US Trade Adviser Peter Navarro’s comments came hours after US tariffs of 50% on Indian goods kicked in on Wednesday.

The tariffs, among the highest in the world, include a 25% penalty for purchase of weapons and oil from Russia which, the US claims, is a key source of funds for its war in Ukraine.

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Source: https://www.bbc.com/news/articles/c4gzd8gkr5jo

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Russia is exporting “more oil than ever” despite Western attempts to cut off one of Moscow’s economic lifelines and despite new tools and technologies that make it harder to hide energy shipments, according to analysts and observers.  Some governments, it seems, are determined to buy Russia’s oil even if they don’t support its war on Ukraine.

Robin Brooks and his colleagues at the Institute of International Finance, or IFF, built a database to track the movement of oil tankers out of Russian ports. That’s not as easy as it sounds because those tankers “are registered and flagged all over the place,” to hide their actual ownership, according to an August 25 briefing note from the association obtained by Defense One. “We trace the ultimate owner through shell companies as needed, which provides some perspective on who has been helping to ship Russian oil around the world,” the note says. “The conclusion from this work is that tanker capacity out of Russia has been robust overall.”

Brooks, the IIF’s chief economist, put it more directly on Twitter: “Russia is exporting more crude than ever.”

That may come as a surprise. Many Western oil companies ditched Russian crude after the Kremlin launched its illegal offensive on Ukraine in February. Energy prices soared past $120 a barrel; many speculated that the price could hit $150 by year’s end.

But the global benchmark price for crude oil has fallen back to $90 a barrel—and Russia is selling it for about 20 percent less. China, India, and even NATO member Turkey are buying more Russian oil than ever. Now U.S. Treasury Secretary Janet Yellen is pushing G7 nations, which together comprise about 30 percent of the global economy, to place a price cap on Russian oil, which she says would squeeze Moscow and keep global energy prices in check.

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Source: https://www.defenseone.com/technology/2022/09/russian-oil-exports-rise-governments-and-shipping-companies-play-cat-and-mouse/376720/

The post As Russian Oil Exports Rise, Governments and Shipping Companies Play Cat-and-Mouse first appeared on Garner Ted Armstrong Evangelistic Association.

Weekly Update 

Greetings from Tyler,

Not a news break goes by without mention of the Covid plague.  Dr. Fauci is on TV again, warning that people should wear masks in public settings.  Los Angeles decided against another mask mandate, but not before letting everyone know that they had the power to impose a requirement. Several cities had already announced that they wouldn’t be enforcing any masking rules.  You’d think police had something more important to do, especially in California.  Apparently we’ve been too stupid to live our lives all this time.  What would we do if we didn’t have some bureaucrat telling us what to do?  It looks like they’re not going to let Covid die a natural death, and why should they?  Never has such intrusive power been wielded over a panicked public.  

The damage that’s been done to the U. S. economy via lock-downs and mandates is incomprehensible.  Money was created and given to people who don’t want to go to work.  The frauds we’ve heard about are mind-boggling.  It seems the government always sends the money and asks questions later.  Well this was an opportunity for rampant fraud.  Now we’ve got rampant inflation, which is surely not the fault of the people running this disaster.

When Trump spoke about the trouble with Western Europe, Germany in particular, being at the mercy of the Russian pipeline the German delegation laughed at him. In Hanover, Germany they’ve shut off hot water to all public buildings and turned off the lights at night.  They’re not laughing anymore, their constituency is taking cold showers.  Wait until the weather gets cold.

Here at home we’re busy learning the new definitions of words.  Recession?  Never mind the old definition, we’re transforming the economy to sustainable energy and these hiccups are inevitable.  That’s what they’re telling us.  Interest rates have been raised this week in another attempt to tame inflation not seen since the Carter years.  Never mind, they’re saving the planet!  It’s not their fault, they expected the “transition” to be a little bumpy.  

So we’re transitioning to “clean energy.”  What a boondoggle!  Who promoted these goofballs to be guardians of the planet?  They’ve long since stopped trying to convince us that it’s a worthy cause.  Now we just have to do what we’re told.  It’s the weather patterns, it’s the fertilizer, it’s the fact that you’re using too much power.  The buffoons pushing this nonsense appear to be doing it so they can preen in newfound power and self-righteousness.  They’ve staked out the lofty offices of planetary protectors.  They’re also involved in meatless meat and other investments that they’ll recoup just as soon as we acknowledge their brilliance.  They can wait forever so far as we care.

Sri Lanka went green, now there’s anarchy.  The leaders have flown to parts unknown, and just in time.  It’s a mess, but it always is when this green stupidity is “mandated” over the population.  Farms shut down over nitrogen fertilizer.  Who knew that was what was destroying the planet?  While everything is a shambles, at least they can bask in the knowledge that they went “green.”  

There are global organizations establishing these policies.  Whether it’s health or saving the planet, the WHO and the WEF have all the answers.  To follow their logic is national suicide, but they’re not fussed. They plan to be around, directing the rest of us amid the disaster they’re promoting.  

Maybe you’ve noticed, we don’t predict the time of the “end of the world.”  But we are well aware of the events that lead up to the nightmares of the end time.  It involves nations going along with central European powers as if they’ve got all the answers.  Just do what they say, and you’ll be fine.  But we’re not going to do what they say, we’re going to talk back and disobey their mandates.  

We’re finding out that leaders of governments and important offices of nations around the world are graduates of the World Economic Forum, and they’re all bought in to all this nonsense.  It just has to be mandated throughout the nations and let the chips fall.  Everything we believe about the Bible and the U. S. Constitution tells us these guys can go jump in the lake.  It looks like they’ll find out the hard way, but we’re not going with them.  

Mark

Source: http://www.intercontinentalcog.org/fridayupdates.php

The post Weekly Update by Mark Armstrong – 29 July 2022 first appeared on Garner Ted Armstrong Evangelistic Association.

The European Union needs to cut off financing for the Russian war in Ukraine by introducing sanctions on oil exports, Ireland’s foreign minister has said.

Simon Coveney is in Luxembourg for a meeting of the EU foreign affairs council, where further sanctions against Moscow will be discussed.

Speaking as he arrived for the meeting, Mr Coveney said the EU is spending hundreds of millions of euros on Russian oil.

He said: “Ireland has maintained for quite some time that we need to take a maximalist approach to sanctions to offer the strongest deterrent to the continuation of this war and brutality.

“The European Union is spending hundreds of millions of euros importing oil from Russia. That is certainly contributing to financing this war

“We know that is very difficult for some member states and we have to keep a united position across the EU.

“We now have coal as part of the sanctions package. We know that the commission is working on a future package that we hope we can see soon that will involve oil as well.

“The European Union is spending hundreds of millions of euros importing oil from Russia. That is certainly contributing to financing this war.”

“In our view we need to cut off that financing of war even though it creates huge challenges and problems for the EU to solve together.

“We will see what the commission says. They are now working on ensuring that oil is part of the next sanctions package. We believe the sooner that can happen the better.”

EU foreign ministers are expected to take stock of EU support to Ukraine and discuss the geopolitical impact of the war on the wider region.

They will also meet the foreign ministers of Iceland and Norway on co-ordination in response to the war and will hold an informal exchange with International Criminal Court prosecutor Karim Khan and Ukrainian prosecutor general Iryna Venediktova.

Source: https://www.standard.co.uk/news/uk/russia-luxembourg-moscow-ukraine-international-criminal-court-b993659.html

The post EU must introduce oil sanctions to cut off Russia’s financial support – Coveney first appeared on Garner Ted Armstrong Evangelistic Association.