Russia’s Gazprombank freezes accounts of Venezuela’s state oil company PDVSA
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Showing posts with label Venezuela. Show all posts
Showing posts with label Venezuela. Show all posts
Monday, February 18, 2019
Tuesday, February 5, 2019
BITCOIN Currency: The dream currency is in trouble - by John Pittis
Investors in libertarian dream currency want establishment help over missing millions: Don Pittis
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Wednesday, January 23, 2019
Venezuela: EU working on joint Venezuela statement - by Ahmet Gurhan Kartal
EU member states are consulting on a
joint reaction to the latest developments in Venezuela, a statement from
French president’s office said Wednesday.
“France
is consulting with its European partners about the situation in
Venezuela, the president's office said on Wednesday as the South
American country's opposition leader declared himself interim
president,” read a statement from Emmanuel Macron’s office.
Spanish
Foreign Minister Josep Borrel said a joint statement from the EU on the
situation is important amid demands of the government from the
right-wing opposition to recognize Juan Guaido as president
.
Some
Venezuelans living in the Spanish capital of Madrid who celebrated the
developments in a main square were joined by the leader of main
opposition party, the People’s Party.
German Foreign Minister Heiko Mass also said a joint response is being worked on with EU partners.
"We call on all actors Venezuela in prudence and to refrain from violence," he said. “ [We] Will coordinate a joint response with our EU partners,” he said.
Britain’s
Minister of State at the Foreign and Commonwealth Office, Alan Duncan
said on Twitter he was “following the situation in Venezuela carefully’
and “Juan Guaido has widespread support among Venezuelans.”
He
said: “The political crisis has gone on long enough. Now is the time to
find a way forward that leads to a peaceful solution for all
Venezuelans.”
Danish Foreign Minister Anders Samuelsen also took to the Twitter.
“New
hope in Venezuela. Denmark will always support legitimate elected
democratic institutions- not least the parliamentary assembly including
Juan Guaido,” he said. “Working for a strong EU statement.”
Meanwhile,
Guy Verhofstadt, the leader of the Alliance of Liberals and Democrats
for Europe, urged the EU to recognize Guaido as president.
“The
US, Canada & many crucial EU partners in Latin American have
recognised @Jguaido as President of #Venezuela & the EU should do
the same,” he said on Twitter.
“He
is the only legitimately elected representative of the Venezuelan
people & authorities must guarantee his fundamental rights &
security,” Verhofstadt wrote.
U.S. President Donald Trump announced Wednesday that Washington would recognize opposition leader Guaido as interim president.
Venezuela’s
President Nicolas Maduro has slammed the decision and said his country
was cutting off diplomatic relations with the U.S., giving American
diplomats 72 hours to leave the country.
EU-Digest
Saturday, February 27, 2016
Oil Supply: Is there a possibility of an OPEC production cut?
The speculation surrounding the possibility of an OPEC production cut have not gone away, despite the comments from Saudi oil minister Ali al-Naimi earlier this week.
Venezuela’s oil minister stoked the markets when he said on Thursday that representatives from Russia, Saudi Arabia, Qatar, and Venezuela would meet in mid-March to discuss cooperative efforts to stabilize oil prices. Oil prices shot up more than 1 percent on the news, but there isn’t much new here to trade on.
hese countries will move forward with the production freeze, but that will likely have only a limited effect on the fundamentals in the short-term. An actual production cut remains a remote possibility for now.
Insure-Digest
Venezuela’s oil minister stoked the markets when he said on Thursday that representatives from Russia, Saudi Arabia, Qatar, and Venezuela would meet in mid-March to discuss cooperative efforts to stabilize oil prices. Oil prices shot up more than 1 percent on the news, but there isn’t much new here to trade on.
hese countries will move forward with the production freeze, but that will likely have only a limited effect on the fundamentals in the short-term. An actual production cut remains a remote possibility for now.
Insure-Digest
Sunday, January 24, 2016
Oil: Will Cheap Oil Kill Global Stability ? "No it won't say experts-Yes it will says Wall Street PR on steroids" - by Judy Dempsey
Kris Bledowski, Director of economic studies at the Manufacturers Alliance for Productivity and Innovation notes:
"The answer depends on how “stability” is defined. In political terms, one could see some instability creep in or deepen in countries where oil plays a disproportionately large fiscal role.
Yet this impact would be felt locally rather than globally, andmostly in countries with already-weak polities. Venezuela, Nigeria, or parts of the Middle East come to mind. It’s less likely that potential conflicts could spill over outside domestic or localtheaters.
The economic impact has already been felt the world over. In the United States, mining activity has depressed industrial output, while in Canada the entire economy plunged into recession in 2015 as a result of sharply lower oil prices.
At the same time, income losses are being at least partly offset by gains on the consumer end. Shifts in relative prices of major inputs or outputs occur all the time,and the world economy is resilient enough to absorb them. Overall, oil and its derivatives make up a small and declining share of unit energy costs.
If global investment flows are more unpredictable, currencies more volatile, and changes in income more pronounced, other factors should be taken into account as well. Among them are differences in monetary policies (in the United States and the EU), private debt levels (in Brazil and China), and economic governance (in Russia and Saudi Arabia).
Ian Bremmer, President and founder of Eurasia Group says:
"Did Mikhail Gorbachev’s reforms kill Soviet stability? No. They hastened the melting of frozen instability. That’s the impact of cheap oil on the Middle East, in particular the Sunni Arab petrostates and the governments that rely on their largesse.
There’s already little domestic legitimacy keeping these regimes in place. The United States has little desire toact as the region’s policeman, and nobody else is going to pick up the baton.
Communication technologies allow disenchanted young men to more easily mobilize.
And there are scant few social, economic, and political reform efforts among the governments themselves; security solutions don’t address the underlying problems. Cheap oil makes those conflicts grow sharper. And faster."
Jan Cienski, Energy and security editor at POLITICO says:
"No, cheap oil won’t kill global stability—infact, it will bolster it. That doesn’t mean low oil prices aren’t terrible news for a host of countries like Russia, Saudi Arabia, Venezuela, Angola, and other emerging markets that have built their budgets on oil exports. But as their revenues shrink, their largely autocratic rulers will have to focus more on keeping their people from rebelling over budget cuts and less on causing trouble abroad.
No, cheap oil won’t kill global stability—in fact, it will bolster it. That doesn’t mean low oil prices aren’t terrible news for a host of countries like Russia, Saudi Arabia, Venezuela, Angola, and other emerging markets that have built their budgets on oil exports.
But as their revenues shrink, their largely autocratic rulers will have to focus more on keeping their people from rebelling over budget cuts and less on causing trouble abroad."
Deborah Gordon, Director of Carnegie’s Energy and Climate Program notes: "mighty global omnipotence is often attributed to oil. But it’s unclear whether low (or high) oil prices themselves can be squarely blamed for growing global instability. Increasing oil market volatility, however, could prove to be a stronger destabilizing force.
If oil prices continue to swing wildly back and forth in the years ahead, this could confound economic, technological, and geopolitical fundamentals."
Note EU-Digest: Wall Street and the financial Industry seem to be the only ones who are saying that lower oil prices will contribute to Global Economic and Political Instability , mainly because it hurts their energy investments and market portfolio's . The drop in oil prices, however, has been very beneficial to consumers and the the economy in general.
EU-Digest
"The answer depends on how “stability” is defined. In political terms, one could see some instability creep in or deepen in countries where oil plays a disproportionately large fiscal role.
Yet this impact would be felt locally rather than globally, andmostly in countries with already-weak polities. Venezuela, Nigeria, or parts of the Middle East come to mind. It’s less likely that potential conflicts could spill over outside domestic or localtheaters.
The economic impact has already been felt the world over. In the United States, mining activity has depressed industrial output, while in Canada the entire economy plunged into recession in 2015 as a result of sharply lower oil prices.
At the same time, income losses are being at least partly offset by gains on the consumer end. Shifts in relative prices of major inputs or outputs occur all the time,and the world economy is resilient enough to absorb them. Overall, oil and its derivatives make up a small and declining share of unit energy costs.
If global investment flows are more unpredictable, currencies more volatile, and changes in income more pronounced, other factors should be taken into account as well. Among them are differences in monetary policies (in the United States and the EU), private debt levels (in Brazil and China), and economic governance (in Russia and Saudi Arabia).
Ian Bremmer, President and founder of Eurasia Group says:
"Did Mikhail Gorbachev’s reforms kill Soviet stability? No. They hastened the melting of frozen instability. That’s the impact of cheap oil on the Middle East, in particular the Sunni Arab petrostates and the governments that rely on their largesse.
There’s already little domestic legitimacy keeping these regimes in place. The United States has little desire toact as the region’s policeman, and nobody else is going to pick up the baton.
Communication technologies allow disenchanted young men to more easily mobilize.
And there are scant few social, economic, and political reform efforts among the governments themselves; security solutions don’t address the underlying problems. Cheap oil makes those conflicts grow sharper. And faster."
Jan Cienski, Energy and security editor at POLITICO says:
"No, cheap oil won’t kill global stability—infact, it will bolster it. That doesn’t mean low oil prices aren’t terrible news for a host of countries like Russia, Saudi Arabia, Venezuela, Angola, and other emerging markets that have built their budgets on oil exports. But as their revenues shrink, their largely autocratic rulers will have to focus more on keeping their people from rebelling over budget cuts and less on causing trouble abroad.
No, cheap oil won’t kill global stability—in fact, it will bolster it. That doesn’t mean low oil prices aren’t terrible news for a host of countries like Russia, Saudi Arabia, Venezuela, Angola, and other emerging markets that have built their budgets on oil exports.
But as their revenues shrink, their largely autocratic rulers will have to focus more on keeping their people from rebelling over budget cuts and less on causing trouble abroad."
Deborah Gordon, Director of Carnegie’s Energy and Climate Program notes: "mighty global omnipotence is often attributed to oil. But it’s unclear whether low (or high) oil prices themselves can be squarely blamed for growing global instability. Increasing oil market volatility, however, could prove to be a stronger destabilizing force.
If oil prices continue to swing wildly back and forth in the years ahead, this could confound economic, technological, and geopolitical fundamentals."
Note EU-Digest: Wall Street and the financial Industry seem to be the only ones who are saying that lower oil prices will contribute to Global Economic and Political Instability , mainly because it hurts their energy investments and market portfolio's . The drop in oil prices, however, has been very beneficial to consumers and the the economy in general.
EU-Digest
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