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As US, UK Ban Putin’s Oil, China Mulls Stakes In Russian Firms
The UK will ban Russian oil imports in conjunction with the US, a move that threatens to exacerbate a highly combustible standoff between Vladimir Putin and the West.
The UK's decision isn't applicable to Russian gas, but the US embargo will also apply to LNG and coal. The bans will be phased in over a period of months.
"We will not subsidize Putin's war," Biden told Americans on Tuesday. "Defending freedom comes with costs," he added, conceding that the Kremlin's decision to invade its neighb
Nobody is talking about the Trump trade deal with China. Booming imports from Russia and meeting none of the purchase commitments for US goods create really bad optics. How long can the US not enforce the trade deal without looking weak?
What interests me in this puzzle is the transfer or redistribution of capital.
In the big picture, China is sending a shot across the bow in declaring it’s willingness to partner with Russia by exchanging commodities with each other. The globalized nature of commodities seems to make that somewhat awkward in terms of future value. It’s hard to imagine how Russia will redistribute Yuan into their economy.
In the smaller picture, how will the Russian criminal billionaires interact with the world? How will a newly minted Yuan backed Russia currency interact in the real world, e.g. will vacations in Aspen or Dublin be done with crypto or will new yachts be obtained through new dynamics that currently don’t exist?
It seems these threats that exist today are connected to mechanisms that don’t exist, except for propoganda. Obviously there are new deals being examined and repositioning is afoot, but I maintain that supply/demand reality is a constraint on any new world order being examined. Furthermore, if Russia wouldn’t have initiated an aggressive invasion of Ukraine and instead chipped away at reforms with China and India, Russia might have built a stronger position, versus being in a period of unprecedented shock. By going on the offense to gain initiative, without established strong partnerships makes them substantially weaker and desperate. The partnership with China has limited potential.
Sorry about any typos or scrambled words in any posts… Who’s got time to proofread?
Practical dragon licking wounded bear. Blood today marrow tomorrow.