🔹India's 🇮🇳 External Affairs Minister, S. Jaishankar & diplomatic delegation completes their 2 day visit to Russia. He claims "The world is moving toward greater multipolarity, through steady and continuous rebalancing,..".

🔹Despite western sanctions, trade 🚢 turnover between Russia & India may total $30 bln by the end of 2022. Russia 🇷🇺 & India are working on the joint & efficient use of the Northern Sea Route & it's offshore hydrocarbon fields.

🔹Minister Jaishankar also said "We are, naturally, concerned over the trade imbalance, and I have raised with the Russian side how to address the impediments that stand in the way of greater Indian exports,".

🔹Both countries have agreed to negotiate the criteria and principles of reviewing potential expansion of BRICS. The parties also discussed the situation in Afghanistan 🇦🇫, Iran 🇮🇷, the Middle East, the Asia-Pacific Region and Ukraine 🇺🇦.

🔹American 🇺🇸 company Nvidia announced an alternative chip with a slower transfer rate (Nvidia A800 GPU) so it does not fall under US export restrictions to China 🇨🇳. The Nvidia A100 GPU (banned for export to China) has a faster transfer rate by 200 gigabytes per second.

🔹Germany 🇩🇪 plans to block the sale of Elmos' chip factory to Swedish🇸🇪 Silex ( subsidiary of Chinese 🇨🇳 group Sai Microelectronics), citing national security.

🔹Video: South Korea 🇰🇷 asks US to resolve uncertainties created by the US's 🇺🇸 chip export ban on China.

Semiconductor posts reported on this channel:

💠 The 🇺🇸 Biden admin plans further export controls to clamp down on China’s access to semiconductors.

💠TSMC 🇹🇼 complies with US regs. & suspended production of advanced silicon for China's Biren Tech.

💠 US bans exports 🚢 to China of equipment for 14nm chips.

💠South Korea 🇰🇷 attempts to assure China 🇨🇳 on supply chain amid US pressure.

💠 US 🇺🇸 share of semiconductor R&D has dropped drastically.

The de-industrialisation of Germany - Part 2.

🔹🇩🇪- Traditional bakery, Thilmann Brot GmbH, founded in 1937, Rhineland-Palatinate branch, has filed for bankruptcy. Cites high energy/raw material prices for operating ovens.

🔹🇩🇪 Department store chain Galeria Karstadt Kaufhof, with 131 branches, declare insolvency. Online retailer Buero.de eyes takeover. (Video)

🔹🇩🇪 Furniture co., Hülsta-Werke Hüls GmbH, after 82 years in operation is insolvent.

🔹🇦🇹 Austrian manufacturer of cable pulls, GA Actuation Systems GmbH, part of German 🇩🇪 holding co. Accursia Capital declares bankruptcy after loss of sales & inability to pay employee pensions.

Last reported on this channel:

💠 Co.'s operating for over 100 years shut down in Germany.

💠 BASF 🇩🇪, the world's largest chemical co. announces “permanent” downsizing in Europe.

💠 Steel manufacturers shut down across Europe.

💠Europe loses 📉 50% of its zinc & aluminum smelting capacity.

💠 Ammonia fertilizer & chemical 🏭 plants shut down across Europe.

🔹Is Brazil 🇧🇷 on the brink of a revolution?

🔹There have been a lack of news on the scale of protests during the past 9 days, over alleged election fraud. President Bolsonaro lost to Lula da Silva, by 50.9% to 49.1%. Millions of Brazilians are vocally supporting President Bolonsaro.

🔹Yesterday, Brazil’s 🇧🇷 Defence Ministry reported that they did not find any fraud or inconsistency in electronic ballot boxes or in the 2022 electoral process. However, the report warns that "it is not possible to say that the electronic voting system is free from the influence of a possible malicious code... & recommends a technical investigation.

🔹Brazil's Supreme Court 🏛 makes it clear that questioning the election is anti-democratic & violent protestors will be treated as criminals. The indigenous peoples of Brazil have been showing up at protests.

🔹Solidarity protests have even spread to 🇺🇸 New York. Some Brazilians use satire reporting to get their message out.

🔹Hungary 🇭🇺 infuriates EU 🇪🇺 for blocking €18 billion of aid to Ukraine. EU diplomats accuse Hungary of blackmail.

🔹Hungary denied it’s holding up the NATO entry bids of Finland 🇫🇮 & Sweden 🇸🇪 as part of its fight over billions of euros in EU aid.

🔹Germany’s 🇩🇪 ruling parties are urging Chancellor Scholz to “thoroughly” scrutinize Hungary’s rule-of-law reforms & only support releasing billions of withheld EU money if Budapest can prove it’s a democracy.

🔹EU countries can suspend €7.5 billion in EU funds for Hungary 🇭🇺 under a rule-of-law conditionality. The EU 🇪🇺 has been holding back Hungary’s access to €5.8 billion in coronavirus recovery funds.

Last reported on this channel:

💠 EU 🇪🇺 declares Hungary is no longer a democracy.

💠 Hungary 🇭🇺 would not support a price cap on Russian gas.

💠Hungary has agreed with 🇷🇺 Gazprom to re-route gas transit.

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

Video courtesy Newsmax

🔹🇩🇪 Germany's consumer prices, harmonised to compare with other European countries, were 11.6% higher year-on-year in October. On a non-harmonised basis, consumer price inflation was 10.4%, the highest 📈 since December 1951.

🔹Germany's Bundestag passes the Inflation Compensation Act, aimed at offsetting the effects of high inflation on income tax burden.

Previous posts on Germany's de-industrialisation:

💠 German co.'s operating for over 100 years shut down amidst a surge in bankruptcies.

💠 German utility Uniper, reported a 4.8 billion euros loss & faces nationalisation.

💠 Industrial producer prices up by 41.9% 📈 in the euro area & by 41.4% in the EU 🇪🇺compared with September 2021.

💠 BASF 🇩🇪, the world's largest chemical co. announces “permanent” downsizing in Europe.

💠 Steel manufacturers shut down across Europe.

💠Europe loses 📉 50% of its zinc & aluminum smelting capacity.

💠 Ammonia fertilizer & chemical 🏭 plants shut down across Europe.

🔹The Organization of Turkic States (OTS) established the Turkic Investment Fund, during the OTS Summit in Samarkand, Uzbekistan 🇺🇿. The Fund is aimed to mobilize the economic potential of OTS States to strengthen the trade & economic cooperation & to implement joint projects.

🔹Northern Cyprus has been granted an observer status with the OTS.

🔹Kazakhstan's 🇰🇿 President Tokayev, calls to further expand transit/export routes citing the successes of the Trans-Caspian International Transport Route running across Kazakhstan, Azerbaijan & Türkiye.

🔹Türkiye's 🇹🇷 President Erdoğan, calls for Turkic states to develop common security concept, in managing irregular migration.

🔹Uzbekistan's 🇺🇿 President Mirziyoyev expressed concern over the situation in Afghanistan 🇦🇫. Former Turkmenistan 🇹🇲president Berdymukhamedov, said Turkic states should move to address the humanitarian crisis in Afghanistan.

Video courtesy TRT World & promo from the OTS.

🔹An explosion rocked the busy shopping street of Istiklal Avenue in Turkish capital Istanbul, killing 6 people & injuring 53 others. The explosion occurred 3 hours ago (1620hrs local time Sun 13th Nov).

🔹The cause of the explosion has not yet been determined, although it was most likely caused by a suicide bomber. The nearby Casimbasa police station said all crews had gone to the scene of the explosion.

🔹Türkiye's 🇹🇷 President Erdoğan speaking before his departure to the G-20 summit in Indonesia, said the explosion was a "treacherous attack'' and its perpetrators would be punished.

🔹The Turkish Red Crescent said blood was being transferred to nearby hospitals to help treat the injured. The area, in the Beyoglu district of Turkey’s largest city, had been crowded as usual at the weekend with shoppers, tourists and families.

🔹Istiklal Street had already been hit in the past during a campaign of attacks in 2015-2016 that targeted Istanbul.

Video compilation courtesy various Telegram channels.

🔹Moldova 🇲🇩- 60,000 protestors marched though the capital Chisinau, today (Sunday 13th Nov) against the president & gov't.

🔹Retired military & veterans of the 🇲🇩 Ministry of Internal Affairs (in camouflage) were walking alongside the protestors guarding the event after recent police violence at previous protests.

Previous posts on this channel:

💠 October 30th, Stand-offs between Moldovan citizens & police grow violent amid protests over inflated 📈 prices for gas, electricity, water & other utilities.

💠 October 23rd, police 🚓 brutalities continued amid a breakout of protests in Moldova. 🇲🇩

💠 October 16th, 50,000 protestors gathered across Chisinau🇲🇩, the capital of Moldova. Weekend before 60,000 protested.

💠 Thousands protest high energy prices during September in Chisinau. State-backed gas distributor Moldovagaz failed to fulfil wholesale payments to its sole gas supplier, Russia's 🇷🇺 Gazprom.

Video courtesy NewsMaker

🔹The Association of South East Asian Nations (ASEAN) 🇧🇳 🇰🇭 🇮🇩 🇱🇦🇲🇾 🇲🇲 🇵🇭 🇸🇬 🇹🇭 🇻🇳 plus three (China 🇨🇳, Japan 🇯🇵 & South Korea 🇰🇷), completed the 25th ASEAN Plus Three (APT) Summit on 11-12 Nov, in Phnom Penh, Cambodia.

🔹Chinese Premier 🇨🇳Li Keqiang, said that at a time when global development faces unprecedented challenges such as rising unilateralism and protectionism, APT countries need to stay committed to promoting peace and prosperity in the region and beyond.

🔹Over the past decade, the Chinese side initiated more than 130 cooperative proposals or projects under the ASEAN Plus Three cooperation framework and most of them had been implemented.

🔹Premier Li Keqiang put forward a five-point proposal:

📌Keep the process of regional economic integration going
📌Maintain the stability of industrial and supply chains.
📌Improve crisis response capacity
📌Deepen cultural, and people-to-people exchanges
📌Work to enable sustainable development

Video courtesy CCTV News Agency

🔹The Philippines 🇵🇭 President Marcos Jr. reminded contracting parties of the Treaty of Amity and Cooperation in Southeast Asia (TAC) to do their part in finding resolutions to the South China Sea 🇨🇳 (SCS) dispute without resorting to conflict, during the 17th East Asia Summit in Phnom Penh, Cambodia 🇰🇭.

🔹Russia’s 🇷🇺 FM Lavrov was questioned by media after the summit. He said NATO is now claiming that they’ll play a leading role [in the Asia-Pacific region] & are already shifting the so-called defensive line to the SCS. They are promoting an 'Indo-Pacific Strategy' to contain China & Russia.

🔹Chinese 🇨🇳 Premier Li Keqiang said, "as the call for peace and development among people in the region is growing stronger, countries in the region need to uphold mutual respect & deepen win-win cooperation".

🔹Premier Li Keqiang reiterated that countries need to maintain strategic dialogue, conduct constructive interactions, pursue mutually beneficial cooperation & tackle risks & challenges together.

🔹German 🇩🇪 state-controlled SEFE's subsidiary canceled 17 LNG shipments to GAIL 🇮🇳 India since May which is a breach of contractual agreements by Germany. This has resulted in a diplomatic spat between Germany & India.

🔹Germany seized & nationalized Russia's 🇷🇺 Gazprom Germania back in April & took control of SEFE subsidiary (Safe Energy For Europe). As a result, Russia imposed sanctions via prevention of sales of LNG 🚢 cargo to their previously owned Gazprom Germania.

🔹SEFE’s Singaporean 🇸🇬 subsidiary said it can’t fulfill its long-term LNG contract with GAIL & is paying a small penalty fee of 20% the value of the contractual shipment, leaving a big gap for India's GAIL to cover to get LNG replacement.

India's 🇮🇳 GAIL declined SEFE's penalty fee for cancelled LNG cargoes. GAIL is consulting lawyers about arbitration.

🔹GAIL has a contract to receive 2.5 million tons of LNG 🚢 a year until 2041 signed with the previously Gazprom Germania.

Video: Alexander at The Duran April 5th 2022.

🔹 Cambodian 🇰🇭 PM Hun Sen said, the 40th & 41st ASEAN Summits & Related Summits in Cambodia achieved fruitful results for greater regional cooperation.

🔹 A total of 70 outcome documents and declarations covering the three pillars of ASEAN 🇧🇳 🇰🇭 🇮🇩 🇱🇦🇲🇾 🇲🇲 🇵🇭 🇸🇬 🇹🇭 🇻🇳 communities were adopted and noted at the summits, with various cooperation frameworks with dialogue partners endorsed.

🔹 Leaders who attended the meetings all appreciated Cambodia’s efforts of the ASEAN chair’s Special Envoy on Myanmar in seeking a solution to the Myanmar crisis through the implementation of ASEAN’s five-point consensus.

🔹 On the South China Sea 🇨🇳 dispute PM Hun Sen said that the meeting had noted the importance of the promotion of peace, security, safety, stability and freedom of navigation and flight over the sea. “We are optimistic and happy with the progress on the ongoing negotiations on the South China Sea.

Video: US President confuses Cambodia with Colombia.

🔹Some EU 🇪🇺 leaders are insisting that the EU impose a price cap on all natural gas imports. 🇺🇸 U.S. LNG has been more expensive than pipeline gas coming from Russia 🇷🇺 in real terms.

🔹Four EU 🇧🇪🇬🇷🇮🇹🇵🇱countries are threatening to derail a package of energy measures over the natural gas price cap.

🔹Pakistan's 🇵🇰 gas supplies will be very limited this winter as Europe outbids Asian customers for LNG. Pakistan left unable to afford bids for LNG.

🔹Trinidad & Tobago 🇹🇹 asked the US to authorize Venezuelan 🇻🇪 gas imports. Under U.S. sanctions, co.s & gov'ts need to request authorization from the U.S. 🇺🇸 to do business with Venezuela's PDVSA.

Video: Qatar's Energy Minister says EU's price caps are hypocritical.

Last reported on this channel.

💠 Norway's 🇳🇴 Equinor CEO: "Any price cap is not really solving the fundamental problems".

💠 EU 🇪🇺 plans to use joint purchasing power as leverage in gas negotiations.

💠 Hungary 🇭🇺 would not support a price cap on Russian gas.

🔹The Dec. 5th G7 price cap on Russian 🇷🇺 oil with EU 🇪🇺/ UK 🇬🇧 bans on shipping /insurance for Russian crude is facing obstacles. Refineries scramble to secure term contracts, as OPEC+ has already agreed to impose a major production cut.

🔹India 🇮🇳 continues to have no interest in joining the US-led initiative as it gets a steep discount on oil from Russia & wants to maintain the relationship with a long-time strategic partner.

🔹The G7 plans are likely to send oil prices higher (despite US 🇺🇸 Treasury Secretary claiming the opposite) & reduce tanker availability.

🔹Washington is pressuring New Delhi to comply with the price cap, since it is importing from India more vacuum gasoil, which is mostly used at refineries 🏭 to produce other products such as gasoline & diesel.

🔹India joins a list of countries – Saudi Arabia 🇸🇦, Serbia 🇷🇸, and Turkey 🇹🇷– that are causing problems for Washington.

Video: India's Petroleum Minister schools CNN journalist on oil price cap.

🔹The Russian 🇷🇺 gov't authorized the transfer of 20% participation interest in the new Sakhalin-1 operator to India’s 🇮🇳 ONGC Videsh Limited & 30% to Japan’s 🇯🇵 Sakhalin Oil and Gas Development Co. Ltd. (Sodeco).

🔹Sakhalin Energy LLC sold three LNG 🚢 cargoes for loading in December in the last week at roughly current market prices, with one at a premium. While some long-time Asian customers, such as Japan and South Korea 🇰🇷, stopped buying additional spot shipments from Russia earlier this year, China 🇨🇳 has boosted purchases.

Last reported on this channel:

💠 G-7 member Japan 🇯🇵, decided to officially backtrack on sanctions, & remain involved in the Sakhalin-1 oil & gas project in Russia. 🇷🇺

💠 India’s 🇮🇳 Oil & Natural Gas Corp. (ONGC) is considering increasing its stake in the Sakhalin-1 project as the US's Exxon Mobil exits.

💠 Russia’s 🇷🇺 Sakhalin-1 oil & gas project, will be transferred to a local entity. The same was done for the Sakhalin- 2 project earlier.

🔹Poland 🇵🇱- Warsaw is set to confiscate the assets of Russian energy major Gazprom. The move will target Gazprom's 48% stake in EuroPolGaz, which owns the Polish section of the Yamal-Europe pipeline that carried Russian gas to the EU. Polish PGNiG (currently Orlen Group) also owns a 48% stake in EuroPolGaz, and Gas-Trading SA the remaining 4%.

🔹The Yamal-Europe gas pipeline passes through Russia 🇷🇺, Belarus 🇧🇾, Poland 🇵🇱 & Germany 🇩🇪, and used to carry nearly half of Gazprom’s westbound gas deliveries.

🔹Poland’s sanctions against the Russian gas producer have deprived the company of its shareholder status in EuroPolGaz since April, blocking its voting rights and the ability to repatriate dividends.

🔹Polish 🇵🇱 media report use EU confiscation of Gazprom assets as a justification: The European Commission (EC) via Germany, agreed to takeover Russia's Gazprom Germania (its current name is SEFE GmbH). The EC 🇪🇺 claims this decision is intended to "secure gas supplies to the German economy.

🔹Western media report two 'Russian rockets' landed near the border with Ukraine in 🇵🇱 Poland, in the village of Przewodów with a population of 413, as of 2021.

🔹Sadly, 2 people have been killed. Warsaw 🇵🇱 is understood to be considering invoking Article 4, which calls for Allies to consult together.

🔹Polish 🇵🇱 media lublin112.pl report:
"However, as our reporter has determined, it cannot be said for now that they are Russian rockets. Gov't spokesperson Piotr Müller also called for not to publish unconfirmed information in connection with the situation. The Pentagon also assures that there is no information yet that would confirm reports of Russian 🇷🇺 rockets that fell into Poland."

🔹Open source intel compare the debris found at the site & observed the resemblance of parts to the S-300 anti-aircraft missile, possibly fired by Ukrainian air defense systems, located in Kamianka-Bugskaya, 🇺🇦 Lviv region.

Video: US 🇺🇸 Army Colonel (retired) Douglas Macgregor recently on Poland and NATO.

🔹Oil supply via a section of the Druzhba 🛢 pipeline has been temporarily suspended by Ukraine 🇺🇦. Russia's Transneft has been notified by Ukraine.

🔹Slovakia's Transpetrol confirmed, citing "technical reasons on the Ukrainian side". Ukraine told Hungary's MOL a power station that provides electricity for a pump station, is offline due to Russian missile strikes.

Last reported on this channel:

💠 Slovakia’s 🇸🇰 Slovnaft and Hungary’s 🇭🇺 MOL paid Ukraine the August transit fees for the Ukrainian section of the Druzhba. The payment Russia's 🇷🇺 Transneft had made to 🇺🇦 Ukrtransnafta for the transit fees didn’t process.

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

💠 Slovakia 🇸🇰 & Hungary 🇭🇺 warn, that sanctions on Russia can negatively affect oil flow through the Druzhba pipeline. Later, granted exemptions by EU.

💠 PERN, the operator of the Druzhba oil pipeline (across Poland 🇵🇱) reported a leak on Oct 12th, switching off oil to Germany.

🔹USA 🇺🇸 - Former US President Donald Trump announces that he is running for president in the 2024 elections.

🔹In his speech he cites the dire economic situation of the US, drug trafficking across the US southern borders and escalation of war. He mentions that North Korea, China and Russia had respect for the US during his presidency.

🔹He claims that the US has lost respect on the world stage. He reminded the crowd of his admin's successes in fighting the Islamic State terrorists, that there were no terrorist attacks on the US during his tenure.

🔹He says despite losing the Senate in the midterms all hope is not lost, Congress is Republican controlled.

🔹Australia 🇦🇺 - Logistics / Supply Chain nightmare. Empty shelves and high prices set to get worse following a train derailment 🚂🚋🚋🚋 & flooding that has essentially cut Australia’s rail network in half.

🔹The main Melbourne-Adelaide train line is now cut off following an enormous train crash near Inverleigh (Geelong area), after heavy rain had undermined a piece of track. No one was injured.

🔹Workers have started clearing the wreckage of the train derailment amid a union call for Victoria's rail safety rules to be urgently assessed. "Rail workers are increasing concerned that Australia's 🇦🇺 rail safety regime is no longer fit for purpose and not enough is being done to ensure that tracks are safe,"

🔹The train line that runs from Sydney to Adelaide is currently cut off due to flooding ⛈ at Condobolin cutting the Broken Hill-Parkes line. The Lachlan River in Condobolin has risen to 7.36m, just below the 1952 record of 7.37m.