🇧🇬 - Serbia🇷🇸.

🔹2 weeks ago, Dutch 🇳🇱 authorities, to enforce sanctions, withdrew the export license of South Stream Transport which operates the TurkStream. They are re-applying for a new license.

🔹Hungary 🇭🇺 would not allow new 🇪🇺 sanctions against Russia in the energy sector. Hungary would not support the introduction of a price cap on Russian gas.

Last reported on this channel:

💠Saboteurs attempt to blow up 🧨 Turkstream Pipeline infrastructure.

💠 Oil leak on the Druzhba pipeline in Poland 🇵🇱 that supplies Russian oil to Germany🇩🇪.

💠 Hungary 🇭🇺 & Serbia 🇷🇸 have agreed to build a connection to the Druzhba oil pipeline.

💠 EU 🇪🇺 declares Hungary is no longer a democracy & suspends billions 💶 in EU funding.

🔹UN 🇺🇳 reps. plan to visit Moscow in hopes of extending agreements on the export of grain & food across the Black Sea, previously signed on July 22 in Türkiye 🇹🇷.

🔹The grain deal is unlikely to be extended - Russia's UN rep. Moscow may quit the grain deal if agreements to facilitate exports of Russian 🇷🇺 food products & fertilizers to Africa/SE Asia etc. aren’t implemented.

🔹The grain deal allows ships 🚢 into the Black Sea & no Russian warship activity near ports/ port routes.

🔹The grain deal hypocrisy appears by western countries, as Ukrainian 🇺🇦 grain is exported to Europe 🇪🇺not poor countries. (Before the deal, Russia was being blamed for starving poor countries from Black Sea grain access).

Background to deal reported here:

💠 Chairman of the African Union visits Russia & asked President Putin for help with solution to food 🌾 crisis in Africa.

💠 Grain deal signed with safe routes 🚢 made in Black Sea, after Ukraine mined 💣 the Black Sea. Previous deal was botched by Ukraine.

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

🔹The drought ☀️ caused a 100-boat clog last week. Low water levels & dredging shuttered barge traffic heading north and south on the Mississippi last week. At one point, more than 100 towboats and 2,000 barges 🚢 were stuck waiting. drier conditions are expected over the next several weeks. The river is slurping up water reserves right now.

🔹The cost of moving grain 🌾 via barge from St. Louis was 218% higher year over year during the week of Oct. 4. Shipments from Cincinnati and Louisville, Kentucky, popped by 196% over the same time period.

🔹Bean and other farm goods are piling up at farms up and down the Mississippi River as barges can't be fully loaded. Barges have reduced weight to improve the draft, which means less availability.

🔹A massive demonstration of 50,000 people took place in Chisinau🇲🇩, the capital of Moldova today.

🔹A few hours ago, policemen 👮‍♂️violently dismantled a tent gathering, in front of the parliament building and the presidential administration. The protesters chanted: "We do not give up", "Down with Maia Sandu.". The Police said that they recorded numerous violations.

🔹 Last weekend also, Up to 60,000 people demonstrators marched through the 🇲🇩 capital demanding the resignation of President Maia Sandu.

🔹Moldova’s underequipped and understaffed Anti-Corruption Prosecutor’s Office is struggling to file documents because it doesn’t have enough printing paper 📄.

Video compilation courtesy Telegram reports.

Recently reported on this channel:

💠 Last month, several thousand people protested in the Moldovan 🇲🇩 capital Chisinau due to high price increases 📈 for energy. The organizers said that many buses with protesters were not allowed into the capital by the police.

🔹A colder-than-average winter ⛄️ forecast & high energy prices will raise heating costs for U.S. consumers. US 🇺🇸 Henry Hub natural gas averages $6.40 per MMBtu, which is 36% higher than last winter’s average. Nearly half of all U.S. households heat primarily with natural gas.

🔹Working natural gas inventories by end of October are forecast to be 6% below the previous five-year average. U.S. natural gas storage injections usually take place from April through October.

🔹Average heating oil expenditures had already been higher in the U.S. as oil 🛢 use is concentrated in the colder Northeast, where 18% of households use it as their primary heating energy. Overall, just 4 percent of the U.S. heats with oil.

🔹GE plans to make major job cuts in its U.S. wind operations and will consider its other markets too as windfarms 🪫are proving to be a major expense. Continued supply chain disruption and the high cost of wind turbines are deterring companies from investing 📉 in wind energy.

🔹China 🇨🇳 told state-owned natural gas importers to halt LNG 🚢 reselling to Europe. Beijing looks to protect domestic gas supplies for the winter. They threw a lifeline to Europe amid its energy crisis by reselling unneeded LNG purchased from Russia.

🔹In the first 9 months of 2022, Russian LNG exports to Europe 🇪🇺 increased 1.5X. LNG is proving to be an effective tool for diversifying Russian🇷🇺 gas exports, primarily due to the lack of dependence on transiters & one final buyer.

Last reported on this channel:

💠Chinese 🇨🇳 companies that signed long-term contracts to buy U.S. 🇺🇸 LNG are selling the excess & making millions per cargo 🚢.

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

💠 Russia is selling LNG 🚢 from the Sakhalin-2 project at a 50% discount & the operating company, is still making a profit.

💠Malaysia - 🇲🇾 Petronas declares force majeure on contracted LNG deliveries to Japan 🇯🇵, due to leaking pipeline.

🔹Media blackout of multiple protests 🔥 called the " ‘Day of Justice / Jour De La Justice’ ", yesterday (Oct 16th) in Brussels, Belgium🇧🇪. No mainstream media coverage & no articles showing up in internet searches. One Youtuber managed to record a livestream.

🔹Protests are against skyrocketing 📈 electricity, natural gas, food prices & to draw attention to the sharp hike in the cost of living. Protesters are concerned that they might not be able to afford their electricity 💡& gas bills, which doubled over the last year. Protesters representing many other EU countries were in the protests also.

Video compilation courtesy Telegram and Twitter.

Previously reported on this channel:

💠 Last month massive protests by trade unions broke out across Belgium🇧🇪.

💠 Firewood 🪵 & wood pellet prices drastically increase across Belgium.

💠 High gas prices forces stainless steel 🏭 producer Aperam to shut down its production facility in Genk, Belgium 🇧🇪, along with other manufactures of fertilizer etc.

🔹Russia’s 🇷🇺 nuclear fuel industry remains conspicuously untouched by European 🇪🇺 sanctions. Shipments 🚢 of Russian nuclear fuel continue to Europe.

🔹Hungary 🇭🇺 & Bulgaria 🇧🇬 were the most vocal in opposing sanctions on Russian uranium. There are 18 Russian nuclear reactors 🏭 in Europe. The EU has a port access ban on Russian-flagged 🇷🇺🚢 vessels for the transport of nuclear fuel.

🔹Japan 🇯🇵 is now considering extending its 60 year limit on the operation of nuclear plants. Germany 🇩🇪 reverses closure plan for 2 nuclear reactors, uranium mining shares price increase.

Video: Recent Russia/Hungary nuclear power plants report.

Last reported nuclear dev. on this channel:

💠Russia's 🇷🇺 Rosatom & Hungary, 🇭🇺 discuss licenses for the Paks-2 nuclear power plant construction 🏗.

💠France's EDF is rushing to get nuclear power stations 🏭 online. 20 of 56 offline due to strikes & corrosion issues.

💠The French 🇫🇷 gov't to fully nationalize the EDF. which runs a 29 billion Euro loss.

The de-industrialisation of Germany - Part 1.

In Germany 🇩🇪, today, due to rising 📈 energy / raw material prices & supply chain bottlenecks:

🔹Textile supplier for vehicles 🚗, Borgers SE & Co. KGaA filed for bankruptcy after 156 yrs in business.

🔹One of the largest soap 🧴manufacturers in Europe, Kappus, declares bankruptcy, being in operation since 1848.

🔹Bodeta Süßwaren GmbH confectionery 🍬 founded in 1892, filed for bankruptcy.

🔹Construction 🪚🔨🪜 co. Wolff Hoch- und Ingenieurbau file for bankruptcy after 125 yrs due to bottlenecks in personnel & material.

🔹Bakery 🥐 🍞chain Thilmann Brot GmbH, founded in 1937, declares bankruptcy.

🔹Electricity blackout 🪫 fries computer servers at kitchen designer Einbauküchen Solutions GmbH. This forced the 60 yr old co. into bankruptcy.

Last reported on this channel:

💠 Steel 🏭 manufacturers shut down across Europe.

💠European ammonia fertilizer plants shut down due to lack of Russian 🇷🇺 natural gas.

🔹USA 🇺🇸- Biden admin. plans to release 10-15 million barrels of crude 🛢 from the Strategic Petroleum Reserve in a bid to suppress gasoline & diesel ⛽️ prices. 180 million barrels have been drained from the SPR since May.

🔹Accusations from top Biden admin. officials against the Saudi 🇸🇦 gov't result in OPEC+ member states, to publicly endorse the oil production cut agreed upon this month.

🔹US 🇺🇸 anti-trust legislation (NOPEC Bill) awaiting approvals. It can be used to point to Saudi 🇸🇦 Aramco as being collusive in price-fixing through adjusting output to manage oil prices.

💠 OPEC+ defends their role in 🛢 oil market stability at JMMC of the OPEC+ group HQ 🇦🇹.

💠 US/EU oil price cap plan on Russian 🇷🇺 oil can backfire.

💠 The US 🇺🇸 reviewing its relationship with Saudi Arabia.

💠 UAE's 🇦🇪 President Al Nahyan visits Russia, President Putin reaffirms OPEC+ decision not directed against anyone.

🔹Several dozen LNG 🚢 tankers are waiting near the Spanish 🇪🇸 coast for permission to unload their cargo. Only six connections for regasification are available at local gas terminals in Spain this week.

🔹Spain 🇪🇸 is home to 45% of EU’s 🇪🇺 LNG regasification capacity & storage is nearly full. It's lack of pipelines prevents it from supplying northern European countries.

🔹China's 🇨🇳 weak domestic LNG demand & high spot prices may come as a relief for Europe's LNG prices.

Last reported on this channel:

💠 China 🇨🇳 told state-owned natural gas importers to halt LNG 🚢 reselling to Europe.

💠 Chinese companies, buy U.S. 🇺🇸 LNG & sell the excess at profit 🚢.

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

💠 Russia is selling LNG 🚢 from the Sakhalin-2 project at a 50% discount, & is still making a profit.

💠 Malaysia - 🇲🇾 Petronas declares force majeure on contracted LNG deliveries to Japan 🇯🇵, due to leaking pipeline.