EUR/USD 1.15960
-0.112%
Gold 4078.41
-0.488%
Oil 59.754
0.886%
USD/JPY 152.421
0.299%
GBP/USD 1.33371
-0.142%
GBP/JPY 203.290
0.170%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Bank of Japan Executive Director Eiji Maeda: The Bank of Japan may have lagged slightly behind in responding to inflation risks.On October 23rd, Barclays economist Brian Tan said in a report that Bank Indonesia may slow its pace of rate cuts after unexpectedly keeping interest rates unchanged on Wednesday. Although Bank Indonesia indicated there is room for further rate cuts, its latest decision may indicate that the central bank is uneasy about the current level of the US dollar against the Indonesian rupiah. Barclays expects a 25 basis point rate cut in the fourth quarter and another 25 basis point cut in the first quarter of 2026, for a final rate of 4.25%. However, "uncertainty about the timing of rate cuts is high, as cuts now appear to be more dependent on the level of the US dollar against the Indonesian rupiah," Tan added.Bank of Japan Executive Director Eiji Maeda: The Bank of Japan may raise interest rates in December or January next year.According to a new Bloomberg survey on October 23rd, Bank of Japan (BOJ) observers have pushed back their predictions for the next interest rate hike, a dramatic shift from last month, when only a minority expected a hike next week. The survey showed that about 10% of 50 economists expect the Bank of Japan to raise its benchmark interest rate at the end of its two-day policy meeting on October 30th, down from 36% in the previous survey. December is the most popular timeframe, with 50% predicting a rate hike, followed by January, with 38% predicting a hike.On October 23rd, the National Energy Administration released electricity consumption data showing that in September, total electricity consumption reached 888.6 billion kWh, a year-on-year increase of 4.5%. By industry, the primary industry consumed 12.9 billion kWh, a year-on-year increase of 7.3%; the secondary industry consumed 570.5 billion kWh, a year-on-year increase of 5.7%; the tertiary industry consumed 176.5 billion kWh, a year-on-year increase of 6.3%; and urban and rural residents consumed 128.7 billion kWh, a year-on-year decrease of 2.6%. From January to September, total electricity consumption reached 776.75 billion kWh, a year-on-year increase of 4.6%.

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.

Suggestion