• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The EU will hold an emergency meeting on the 23rd to reassess the trade agreement reached between the EU and the US in 2025. The European Parliaments International Trade Committee was originally scheduled to meet on the 24th to vote on legislative proposals to advance the ratification of the trade agreement.A spokesperson for the Ministry of Commerce stated: We have noted the ruling of the U.S. Supreme Court in the tariff lawsuit and are conducting a comprehensive assessment of its content and impact. China has consistently opposed all forms of unilateral tariff increases and has repeatedly emphasized that there are no winners in a trade war, and protectionism leads nowhere. The U.S.s unilateral measures, such as reciprocal tariffs and fentanyl tariffs, violate both international trade rules and U.S. domestic law, and are not in the interests of any party. Facts have repeatedly proven that cooperation between China and the U.S. benefits both sides, while confrontation harms both. China urges the U.S. to cancel its unilateral tariffs on its trading partners. We have also noted that the U.S. is preparing alternative measures, such as trade investigations, in an attempt to maintain tariffs on its trading partners. China will closely monitor this and firmly safeguard its interests.Nasdaq futures extended their losses to 1%, S&P 500 futures are currently down 0.75%, and Dow futures are down 0.6%.Goldman Sachs: Potential easing of sanctions on Iran/Russia will accelerate the increase in crude oil inventories and release more supply in the long term, with crude oil prices expected to have a downside of 5% to 8% in the fourth quarter of 2026.Tencent Wealth Managements current account + 7-day annualized yield ranges from a maximum of 1.1850% to a minimum of 0.8410%. WeChat Pays 7-day annualized yield ranges from a maximum of 1.0930% to a minimum of 1.0220%. Alipays Yuebaos 7-day annualized yield ranges from a maximum of 1.0990% to a minimum of 1.0040%.

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

Charlie Brooks

May 11, 2022 09:46

G2.png


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.