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On May 10, local time, Russian Presidents Press Secretary Peskov said that Russia is actively developing relations with many countries and will continue to do so. Peskov pointed out that it is very difficult to isolate Russia because Russia occupies a very important position in the world. In addition, Peskov also said that Russian President Putin is willing to engage with leaders of any country in the world, and he is willing to interact to the extent that they are ready to cooperate.On May 10, California Governor Gavin Newsom criticized the U.S. federal government in a video posted on social media. He said that the U.S. governments current tariff policy "may cause the United States to lose its position as the worlds largest economy." In the video, he criticized the U.S. governments tariff policy for blocking U.S. imports and directly affecting the daily lives of ordinary people. "In a few months, people will lack school bags and Christmas toys. Tariffs will make American families even worse." Newsom said that as the state with the strongest economic power in the United States, California occupies an important position in the global economy, precisely because California is committed to "reducing trade barriers and providing quality services to American consumers", but the current tariff policy is undermining all of this, leading to rising prices and stagnation at ports.Kremlin: European countries statements have a "confrontational character".May 10th news: On the evening of May 9th local time, a US federal judge ruled that the Trump administration may not continue to advance its large-scale layoffs or major restructuring plans for multiple federal agencies based on an executive order issued in February this year.Ukrainian President Zelensky: We all agree that the conflict in Ukraine must be ended "in a dignified and peaceful manner."

Russia Reduces Gas Exports to Europe, Citing Ukraine As The Reason

Haiden Holmes

Nov 23, 2022 14:36

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Russian gas monopoly Gazprom (MCX:GAZP) stated on Tuesday that it will restrict transit shipments through Ukraine beginning the following week, resulting in a rise in European gas prices.


Gazprom indicated that the decision was made in reaction to Ukraine's refusal to transport gas supplies to Moldova, the poorest country in Europe by most measures.


Since Gazprom ceased shipments through the Nord Stream 1 pipeline and its trunk network to Slovakia this year, only the pipeline that through Moldova and Romania on route to Bulgaria transports large quantities of natural gas to European Union countries. It is consistent with prevailing anticipation in Brussels and other European capitals that Russia, the EU's major supplier previous to its invasion of Ukraine in February, will not supply the union with natural gas this winter. Prior to its invasion of Ukraine, Russia was the EU's top supplier.


Gazprom and Ukraine have a long history of conflicts over transit shipments, extending back to the 1990s, when Moscow first sanctioned illegal siphoning by Ukrainian firms as a cost of retaining influence in its neighbor. Russia's position has hardened since 2005, when the country voted for the first time to move firmly toward the EU.


According to Gazprom, about 52 million cubic meters of Moldova-bound gas are currently trapped in Ukraine, exceeding Moldova's daily need.


At a meeting in Paris on Monday, Moldovan President Maia Sandu warned delegates that her country, which is in the earliest stages of the process to join the EU, was facing "an extraordinary energy crisis" that may "threaten our social peace and security."


Gazprom's announcement had limited influence on northwest European benchmark prices and will have little effect on Europe's overall gas balance in the foreseeable future. The front-month Dutch TTF contract climbed 1.2% to €117.5 per megawatt-hour as of 07:55 ET (12:55 GMT) (12:55 GMT).

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