BlackMask Breaking News

WASHINGTON (Reuters) -The International Monetary Fund on Saturday said it expected to bring Ukraine’s request for $1.4 billion in emergency financing to its board for approval as early as next week and was in talks about funding options with authorities in neighboring Moldova. In a statement, the global lender said the war in Ukraine was already driving energy and grain prices higher, and had sent a wave of more than 1 million refugees to neighboring countries, while triggering unprecedented sanctions on Russia. “While the situation remains highly fluid and the outlook is subject to extraordinary uncertainty, the economic consequences are already very serious,” the IMF said in a statement after a board meeting chaired by Managing Director Kristalina Georgieva. “The ongoing war and associated sanctions will also have a severe impact on the global economy,” it warned, noting that the crisis was creating an adverse shock to inflation and economic activity at a time when price pressures were already high. It said price shocks would be felt worldwide, and authorities should provide fiscal support for poor households for whom food and fuel made up a higher proportion of expenses, adding that the economic damage would increase if the war escalated. Sweeping sanctions imposed on Russia by the United States, European countries and others would also have “a substantial impact on the global economy and financial markets, with significant spillovers to other countries.” In addition to the human toll, Ukraine was experiencing substantial economic damage, with sea ports and airports closed and damaged, and many roads and bridges damaged or destroyed. “While it is very difficult to assess financing needs precisely at this stage, it is already clear that Ukraine will face significant recovery and reconstruction costs,” it said. The board was expected to consider Ukraine’s request for $1.4 billion in emergency financing as early as next week. Ukraine also has $2.2 billion available through June under an existing stand-by arrangement, the IMF said last week. Moldova and other countries with close economic ties to Ukraine and Russia were at “particular risk” of scarcity and supply disruptions, the IMF said. It said IMF staff were actively discussing funding options with Moldova, which has requested an augmentation and rephasing of its existing $558 million IMF loan program to help meet the costs of the current crisis. NN: The world cannot stand $100+ oil..The world cannot abandoned fossil fuels for renewables whose day has not arrived yet. And as i have been screaming for YEARS the world cannot rely upon Russia or the Arabs for its critical enrgy supplies…

New York: Oil surged on Friday, ending the week at multi-year highs as Russia’s invasion of Ukraine intensified and oil buyers shunned barrels from the world’s second-largest exporter of crude. Crude prices posted their largest weekly gains since the middle of 2020, with the Brent benchmark up 21 per cent and US crude gaining 26 per cent. The most commonly traded oil futures closed at levels not seen since 2013 and 2008, respectively. Oil surged throughout the week as the United States and allies heaped sanctions on Russia that, while not aimed at Russian oil and gas sales, nonetheless squeezed its industry, and threatens a growing supply crunch in coming months. Brent futures rose $7.65, or 6.9 per cent, to settle at $118.11 a barrel, while US West Texas Intermediate (WTI) crude rose $8.01, or 7.4 per cent, to end at $115.68. That was the highest close for Brent since February 2013 and for WTI since September 2008. During the week, Brent rose to its highest intraday since May 2012 and WTI its highest since September 2008.

Russia exports 4 million to 5 million barrels of oil daily, making it the second-largest crude exporter in the world after Saudi Arabia. Traders were barely able to sell Russian oil all week, with Shell PLC on Friday the only notable buyer of a Russian cargo, which was sold at a steep $28-discount to physical Brent crude.

The tumult is likely to continue. The Biden administration, under pressure from lawmakers from both major parties, said it is considering options for cutting US imports of Russian oil even as it tries to minimize the impact on global supplies and on consumers. “While US oil imports from Russia are small in a global context,” UBS analyst Giovanni Staunovo said crude prices rallied late in the day because “some market participants might be concerned that other countries might follow that step.” Britain will look to target Russia’s energy sector in future rounds of sanctions, its foreign minister said Friday. The government has resisted this move so far, due to concerns that it will push up energy bills. Most Americans support the idea of banning Russian oil imports, with 80 per cent saying the United States should stop buying Russian oil, according to a Reuters/Ipsos poll completed on Friday. Canada banned imports of Russian oil earlier in the week. Russia’s largest buyers include China, South Korea, Germany and the Netherlands. Some refiners have stopped buying Russian oil, and trading firms are reluctant to transact with Russian sellers for fear of more sanctions. Indirect talks between Iran and the United States on reviving the 2015 Iran nuclear deal were close to reaching an agreement, the chief British envoy said on Friday as she and her French and German colleagues flew home to brief ministers. Analysts said such an agreement could add another 1 million barrels of daily supply to the market, but that would not be enough to offset declining supply from Russia. More oil supplies are set to be added from a coordinated release of just over 60 million barrels of oil reserves by developed nations, agreed this week. Japan said on Friday that it plans to release 7.5 million barrels of oil. NN: sooner rather then later… supplies will be restored and oil will plunge… Right now we got the chicken with its head cut off hysteria…. Soon goveremnt world wide will unshaken the oil industry and allow them to suck in oil from the devil himself if that is what it takes to calm the voters who are getting killed with the energy crises inducted embedded, run away inflation…..

WASHINGTON (Reuters) -The Biden administration is weighing cutting U.S. imports of Russian oil and ways to minimize the impact on global supplies and consumers, the White House said on Friday, as lawmakers fast-track a bill that would ban Russian energy imports entirely. “We are looking at ways to reduce the import of Russian oil while also making sure that we are maintaining the global supply needs out there,” White House spokeswoman Jen Psaki told reporters at a briefing. The White House remains in contact with U.S. lawmakers over the issue, she said. U.S. Senators Joe Manchin, a West Virginia Democrat, and Lisa Murkowski, an Alaska Republican, on Thursday proposed bipartisan legislation to ban Russian energy imports in response to the invasion of Ukraine, calling it a counter to Russia “weaponizing” energy. The bill is getting fast-tracked in the Senate, and the White House could rely on the legislation to ban imports, a move that would help share the blame for any price spikes. A broad bipartisan majority of Americans think the United States should stop buying Russian oil, according to a Reuters/Ipsos poll completed on Friday. Some 80% of Americans – including solid majorities of Republicans and Democrats – support the measure. Still, the White House is proceeding cautiously, concerned about a spike in gasoline prices that would add to decades-high inflation. Americans are by far the world’s heaviest consumers of gasoline, thanks to big cars, long driving distances and little public transportation in many areas, and rising gas prices have traditionally been political poison for U.S. leaders. The United States imported more than 20.4 million barrels of crude and refined products a month on average in 2021 from Russia, about 8% of U.S. liquid fuel imports, according to the Energy Information Administration (EIA). White House economic adviser Cecilia Rouse noted that while the United States does not import much Russian oil, it is still reviewing a range of possible steps. “What’s really most important is that we maintain (a) steady supply of global energy,” she said at the briefing, adding that the administration was “considering a range of options that we could take right now if we were going to cut” consumption of Russian energy. Their comments come as oil prices have soared over the past week after the United States and its allies sanctioned Russia following its invasion of Ukraine.  NN: If the Biden First act of his presidency was not to ban ALL oil permits, pipelines,  fracking, drilling and exploration on Federal lands the US would be a net exporter of oil and natural gas . WHY does the middle east, and Russia dominate oil exploration, production and exportation of oil?… Simple their are no restrictions.. The UK banned all fracking and North Sea oil and gas permits… Europe banned the Mediterranean natural gas pipeline, all oil drilling and fracking. England and German shut down Nuclear reactors whole sale. In essence they empowered Putin. Now those chickens are coming home to roost.

Army Lt. Col. Alexander Vindman (Ret.), and former director for European affairs on the National Security Council, talks about what can be done to stop Russia’s invasion of Ukraine and punish Vladimir Putin. He joins Jennifer Zabasajja on “Quicktake Charge.” (Source: Bloomberg)

Reuters) – Wall Street’s main indexes opened lower on Friday as concerns over the intensifying conflict in Ukraine overshadowed data that showed an acceleration in jobs growth last month.

The Dow Jones Industrial Average fell 139.23 points, or 0.41%, at the open to 33,655.43. The S&P 500 opened lower by 21.37 points, or 0.49%, at 4,342.12, while the Nasdaq Composite dropped 82.71 points, or 0.61%, to 13,455.23 at the opening bell.

VIENNA (AP) — The United Nations’ atomic watchdog said Thursday that it believes Iran has significantly increased its stockpile of highly enriched uranium in breach of a 2015 accord with world powers. The International Atomic Energy Agency told member nations in its confidential quarterly report that Iran has an estimated 33.2 kilograms (73.1 pounds) of uranium enriched to up to 60% fissile purity, an increase of 15.5 kilograms since November. Such highly enriched uranium can be easily refined to make atomic weapons, which is why world powers have sought to contain Tehran’s nuclear program. The 33.2-kilogram figure brings Iran closer to having enough weapons-grade uranium to produce a nuclear weapon. In a report to member states about its work in Iran seen by The Associated Press, IAEA estimated that as of Feb. 19, Iran’s stockpile of all enriched uranium was 3197.1 kilograms, an increase of 707.4 kilograms. Iran’s supreme leader calls for a halt to the war in Ukraine and blames Washington for the crisis saying Ukraine is simply the latest “victim” of US policies, pointing to Afghanistan as a previous example. The Vienna-based agency said it was unable to verify the exact size of Iran’s stockpile of enriched uranium due to limitations Tehran imposed on U.N. inspectors last year. IAEA’s monitoring and verification activities in Iran continue to be “seriously affected” by Iran’s decision to stop letting inspectors access the agency’s monitoring equipment, the report states. Senior diplomats from Britain, China, France, Germany and Russia have been meeting with Iranian officials in Vienna since November to discuss bringing Tehran back into compliance with the 2015 Joint Comprehensive Plan of Action. The pact eased sanctions on Iran in return for curbs on its nuclear program. The United States pulled out of the accord under former President Donald Trump and reimposed sanctions on Iran, prompting Tehran to resume its uranium enrichment. The IAEA announced earlier Thursday that Director General Rafael Mariano Grossi would travel to Tehran for meetings with senior Iranian officials on Saturday. Asked to characterize the cooperation with Iranian officials and whether there had been any progress, Grossi said at a Wednesday press conference in Vienna, “We are working very hard.” NN: A star is born….. In this case a death star. Now that Iran has enough material for 10 nukes, its time to make a deal……..

LONDON (Reuters) – The euro extended its falls across the board on Friday and was poised for its biggest weekly drop in seven years against the Swiss franc as investors dumped the single currency as the war in Ukraine intensified. Europe’s economy is the most vulnerable to the Russian invasion of Ukraine and investors have ramped up selling of the single currency this week as the outlook for the economy darkened. Against the Swiss franc, the euro fell 0.7%, taking its losses to more than 3% this week. That puts it on track for the biggest weekly drop since January 2015. The euro weakened 0.8% against the dollar, falling below $1.10 for the first time since May 2020. It is down more than 2.6% this wee st. and on track for its biggest loss since April 2020. A huge blaze at the site of Europe’s biggest nuclear power station was extinguished on Friday, and officials said the plant in southeastern Ukraine was operating normally after it was seized by Russian forces in fighting that caused global alarm. NN: In the trust the currency is pounds since its a English trust.  But the carry trade currency is the Euro. For two reasons… We can buy Euros very cheap and the forces of nature are aligned against the Euro for now as the worlds shits itself. Only a congenital idiot would have not seen what Russia is doing. They have been brutally  invading country after country sine Putin came to power….. His move is very calculated (including understanding the consequences) which he can stand. He truly is a evil genus… As far as Europe is concerned the Euro will  soon stabilize after this plunge and then rally back. This is not a traditional EU country problem. But is it a crises for the former Soviet States……