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Escobar: How Russia Will Counterpunch The US/EU Declaration Of War Authored by Pepe Escobar via The Saker blog, Only self-sufficiency affords total independence. And the Big Picture has also been keenly understood by the Global South … One of the key underlying themes of the Russia/Ukraine/NATO matrix is that the Empire of Lies (copyright Putin) has been rattled to the core by the combined ability of Russian hypersonic missiles and a defensive shield capable of blocking incoming nuclear missiles from the West, thereby ending Mutually Assured Destruction (M.A.D.) This has led the Americans to nearly risk a hot war to be able to place hypersonic missiles that they still don’t have on Ukraine’s western borders, and so be within three minutes of Moscow. For that, of course, they need Ukraine, as well as Poland and Romania in Eastern Europe. In Ukraine, the Americans are determined to fight to the last European soul – if that’s what it takes. This may be the last roll of the (nuclear) dice.

“Pain at the pump. Pain at the pump! PAIN AT THE PUMP!!!!!” This refrain, manically employed by American politicians and pundits to bemoan rising gas prices, is so common that a foreign visitor might assume that we are only allowed to fill up our cars at the gas station after first submitting to a kick in the shins. This story was originally published by Grist . You can subscribe to its weekly newsletter here . But of course, in our hallowed American rhetoric, the most discussed pain is of the economic variety. That was apparent at this week’s State of the Union address, when President Joe Biden made sure to assuage Americans’ biggest fears about the war in Ukraine – namely, that the conflict would adversely affect their gas prices. “Tonight, I can announce that the United States has worked with 30 other countries to release 60 million barrels of oil from reserves around the world,” Biden said . “I know the news about what’s happening can seem alarming to all Americans. But I want you to know that we are going to be OK.

JP Morgan, Goldman Scoop Up Distressed Russian Assets As Analysts Fret About Economic Collapse A couple of days ago, as Russia-linked ETFs plunged following a battery of US and European sanctions against Russia designed to isolate its economy and cut its people off from the global financial system, we asked ourselves: who is buying all these Russian assets? The notion that American distressed investors would pass up the opportunity to pick up Russian assets on the cheap seemed, well, counterintuitive. And while China was likely one source of capital, would western investors really allow the sanctions threat to scare them away from an obvious opportunity to buy? Fast forward to last night, and a team of reporters at Bloomberg have produced an answer: at risk of potentially violating US sanctions (which have imposed strict limits on secondary market transactions involving certain types of Russian debt), JP Morgan and Goldman are already scooping up Russian corporate bonds, either for their own book, or on behalf of waiting clients.

Russia is struggling to sell oil as buyers flee the stigma, logistical challenges and fears of further sanctions that come with dealing with Moscow in the wake of the Ukraine invasion.Even without direct sanctions on its energy industry Russia will lose around one million barrels per day (bpd) in oil exports, according to analyst Jarand Rystad, head of Rystad Energy, from the 10.5 million bpd it sold last year.That is despite the scarcity of global supplies sending prices soaring.Brent North Sea crude oil -- the industry benchmark -- rocketed this week to nearly $120 per barrel, while gas hit a record peak.OPEC and other major oil exporters, including Russia, refused to increase production beyond previously-agreed levels when they met on Wednesday, dashing hopes of easing supply pressures.The price might be working in Russia''s favour, but it faces a major freeze-out from buyers.Energy Aspects estimates that 70 percent of its oil exports are paralysed as brokers and refineries shun Moscow in spite of the red-hot market.

The Russian/Ukrainian conflict rages - disrupting countless lives.

Equinor and bp have announced an agreement to turn the South Brooklyn Marine Terminal (SBMT) complex in Brooklyn, New York into a major regional hub for offshore wind. The post Equinor, BP to build wind $250m NYC wind hub in South Brooklyn appeared first on Energy Voice .

LIC’s IPO will be the biggest to be impacted by the war, which has wiped out 6% of BP Plc’s market value and over $3 trillion of global market capitalization since tensions started rising from Feb. 18.

These Are All The Companies That Have Cut Ties With Russia An ever-expanding list of public companies, including Apple, Exxon, GM, and Nike, are proudly announcing they are cutting ties to Russia as its invasion of Ukraine brings condemnation and sanctions. But while all this sounds very ''politically-correct'' and ''shared-sacrifice''-y, Bloomberg reports that if every U.S. tech firm followed Apple and disconnected from Russia, it would reduce revenue by only 1%-2% in a worst-case scenario , according to Wedbush analyst Dan Ives. So far, the lost business looks like it won’t have a major impact on profits (or stock prices), especially with China being by far Russia''s largest trading partner. You will find more infographics at Statista In fact, for some, like Exxon, cutting ties with Russia can spark a ''virtue-signaling'' ESG boost with minimal impact to the company''s actual business , and as Bloomberg''s Tim Culpan remarks in a very frank opinion piece, consumer brands halting sales in Russia "smells of opportunism" to some, with transportation constrained, limited access to international payments systems, and a sinking ruble: "While that sounds like an appropriate response to Moscow’s brutality, it also smells of opportunism… ...it’s hard not to wonder whether companies were taking a principled stand only once it was no longer feasible to do business in the country " Of course soaring oil and other commodities cost will strike at profits as expenses rise and consumers have less to spend.

Oil company BP''s decision to sell out of Russia at a cost of as much as $25 billion was a shock for an industry that has worked very closely with Russia. Condemnations by Apple and Disney were unusual.

The impact of the Russia/Ukraine crisis is growing, as big oil companies that had entered into various deals with Russian oil companies are now looking to withdraw. These actions will lead to collateral damage in the weeks and months to come, as production losses from the moves inevitably pile up, rendering an already-tight oil market constrained by years of under-investment in new reserves even less capable of meeting rising global demand. BP was the first major Western oil firm to announce it would cancel Russian-based business ventures, warning…

BP <> and Equinor <> say they signed an agreement to turn the South Brooklyn Marine Terminal complex in New York into a major regional hub for offshore wind.BP and Equinor…

Oil and Natural Gas Corp (ONGC) said on Thursday it did not foresee any challenge in selling its share of crude from Russian oilfields or repatriating dividends from there in the current situation."Based on present applicable sanctions and removal of five Russian banks from SWIFT arrangement, the company does not foresee any challenge in selling crude oil or repatriating dividends except that scrutiny of financial transactions may be higher than usual," ONGC Videsh, the overseas arm of state-run explorer, said in an emailed response to ET. "ONGC Videsh banks in Russia are not affected by SWIFT cut off as of now as per our information," it added.Oil prices rallied to $119 per barrel on Thursday on fears that Russian supplies will be disrupted by the volley of Western sanctions that are aimed at non-energy sectors. Cautious financiers, insurers, and traders are steering away from Russian oil cargoes. "As of now, we have not faced any issues (in selling crude)," ONGC said.ONGC didn''t clearly say if it was rethinking its investment plan in Vostok, Russia''s massive arctic oil project. "Considering the dynamic nature of the development as a result of the Russia-Ukraine conflict, ONGC Videsh is keeping a close watch on the development," the company said on Vostok plans.Sources told ET that Western sanctions would make it nearly impossible for ONGC to raise capital for investment in the massive Vostok project.

In response to Russia’s invasion of Ukraine, British energy giant BP announced on February 27 that it will sell its nearly 20% ownership in Russian state-owned energy giant Rosneft. BP’s rival Shell is also pulling out of all of its operations in Russia, as are US energy giant ExxonMobil and Norway’s state-controlled company, Equinor. These […] The post Shell, BP, ExxonMobil leaving Russia after decades appeared first on Asia Times .