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The anti-Russian sanctions and other bizarre actions by the United States – such as bombing Germany’s critical energy infrastructure – have pushed Europe to the brink.
Deutsche Bank hasn’t collapsed yet, but it presumably will soon. We’ve passed the point of being able to contain the contagion in the banking system.
The social order has already collapsed in America. Trannies are rising up.
Meanwhile, Russia is doing great. They’ve totally managed all the problems associated with the sanctions. For the record, they also do not have trannies shooting little kids.
Russia has successfully redirected all its crude oil exports affected by Western sanctions over Ukraine to “friendly” countries, Energy Minister Nikolai Shulginov said on Tuesday, while still a decline in oil and gas output this year.
The West imposed wide-ranging sanctions, including an embargo on seaborne Russian oil imports, after Moscow sent its armed forces into Ukraine in February 2022.
“I can say today that we have managed to completely redirect the entire volume of exports affected by the embargo. There was no decrease in sales,” Shulginov told an energy forum.
Shulginov reiterated that Russian oil and gas production was expected to decline in 2023, as Moscow comes under pressure from Western restrictions and a lack of European buyers.
…
Shulginov said Russia had been working to reroute its oil and oil product exports to Asia, Africa, Latin America and the Middle East from its traditional markets in Europe.
India was the biggest buyer of Russia’s benchmark Urals grade crude in March. Deliveries to India are set to account for more than 50% of all seaborne Urals exports this month, with China in second place.
This whole thing was totally miscalculated. The US apparently did not understand that China – let alone India – would refuse to go along with their sanctions regime, and now it is worthless. It is beyond worthless, because of all the damage it is doing to Europe, and the fact that it is actually helping Russia.
The logical thing – even if they wanted to continue the war – would have been to cancel the sanctions as soon as it became clear that the Russian currency would not collapse. But instead they just kept going with it.
The US is a very powerful and rich country, built by generations of heroes. But it can only bleed like this for so long.
A day of reckoning is coming.
An important, and often overlooked, comment from ECB President Christine Lagarde: the eurozone “cannot fully recover” the wealth loss (aka terms-of-trade) due to the energy crisis. Cannot. Period.
Full speech: https://t.co/GaZx2rmhV4 pic.twitter.com/jUhGf5iTY3
— Javier Blas (@JavierBlas) March 22, 2023
