In a state of war economy, Russia has survived and is victorious in a currency war that was declared against it by the West. Urals oil exports in local currencies, mainly with China and India, as well as the failure of sanctions on Russian energy goods boosted the country’s foreign exchange reserves and prevented the …
Tag: Russia
Why the EU’s Proposal to Impose a Cap Only on Russian Natural Gas is Wrong?
In the past two weeks the structural pathologies responsible for the EU’s energy gridlock have combined with a series of extreme weather events – such as unprecedented drought – to record unimaginable energy prices. The day-ahead electricity prices in France, the EU’s traditional electricity exporting power, reached on September 2 even above 1,000€/MWh, while natural …
The Impact on the Supply Chain and the Energy Market since the War in Ukraine
The effects of the war on the supply chain are already evident and as the war continues, the situation for most countries will become more difficult. As Ukraine suspends all exports in order to focus on military operations, Russia, on the other hand, is unable to export the quantities of cereals it normally exports due …
CIPS: Why are the Chinese happy with the decisions of the EU and the US?
The decision to exclude some Russian banks from the international SWIFT payment system has caused great concern in the global financial system, as its effects are expected to be significant in a number of sectors of the economy. However, in this climate of instability and uncertainty, which is reflected in nervous liquidations in the markets, …