Putin in crisis: Russia's oil and gas revenues PLUMMET as sanctions finally pay off RUSSIA'S oil and gas revenues have plummeted, suggesting Western sanctions issued in response to the country's invasion of Ukraine are having an impact on Vladimir Putin's regime. By Teresa Gottein Martinez 18:33, Wed, Aug 3, 2022 | UPDATED: 19:51, Wed, Aug 3, 2022 35 Expert says the Kremlin is worried about economic sanctions Moscow's additional oil and natural gas revenues fell below estimates, reaching 259 billion rubles (about £3.5 illion) in July, the Ministry of Finance of Russia reported Wednesday, adding that this is 74.7 billion rubles lower than projections.
Russia's behavior just confirmed that it is hit very hard by the economical sanctions. Gazprom: "Supply of gas turbine for Nord Stream pipeline impossible due to sanctions" The return of a repaired gas turbine for the Nord Stream pipeline is “impossible” due to sanctions against Russia. That is what the Russian state gas company Gazprom said. The different sanctions in Canada, the United Kingdom and the European Union and the lack of clarity "about the current situation and Siemens' contractual obligations" are the cause, according to Gazprom. Siemens, which had sent the turbine to a factory in Canada for maintenance where it became stuck due to sanctions, said earlier Wednesday that it is now up to Russia for the turbine not to be delivered. That country would have yet to submit an official request. German Chancellor Olaf Scholz also stated that Russia is holding things up. He considers Russia responsible for the problems with a gas turbine. There are no obstacles on the German side, Scholz said. Moscow is using the turbine as a "pretext" to pressure Europe with reduced gas supplies, it says. Gazprom cut gas supply via Nord Stream in two steps in June to 40 percent of normal levels. Following a planned maintenance shutdown last month, Gazprom further cut deliveries to one-fifth of its normal gas supply. Gazprom's new comments therefore fuel fears that Russia wants to turn off the gas tap to Germany completely. The German government has long accused the Kremlin of using gas supplies as a weapon. Of all European countries, Germany is the most dependent on Russian gas.
Putin increasing turning Russia into the Hotel California for foreign companies whereby "you can check out, but never leave" or at least until he says so. Putin Bans Oil Companies, Banks From Exiting Nation to Year-End Exxon and partners won’t be able to quit Sakhalin-1 oil field Many international firms consider leaving Russia over invasion The decree also orders the nation’s government to prepare a list of other energy companies and banks with foreign shareholders that may be subject to the same restrictions. https://www.bloomberg.com/news/arti...mpanies-banks-from-exiting-nation-to-year-end
Why The West Is Easing Its Sanctions On Russia While the EU remains determined to punish Russia for its invasion of Ukraine, a shortage of energy and food is forcing the group to ease sanctions. The EU has already added exemptions to its sanctions to reduce disruptions to essential goods, while the U.S. is now pushing an oil price cap instead of an embargo. More recently, it seems that the UK is increasingly hesitant about joining the oil insurance ban despite its significant market share in the industry.
ZeroHedge -- a Kremlin propaganda outlet. LOL. The reality is that the Russian economy and imports are falling through the floor. In July the export of natural gas from Russia is sinking as well. Only a few essential goods have been exempted from the sanctions on humanitarian grounds. The sanctions are working well -- an article which attempt to push talking points that the sanction are not working is laughable -- the statistics say otherwise.
https://www.reuters.com/investigates/special-report/ukraine-crisis-russia-missiles-chips/ Russian missiles contain a lot of Western technology that is now under sanctions. So they shouldn't be able to produce any more. (And frankly the West should not have supplied the parts to them prior to the war either).
Sweet! Another instance where Russia is being forced to loosen its grip on its neighbors who want to lean away from Moscow. You could argue that it will hurt them too because there is less Russian cash to inject in their regions. But not really in my view. They have lots of EU, American, and China interest in those areas- such as K-stan. This is another example of the type of thing that sets in over time with the sanctions. Everything is not about what the articificially propped up rouble is doing this week. Russia May Give Up Majority Stake in Eurasian Development Bank Kremlin holds a 66% stake in the development institution Kazakhstan may become the lender’s largest shareholder https://www.bloomberg.com/news/arti...p-majority-stake-in-eurasian-development-bank