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Bloomberg News
September 13, 2022, 6:16 AM PDT
Russia’s energy revenues shrank in August to the lowest in more than a year as Western sanctions over Ukraine prompted the Kremlin to sell discounted oil and squeeze gas flows to Europe.
The refusal to buy Russian oil by some traditional customers in Europe means Moscow has been forced to sell oil at a steep discount in Asian markets, depriving it of the full benefit of higher prices. While August saw record-high spot gas prices in Europe, gas levies, which take up a smaller share in the budget, couldn’t fully offset lower oil revenues. State-run Gazprom PJSC has significantly cut gas exports to Europe this summer, blaming sanctions for capped flows.
Russia’s oil and gas revenues, which account for more than a third of nation’s budget, fell to 671.9 billion rubles ($11.1 billion) last month, the lowest since June 2021, according to Finance Ministry’s data published Monday. That’s a drop of almost 13% from July. It’s also a 3.4% decline from a year ago, even though Urals crude prices rose almost 10%.
Euro is taking hits, too.
If Russia stops selling/pumping to Europe. Both go broke.
All Russia needs is Aliexpress. While Europe needs the energy of the Gods in order to survive.
It's easy to see what will happen next.
They’re just not going to admit that their policies are just them steering for the ditch so we don’t go off a fiscal cliff.
This is either Russian agiprop or domestic Swedish anti-NATO agiprop. Or both.
EU is not a sovereign union. They are vassals of the US.
If Israel acted on the behalf of their citizens, they'd be working for peace accords, and affirming peace through power.
The warden at the prison that Jeffrey Epstein "killed" himself at got promoted.
He didn't fuck up. He did his job.
Nothing can save them at this point.
LOL
Is this fertilizer dead Ukrainians perchance?
jykiodfgr says
LOL
It would be nice for some nation to make agreements with Africa, rather than just exploiting the shit out of them.
I doubt this doesn't have strings attached.
I've talked to Africans, they tell me China builds infrastructure but places the nation into debt, and the infrastructure is crap and falls apart so the nation ends up with a bunch of rubble, and a bunch of debt.
LOL
German gas storage 90% full ahead of winter despite Russian cuts
German Economy Minister Robert Habeck said Germany has a chance of getting through the winter "comfortably" despite the lack of Russian gas. Germany is on track to meet a 95% storage capacity target by November.
Gas storage facilities in Germany are more than 90% full, according to data released by the Aggregated Gas Storage Inventory (AGSI), a European energy data platform.
The German government has planned for 95% of storage capacity to be filled by November. The storage is seen as essential for Germany to get through winter without Russian gas imports.
"If everything goes well, savings in Germany are high and if we have a bit of luck with the weather, we will have a chance at getting through the winter comfortably," Economy Minister Robert Habeck said on Monday.
...
Germany also receives natural gas via pipelines from Norway, the Netherlands and Belgium. Over the weekend, Germany expects to sign contracts for the delivery of liquefied natural gas (LNG) in the United Arab Emirates.
France's energy regulator CRE said natural gas exports to Germany could start in October. Construction on one of Germany's new LNG terminals is also set to begin this week.
If they get the coldest winter in history 100s of millions of Europeans are literally going to die.
HeadSet says
They do own coats and blankets.
Nothing can save them at this point.
This winter just giggle at the hypocrisy as the Green Europeans have pollution advisories from all the wood smoke. People will be amazed at how many fireplaces and wood burning stoves the Europeans have.
Russian economy is projected to boom next year while Europeans face economic collapse next year.
Oil isn't crap. Wheat isn't crap. Chinese -- and lots of Africa -- desperately needs both.
Europe is busy building floating LNG facilities to take US natural gas, they are keeping nuke plants operating and firing up old coal power plants to make up for the loss of Russian gas.
Even the Germans aren't retarded enough to go back to relying so heavily on Russian energy after all this bullshit.
Is Russia going to "boom" just selling to India and China having lost their European clients? China's population is starting to decline.
Who is going to want to buy crap Russian military hardware after seeing how poorly it performed in Ukraine?
Only the United States thinks war == economy.
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