Magical Trade
Wednesday, August 10, 2022
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Magical Trade
No Result
View All Result
Home Trade News

White House seeks energy security plan for Europe amid Russia-Ukraine crisis

by
January 25, 2022
in Trade News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Roku downgraded to underperform at MoffettNathanson despite this month’s comeback rally

Crypto criminals laundered $540 million by using a service called RenBridge to bypass exchanges

Russia’s President Vladimir Putin holds a news conference after the U.S.-Russia summit with U.S. President Joe Biden at Villa La Grange in Geneva, Switzerland, June 16, 2021.
Denis Balibouse | Reuters

WASHINGTON – The Biden administration is looking at ways to secure energy for European allies in the event that Moscow slashes its oil and gas exports in retaliation for sanctions imposed for an invasion of Ukraine.

“We’re in discussions with major natural gas producers around the globe, to understand their capacity and willingness to temporarily surge natural gas supply and to allocate these volumes to European buyers,” a senior administration official said Tuesday on a call with reporters.

“We’ve been working to identify additional volumes of non-Russian natural gas from various areas of the world from North Africa and the Middle East to Asia and the United States,” the official said, adding that European energy stockpiles are significantly lower due to reduced Russian supplies over the last few months.

The official, who declined to be named in order to share details of ongoing plans, said the administration was also coordinating with major buyers and suppliers of liquefied natural gas to ensure diversion to Europe if necessary.

“If Russia decides to weaponize its supply of natural gas or crude oil, it wouldn’t be without consequences to the Russian economy,” explained a second senior administration official on the call with reporters.

“This [Russia] is a one-dimensional economy and that means it needs oil and gas revenues at least as much as Europe needs its energy supply,” the official said, adding that oil and gas exports make up about half of Russia’s federal budget revenues.

“This is not an asymmetric advantage for Putin. It’s an interdependency,” the official said.

For months, the U.S. alongside European allies issued threats of swift and severe economic consequences if Russian President Vladimir Putin orders an invasion of Ukraine.

Last week, Biden said “a disaster” awaits Russia after intelligence agencies warned that an attack on Ukraine could happen within a month.

The intelligence assessment follows an extraordinary deployment of more than 100,000 Russian forces and equipment along Ukraine’s border. In recent weeks, the Kremlin deployed additional Russian troops to Belarus.

The buildup mimics Russian moves ahead of its 2014 illegal annexation of Crimea, a peninsula on the Black Sea, which sparked an international uproar and triggered a series of sanctions against Moscow.

“This time we’ll start at the top of the escalation ladder and stay there. We’ve made efforts to signal this intention very clearly,” one of the officials said, referencing U.S. actions taken in 2014.

The Kremlin has previously denied that it was preparing for an invasion and has characterized the troop deployment as a military exercise.

ShareTweetPin

Related Posts

Roku downgraded to underperform at MoffettNathanson despite this month’s comeback rally

by
August 10, 2022
0

Sell shares of Roku as the media player manufacturer faces pressure from increasing competition and a worsening macro backdrop, according...

Crypto criminals laundered $540 million by using a service called RenBridge to bypass exchanges

by
August 10, 2022
0

Dan Kitwood | Getty Images A major way criminals in the crypto world launder money is by sending digital assets...

Stocks making the biggest moves premarket: Wendy’s, Coinbase, Buzzfeed and more

by
August 10, 2022
0

In this article WYNN RBLX TWTR BZFD COIN WEN Check out the companies making headlines before the bell: Wendy's (WEN)...

Are you still paying 1% to your financial adviser? Here’s what might make a lot more sense — and save you tens of thousands of dollars

by
August 10, 2022
0

Are you paying too much to your financial adviser? Getty Images/iStockphoto Many financial advisers charge based on how much money...

MBA: Mortgage Applications Increase in Latest Weekly Survey

by
August 10, 2022
0

by Calculated Risk on 8/10/2022 07:00:00 AM From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications...

Next Post

January Vehicle Sales Forecast: Increase to 15.1 million SAAR

Strip-Bar Habit Worth $220,000 Hangs Over Swiss Banker on Trial

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Fund manager believes FAANG is dead — says now it’s all about MANTA

    0 shares
    Share 0 Tweet 0
  • Bank of America names its top global tech stocks — including one it says has upside of 100%

    0 shares
    Share 0 Tweet 0
  • ‘Conviction sell’: UBS says avoid these global stocks amid rising headwinds

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs "Will Higher Rates Put Out the Housing Fire?"

    0 shares
    Share 0 Tweet 0
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.magicaltrade.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.magicaltrade.net