By Rhod Mackenzie
During the energy crisis of 2021/23, Europe burned through gas that cost it $1.12 trillion. This amount is comparable to what the EU spent on fuel for the entire previous decade. Their victory over Russian gas turned out to be vey Pyrrhic.
“Last year, European consumers paid a...
By Rhod Mackenzie
The heads of the Central Banks of India and the United Arab Emirates (UAE) signed memorandums on the use of national currencies in cross-border transactions and transactions: Indian rupees and UAE dirhams, respectively. The statement of the Reserve Bank of India (RBI), India's ce...
By Rhod Mackenzie
India and China have absorbed almost 80% of Russian oil exports, which previously went to Europe. The Asian market has become a key one for Moscow. At first, the raw materials were sold at a significant discount. However, recently the discount for New Delhi has already been reduc...
By Rhod Mackenzie
The exports by sea of Russian oil in August may fall to an annual minimum of 2.9-3 million barrels per day, mainly due to the Baltic ports. Thus, the Russian government will fulfill its promise to reduce oil exports by 500 thousand barrels per day (b / d). The baseline for the de...
By Rhod Mackenzie
The European Union held the second round of joint gas purchases under the Energy Platform. If the first round attracted 0.7 billion cubic meters. m of gas is less than requested by buyers, then the second lagged behind the stated goals by 4 billion cubic meters. m. Russian suppl...
By Rhod Mackenzie
China's GDP expanded 6.3 percent year-on-year in the second quarter, the fastest growth in two years, taking first-half growth to 5.5 percent to 59.3 trillion yuan ($8.3 trillion). The country's economic recovery continues steadily amid headwinds including a volatile internationa...