The World Blog by humble servant.

The volume of Russian oil imports by the United States has increased by 43% from March 19 to 25 compared to the previous week, according to a new report by the US Energy Information Administration (EIA). Data showed the US imported up to 100,000 barrels of Russian crude per day. Imports had been suspended during the week of February 19 to February 25. However, in early March, the weekly supply of Russian oil reached its maximum value in 2022, amounting to 148,000 barrels per day. The ramp up comes despite US President Joe Biden’s signing of an executive order on March 8, banning energy imports from Russia and new investment in the Russian energy sector. The US Treasury has set a deadline for the completion of transactions for the import of oil, oil products, LNG, and coal from Russia into the country until April 22. READ MORE: Wall Street bank raises US economy alarm In 2021, Russian oil supplies to the United States more than doubled compared to 2020, reaching 72.608 million barre...

The Austrian government has declared a stage-one alert regarding the supply of natural gas, shortly after Germany did the same on Wednesday. Vienna made the move fearing shortages should Russia insist on payments in rubles, rather than the sanctioned dollars or euros. The stage-one alert means there are “concrete and reliable indications that the gas supply could deteriorate,” Austria’s Climate Ministry announced, adding that it will be “monitoring” the situation. The country’s reserve tanks currently stand at 13%, which is about average for the season, local media reported. “Everything will be done to ensure the gas supply for Austria’s households and businesses,” Chancellor Karl Nehammer said on Wednesday. If disruptions happen, businesses will be encouraged to seek out alternatives, while gas rationing won’t happen until stage three, the government said. Vienna’s declaration comes hours after Berlin declared the identical stage-one emergency, fearing a possible disruption of nat...

Documents and other evidence from US-funded laboratories in Ukraine suggest that Kiev was planning to use drones to deploy pathogens against the Donbass, as well as Russia itself, Moscow claimed on Wednesday. The Defense Ministry also alleged that it has identified specific US officials involved in the development of bioweapons in the East European country. No direct evidence was provided to back up the assertion. Of particular interest to Russian investigators are “documents testifying to the plans of the Kiev regime to use unmanned aerial vehicles capable of carrying and spraying deadly substances,” military spokesman Major General Igor Konashenkov outlined during a briefing. Facts in the possession of the Russian military “prove that the Kiev regime was seriously considering the possibility of using biological weapons against the population of the Donbass and the Russian Federation,” Konashenkov added. Russia has also identified “specific officials who took part in the creation...

Russian President Vladimir Putin has passed an executive order banning the purchase of foreign software for use in critical infrastructure projects, in an apparent bid to make the country less vulnerable to further Western sanctions and potential cyberattacks. Effective Thursday, the order allows for the purchase of foreign software for critical infrastructure purposes only if permitted by “a federal executive body duly authorized by the Government of the Russian Federation.” Additionally, any government body or customer must phase out the use of foreign software on their sensitive systems by no later than the start of 2025. Regulators were ordered to release requirements for software that will be used in critical infrastructure within a month, along with the rules for coordinating the purchase of foreign software and related services for use on sensitive sites. Putin’s executive order also seeks to prioritize the use of domestic radio, electronic and telecom-related tech over fore...

Supply disruptions from Russia and Ukraine, which account for 30% of the world’s wheat exports and 20% of corn exports, have been driving up global food prices. In Poland, bread costs may quadruple by the end of this year, according to the head of the opposition Civic Platform party, former Prime Minister Donald Tusk. Talking on the Polsat News radio station on Wednesday, he raised concerns that the cheapest bread in the country may cost 10 zlotys (about $2.40) by the end of this year. Currently, the price of an ordinary bread loaf weighing 0.5 kg in Poland stands at around 2.2-2.6 zlotys. Grain deficit looming for EU – diplomatREAD MORE: Grain deficit looming for EU – diplomat Tusk said that in order to avoid such a development of events, the government should organize support for Polish agricultural producers. “The fate of all Polish families to a large extent this year depends on how you manage to help the Polish farmers,” he said. European farmers have been staging mass protes...

Russian President Vladimir Putin and German Chancellor Olaf Scholz spoke by phone on Wednesday to discuss Moscow's demand that Berlin pay for Russian gas with rubles, rather than in euros or dollars. According to the German version of events, Putin agreed that payments would continue for the moment in either of the two Western currencies, with the Kremlin stating that these payments would then be converted into the Russian currency. Moscow claimed that Putin explained to Scholz that his government is now demanding payment in rubles “due to the fact that, in violation of international law, the foreign exchange reserves of the Bank of Russia were frozen by the EU member states.” However, Putin told Scholz that the switchover would not result in less advantageous contract conditions for German importers. Germany relies on Russia for more than half of its gas supply, and for a third of its imported oil. Leaders in Berlin have been less enthusiastic about sanctioning Russian energy ...

The EU must speed up the transition to green energy in order to properly punish Russia for its military attack against Ukraine, President Volodymyr Zelensky told the Danish Parliament on Tuesday. He claimed that Moscow was able to launch the assault on his country thanks to oil exports revenues. Zelensky addressed Danish lawmakers by video-link, in which he claimed that the damage done to his nation by Russia was already worse than that caused by Nazi Germany during World War II, while urging them to increase the pressure on Moscow. He didn't provide any evidence to back up his assertion and it's worth noting that around 7 million Ukrainians died in that conflict. “Sanctions against Russia must be ramped up. Constantly. You need to reject Russian oil, block trade with the Russian Federation, close ports to Russian ships,” he said. He added that the Russian attack serves as another argument for “speeding up [the] ‘green’ transformation on the continent,” arguing that the “c...

Russia claimed on Wednesday that Ukrainian fighters have been using a synagogue to secretly store weapons and ammunition. Kiev has repeatedly accused Moscow of striking civilian targets, while Russia says it is only hitting sites used by the military. Major General Igor Konashenkov, a Defense Ministry spokesman, accused Kiev of trying to deceive the world with “cynical lies” about Russia’s offensive. He presented a set of images he said showed evidence of “nationalists” using a synagogue in the city of Uman, in central Ukraine, “for military purposes.” The city is a major pilgrimage site for Hasidic Jews. The spokesman added that the Ukrainians planned to use Jewish religious groups to exert pressure on Russia if the synagogue in question had been destroyed. Ukrainian President Volodymyr Zelensky mentioned the shelling of the city by Russia in his address to Israel’s parliament, the Knesset, on March 20. Tens of thousands of Jews gather in Uman to pay their respects at the tomb of ...

The Russian Union of Grain Exporters (Rusgrain) has turned to the Bank of Russia to get the necessary tools to start selling domestic produce for rubles. The measure was discussed at the regulator’s meeting with the alliance, according to the list of initiatives obtained by business daily Kommersant. Rusgrain, which accounts for more than 70% of Russian grain exports, has asked the regulator to provide ruble liquidity for foreign banks that serve the buyers of the country’s grains. The current contracts currently permits all transactions to be made in foreign currency, sources close to the union told the media, adding that the Ukrainian conflict that led to the fresh wave of anti-Russian sanctions has posed serious challenges to obtaining those payments. Russia raises grain export taxREAD MORE: Russia raises grain export tax Market participants are facing serious restrictions on logistics, insurance and payment for grain, according to the Rusgrain Chairman Eduard Zernin, who said ...

Talks between Russian and Ukrainian negotiators in Turkey have produced one significant step forward: Kiev giving up on Crimea and the Donbass, Russian Foreign Minister Sergey Lavrov claimed on Wednesday, during a visit to China. Lavrov was attending a conference on Afghanistan, hosted by his Chinese colleague Wang Yi. The foreign ministers of Pakistan, Iran, Tajikistan, Turkmenistan, and Uzbekistan were also present, along with observers from Indonesia and Qatar. “I consider it significant progress that the Ukrainian negotiators confirmed the need to ensure a non-nuclear, non-aligned status of Ukraine and its security outside the framework of NATO, as well as the Ukrainian colleagues’ understanding that the issues of Crimea and the Donbass have been permanently resolved,” he told reporters in Tunxi. Ukrainian Foreign Ministry spokesman Oleg Nikole nko disagreed with Lavrov’s statement, however, saying the Russian diplomat “demonstrates a misunderstanding of the negotiation process...

South Ossetia, a partially recognized republic in the Caucasus region, will soon be taking legal steps in an attempt to join the Russian Federation, its president, Anatoly Bibilov, has announced. Most of the world officially regards the territory as part of Georgia, although Tbilisi hasn't held control since the Soviet collapse in 1991. “I believe that unification with Russia is our strategic goal. Our path, the aspirations of our people. And we will move along this path. We will take appropriate legal steps in the near future. The Republic of South Ossetia will be part of its historical homeland – Russia,” Bibilov said. Located in the South Caucasus, South Ossetia fought a brutal war with Georgia, in the early 1990s, and was recognized by Russia as an independent republic following the 2008 military conflict between Russia and Georgia, prompted by Tbilisi's forces shelling the region, where Russian peacekeepers were stationed. READ MORE: Georgian actions amounted to decl...

Germany triggered its gas emergency plan on Tuesday. The measure is intended to serve an ‘early warning’ for the potential disruption or stoppage of energy supplies from Russia. The move was made ahead of March 31 – Russia’s deadline for “unfriendly countries,” which includes Germany and the rest of the EU – to begin paying for gas in rubles instead of dollars and euros. Berlin’s move is the first in a three-stage maneuver that includes early warning, alert, and emergency levels. German Economy Minister Robert Habeck said that gas supplies are safeguarded for now, but stressed the need to “increase precautionary measures to be prepared for an escalation from the Russian side.” Ukraine warns EU on renewable energy Read more Ukraine warns EU on renewable energy A special ‘crisis team’ of representatives of the ministry and industry has convened to closely monitor the situation, “so that – if necessary – further measures can be taken to increase supply security,” he said in a statemen...

The head of US forces in Europe has said he is not aware of a program to train Ukrainian soldiers in Poland, after President Joe Biden appeared to suggest such a mission was underway while clarifying a previous gaffe made last week. Speaking to lawmakers during a Senate Armed Services Committee hearing on Tuesday, General Tod Wolters – the commander of the US European Command (EUCOM) and NATO's Supreme Allied Commander Europe – insisted there is no training mission in Poland “at this time.” “I do not believe we are in the process of currently training military forces from Ukraine in Poland,” Wolters told Republican Senator Tom Cotton (Arkansas). However, the general added that there have been “liaisons” with Ukrainian troops in Poland and that they are “being given advice,” but argued “that's different than I think [what] you're referring to with respect to training.” He did not offer details on what those ‘liaisons’ include. Biden appears to suggest US troops will be...

Kremlin spokesman Dmitry Peskov said the process of switching to ruble payments for Russian gas export deliveries will take time and won’t begin immediately this week, despite the March 31 deadline set by presidential order. “This process is more drawn out in time for technical reasons,” he told reporters, adding that importers will be allowed time to adjust. Earlier this week, Russian President Vladimir Putin ordered the government to take necessary steps to switch all payments for Russian natural gas from “unfriendly” importers to the ruble, starting March 31. The move targets states that are waging economic warfare against Russia by imposing numerous sanctions and freezing the country’s foreign currency reserves, following the launch of the military operation in Ukraine. READ MORE: What happens if Russia turns off the gas taps to Europe These will most likely include the US, EU, Canada, Australia, Japan, and a number of smaller countries.

BlackRock President Rob Kapito told oil and gas executives on Tuesday that “entitled” Americans are about to deal with shortages of food and other goods, and should prepare accordingly. BlackRock, which manages $10 trillion in assets, has been accused of making home ownership unaffordable for millions of Americans. .”For the first time, this generation is going to go into a store and not be able to get what they want,” Kapito told a meeting of the Texas Independent Producers and Royalty Owners Association. “And we have a very entitled generation that has never had to sacrifice. “I would put on your seat belts because this is something that we haven’t seen,” Kapito added, warning that Americans will soon face “scarcity inflation” – or rising prices compounded by shortages of everything from food and consumer goods to oil and gas. The Biden administration has blamed spiraling inflation on Russia’s military offensive in Ukraine, with White House Communications Director Kate Bedingfield...

Germany will see its major industries like steel, chemicals and paper shut down in a matter of weeks if it’s left without gas, oil and coal from Russia, the country’s top industrial unions have said. The heads of IG Metall, IGBCE and IG Bau unions held a joint press-conference in Berlin on Tuesday to warn about the potential fallout of the German government’s push to cut reliance of Russian energy in response to the ongoing conflict in Ukraine. “Exploding energy prices, but above all a possible gas embargo, would hit energy-intensive industry – the mother of the industrial network – hard,” Michael Vassiliadis, president of Germany’s IGBCE chemical workers union, pointed out. “The consequences would not only be reduced work hours and job losses, but also the rapid collapse of the industrial production chains in Europe – with worldwide consequences,” he added. Halting Russian gas, oil and coal imports will put 3.4 million employees in the German construction industry at risk, as it ...

Russia has raised concerns over the apparent use of an official UN vehicle in combat by Ukrainian forces. It’s the latest of numerous incidents of civilian transport being seized for the war effort by Kiev, Moscow’s envoy to the UN Security Council complained on Tuesday. Vassily Nebenzia warned that it created a situation where, for example, medical vehicles could be used to deliver Western weapons into the country. “We are expecting a response to our latest inquiry about the UN vehicle with the diplomatic number DP210015, which was also taking part in Kharkov in combat operations of the Ukrainian nationalists, according to witness accounts,” he said. The vehicle he mentioned was apparently spotted in a video released by Ukrainian fighters to show off the shooting down of an aircraft. It was reportedly used to transport anti-aircraft missiles. The diplomat said there were credible reports that official vehicles of the UN and the OSCE were used by Ukrainian forces. He called on bo...

The status of Crimea is settled for Russia, and Moscow will not discuss the issue with Ukraine or any other party, Kremlin spokesman Dmitry Peskov told journalists on Wednesday. He was commenting on the outcome of peace talks in Turkey. Kiev’s proposals for a settlement apparently include a pledge to resolve the territorial dispute over the peninsula within 15 years without the use of force. “Crimea is part of the Russian Federation. According to our constitution, we cannot discuss with anyone the fates of Russian territories, the fates of Russian regions. That is out of the question,” the official said. Crimea voted to rejoin Russia in 2014, in a disputed referendum, after a violent Western-backed coup in Kiev overthrew the Ukrainian government. Kiev claims the vote was illegitimate and now refers to Crimea as temporarily occupied Ukrainian territory. Ukrainian officials have said that under no circumstances will they drop the claim over the region. Crimea was part of Russia unt...

Russia’s lead negotiator in peace talks with Ukraine, Vladimir Medinsky, said on Wednesday that Kiev has agreed in principle to officially become neutral. The country's bid to join NATO was one of the reasons Moscow said it launched a military offensive last month. Medinsky made his statement a day after the sides held a peace summit in Istanbul, Turkey. He said the Ukrainian team presented a draft plan roadmapping a future peace deal. “Yesterday, for the first time, the Ukrainian party announced, not only orally but also in written form, that it’s ready to fulfill a number of the most important conditions for building normal, and, hopefully, good-neighbourly relations with Russia in the future. Let me remind you that after the 2014 coup d'état in Ukraine Russia has been making these demands to the Kiev regime, to its patrons, especially the United States, for years. Russia proposed negotiations, proposed to conclude various kinds of agreements that were supposed to guarante...

It was the culminating event of a four-day trip planned at the last minute for the purpose of rallying Europe to the cause of standing up to Russia’s military incursion into Ukraine. Speaking before a large and enthusiastic crowd in the Polish capital of Warsaw, US President Joe Biden concluded his remarks by going off-script. After condemning what he called his Russian counterpart Vladimir Putin’s “brutality” in Ukraine, Biden uttered nine words that, in a blink of an eye, made moot whatever else had been accomplished on this trip: “For God’s sake, this man [Putin] cannot remain in power.” Biden departed the venue and headed straight for Air Force One, which was standing by to fly him back to the US. Before his plane could get off the ground, the White House was scrambling to contain the damage done by Biden’s most recent gaffe. “The President’s point,” an unnamed White House official explained to the press, “was that Putin cannot be allowed to exercise power over his neighbors or t...

"A new financial order will be negotiated in the world, and the West won’t have the main say in it anymore, ex-Russian President Dmitry Medvedev has claimed. The “hellish” sanctions imposed on Russia by the US, EU, and their allies over the conflict in Ukraine have failed to cripple to the country, but are instead “returning to the West like a boomerang,” Medvedev, the former Russian president who is now the deputy chairman of the Russian Security Council, wrote on Telegram. “This is hurtful for our ‘friends’ in Europe and overseas.” But while the West continues its “fruitless efforts” to restrict Russia, “the world is gradually moving towards a new logic of global economic relations; towards upgrading the financial system,” he said. ‘The Americans are no longer the masters of planet Earth' – ex-Russian president According to Medvedev, the US and EU have “tarnished their reputation” by blocking the reserves of the Russian central bank. “It is impossible to trust those who ...

The UK prime minister’s spokesman said on Wednesday the nation would not pay for Russian gas in rubles as Moscow demands. London is liaising with British companies who might be concerned about the issue or its impact on industries and manufacturers across Europe, he added. The statement comes as the Kremlin indicated on Wednesday that all of Russia’s energy and commodity exports could soon be priced in rubles. “[Business minister] Kwasi Kwarteng, working with his counterparts, have made clear that they won’t be paying in rubles,” Johnson’s spokesman told reporters, adding, “[The business ministry] is obviously in contact with any UK businesses that may have concerns.” READ MORE: Russia will not give away gas for free – Kremlin Unlike other countries in Europe, the UK is less dependent on Russian gas supply. Russia only provides around 5% of Britain’s gas imports. However, surging energy prices have been affecting the economy. According to the Office for National Statistics, 51% of...

Russia has given “hostile” countries a March 31 deadline to begin payments for natural gas imports in rubles. The new currency-switch rule will affect countries that imposed economic sanctions on the nation and froze its foreign currency reserves. This particularly concerns some EU countries that rely heavily on Russian energy supplies. What will happen after March 31? Russia says Europe will not get free gas if countries refuse to pay in rubles. “We are not going to supply gas for free, this is clear,” Kremlin spokesman Dmitry Peskov said on Tuesday. When asked whether gas would be turned off for non-payers, Peskov replied: “No payment, no gas.” He added, however, that Russia is yet to make a final decision on how to respond should European countries refuse to pay in the Russian currency. How much does Europe depend on Russian gas? Europe depends heavily on Russian gas for heating and power generation. Russian gas accounts for some 40% of Europe’s total consumption. The EU’s gas impo...

Kremlin spokesman Dmitry Peskov indicated on Wednesday that all of the nation's energy and commodity exports could be priced in rubles. Moscow has already demanded that gas exports to hostile countries should be paid for in the Russian currency. Peskov was asked about the comments by parliament speaker Vyacheslav Volodin, who earlier in the day called for pricing all of Russian commodity exports in domestic currency. “This is an idea that should definitely be worked on,” the Kremlin spokesman said. According to Peskov, the US dollar’s role as a global reserve currency had already taken a hit and a move to pricing Russia’s biggest exports in rubles would be “in our interests and the interests of our partners.” READ MORE: Russia will not give away gas for free – Kremlin Last week, Russian President Vladimir Putin ordered the government to develop the necessary tools to switch all payments for Russian natural gas from “unfriendly states” to rubles from March 31. The measure conce...

Sanctions are an ineffective and impractical instrument as they always have unintended consequences that negatively impact the countries that impose them, investor and author of Planet Ponzi Mitchell Feierstein said . Talking about the US and UK’s latest ban on transactions involving Russian gold reserves, he said it is impossible to sanction the Russian Central Bank’s gold. Firstly, because the Russian Central Bank is a buyer of gold, not a seller. Secondly, the ‘refining’ process to produce gold bars or coins is easily replicated. “Russian” gold can easily be melted – taken to another refiner, assayed and molded into bars and re-sold, he said. “Exchanges and markets do not specify where gold ore was mined or refined, nor do they care. Proving this would be impossible. The buyer’s only demand is that the minimum assay certificate confirms .995 purity and the exact weight.” Feierstein also noted that all gold sanctions may and will be easily bypassed while central banks, including t...

he Russian president’s press secretary Dmitry Peskov said on Tuesday his country will not supply natural gas to the European market for free, as euros and dollars will not be accepted from March 31. Peskov was commenting on the possibility of Western companies refusing to pay for gas in rubles. His statement comes as some foreign buyers of Russian gas have expressed dismay over the currency switch for payments. German Energy Minister Robert Habeck said on Monday that the G7 countries refuse to pay Russia for energy resources in rubles. “Once again, there is no free gas,” Peskov told reporters. In response to a question on whether the Kremlin is calculating the option that European counterparties will refuse contracts, the press secretary replied: “Of course.” Russia sets ruble gas payment deadlineREAD MORE: Russia sets ruble gas payment deadline Peskov said that Western companies “must understand the conjuncture and the completely changed environment in the context of the economic ...

After publicly appearing to call for the ouster of his Russian counterpart Vladimir Putin, US President Joe Biden read from a pre-prepared ‘cheat sheet,’ on Monday, in an attempt to assure reporters that he wasn’t actually suggesting regime change in Moscow. However, Biden, whose cognitive health Republicans say is declining, ended up doubling down on his original remarks. Speaking to reporters at the White House, the president said that his declaration in Poland last week that Putin “cannot remain in power” was not a call for regime change in Moscow. “I’m not walking anything back,” Biden said. “I want to make it clear: I was not then, nor am I now, articulating a policy change. I was expressing moral outrage that I feel, and I make no apologies for it.” Photos from the press conference show Biden carrying a small card, entitled “Tough Putin Q&A Talking Points,” in which the president was instructed to answer such a question as follows: “I was expressing the moral outrage I ...