Nord Stream 2: german chancellor stops pipeline project in reaction of russian invasion into Ukraine

 WELT:

As a reaction to the Russian actions towards Ukraine, the federal government is stopping the Nord Stream 2 pipeline project. Chancellor Olaf Scholz (SPD ) on Tuesday in Berlin. "And without this certification, Nord Stream 2 cannot go into operation."

Scholz condemned President Vladimir Putin's decision to recognize the self-proclaimed People's Republics of Luhansk and Donetsk as independent states as a serious breach of international law. With his actions in eastern Ukraine, Putin is not only breaking the Minsk Agreement, but also the UN Charter, which provides for the preservation of the territorial integrity and sovereignty of states.

Nord Stream 2: Putin's bizarre statements at the SPIEF

 German newspaper BILD has compiled to most bizarre assertions of Putin at the SPIEF:

Lies have short legs - especially when you are the president of the largest country in the world and listen carefully to a critic from near and far.

At the Economic Forum in Saint Petersburg, Russia's ruler Vladimir Putin gave his eagerly awaited speech on Friday. Particularly important from a German point of view: its inlets to the Baltic Sea pipeline Nord Stream 2 - and the associated dwindling gas flows through Ukraine.

What Putin delivered was a mixture of half-truths and announcements that exposed his earlier promises and treaty signings as lies. Also and especially to Germany and Chancellor Angela Merkel personally, whose word supposedly carries so much weight with Russia's autocratic leader.

Claim 1: Nord Stream 2 tube completed

Putin's claim that the first strand of Nord Stream 2 was as good as finished caused the greatest excitement. Putin proudly announced: "Two and a half hours ago the laying of the first pipeline of the Nord Stream 2 gas pipeline was successfully completed."

Now all that remains to be done is to “lift and weld parts of the pipe on the Russian side. That is all, ”said Putin.

Russian governement tries to steady battered oil industry

Oilprice.com writes:

"Russia’s President Vladimir Putin has tasked the government with implementing a set of measures aimed at supporting the oil industry for the duration of the OPEC+ production cut agreement.

According to a document published on the website of the Russian presidency, the measures include a prescription not to sanction companies that stray outside their production quotas and a temporary lifting of penalties for state oil companies for not sticking to their 2020/2021 investment programs.

The document also lists “special rates” to be implemented by pipeline operator Transneft and Russian Railways for transporting crude oil and oil products for the duration of the OPEC+ deal."

You can read the rest of the piece via the below link:

https://oilprice.com/Energy/Crude-Oil/Putin-To-Bail-Out-Russian-Oil-Industry.html 

    

Oil war: Russia hit by threefold calamity

Russia is afflicted by the low oil prices but also by the economic downturn due to the Covid-19-pandemia and the stagnation of the national economy that ist hurt by sanctions; russian business leaders are becoming impatient writes german newpaper Die Welt:

"The fact that Vladimir Putin was so quick after a phone call with his counterpart Donald Trump to participate in an oil cut together with Opec and other oil countries speaks volumes. Just a month earlier, he had the Saudis blown away with this request - and thus triggered an unprecedented drop in prices from $ 66 to $ 22 per barrel of the Brent variety, because Riyadh flooded the market out of anger.

Maybe he had simply underestimated the Saudis. Just as he had underestimated the corona virus. For a long time, the Kremlin had been unimpressed and kept relatively quiet. On March 17, Putin had declared in Crimea that everything was actually under control.

In the meantime, like many other countries, things blow up in his face. More precisely: in contrast to most countries even more. It is now becoming clear that Russia is getting a triple blow. On the one hand, the economy was stagnating, among other things because of the Western sanctions and the associated isolation, with growth of 1.3 percent."

Shouting match between Putin and MBS sparked oil war

The Middle East Eye writes:

"A telephone call last month between Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman degenerated into a shouting match just before Riyadh decided to flood the market with oil in a move which sent prices spiralling.

Saudi officials with knowledge of the disastrous call told Middle East Eye that the row threatened to undo months of detente between the two countries, in which a significant arms trade was also agreed."