EU moves step closer to deal on Russian oil embargo - pipelines could remain open at least temporarily

[onthedarkside]

 

 

  Diplomats make progress but leaders will decide whether to endorse broad statement backing exemption for oil pipelines

 

EU leaders are set to discuss a plan to water down proposed sanctions on Russian oil in an attempt to bring Hungary on board, according to diplomats and draft summit conclusions seen by POLITICO.

 

Under wording put forward by EU ambassadors, deliveries of Russian oil by pipeline would continue temporarily while sanctions are applied to supplies delivered by ship.

 

The plan, first reported by POLITICO last week, would represent a weakening of the European Commission's original proposal for a "complete ban" on Russian oil imports.

 

(more)

 

https://www.politico.eu/article/eu-moves-step-closer-to-deal-on-russian-oil-embargo/

 

 

[Bkk Brian]

From Ursula von der Leyen, a deal has now been reached, no doubt be in the media soon:

 

I welcome the #EUCO agreement tonight on oil sanctions against Russia. This will effectively cut around 90% of oil imports from Russia to the EU by the end of the year.

 

https://mobile.twitter.com/vonderleyen/status/1531396163185827843

 

[hotchilli]

Doing deals doesn't help Ukraine one bit

[micmichd]

54 minutes ago, Bkk Brian said:

From Ursula von der Leyen, a deal has now been reached, no doubt be in the media soon:

 

I welcome the #EUCO agreement tonight on oil sanctions against Russia. This will effectively cut around 90% of oil imports from Russia to the EU by the end of the year.

 

https://mobile.twitter.com/vonderleyen/status/1531396163185827843

 

The population of Northern Europe will be very happy to freeze and walk in the next winter. I'm glad that I don't live there anymore. 

[superal]

4 hours ago, hotchilli said:

Doing deals doesn't help Ukraine one bit

Russia is making $700 million a day on oil exports . This money is funding the import of weapons and local manufacturing of tanks etc to fight Ukraine . The oil & gas embargo will effect its supply of weapons and military equipment and thus put Russia in retreat 

[AnotherFarang8]

6 hours ago, micmichd said:

The population of Northern Europe will be very happy to freeze and walk in the next winter. I'm glad that I don't live there anymore. 

The cost of energy and food will rise world wide though. Thailand will manage better than many others as it tends to value its trade relationships with all countries.

[Hummin]

2 minutes ago, AnotherFarang8 said:

The cost of energy and food will rise world wide though. Thailand will manage better than many others as it tends to value its trade relationships with all countries.

The prices will skyrocketing and what will the farmers get back even prices is skyrocketing? Not much is my best guess.

 

Fertilizer is more than doubled the last few months.

 

46 baht for 95 Gasolin now?

Edited May 31, 2022 by Hummin

[AnotherFarang8]

1 minute ago, Hummin said:

The prices will skyrocketing and what will the farmers get back even prices is skyrocketing? Not much is my best guess.

 

Fertilizer is more than doubled the last few months.

 

46 baht for 95 Gasolin now?

Governments with dollar reserves, which Thailand is one of, will be subsidizing rising costs by selling those reserves to support local currency to somewhat offset high inflation. Thailand has been doing this in the past months to keep baht from falling too much. This will drive energy dollar prices up faster and higher as more dollars released from state coffers will now chase limited energy supply. Dollar hyperinflation is the end game, US is the net debtor of HUGE amounts, that debt can only be relieved by hyperinflation.