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On September 14th, it was learned that the State Administration for Market Regulation (CNMR) recently issued the "Announcement on Strengthening the Management of Certification Information Reporting and Certification Certificate Information Inquiry," outlining reforms to the management of certification information reporting and certification certificate inquiry. The "Announcement" clarifies the requirements for full-cycle information reporting. It stipulates that certification bodies must report relevant certification information to the CNMR within the prescribed time limits, achieving standardized and comprehensive information reporting for certification activities. Going forward, the CNMR will strengthen supervision and inspection of the implementation of the "Announcement," promoting certification bodies to strictly fulfill their responsibilities for information reporting and certificate inquiry services, and continuously enhancing the credibility of quality certification.On September 14th, UK government bond yields rose again in early trading, hitting multi-year highs across all maturities, driven by escalating oil price spikes due to escalating supply tensions in the Middle East. According to LSEG data, the 30-year bond yield rose to 5.951%, its highest level since March 1998, while the 5-year yield reached its highest level since July 2008. Investors are betting that the Bank of England will gradually tighten monetary policy over the next year as inflationary pressures from rising oil prices increase. This trend has further weakened the buffer between the UKs existing budget plan and fiscal rules. Furthermore, the UKs short-term bonds have underperformed similar bond markets in other major economies—a phenomenon particularly evident during periods of high oil and gas prices, reflecting the UKs dependence on imported energy. Sahil Mahtani, head of the Ninety One Investment Institute, said: "The unsettling signal from the government bond market is that this situation is being interpreted as a problem of UK inflation. The UK, like other countries, has been affected by the same global shocks, but the market is demanding far greater compensation for the UKs inflation risk. This is one of the reasons why the government cannot simply attribute the sell-off to external factors."The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 4.6 occurred at 17:07 on September 14 near Mojiang County, Puer City, Yunnan Province (23.15 degrees north latitude, 101.61 degrees east longitude). The final result is subject to the official rapid report.Nvidia (NVDA.O) shares fell 3% in pre-market trading.The yield on 30-year UK government bonds reached 5.951%, the highest level since February 1998.

Ukraine Will Block A Crucial Russian Gas Transit to Europe, Blaming Russia

Charlie Brooks

May 11, 2022 09:46

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Ukraine said on Tuesday that it will cease the flow of gas via a transit point that, according to Kiev, sends over one-third of the fuel piped from Russia to Europe through Ukraine. Kiev blamed Moscow for the action and said it would redirect the flows elsewhere.


Even after Moscow's invasion, Ukraine has remained a significant transit route for Russian gas to Europe.


The operator of Ukraine's gas infrastructure, GTSOU, has declared "force majeure" and will cease shipments through the Sokhranivka route as of Wednesday. "Force majeure" is a provision triggered when a firm is affected by circumstances beyond its control.


However, Gazprom (MCX:GAZP), which has a monopoly on Russian gas pipeline exports, said that it was "technologically impossible" to move all volumes to the Sudzha connecting point farther to the west, as GTSOU requested.


GTSOU CEO Sergiy Makogon told Reuters that Russian occupation troops have begun transporting gas flowing through Ukraine to two rebel territories supported by Russia in the country's east. He failed to provide proof.


The company stated that it was unable to operate at the Novopskov gas compressor station due to "the interference of the occupying forces in technical processes," adding that it could temporarily redirect the affected flow to the Sudzha physical interconnection point, which is located on Ukrainian territory.


Ukraine's suspension of Russian natural gas shipments via the Sokhranivka route should have no effect on the local Ukrainian market, according to Yuriy Vitrenko, the president of the state-owned energy business Naftogaz.


The national gas company of Moldova, a tiny country on Ukraine's western border, said that neither GTSOU nor Gazprom had notified them of a supply interruption.


Russian army and separatist militants have controlled the Novopskov compressor station in the Luhansk area of eastern Ukraine since shortly after Moscow launched a "special military operation" in February.


GTSOU said that it is the first compressor in the Ukraine gas transit system in the Luhansk area, the transit route for about 32,6 million cubic metres of gas per day, or a third of the Russian gas transported to Europe through Ukraine.


To fulfill its "transit responsibilities to European partners in full," GTSOU said that it will "temporarily move unavailable capacity" to the Sudzha interconnection point.


Gazprom said it had received information from Ukraine that the nation will cease gas transit to Europe through the Sokhranivka interconnector at 7:00 a.m. on Wednesday local time.


The Russian corporation said that it observed no evidence of force majeure or impediments to business as usual. Gazprom emphasized that it was fulfilling its commitments to European gas purchasers.


As punishment for the invasion of Ukraine, the United States has pushed other nations to reduce their reliance on Russian energy and has prohibited Russian oil and other energy imports.


Ned Price, a spokeswoman for the U.S. State Department, said that Tuesday's declaration does not alter the "as soon as feasible" schedule for reducing global dependency on Russian oil.

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