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Germany ‘at war’ with Russia – FM

RT | January 25, 2023

Arguing in favor of sending tanks to Kiev, German Foreign Minister Annalena Baerbock said EU countries were fighting a war against Russia. US and EU officials have previously gone out of their way to claim they were not a party to the conflict in Ukraine.

“And therefore I’ve said already in the last days – yes, we have to do more to defend Ukraine. Yes, we have to do more also on tanks,” Baerbock said during a debate at the Parliamentary Assembly of the Council of Europe (PACE) on Tuesday. “But the most important and the crucial part is that we do it together and that we do not do the blame game in Europe, because we are fighting a war against Russia and not against each other.”

While Chancellor Olaf Scholz has insisted that Germany ought to support Ukraine but avoid direct confrontation with Russia, his coalition partner Baerbock has taken a more hawkish position. According to German media, her Green Party has been in favor of sending Leopard 2 tanks to Kiev, and eventually managed to pressure Scholz into agreeing. Defense Minister Christine Lambrecht, who was reluctant to send tanks to Ukraine, was pushed to resign.

This is not the first time Baerbock has made waves with her position on the conflict. She told an EU gathering in Prague last August that she intends to deliver on her promises to Ukraine “no matter what my German voters think.”

Quoting Baerbock’s words on Wednesday, Russian Foreign Ministry spokeswoman Maria Zakharova said the West just keeps admitting that they had been planning the current conflict for years.

“If we add this to Merkel’s revelations that they were strengthening Ukraine and did not count on the Minsk agreements, then we are talking about a war against Russia that was planned in advance. Don’t say later that we didn’t warn you,” Zakharova said.

Former German chancellor Angela Merkel told German media in early December that the 2014 ceasefire brokered by Berlin and Paris was actually a ploy to “give Ukraine valuable time” for a military build-up. Former French president Francois Hollande has confirmed this, while Ukraine’s leader at that time, Pyotr Poroshenko, openly admitted it as well.

Russia’s operation in Ukraine was a “forced and last-resort response to preparations for aggression by the US and its satellites,” former Russian president Dmitry Medvedev said on Monday.

January 25, 2023 Posted by | Militarism, Russophobia | , | Leave a comment

EU’s financial support for Ukraine now just shy of €50bn

By Jerome Hughes | Press TV | January 24, 2023

Brussels – Ukrainian officials took part in a meeting of EU foreign affairs ministers on Monday via video link. An additional €500m military aid package for Kiev was confirmed, but the EU is at pains to point out that’s just a drop in the ocean compared to what the bloc has already provided since last March.

Just a few days ago in the European Parliament, the strategy was condemned.

Workers have taken to the streets of Brussels to demand peace negotiations.

EU foreign ministers adopted a fresh round of sanctions against Iran on Monday over alleged human rights abuses. The grounds for such sanctions are vehemently rejected by Tehran. Critics say the West’s policy towards Russia and Iran is being driven by Washington.

Analysts say the EU’s access to markets in these countries is being hampered due to influence from the United States, and ultimately it is ordinary citizens who are paying the price.

Also on Monday, Palestinian Prime Minister Mohammad Shtayyeh updated EU foreign ministers on the appalling situation in the occupied territories. There was absolutely no discussion on the EU side regarding possible sanctions against Israel.

January 24, 2023 Posted by | Corruption, Economics, Militarism, Progressive Hypocrite, Russophobia | , | Leave a comment

RT France Head Announces Broadcaster’s Closure After Paris Blocks Its Accounts

Sputnik – 21.01.2023

On the air in France, Belgium, Canada, Switzerland, and Mediterranean countries since 2017, RT France quickly became one of the largest alternative Francophone news broadcasters in Europe and North America. RT France was banned from broadcasting throughout the EU and Canada in early 2022 for providing a Russian perspective on the Ukraine crisis.

RT France has announced its closure after the blocking of its bank accounts in France.

“After five years of harassment, the authorities in power have achieved their goal, the closure of RT France,” the broadcaster said in a press statement tweeted out by Editor-in-Chief Xenia Fedorova on Saturday.

“Under the cover of the 9th package of sanctions against Russia, which does not target our channel, but its shareholder and parent company, the Directorate General of the Treasury decided to freeze the bank accounts of RT France, making it impossible to continue our activity,” the statement explained.

The broadcaster cited a series of recent articles and columns in French media which it said was designed to smear RT France and take it off the air.

“Clearly working with the authorities, some of our colleagues confused their role as journalists with that of policemen or judges, calling… for censorship of our media, and not hesitating to resort to false information, claiming, for example, that the activity of RT France was prohibited or illegal,” the statement said.

After an EU blanket block against Sputnik and RT in early 2022, RT France continued broadcasting online and via a Russian satellite, and its content accessed via VPN or social media.

In Saturday’s statement, the broadcaster recalled that it has been the target of forces seeking to shut it up since its launch for offering a “breath of fresh air” in an “ever-less representative and increasingly narrow media world, where critical thinking is no longer allowed.” The channel expressed pride in the “seriousness and rigor” of its coverage, and stressed its keenness to “present all opinions, give everyone a voice,” and “dare to question” – to quote its slogan.

The broadcaster emphasized that its coverage of the conflict in Ukraine – which got it banned from television broadcast in 2022, was consistently treated in a “vigilant” and “balanced way,” “whatever our detractors, who very often only rarely glanced at our channel, and obviously with a biased way, say.”

“In this particular geopolitical context, the opportunity presented itself to take advantage of this situation to (finally) gag RT France by banishing it from the European Union and from France,” despite the absence of any legal justification, the broadcaster noted.

RT France also lamented that 123 of its French employees, including 77 journalists with press cards, now risk remaining unpaid for the month of January, and losing their jobs by government decree. “Beyond the terrible economic impact for many families, there is the question of the future of media pluralism in France, its representativeness, and its independence,” as well as “the freedom of thought and expression in our society,” its statement noted.

The broadcaster emphasized that its closure, accompanied by the “deafening silence” of other French media and journalists, is an “extremely dangerous first step, because after our channel other media will be targeted.”

RT France’s bank accounts were frozen this week on the basis of European sanctions adopted last December.

The Russian Foreign Ministry warned Paris that it would retaliate unless French authorities stop “terrorizing” its journalists.

Sputnik and RT Editor-in-Chief Margarita Simonyan blasted the move to freeze the accounts on Friday, sarcastically calling it a true demonstration of “liberte, egalite et fraternite” (liberty, equality and fraternity).

RT France appealed its 2022 ban to the European Court of Justice last spring, but lost, hearing that the broadcaster needed to be silenced “at a time when opinions were forming on the war in Ukraine.”

January 21, 2023 Posted by | Civil Liberties, Full Spectrum Dominance, Russophobia | , , , | Leave a comment

The situation in African countries is deteriorating as a result of US policies

By Valery Kulikov – New Eastern Outlook – 20.01.2023 

In the last few years the USA and its Western allies have been making increasingly overt attempts to put pressure on Africa in a bid to stop the continent turning towards Russia and China.

The situation in African countries has started to deteriorate seriously as a result of the West’s thoughtless and self-serving sanctions against Russia, which have caused the continent problems in a number of areas, including that of food security. For example purely as a result of having to buy wheat from Argentina rather than from Russia, Angola has lost more than $15 million since the beginning of Moscow’s special operation to denazify the criminal regime in Ukraine and the West’s imposition of sanctions against Russia.

According to an announcement made by Turkey’s Minister of Agriculture Vahit Kirişci, since the signing of the “grain deal” 16.9 million tons of grain, carried by 633 ships, have been exported from Ukraine through the marine humanitarian corridor established under the deal. However, just 5.4% of the exported grain has found its way to poor nations, including African nations, despite the West’s insistence that the deal would prioritize shipments to these countries.

As for Russia, despite the restrictions imposed on it by the West, it has been able to export more than 15 million tons of grain as well as large volumes of mineral fertilizer, much of it intended for poor countries. Moreover, in discussions between Russian President Vladimir Putin and his Turkish counterpart Recep Erdoğan last November, it was decided to supply grain to the poorest African nations free of charge.

According to Saudi media it is the events in Ukraine and the anti-Russian policies of the West that are to blame for the sharp rise in food prices in 2022 (wheat, rice, maize, vegetable oil etc.) and the resulting famine that caused widespread suffering, especially in the world’s poorest countries. By tightening their financial policies the developed nations have reduced the flow of funds to poor countries, and the departure of foreign investment has significantly exacerbated the food crisis – a problem which, even in 2023, will be particularly challenging to overcome. In March 2022 global food prices reached their highest ever level. According to statistics published by the media, global spending of food imports amounted to almost $2 trillion in 2022, significantly more than in previous years. Shortages of wheat and fertilizer have caused price increases and raised the cost of importing food for the most vulnerable sections of society (by more than $25 billion). State support for low income families has been unable to raise their standards of living, as most of the subsidies granted have been eaten up by rising food prices. Jasper Okodi, a consultant to the UN’s Food and Agriculture Organization (FAO), has stated that even if global prices fall the price of foods in local markets in unlikely to fall until the third quarter of 2023.

Unlike the West, Russia has been a trusted partner to African states for many decades. From the mid 20th Century onwards, as African nations achieved independence from the yoke of their former colonial masters, the Soviet Union provided them with a great deal of disinterested support, building up their social and economic infrastructure. As representatives of the African nations themselves insist, Russia has never been involved in schemes to rob Africans of their natural wealth, and has never applied political pressure in an attempt to gain economic benefits. In the current highly challenging conditions posed by the anti-Russian policies of the USA and its western allies, African leaders clearly understand that Russia, despite the aggressive and immoral opposition of the West, is fighting to bring about a just world order. It is also fighting the USA’s overt propaganda campaign, which is based on disinformation and lies about Moscow’s policies. Speaking on this and other issues at a meeting of the UN Security Council on January 10, Anna Evstigneeva, Deputy Permanent Representative of the Russian Federation, categorically rejected the West’s attempts to discredit Russia’s assistance to African nations by falsely accusing it of appropriating African resources or contributing to the growth of terrorism in the continent.

Many African politicians have emphasized that while France, Britain and the USA are now losing their influence in Africa, in the past, when these countries dominated the continent, it was very difficult for Africans to stand up against Western neo-colonialism. But now the world order is changing and the African nations are able to breathe freely at last.

In an article published at the end of December The Times was forced to admit that 22 African nations refused to censure Russia’s special operation to protect residents in the Donbass at the UN General Assembly, and that in the light of current international feelings Moscow was winning more and more sympathy in the world’s most rapidly developing continent. The Times also recognized that the West has already lost the battle for Africa and that Africans are turning away from their former colonial powers and towards Russia, China, Turkey and the Persian Gulf States.

The struggle between the USA and Russia for influence in Africa took a new turn when South Africa’s president took on the chairmanship of the BRICS group and the country’s ruling party proposed inviting new members from among the world’s major developing nations to join the grouping. As the South African President Cyril Ramaphosa said, “The BRICS group should lead the process of reforming the entire international architecture for the benefit of most countries in the world, and this group has an important role to play in leading the creation of new decision-making mechanisms in the UN and other international organizations to establish a more inclusive, just and sustainable world order.” And that will certainly end the global dominion of the West and particularly of the USA, which is why the USA is opposing such reform.

Washington is particularly critical of the plans for Russia, South Africa and China to hold joint naval exercises – known by the code name Mosi – in the Indian Ocean off the Southern African coast from February 17 to 26. The exercises will include artillery practice and anti-aircraft drills. Similar joint naval exercises were held in November 2019 in the South Atlantic ocean, off the Cape of Good Hope, not far from Cape Town.

In view of the above background and specifically Washington’s growing opposition to African countries’ good relations with Russia, Thandi Modise, South Africa’s Minister of Defense and Military Veterans was recently impelled to accuse the USA of putting pressure on those African nations that maintain good relations with Russia. The Wall Street Journal admitted the truth of this accusation in a recent article on the US reaction to the docking of the Russian cargo ship Lady R at a South African port.

The West understands that Russia has an interest in maintaining international relations with strong, self-sufficient and economically independent partner countries – including in Africa – which are able to ignore the West’s threats of repressive measures and work as allies of Moscow in the creation of a new multipolar world order. But it is precisely this process that the West fears, and it is imposing all the illegitimate sanctions that it can devise in order to impose its neocolonial policies in Africa.

January 20, 2023 Posted by | Economics, Russophobia | , , , , | Leave a comment

RT Bank Accounts Frozen in France at Paris’ Behest

Samizdat – 20.01.2023

MOSCOW – Bank accounts of the RT France broadcaster’s desk have been frozen in France, Ksenia Fedorova, the broadcaster’s editor-in-chief, said on Friday, adding that the bank refers to the authorities’ order.

“We have received a letter from our bank regarding the freezing of RT France accounts by order of the French authorities in connection with the ninth round of sanctions adopted in December. Despite the fact that RT France is not on the list and has the right to operate in France, such a decision effectively paralyzes our activities,” Fedorova said in a statement.

Earlier, the head of the European Federation of Journalists, Ricardo Gutierrez, said that banning Russian media in the EU, including RT and Sputnik, “created a dangerous precedent that threatens press freedom”.

In early December, the French Council of State ordered the media regulator Arcom to reconsider its decision to continue broadcasting Russian TV channels Rossiya 1, NTV, and Channel One in Russia and Ukraine by the French satellite operator Eutelsat at the request of Reporters Without Borders (RSF).

Relations between Russian media and the West have become increasingly difficult in recent years. In November 2016, the European Parliament adopted a resolution stating the need to counter Russian media, with Sputnik and RT cited as the main threats in the document.

A number of western politicians, including US senators and congressmen, as well as the French president, accused Sputnik and RT of interfering in the US and French elections, but did not provide any evidence. Russian officials said such allegations were unsubstantiated.

January 20, 2023 Posted by | Civil Liberties, Full Spectrum Dominance, Russophobia | | Leave a comment

The Anglo-American War on Russia – Part Four (Targeting Ukraine)

Tales of the American Empire | January 19, 2023

In 2008, American President George Bush officially announced plans to add the nation of Ukraine to his empire. This would strike a serious blow to Russia by cutting its access to southern Europe. Ukraine was a key Russian trading partner that controlled most access to the Black Sea and most natural gas pipelines to Europe. It is the second largest nation in Europe by size with significant oil, natural gas, and coal reserves.

Most Ukrainians speak Russian as their primary language. They consider Russia a sister nation, much like the relationship between the United States and Canada. After allowing Ukraine to become a separate nation in 1991, Russia assisted Ukraine with discounted oil and natural gas. Most Ukrainians didn’t want to join NATO, so in 2010 elected a President who opposed this effort. As a result, the US government began a massive campaign to demonize Russia and destabilize the democratic government of Ukraine.

________________________________

“California NG and Ukraine; 23 Years of Partnership”; US Army; Whitney Hughes; US Army; July 11, 2016; https://www.army.mil/article/171273/c…

“Ukrainians complete mission in Iraq”; Rodney Foliente; US Army; December 11, 2008; https://www.army.mil/article/15056/uk…

The US Army’s huge effort to secure Ukraine can be seen in the one thousand articles posted at its website: https://search.usa.gov/search?affilia…

“Founding Act”; an official NATO-Russian agreement; May 27, 1997; https://www.nato.int/cps/cn/natohq/of…

“Why Was Hunter Paying Joe Biden 50k Per Month to Rent House?”; Tyler Durden; Zerohedge; January 15, 2023; https://www.zerohedge.com/political/w…

Related Tales: “The Anglo-American War on Russia”; https://www.youtube.com/playlist?list…

January 20, 2023 Posted by | Militarism, Russophobia, Timeless or most popular, Video | , , | Leave a comment

UK circumventing its own sanctions against Moscow to import Russian oil

By Drago Bosnic | January 18, 2023

It is now virtually common knowledge that the political West’s attempts to destroy the Russian economy through sanctions have failed spectacularly. However, what the Western mainstream propaganda machine is fighting tooth and nail to accomplish is suppressing the fact that the sanctions war has also backfired and is now ravaging Western economies, especially those whose prosperity was largely based on access to cheap Russian energy. This is particularly true for Germany, the European Union’s industrial powerhouse which is now suffering the consequences of its suicidal subservience to Euro-Atlantic Russophobia.

However, what’s much less commonly acknowledged is the fact that there are many countries that don’t seem to be too dependent on Russian energy, but are in fact suffering as a result of the sanctions war against Moscow. This is especially true for the United Kingdom, whose political establishment is one of the most fervently Russophobic in NATO. With London being one of the Kiev regime’s key backers, it would be expected to see the former colonial superpower much less dependent on any commodities coming from Russia. Still, Moscow’s status as the world’s premier energy superpower makes this extremely difficult (if not impossible) to achieve.

In order to tackle the mounting energy security issues, exacerbated not only by anti-Russian sanctions, but also by the economic fallout of the COVID-19 pandemic, the UK is now resorting to finding loopholes to circumvent its own sanctions against the Eurasian giant. The escalation of the Ukrainian crisis has led to a dramatic reshaping of European (and, indeed, global) energy markets, with the political West declaring its intention to cut dependency on Russian energy imports. Expectedly, the UK was at forefront of this effort and was even hailed as “one of the most successful countries” in achieving this after it officially stopped importing Russian oil and coal, while also imposing an outright ban on Russian natural gas.

By October last year, London’s imports of Russian energy were officially cut to almost nothing, with approximately $2.5 million of oil purchases and virtually no coal or natural gas from Russia. However, recent revelations cast serious doubt on these numbers, indicating that the UK’s claims mostly boil down to simple semantics. According to reports by various sources, the UK is not importing oil (directly) from Russia, but it still keeps importing Russian oil. This is possible thanks to third countries (India being one of them) that are now re-exporting Russian-sourced oil to the UK and others in the political West. This has provided a very convenient back door for imports of Russian oil into the country, while also being quite lucrative for third parties.

According to Kpler, India’s Jamnagar refinery, operating on the west coast of Gujarat, imported 215 shipments of Russian crude in 2022, which represents a 400% increase in comparison to 2021. At the same time, British companies have imported approximately ten million barrels of diesel and other refined oil products from Jamnagar since February 2022, which is an increase of more than 250% of what they bought from the Indian refinery during the previous year. The data indicates that this can only be explained by a much larger share of Russian oil being refined and then exported to the UK and elsewhere.

More importantly for Britain, this move is blunting the disastrous effects of energy shortages in the UK, a problem that is now affecting many other countries that have been forced to impose sanctions on Russia, often coerced into it by London itself. British companies have simply replaced imports directly from Russia with imports from third-party refineries that are buying Russian crude. Although there’s nothing illegal in such a framework, it’s still quite indicative of the UK government’s hypocrisy. London has been exerting tremendous pressure on others to stop importing Russian energy (Hungary perhaps being the best example of this), while secretly doing just the opposite.

Prior to Moscow’s counteroffensive against NATO aggression, India wasn’t particularly known for importing Russian energy, while it was even less common for its oil refineries to process Russian crude. Indian companies have always been oriented towards exporting refined oil to Europe, but their supplies to the old continent have skyrocketed as the demand is still there and someone needs to fill the gap. This is quite profitable for India, as prices in the EU are quite high, while Russia is supplying the Asian giant with record amounts of discounted crude. Meanwhile, British companies are turning a blind eye to this fact, as they need guaranteed energy supplies, so everybody seems content with this arrangement – except Kiev.

Oleg Ustenko, one of Volodymyr Zelensky’s advisers, is accusing the UK companies of “exploiting weaknesses in the sanctions regime”.

“The UK must close the loopholes that undermine support for Ukraine by allowing bloody fossil fuels to continue flowing across our borders. About one in five barrels of the crude oil that they process is Russian. A big chunk of that diesel they produce now will be based on Russian crude oil,” Ustenko stated.

It remains to be seen if the UK will ever respond to these demands, as they don’t seem to be particularly important to London. It’s quite clear that even if one of the Neo-Nazi junta’s top overlords were to proceed with closing the existing loopholes, the idea that the UK won’t find new ones is downright laughable, as it would’ve never tried bypassing its own sanctions in the first place.

Drago Bosnic is an independent geopolitical and military analyst.

January 18, 2023 Posted by | Economics, Progressive Hypocrite, Russophobia | , | Leave a comment

EU sanctions goal is to crush Russian economy – Von der Leyen

RT | January 17, 20023

EU sanctions are aimed at plunging the Russian economy into a recession for years to come and depriving the country of crucial technologies, European Commission President Ursula von der Leyen said in an address to the World Economic Forum (WEF) in Davos on Tuesday.

The European bloc has imposed nine rounds of sanctions against Russia since the beginning of the conflict in Ukraine, targeting many sectors of the economy, including energy, high-tech, aviation, banking, mining, automotive and other industries.

“We have put in place the strongest sanctions ever, which leave the Russian economy facing a decade of regression and its industry starved of any modern and critical technologies,” von der Leyen said.

The latest restrictions came into force in December and include new export controls and restrictions on dual-use goods and technology, along with products and technology that could be used in the defense and security sectors. The measures target key chemicals, nerve agents, night-vision and radio-navigation equipment, as well as electronics and IT components.

Brussels is now working on the next batch of penalties, which will reportedly target Russia’s nuclear industry and diamond trade. Other penalties which the EU is rushing to symbolically implement by February 24 include cutting more Russian banks off from the SWIFT global messaging system and banning more of the country’s media outlets.

Meanwhile, Russian President Vladimir Putin said on Tuesday that the country’s economy is performing “much better than what not only our opponents but even we ourselves predicted” and is on course for further stabilization.

January 17, 2023 Posted by | Economics, Russophobia | , | Leave a comment

Isn’t it Time For Adam Schiff to be Expelled From Congress?

By Ron Paul | January 16, 2023

With each new release of the “Twitter Files” we learn more and more about the deep corruption in Washington. We sensed during Covid that something was really wrong – for example the bizarre denial of natural immunity. But thanks to Elon Musk’s decision to open the books, our worst fears have been proven true. Each new release seems to show something even more criminal inside America’s rotten ruling class.

In the latest release, thanks to the excellent reporting of independent journalist Matt Taibbi, we see outgoing Chair of the House Intelligence Committee, Rep. Adam Schiff (D-CA), continuously pressuring Twitter to validate his fantasies of “Russian bots” manipulating US politics.

The short version of what Taibbi reported comes from around the time then-Chairman of the House Intelligence Committee Rep. Devin Nunes (R-CA) was about to release his Committee’s findings about the FBI misuse of the FISA Court to spy on the Trump presidential campaign. The FBI, it turns out, relied exclusively on the widely-discredited “Steele Dossier” – paid by the Hillary Clinton campaign – as justification to spy on the Trump campaign.

When pressure grew to release the Nunes findings, Twitter exploded with users demanding that Congress “release the memo.” That’s where then-ranking Member Schiff and his staff began relentlessly pressuring Twitter to show that the accounts demanding the release of the memo were actually Russian agents, out to help their supposed favorite, Donald Trump. Schiff was not alone. Fellow “Russiagate” hoaxers like Sen. Feinstein (D-CA) and Sen. Richard Blumenthal (D-CT) also pressured Twitter to find Russians behind the demand to release Nunes’ findings.

Over and over, Twitter – which was hardly sympathetic to Trump – told Schiff and his colleagues there was simply no evidence of Russian involvement. As much as some Twitter employees may have liked to report the opposite, to their credit they refused to participate in the scam.

Even after Twitter had informed Schiff and his fellow hoaxers that there was no Russian involvement, Sen. Blumenthal released a statement he knew was not true: “We find it reprehensible that Russian agents have so eagerly manipulated innocent Americans.” Again, this was right after he had been informed by Twitter employees – who were by-and-large strongly opposed to Trump – that there was just no evidence to back up such a statement.

We are moving closer and closer to a nuclear showdown with Russia over Ukraine. For political gain the Democrats – and plenty of Republicans – have been pushing the “Russiagate” hoax and in so doing have fertilized the ground for the obsessive Russia hatred prevalent in the US today.

I do not believe it is an exaggeration to say that if US/Russia relations had not been poisoned by the lie of “Russiagate” for pure political gain, we would not be anywhere near our current state of near-direct conflict with the largest nuclear power on earth, Russia.

It is shocking that Schiff and his “Russiagate” allies would potentially sacrifice millions of dead Americans to defeat Trump and other political enemies.

Let’s not forget: Rep. Jim Trafficant was expelled from Congress for asking his staffers to wash his boat. Shouldn’t there be at least equal punishment for Senators and Members who are lying us into World War III?

Copyright © 2023 by RonPaul Institute

January 16, 2023 Posted by | Deception, Russophobia, Timeless or most popular | | Leave a comment

European Steel Industry Facing Potential Collapse

By Paul Homewood | Not A Lot Of People Know That | January 13, 2023

Seeking Alpha, an investment advice website, has rather bad news for the European steel industry.

Vale, by the way, are the world’s largest producer of iron ore:

Summary:

  • The EU steel industry seems set to shrink dramatically, squeezed by environmental policies, and a seemingly permanent energy crisis situation that makes production costs unsustainable.
  • Vale is mostly shielded from the kind of problems faced by companies that have extensive exposure to Europe, given its mostly Americas-based production infrastructure.
  • The prospects of the European steel industry being decimated should help to keep global steel prices relatively high, which should counterintuitively keep iron ore prices high as well.

Investment thesis: There are growing signs that the European steel industry can potentially collapse, becoming just a shell of itself. Vale is shielded from the problems facing companies that have business ties exposure to the European energy crisis, which is compounded by increasingly draconian environmental policies that make it hard for energy-intensive companies to operate. At the moment the EU steel industry, as well as many other industries are kept afloat by hundreds of billions of euros in aid & subsidies, which is not sustainable in the long term. The assumed collapse in EU steel production is a positive factor for those miners supplying the steel companies, such as Vale that are not directly exposed to the difficulties that the European-based steel production facilities are faced with. On the back of assumed higher global steel prices, Vale stock is likely to see more long-term price appreciation, while the very generous dividend is less likely to be cut.

The European steel industry is already working under draconian environmental regulations and carbon taxes which put it at a disadvantage with foreign steel mills. And now of course high energy prices are putting the whole existence of the industry at risk.

Meanwhile the climate zealots who run the EU and UK want steel businesses to spend billions more to close down the efficient manufacturing processes which actually work, and replace them with low carbon technology, all enforced by crippling carbon taxes.

The net result will, of course, be importing more steel from Asia, made with much greater emissions.

January 14, 2023 Posted by | Economics, Russophobia | | Leave a comment

Almost all Hungarians oppose sanctions on Russia – survey

RT | January 14, 2023

The overwhelming majority of Hungarians are opposed to sanctions the West has imposed on Russia over Ukraine and believe that they are detrimental to the economy, the nation’s government said on Saturday, citing the results of a countrywide questionnaire, or “consultation.”

In a Facebook post, the Hungarian government revealed that “97% of Hungarians reject sanctions that cause serious damage,“ adding that “The message is clear: the Brussels sanctions policy must be reviewed.”

Szentkiralyi Alexandra, a government spokeswoman, said that the restrictions the EU had imposed on Russia over Ukraine had failed to stop the conflict, but caused a lot of economic issues for Europe. In this vein, Hungarians tend to reject oil restrictions and planned gas sanctions, she noted.

“The people taking part in the consultation say a clear ‘no’ to sanctions that further increase food prices or place additional burdens on European tourism,” Szentkiralyi added.

The spokeswoman pointed out that Hungary is the first EU country to poll its citizens about the sanctions’ impact. She also described the consultation as “a guideline for Hungarian public actors,” with the results set to be delivered to EU authorities in Brussels. “This is quite necessary because they want to introduce new sanctions instead of revising the sanctions policy,” Szentkiralyi explained.

She went on to thank about 1.4 million people that took part in the survey, noting that detailed results would be released in the near future. The consultation on the matter was launched in mid-October and included seven questions about sanctions on the oil, gas, raw materials export, and nuclear and tourism spheres.

In recent months, the sanctions the West imposed on Russia over the Ukraine conflict have exacerbated Europe’s energy crisis, causing fuel prices and costs of living to surge.

Hungary, which is heavily dependent on Russian energy, has long been critical of EU sanctions policy. On Friday, Hungarian Prime Minister Viktor Orban said that by promoting sanctions in the bloc, German politicians had “miscalculated,” but do not have the courage to admit that.

Last month, Russian Finance Minister Anton Siluanov said that the sanctions were taking a heavy toll on the European economy. He also claimed the US was the only nation benefiting from them, since it has been selling liquified natural gas to Europe at lucrative prices.

January 14, 2023 Posted by | Malthusian Ideology, Phony Scarcity, Russophobia | , | Leave a comment