❗️President Putin – about the accusations that 🇷🇺 Russia "does not allow the export of Ukrainian 🇺🇦 grain": This is a bluff! We do not prevent the export of Ukrainian grain. It can be exported through ports that are under the control of Ukraine. But we didn't mine the approaches to the ⚓️ ports! Ukraine mined them. I have already said many times: let them clear mines and let the grain ships go out. We guarantee their passage without any problems.

📌 He mentioned that, Ukrainian grain can be safely🚢 exported through Belarus 🇧🇾 if the EU/US sanctions against Belarus are lifted. Belarus and Ukraine share the same rail size and there is an existing better trade route to Europe 🇪🇺 via the Baltic sea than the Black sea.

⛽️ Diesel prices on international markets are moving faster than crude oil. The issue in the market is not just the loss of Russian 🇷🇺 crude supplies but a loss of refining capacity worldwide. This is aggravated by the effective loss of some Russian refining capacity and its output as a result of sanctions.

The US 🇺🇸 administration still doesn’t really have “tools” that would cut gasoline prices substantially. Global supply is constrained because Europe is now sourcing growing volumes of seaborne non-Russian crude, global refinery capacity has shrunk by a few million bpd since COVID, and fuel inventories in the U.S. are at multi-year lows.

UK 🇬🇧 fuel prices hit record.

Russian diesel exports to 🇪🇺 Europe declined by 8% in May to lowest since October 2020.

Natural gas🔥up almost 10% today!
LNG production in Qatar 🇶🇦 has fallen this year. Qatar exported less than 35 million tons of LNG from January to May—a loss of 1 million tons from the same period in 2021.

U.S. exports 🇺🇸 of liquefied natural gas remained close to record levels last month, at 7.29 million tons, or the second-highest since records of such exports began.

Switzerland’s 🇨🇭power supply remains uncertain for next winter. The higher power prices have been driven by the surge in natural gas, coal, and carbon prices.

The sanctions imposed by Russia against Gazprom 🇩🇪 Germania, could cost German gas customers and taxpayers an additional 5 billion euro ($5.4 billion) each year to purchase replacement gas.

Chairman of the African Union and Senegal's President Macky Sall has warned Russian President Vladimir Putin that African countries are suffering from surging food prices.
The talks between Putin and Sall in Sochi, Russia, last Friday was focused on how to get stuck grain supplies moving again.

Today- Russian government plans to allow ships carrying grain supplies to leave the port of Odessa in Ukraine. The Russian leadership has agreed with Kyiv and Ankara on a scheme to release grain shipments from Odessa. "In the territorial waters of the neighboring country, Turkish military forces will take over the demining (mines placed by Ukrainian forces) and they will also escort the ships as far as neutral waters,". Russian warships would then escort the vessels carrying grain to the Bosporus.

Update to previous post:
Ukraine 🇺🇦 hasn’t participated 'directly' in the talks, according to an official there.
Ukrainian diplomat claims Putin cannot be trusted.
“By commenting in advance on reaching the deal, Russia 🇷🇺 is seeking to shift responsibility to Ukraine” for disrupting supplies, Taras Kachka, Ukraine’s Deputy Economy Minister, said in a text message. “But the fact remains that the food 🌾 crisis has been artificially created by Russia and Russia alone.”
Russia is also demanding the ability to inspect ships 🚢 going to Ukraine for weapons, a condition Kyiv has resisted.

Part II to Europe's rising social credit system.

The Dutch 🇳🇱 government intends to ban new fossil fuel boilers as of 2026, while introducing the mandatory use of heat pumps or connections to heat networks.

Created by a Polish startup 🇵🇱 called Walletmor. Walletmor’s implant allows a user to pay at any terminal that accepts wireless payments by placing her hand on device.

A major new survey by Thales shows that two out of three 🇪🇺 Europeans citizens are looking forward to the arrival of an EU-backed Digital ID Wallet for storing their ID card, driving licence and other official documents and signed attestations on a smartphone. By 2023, every EU member state must make a Digital Identity Wallet (EDIW) available to citizens and businesses.

Statistics Norway (SSB) 🇳🇴 a state-owned entity, has ordered Norway's major supermarket chains to share all their receipt data with the agency. Payment processor Nets said they share concern “about the collection and compilation of data that may be problematic and intrusive for the individual citizen.”

MasterCard 💳 is currently testing a technology that will only require you to just show your face at checkout. This new Biometric Checkout Program will allow any shopper to scan their face at checkout.

Italy 🇮🇹 is all set to become the first European country to implement a rewards-based program for citizens. It is meant to have an impact on people’s reactions to climate change. The residents will be assessed based on their level of compliance. The city administration of Bologna, Italy, is piloting the program in autumn of 2022.

Oil prices 🛢 steady for WTI @ $121 & Brent @ $123.
UAE 🇦🇪 Energy Minister warns of oil prices at unseen levels if Russian oil is taken off the market. Oil prices are far from the peak as China 🇨🇳 is now resuming normal operations.

Rising costs and sanctions on Russia 🇷🇺 have lowered the profitability of oil exports for Kazakhstan’s 🇰🇿 state oil and gas firm KazMunayGas, which has been forced to accept discounts on its crude being carried via the Russian pipeline network.

Ukraine 🇺🇦 is strategizing on how to increase the country’s electricity 💡exports from nuclear energy to boost foreign exchange earnings and make up for halting coal, natural gas and oil exports. Ukraine produces natural gas, crude oil and coal but domestic demand exceeds supply by approximately 35%.

Record UK 🇬🇧 gasoline prices see biggest daily surge in 17 years.

US 🇺🇸 gasoline prices have broken record after record despite crude prices not reaching all-time highs. The disconnect has been fueled by ultra-tight refining capacity. An increase in demand from China 🇨🇳 and the imminent start of the US driving season is only being countered by the gradual return of additional refining capacity. The four-week average for gasoline demand rose to 9 million barrels a day for the first time this year

EU Parliament 🇪🇺 voted to ban the sale of new combustion engine cars by 2035, 🚗 to be approved by the European Council.

Brazil - 🇧🇷 The glut of fertilizers piling up at the biggest Brazilian ports signals that the price of the nutrients has to drop further before farmers start buying. Fertilizer prices have eased modestly from all time highs. In Paranagua, private warehouses reached their maximum storage capacity of 3.5 million tons. the agriculture-heavy country and food-source for half the globe, imports nearly 85% of its fertilizer and Russia 🇷🇺 is the main origin.

During the first five months of 2022, Brazil has imported 16.5% more fertilizers compared to the same period in 2021. Importers front-loaded their fertilizer purchases earlier this year when it became apparent that Russia might invade Ukraine.

The U.S. military 🇺🇸 depends almost completely on China 🇨🇳 for the hard to mine 'metalloid element' antimony. Yesterday, the US House Armed Services Committee released draft legislation which would require a briefing on the antimony supply & a five-year outlook. The U.S. has no domestic mine ⛏. Antimony is used to produce night vision goggles, armor-piercing 🔫 bullets, explosives🧨 and nuclear weapons💣.

🇨🇳 China sits on reserves of over 145,000 tonnes. In 2nd is Canada 🇨🇦 with a mere 7,000 metric tonnes. Russia 🇷🇺 sits in 3rd with 6,500 metric tonnes.

Research continue into antimony's potential use in next-gen semiconductor processors. Antimony ingots (min. 99.65%) fob China presently trades at $13,000 USD/mt.

Antimony compounds are also used in the production of lead-acid battery 🔋plates, cable sheathing, solder, flame 🔥retardants, infrared detectors, computer 💻 and television 🖥 screen, semiconductors and microelectronics.

Climate change carbon credit shenanigans continue on hyperdrive. More taxation incoming in the midst of inflation. CBDC's will be the tool to enforce this.

❌ Australia's 🇦🇺NSW government will enter the booming carbon offset market with an ambitious new scheme inviting corporations to invest in the state’s conservation initiatives as a means to offset carbon emissions.

❌ Canada🇨🇦 launched a credit system for greenhouse gas offsets, with a set of rules stipulating how projects can generate tradeable credits by capturing gas from landfills.

❌ New Zealand 🇳🇿 released a draft plan to put a price on agricultural emissions in a bid to tackle greenhouse gases from belching sheep and cattle.

❌ UK - 🇬🇧 A consultation for a global standard to assess companies' claims about progress towards internal climate targets and their use of carbon offset credits is launched.
A mask that fits around the face of cattle and cuts methane emissions from their burps has won a £50,000 (€59,502) award backed by the British royal, Prince Charles.

❌USA, Los Angeles 🇺🇸 - 2019's ordinance for an all-out ban on gas stoves in new construction of buildings (both residential and commercial) continues through 2023.

Food Security update:
Drought in California, USA- Farmers face water restrictions, as 75% of water from Lake Mead goes to agriculture. Over a 1/3 of America's vegetables & 2/3 of its fruits and nuts are grown in California. 🇺🇸 Farmers land lie idle because they can't get enough water.

German 🇩🇪 Farmers’ Association warns of further food price hikes, citing energy costs as a major factor. Australia 🇦🇺 - Food processors warn high natural gas prices may shut them down & see food prices rise further.

The EU 🇪🇺 is expected to produce almost 5% less wheat this year compared with 2021 due to dry weather. France's 🇫🇷 (4th biggest wheat exporter) agricultural lands, had suffered severe storms, that damaged wheat fields earlier in the year.

UN blames Russia 🇷🇺 for future food catastrophe. (No mention of Central Banks QE/debt & low interest rates that caused inflation, covid lockdown policies that destroyed the supply chain, sanctions on Russia and Belarus that cut-off grains, energy & fertilizers to the world.)

Talks between Türkiye 🇹🇷 and Russia 🇷🇺 aimed at providing safe passage for Ukraine's 🇺🇦 harvest ended in failure. Ukraine's officials cite 'security' issues as reason for not agreeing to any conditions. No details was given on what is specifically meant by 'security'.
Russia's FM stressed that if Kiev is now ready to clear the shoreline of 💣 mines, Russia would be happy to cooperate and is even ready to provide written guarantees.

The Russian government planned to allow ships carrying grain 🌾 supplies to leave the port ⚓️ of Odessa in Ukraine. Turkish military forces would have taken over the demining (mines placed by Ukrainian forces) and they will also escort the ships 🚢 as far as neutral waters,". Russian warships would then escort the vessels carrying grain to the Bosporus. Ukraine accuses Russia of placing the mines. Turkey had issued warnings to ships over the mines.

Avian influenza (bird flu), or H5N1, is the suspected as cause of death for hundreds of northern gannet 🌊 seabirds in New Brunswick, 🇨🇦 Canada. Same reports of seabirds found dead coming from Scotland 🏴󠁧󠁢󠁳󠁣󠁴󠁿.

Polk County, Oregon, USA 🇺🇸- Reports of bird flu in backyard flock of 🦆 duck and geese. USDA advises to keep domesticated backyard birds separated from wild birds. 🤔 Nearly 40 million birds have been culled/died in 36 states. Iowa hasn’t seen a new avian flu case 🐓 in more than a month. Cases in US winding down, similar to 2015 outbreak (Photo) Recovery will take some time as producers get the go-ahead to replenish their flocks.

Top US 🇺🇸 food processor Hormel, CEO warns "large supply gaps" for Jennie-O turkey 🦃 brand products due to bird-flu.

📌 Freeport LNG, operator of one of the largest US 🇺🇸 export plants producing liquefied natural gas (LNG), will shut for at least three weeks after Wednesday's explosion 🔥 at its Texas Gulf coast facility, raising the risk of gas shortages in Europe. The plant, which provides about 20% of US LNG processing, announced the shutdown after appraising damage to the massive facility.

📌 U.S. natural gas futures slid about 1% yesterday (@ $8.85/mmBTU level) on forecasts for less demand this week due in part to the shutdown at Freeport LNG, which freed up more fuel for utilities to inject into storage. Cooler weather from thunderstorms ⛈ also helped prevent peak power 🔋 demand from natural gas generators in Texas.

❗️Consumer prices in Denmark 🇩🇰 in May were 7.4% higher than a year earlier, the highest 12-month inflation since 1983. Consumer confidence drops 📉 to the lowest level since the 2008 financial crisis. (Photo)
❗️Europe could be forced to start rationing energy 🔋 this winter, starting with industrial uses of natural gas, especially if the winter ☃️ is cold and China’s 🇨🇳 economy rebounds, IEA director at energy conference in Denmark.
❗️Nine EU 🇪🇺 member nations (including Denmark) warned the bloc against overstepping its authority when it offers a new plan to protect the bloc’s supply chain during crises.
❗️Denmark is willing to write off debt owed by loss-making airline SAS ✈️ and inject more capital provided private investors also contribute.

❌ Utah, USA 🇺🇸 is experiencing unprecedented drought. ☀️Farmers will have to cut back on available water & the number of crops/acres to plant.
Southern California is facing a potentially treacherous wildfire season due to drought with low vegetation moisture levels.

❌ Growers in California's Central Valley 🚜 are increasingly looking to fallow fields or uproot orchards and vineyards for lack of irrigation. Air regulators are encouraging farmers to grind up forsaken crops in wood chippers and spread them as mulch, 🍂 and not burn it.

❌Glen Canyon Dam forms the massive reservoir of Lake Powell💧 (Colorado River) operating at 60 percent of its hydroelectric capacity. 🔋Hydropower generation will likely shut down when Lake Powell’s elevation drops below 3,490 feet. Currently the lake is at 3,534 feet. For the first time since Lake Mead was filling in the 1930s its water storage capacity🚰 is now below 30%.

❗️Alert 🚛 Truckers/Supply Chain observers! Developing case for shortage of Diesel Exhaust Fluid (DEF), ⛽️ the emissions control liquid required by modern diesel engines. It is injected into the exhaust stream to remove harmful nitrogen oxide emissions. DEF is a urea-based solution. Sanctions on the world’s #1 urea exporter 🇷🇺 Russia, and China’s 🇨🇳 restrictions on urea exports 🚢 has contributed to supply chain issues.

❗️USA’s Union Pacific Rail 🚂 has implemented load restrictions on transportation of DEF/fuels, and also on major US nitrogen fertilizer company CF Industries (a supplier of urea to DEF producers). Post 2010, trucks in the US are fitted with a DEF low level sensor which will trigger a low-speed limit on the engine until DEF is refilled.

(Video)-Pilot Flying J (North American🇺🇸🇨🇦 chain of truck stops) CEO testified on the DEF situation before the Surface Transportation Board on April 27 2022.

Update on disruptions to US 🇺🇸 food security over the past week:
🔥 Today- Fire broke out at food processing plant in Portage County, Wisconsin. Crews from three counties responded. Festive Foods makes frozen pizzas and appetizers.

💰 Meat-packing giant Smithfield Foods said it will close its only California plant next year, citing the escalating cost of doing business in the state. 1,800 employees will receive severance and benefits. The Vernon plant slaughters pigs and packages products such as ham and bacon.

🔥 Firefighters put our small fire at Purina Feed Mill in Tangipahoa, Arcola, Louisiana. (Livestock and pet food processing)

🔥 A small fire occurred at the JBS meat packing plant in Green Bay, Wisconsin. $30,000 in damages reported.

❌ Teamsters Warehouse Division and several Teamster locals walk off the job at foodservice distribution centers throughout the East Coast because of unresolved labor contract negotiations with US Foods. This could result in a strike that may disrupt the flow of food products to tens of thousands of restaurants.

🚰 Responding to California’s extreme drought, state water regulators have ordered many farmers, agricultural water districts and cities to stop diverting water from rivers and streams.

📌 Annual inflation in Germany 🇩🇪 accelerated to 7.9% in May, nearing a 50 year high. Natural gas prices have increased by 55.2% compared to May 2021.

📌 Gas flows via the Nord Stream 1 into Germany fell today. Gazprom has curbed 📉 supplies via the Nord Stream 1 down 67 million cubic metres per day. Sanctions make it impossible for equipment supplier Siemens Energy to return a turbine being maintained in Canada 🇨🇦which is causing a delay.

📌 Germany 🇩🇪 could lend up to $10.4 billion 💶 (10 billion euro) to bail out a former unit of Russia’s 🇷🇺 Gazprom, which the German government expropriated earlier this year.🤷‍♂️

📌 Germany paid Russia 🇷🇺 more than $12.5 billion for fossil fuels during the past 3 months. Germany was Moscow's biggest client for pipeline gas.

📌 Germany 🇩🇪 is struggling to find a way to wrest control of a Russian-owned PCK refinery in Schwedt, majority-owned by Russian oil 🛢giant Rosneft, that supplies 90% of Berlin's fuel and has received all its crude from Russia via the Druzhba pipeline.

👉 The US 🇺🇸 Government is pushing legislators to support a US$4.3 billion plan to reduce the nation’s reliance on enriched uranium imports from Russia by promoting direct purchases from domestic producers. 🏭 The proposal would see the government act as a guaranteed buyer of domestic enriched uranium production.

👉 In 2020, Russia 🇷🇺 accounted for 16.5% of the uranium imported into the US, while Uzbekistan 🇺🇿 and Kazakhstan 🇰🇿 accounted for 8% and 22% respectively. In the same period, Russia supplied approximately 23% of the enriched uranium needed to power US commercial reactors.

👉 Two European 🇪🇺 Parliament committees today supported an attempt to stop the EU labelling gas and nuclear energy as climate-friendly investments.

👉 Operators of mines ⛏ in North America, Australia and Africa say they are preparing to restart old sites or stalled projects, encouraged by uranium prices hitting their highest levels since the 2011 Fukushima disaster in 🇯🇵 Japan.