Turkish Stream operator’s license revoked

It is ahead of schedule due to EU sanctions. The Netherlands, in another colonial operation after Nicaragua, broke diplomatic relations with them

South Stream Transport: license revoked from Turkish Stream operator due to EU sanctions.

The restrictive measures of the European Union, which came into force on September 18, led to the early revocation of the export license from the Turkish Stream operator South Stream Transport BV

The authorities of the Netherlands sent official notification of this. It is clarified that restrictive measures prohibit the supply of goods to Russia and the provision of services. And, in particular technical assistance and maintenance.

“As a result of the introduction of new sanctions, on September 18, 2022, the export license of South Stream Transport BV, the operator of the Turkish Stream offshore gas pipeline, through which Russian gas is transported through the Black Sea to consumers in Turkey and European countries, was prematurely revoked”

However, the restrictions do not restrict the further transport of the gas. Based on this, the fuel supply of various industries and millions of households in Turkey and European countries will not be affected in the short and long term, the operator stressed.

The company has already applied for the renewal of the export license. It is awaiting a response from the Dutch authorities. South Stream Transport BV said that they have every legal basis to receive an exception under the current sanctions regulation of the European Union. This is explained by the fact that the gas transported via the Turkish Stream is subsequently delivered to European countries through national gas transmission systems. It is thereby helping to ensure their energy security.

Turkish Stream is an export pipeline consisting of two lines. One is designed to supply gas from Russia through the Black Sea to Turkey. The second is for the countries of Southern and Southeastern Europe. Its design capacity reaches 31.5 billion cubic meters annually. The operation of the gas pipeline began in January 2020.

Bulgaria-Greece gas interconnector launched

The 182-kilometre-long gas interconnector between Bulgaria and Greece was put into operation today, the first of October 2022

President of Bulgaria Rumen Radev, Prime Minister of Greece Kyriakos Mitsotakis, President of the European Commission Ursula von der Leyen, President of Azerbaijan Ilham Aliyev, Prime Minister of Romania Nikolae Cuka and President of North Macedonia Stevo Pendarovski and President of Serbia, Aleksandar Vucic were present at the opening of the pipeline.

The pipeline will transport gas from Azerbaijan via the Trans-Adriatic Pipeline (TAP). And also from other sources via the planned liquefied natural gas terminal in Alexandroupolis in northern Greece.

It is worth mentioning that the US is in the process of establishing one of its major military and naval bases in Alexandroupolis. Is this coincidence? I doubt it. More about that you can read HERE.

The 182-kilometre gas pipeline, 151 kilometres in Bulgaria and 31 kilometres in Greece, stretches from the northeastern Greek city of Komotini to Stara Zagora in central Bulgaria.

The gas pipeline is starting to operate with three billion cubic meters of gas per year. And with prospects for an increase to five billion.

At the beginning of this year, with the support of the EU, Serbia started the construction of a 109 km-long gas interconnector with Bulgaria. It is between Niš and Dimitrovgrad, on the territory of Serbia. The work should be completed by September 2023. EU seems to be very keen to make Serbia more dependent on gas on itself than on Russia. Modern colonialism in action. Members of the EU surround Serbia.

Serbia is forced to participate and buy gas at higher price

With that gas pipeline, Serbia will be connected to the gas pipeline between Bulgaria and Greece. It will be able to supply gas from Azerbaijan or the LNG terminal (for liquefied natural gas) in Greece.

The Ministry of Energy of Serbia previously announced that country would agree on a capacity lease with Azerbaijan. It will have at least 1.4 billion cubic meters of gas available in 2023 if everything goes as planned.

The President of the Technical Government in Bulgaria, Galeb Donev, said it is a vital project for the two countries and the entire region. Also, for Europe to diversify the sources of gas supply. He is ignoring that both Nord Stream pipelines have been seriously damaged.

Taking into account the severe damage to the Nord Stream pipelines, right now EU is more dependent on the US for its gas supplies than it ever was on Russia. I doubt there is any better motive for the US to destroy Nord Streem than this.

Gas from Nord Stream went to Asia

The tanker loaded at Gazprom’s new LNG facility on the shores of the Gulf of Finland headed for Asia. It will carry the gas that was not supplied through the stopped Nord Stream to other consumers

Gas intended for Nord Stream started being delivered as LNG to Asia and other parts of the world. Last week, the Pskov tanker completed loading at the Portovaya LNG complex and anchored in the Baltic Sea. Vessel finder data show that the vessel was bunkered with fuel today. It indicates that it is heading towards the Egyptian port of Said. The tanker plans to arrive there on September 26. Port Said is designated as the point of arrival when travelling through the Suez Canal to Asia.

Pskov can deliver up to 100 million cubic meters of gas in the form of LNG. Also at the anchorage is another similar tanker – “Veliky Novgorod”. It will follow the Pskov to load. Both vessels delivered liquefied natural gas to India in May. 

Foreign charterers unilaterally began to refuse to execute previously concluded long-term charters

Energy Minister Nikolai Shulginov reported to the President of Russia that they had bought two tankers for gas supply to Kaliningrad. We are talking about Pskov and Nizhny Novgorod. In the event of a halt in Lithuanian transit, they will deliver LNG from the Portovaya complex to the exclave. Russian ship registration organizations closed the data on the owners of tankers.

The launch of the LNG terminal took place immediately after the complete shutdown of Nord Stream for the supply of gas through the Baltic Sea to Germany. At the Eastern Economic Forum in early September, Vitaly Markelov , deputy chairman of the board of Gazprom, told reporters that the medium-tonnage plant had begun gas liquefaction. Two production lines are in operation. The complex has already produced the first 30,000 tons of LNG (41 million cubic meters)

Good Location – next to the Nord Stream

It is located right next to the Portovaya compressor station and Nord Stream itself. The complex was initially focused on obtaining excess gas that would not be exported via the pipeline.

The capacity of the medium-sized terminal is 1.5 million tons of LNG (2 billion cubic meters of gas) per year. It cannot be compared with Nord Stream though. The complex will be able to load no more than two tankers of the Pskov and Nizhny Novgorod types per month. However, Portovaya will be a good help for Gazprom in the face of reduced pipeline gas supplies to Europe. Deliveries to the EU amount to about 90 million cubic meters per day. A year ago, their level exceeded 400 million cubic meters. Compensation for Gazprom may be the price at which gas is sold. Compared to last September, its price on European stock exchanges is at least four times higher (around $2,000 per 1000 cubic m.

It is quite possible that cargo from the new complex will go to India, which has become a victim of the sanctions war. Gazprom Marketing and Trading is to supply Indian Gail with 2.5 million tons of LNG (3.4 billion cubic meters) per year. And until June, they did it mainly from the contracted 3.5 million tons at the Yamal LNG project.

By 2025, 1/3 of European nuclear power plants will be eligible for retirement

There are 171 nuclear reactors for the production of electricity in operation on the territory of 18 countries of Europe. There are currently 12 reactors under construction, and another 26 are in the planning phase

During the 1960s and 1970s, due to the accelerated development and improvement of nuclear technologies, there was an expansion of the construction of nuclear power plants in other countries as well. That trend stagnated after the accident in Chernobyl in 1986, as well as after the accident in Fukushima in 2011, due to concerns about the safety of existing reactors and the necessity of additional safety improvements – says Vladimir Janjić, assistant director and head of inspection at the Directorate for Radiation and Nuclear Safety and Security of Serbia.

According to the time of creation and the level of technological development, nuclear reactors can be divided into four generations. Some of the key attributes that characterize each generation are, among others, the safety and security of reactors, nuclear fuel and associated systems, economic efficiency, compatibility with the national energy grid, and the life cycle of nuclear fuel.

Most of the active reactors in Europe belong to the second generation

– Most of the reactors active today in Europe belong to the second generation. They were built during the seventh and eighth decades of the last century. Over time, safety and security systems and procedures have been constantly improved. This was done in accordance with stricter regulatory requirements and international standards. So we are talking about the so-called II+ generation of reactors. From the mid-1990s and during the following decade, the application and construction of generation III and III+ reactors began. The construction of the reactors itself has been further improved. As well as the technology of production and use of nuclear fuel, thermal efficiency and safety and security systems

The fourth generation of nuclear reactors is under development. It is expected to be ready for commercial use after 2030. Many countries are also considering the construction of small modular reactors. This technology is still in the stage of development and testing. However, it is considered to be the future of the further development of the nuclear industry. Most countries decide to purchase commercially available reactors and supporting systems from Russia (Rosatom), USA (Westinghouse), France (Framatome) or Canada (Candu Energy).

– In Europe, there are 171 nuclear reactors in operation that are used for the production of electricity, in 18 countries. France has 56, Russia 38, including the Asian part, Ukraine 15, Great Britain nine, Spain and Belgium seven each, Sweden and the Czech Republic six each, Finland five, Slovakia, Hungary and Switzerland four each, Germany three, Romania and Bulgaria each two, and one each is located in Belarus, Slovenia and the Netherlands. All these nuclear power plants generate from 20 to 25 percent of the total electricity production on European soil.

Twelwe reactors are currently under construction in Europe

Currently, 12 reactors are under construction. In Great Britain, Slovakia, Russia, Ukraine, France and Belarus. Another 26 reactors are in the planning phase: in the Czech Republic, Hungary, Poland, Romania, Slovenia, Ukraine, Great Britain. To date, a total of 118 nuclear reactors in Europe have reached the end of their useful lives. They have either already been dismantled or are in the process of being decommissioned.

The working cycle of currently active nuclear reactors is on average 50 years. Many countries deciding to extend their life, based on the comprehensive condition of systems and components, economic profitability and available capacities for electricity production. It is expected that the working life of the new generations of reactors will be longer than 60 years. That will also affect the economic profitability of the construction of nuclear power plants. It is estimated that by 2025, a third of the existing nuclear reactors in Europe will be at the end of their initially planned working life.

Certain countries, such as Italy and Lithuania, have permanently shut down all their nuclear power plants or plan to do so in the near future, such as Germany and Belgium. There are countries that build energy stability mainly on nuclear technology. They will do it by building new power plants or expanding current capacities. In Austria and Denmark, just like in Serbia, laws prohibiting the construction of nuclear power plants are in force.

The biggest challenges as storing spent nuclear fuel are still unresolved

One of the main challenges of the nuclear industry is the problem of storing spent nuclear fuel and high-level waste resulting from the decommissioning of nuclear facilities. It is estimated that around 7,000 cubic meters of high-level waste is generated annually in the EU. Most countries temporarily store spent nuclear fuel and other high-level waste in surface facilities that require ongoing maintenance and monitoring. Finland is currently the only country that permanently disposes of its radioactive waste in underground geological repositories.

Alternative solutions, apart from reducing the total amount of radioactive waste, include the processing of spent nuclear fuel in order to extract unused uranium and plutonium. It can be reused for the same purposes. Currently, processing of spent nuclear fuel in Europe is carried out in France and Russia.

Russia and Turkey – partial pay for gas in rubles

Presidents of Russia and Turkey Putin and Erdogan agreed on partial payment of gas in rubles

Presidents of Russia and Turkey, Putin and Erdogan, agreed on partial payment of gas in rubles during their recent meeting.

Russian Deputy Prime Minister Alexander Novak said that Turkey promised to partially pay for Russian gas in rubles, Interfax reports.

Russian President Vladimir Putin agreed on this with Turkish leader Recep Tayyip Erdogan during talks in Sochi.

We are gradually switching to payment in national currency, part of the supplies will already be paid in Russian rubles. This is indeed a new stage that opens up new opportunities, including for the development of our monetary and financial relations.

Alexander Novak

Novak stressed that today Russia annually exports about 26 billion cubic meters of gas to Turkey.

According to him, the heads of state also discussed the financial and banking bloc and reached a number of agreements in these areas.

Today, within the framework of the talks, crucial decisions were reached, which are reaching a new level of development in our trade relations, economy, and almost all sectors.

Alexander Novak

The Deputy Prime Minister added that earlier Putin and Erdogan agreed to achieve a trade turnover of $ 100 billion a year. He noted that companies and citizens of both countries should be able to pay in national currencies during tourist trips and in the process of commodity turnover.

Putin-Erdogan talks

The meeting of the two leaders in the Sochi sanatorium “Rus” lasted more than four hours. The talks were planned to touch upon the topics of cooperation, the effectiveness of the mechanism for the export of grain from Ukrainian ports, as well as the state of affairs in Syria and Ukraine.

The politicians discussed the key importance of trusting relations between Moscow and Ankara for achieving international stability. “On regional issues, the leaders stressed the key importance of sincere, frank and trusting relations between Russia and Turkey for achieving regional and international stability,” the two leaders said in a statement following the talks.

Putin and Erdogan also confirmed the need for full compliance with the grain deal’s conditions, including lifting sanctions on the part of the food and agricultural exports from Russia.

The need to ensure the full implementation of the Istanbul package deal in accordance with its spirit and letter, including the unimpeded export of Russian grain, fertilizers and raw materials for their production, was emphasized.

Kremlin

The politicians also confirmed the will to develop bilateral relations further based on. “Despite the current regional and global challenges, the leaders reaffirmed the common will to further develop Russian-Turkish relations on the basis of respect, recognition of mutual interests and in accordance with their international obligations,” the document says.

Gas for rubles

At the end of March, Putin announced his intention to transfer payment for Russian gas supplies to European countries to rubles. Later, the government published a scheme for which payment would take place. According to it, buyers will open accounts in Gazprombank in rubles and euros, and the credit institution will independently purchase rubles in the domestic market from foreign currency payments for gas.

Subsequently, the authorities of some countries, as well as individual companies, refused to comply with these conditions. It caused Gazprom to stop deliveries to Poland, Bulgaria, Finland and the Netherlands.

In June, presidential spokesman Dmitry Peskov said that Western companies that refused to pay under the new rules had already been disconnected from Russian gas supplies.

Collapse is inevitable… A view from Russia

The President of the United States in an address to the nation publicly acknowledged the fall of the American economy, blaming Russia for this. Collapse is inevitable…

US President Joe Biden warned his fellow citizens in a recent address to the nation that they would have to suffer for democracy in Ukraine.

At the same time, he deftly linked official inflation, gigantic by the standards of the United States, with the events taking place around Ukraine. Well, as always, only Russia is to blame for this.

A very strange explanation of the situation, given that the liberals assured us that the Russian economy is only a statistical error in the overall world economy. And, in general – since 2018, Apple Corporation alone is worth more than the entire Russian economy! If you are to believe these “evaluations”.

But the US government knows better. Since the average American has to suffer for democracy in Ukraine (through frenzied inflation and rising prices for everything), then let him suffer.

Russia’s actions really affect inflation in the United States regardless. That could lead to the collapse of not only their economy, but also to the collapse of the entire modern financial system. This is due to the fact that Russia has gained sovereignty and no longer sells its natural resources for almost free, especially energy. Something that was happening during the last decade of the last century. Arrival of Putin changed that situation.

In Russia today, too, high inflation, which is 8.7%. In the US, inflation is 7.5%. But there is one big difference: in Russia, inflation is in rubles, while in the US it is in dollars.

What does it mean?

Prices for goods are always rising with us, as there is inflation. But they grow in rubles, while in dollars they, on the contrary, fall.

  • For example, just yesterday the dollar exchange rate was 77 rubles, and today it costs 80 rubles.

That is, goods produced within Russia fell in price against the dollar.

Let’s take gasoline as an example.

In 2014, a liter of 95th gasoline cost 35 rubles, or 1 dollar (the dollar exchange rate was also 35 rubles then).

Today, a liter of AI-95 gasoline costs 53 rubles, that is, $0.69 at a dollar rate of 77 rubles (or $0.66 at a rate of 80 rubles).

By manipulating the ruble exchange rate, it is possible to minimize the damage from dollar inflation within the Russian economy. Another thing is that the real incomes of citizens will decline, but the economy will only develop and grow. That is why, even with high oil prices, the ruble still does not return to its previous values ​​​​of 50 or even 30 rubles per dollar. And this will not happen as long as the US economy (and with it the EU economy) is in crisis.

  • However, the crisis in the United States did not arise because of the situation in Ukraine, as Joe Biden talks about it. Ukraine is just a good excuse to divert the attention of US citizens from the really fundamental economic problems.

The United States, like no one else, knows how to manipulate inflation and dispel any threats and risks to its economy in the global financial system.

Their freshly printed candy wrappers are supplied by market demand and supply

US economists are very smart people. They have built an economic model in which the US economy will grow and develop in almost any circumstances. And if something goes wrong, you can always print more money and pour it into the economy. Like doping.

The worst nightmare for the US economy is the deficit generated by excessive inflation. And this can happen only in one case. It is when there is not enough goods in the world that the United States needs. And it cannot be bought for any money. Under such conditions the more dollars are printed, the more expensive the desired product will be, and the more expensive the product, the more inflation will be. And it goes in spiral.

Look at the US inflation chart:

US inflation chart. 
The modern Bretton Woods financial system based on the US dollar originated in 1945

1. 1951-1954: Anglo-Iranian Oil Company in Abadan (oil crisis)

2. Arab-Jewish war (oil crisis of 1973-1974)

3. Islamic revolution in Iran (oil crisis of 1979-1980)

4. The global financial crisis of 2008 (a lot of oil)

5. Present time (physically there is not enough oil).

The real cause of the inflation

The cause of inflation in the US is the global energy crisis. All statements that US inflation is a temporary event were based on the erroneous hope that demand for hydrocarbons would soon stabilize. Today, however, it has become clear that this will not happen. As a result, the States even had to unpack their strategic oil reserves and enter the world market with it. However, all this was in vain, as the price of oil is already approaching $100 per barrel. Price of oil started rising before Ukrainian crisis. It is true that current crisis is certainly making it even worse.

Such high inflation in the USA has not been seen for more than 42 years!

The world simply no longer has enough energy resources to meet all the needs of the world economy. Russia controls around 23% of energy exports in the entire world economy (oil, gas, coal, electricity). Any provocation of Russia will only raise energy prices.

The United States is well aware of this.. Without long-term access to resources, it is impossible to contain inflation, since energy is the basis for the production of any product and service. It seems that fracking is approaching its maximum. It probably already happened. Not to mention that energy acquired by that methodology is expensive. Only weak Russia would allow plundering of its resources as during Yeltsin era. All sanctions introduced by US and EU against Russia since 2014 simply failed.

US dollar is not only currency but commodity as well

Remember the times when the price of oil reached the mark of more than $140 per barrel? But even then there was no such inflation in the US. Why? It’s simple: oil can be arbitrarily expensive – the United States will always buy it and in any quantity. But what to do if there is no physical oil? Then the price is absolutely not important – it still will not be enough for everyone.

Importance of “petro-dollar”

How is oil (and most other goods) traded on international markets? Saudi Arabia has made agreement with US that all oil trading will be in US dollar. Other oil producers (including USSR) followed. That means that anyone with need to buy oil would have to pay it in US dollar. Many were forced to buy US dollar making it become some sort of a commodity. That is aloso one of the reasons of it being “reserve currency”.

US and the rest of the “west” relied od cheap energy and commodities to support their growth, high living standard and world domination. In their greed they “exported” manufacturing industries to developing countries (China being one of them some 20 years ago). That made American rich class even richer. It also deprived American government revenue from taxes. Accelerated development of the “third world” countries also means higher demand for energy and resources.

V.V. Putin, in a recent address to the people of Russia, during which recognition of the independence of the DPR and LPR was announced, confirmed what has been obvious for a long time – US sanctions are aimed at curbing the development of Russia. Nothing to do with democracy, human rights, ot any other reasons that CNN/BBC would like you to believe.

As long as there is government in Moscow that will not allow pillaging of Russian natural resources, there will be pressure through sanctions and attempts to surreound it with unfriendly regimes in their neighborhood. Prices of natural gas went through the roof not because of Russia using it as a weapon but because someone in EU decided to go “green” overnight. It failed miserably.

Russia and China oil supplies through Kazakhstan

Russia and China signed an agreement on oil supplies through the territory of Kazakhstan for 10 years. This became known as a result of the visit of the Russian delegation headed by President Vladimir Putin to Beijing. Rosneft revealed the details of the new agreement.

Rosneft and the China National Petroleum Corporation (CNPC) have signed an agreement on the supply of oil to Chinese refineries through the territory of Kazakhstan. It will be valid for 10 years. The press service of Rosneft reported on the results of the visit of a Russian delegation led by President Vladimir Putin to Beijing on Friday.

It is specified that 100 million tons of Russian oil will be sent to refineries located in the northwestern part of China. Also during the visit, agreements were signed in the field of low-carbon development, digitalization and technological cooperation.

Rosneft’s total oil supplies to China since 2005 amounted to 442 million tons of oil. The company occupies a leading position among oil exporters to China. It is annually providing 7% of the country’s total demand for raw materials.

Russia and Mongolia moved on to the stage of designing the Soyuz Vostok gas pipeline to China. It is planned that its capacity will be up to 50 billion cubic meters of gas per year. The gas pipeline will pass through the territory of Mongolia. It will become a continuation of the Russian gas pipeline “Power of Siberia – 2”


China and Russia will strengthen integration cooperation in Eurasia

The leaders of Russia and China intend to intensify integration cooperation in Eurasia. According to a joint statement by Russian President Vladimir Putin and Chinese President Xi Jinping, published by the Kremlin press service on February 4. Moscow and Beijing have coordinated their positions on foreign policy issues.

Work on linking the development plans of the Eurasian Economic Union and the One Belt, One Road initiative is planned to be strengthened. It is noted that this is necessary to deepen practical cooperation between the EAEU and China, as well as to increase the level of interconnectedness between the Asia-Pacific and Eurasian regions.

“The parties confirm their focus on the parallel and coordinated formation of the Greater Eurasian Partnership and the construction of the Belt and Road in the interests of developing regional associations, bilateral and multilateral integration processes for the benefit of the peoples of the Eurasian continent,” the text says.

The statement also notes that Beijing  treats with understanding and supports” the proposals put forward by Moscow on the formation of long-term legally binding security guarantees in Europe. 

International Law rather than “certain rules developed in a closed circle”

Russia and China intend to jointly oppose attempts to replace international law with “certain rules developed in a “close circle” by individual countries or blocs of countries. “Putin and Jinping also stressed that countries are unanimous in understanding that “democracy is a universal human value, and not the privilege of individual states”. Therefore, attempts by “individual states to impose their” democratic standards on other countries … in fact, represent an example of trampling on democracy and retreat from its spirit and true values.

On the eve of the visit to Beijing for the opening of the Olympic Games, Putin published an article “Russia and China: A Strategic Partnership for the Future”. In that article he stated that Russian-Chinese relations have reached an unprecedented level of “comprehensive partnership and strategic interaction.” He emphasized that the foreign policy coordination of Russia and China is based on close, coinciding approaches to solving global and regional problems.