Tues. PM KTFA News Articles 9-6-22



Samson » September 6th, 2022

Gazprom: China will pay for Russian gas in yuan and ruble

6th September, 2022

The Russian energy giant Gazprom announced on Tuesday that China will start paying for Russian gas shipments in rubles and yuan instead of dollars, at a time when Moscow seeks to strengthen its relations with Beijing in response to Western sanctions imposed on it.

Gazprom described this step as a “transition” to complete payments for Russian gas supplies to China in the national currencies of the two countries.

Alexey Miller, CEO of Gazprom, said allowing payments in Russian rubles and Chinese yuan is mutually beneficial for both Gazprom and CNPC, and will set an example for other companies to follow.  LINK

Russia is considering buying $16 billion in Chinese yuan by the end of 2022

09/05/2022 22:09:54

The Russian government is studying a proposal saying that Moscow may buy three to four billion dollars worth of Chinese yuan per month until the end of this year, to help stop the rise of the ruble.

With abundant oil revenues, Russia is studying ways to fill a shortage of reserves as it reactivates a budget rule without buying the currencies of “unfriendly” countries that froze about half of the country’s foreign reserves after Moscow sent its armed forces to Ukraine.

The purchase of currencies under the budget rule, which turns surplus oil revenues into a wealth fund, was suspended in early 2022. A decision to reactivate the budget rule needs approval from President Vladimir Putin.

Senior officials from the government, the Central Bank and major commercial banks held a meeting chaired by Prime Minister Mikhail Mishustin in Moscow on August 30 to discuss the development of the Russian financial system.

The proposal discussed by the meeting indicated that it would be feasible for Russia to buy $16 billion worth of Chinese yuan by the end of the year. But four informed sources told Reuters that no decision on buying foreign currencies was taken at that meeting. LINK

Russia reaps “fabulous” revenues thanks to oil within 30 days

6th September, 2022

The Russian Finance Ministry expected an additional budget revenue of 403.4 billion rubles (equivalent to 6.65 billion dollars) in September, thanks to the rise in oil prices.

It added that it does not plan to use the surplus revenues in the budget to buy foreign exchange or gold in the market, because such purchases under the budget rule were suspended in early 2022. Russia is considering buying the currencies of “friendly” countries such as China, India and Turkey to keep in the National Wealth Fund after losing the ability to buy dollars or euros under the budget rule due to Western sanctions.

Moscow has been conducting discounts on the price of oil for some countries such as India and China, at about 30 to 40 dollars per barrel during the month of April, and it shrank during the past month to less than 13 dollars, even in some deals it was limited to 8 dollars, and thus Russia reaps despite the low prices Global oil has gained significant gains over the past two months, more than it was reaping at an average price of $71 per barrel in 2021, despite the decline in its production and the decline in some European demand for its oil,” according to what the economic advisor and specialist in the oil and energy sectors Amer Al-Shobaki said, in an interview with “Sky.” In the normal situation, Russia is considered the third largest producer of crude oil after the United States and Saudi Arabia, with an average daily production of 11 million barrels, of which it exports about 5 million barrels per day, and 2.8 million barrels per day of derivatives.

Rystad Energy had forecast that Russia’s total oil and gas revenues for 2022 would be about $295 billion, based on the price of Brent crude. As a result, Rystad Energy estimates that the Russian government will earn $210 billion in oil and gas taxes in 2022. LINK

Western European inability to invent new sanctions against Russia

5th September, 2022

Former Swiss intelligence officer Jacques Beau asserts that Western sanctions against Russia are not working, and the proposed new restrictions are like shooting yourself in the foot.

The colonel stated in an interview with “Radio Sud”, that the Western media greatly exaggerated the losses of Russia and the forces of the Donetsk and Lugansk People’s Republics in the special operation, and refuted the myth of the “resistance movement” in the lands liberated by Moscow.

The intelligence officer indicated that the West has a strategy to divide Russia and isolate it from the international community, and said that the United States deceived Ukraine by promising to impose devastating sanctions on the Kremlin, explaining that “the goal was not the victory of Ukraine but the defeat of Russia.”

According to Bo, the sanctions imposed this year essentially repeated the experience of 2014. However, if the decline in oil prices played against Russia at that time, a reverse process is taking place now, as energy resources become more expensive. At the same time, Moscow continues to sell hydrocarbons, but now the position of Europe among the buyers is occupied by Asian countries, India and China.

Referring to an article by “Bloomberg”, Bo said that the Russian economy is in full swing, in Europe they are raising the key interest rate to stop inflation, and in Russia they are lowering it to contain the strengthening of the ruble, while business activity is growing due to the easing of monetary policy. The intelligence officer said: “The incorrect information that spread in the West led us to the trap, and Western leaders did not bother to think about the consequences of their decisions. Today, the West no longer has ideas for imposing sanctions.”

According to him, the new restriction proposals are like shooting yourself in the foot. In particular, there is talk of a possible ban on issuing visas to Russians, noting that “even the Americans opposed such a measure.” He added that the West misjudged the situation, and noted that in the United States, information about events in Ukraine is carefully filtered before it reaches viewers and readers. A total of 159 public relations firms have been assigned to this task. Europeans blindly repeat the experience of the Americans.

Bo also expressed his bewilderment over the fate of the weapons supplied to Ukraine, adding that he was not the first to raise the issue. American journalists, members of Congress and Interpol are concerned about this problem. Countries refused to provide Ukraine with drones in order to exclude the possibility of their access to the Russian army or the black market.

The author also drew attention to the fact that the West has already eased sanctions against Russia, allowing it to secure shipping and provide spare parts for civil aircraft.

The expert also said that the United States is trying to remove all competitors – not only Russia and China, but also the European Union. Washington is trying to prevent Europe from making gains. Particularly in order to prevent the strengthening of the European economy, the countries launched attacks on the “North Stream 2” gas pipeline.

In closing, Poe dispelled another myth about the nuclear threat from Russia. He pointed out that US President Joe Biden authorized the use of nuclear weapons first. LINK

The Arab League Council discusses a number of items related to Iraq

6th September, 2022

The Arab League Council at the level of Arab foreign ministers is scheduled to discuss at the meeting of the 158th session, which will be held today, Tuesday, at the headquarters of the General Secretariat in Cairo, a number of items related to Iraq, the most important of which is the draft resolution announcing the United Nations Committee that Iraq has fulfilled the last installment of his financial obligations to the United Nations Compensation Commission.

The Council will also discuss, in the presence of the Undersecretary of the Ministry of Foreign Affairs, Omar Al-Barzanji, the issue of supporting internally displaced persons in Arab countries and Iraqi displaced persons in particular.

The draft agenda for the 158th session includes other main items dealing with various political, security, legal, social, financial and administrative issues of joint Arab action. The draft agenda is topped by the report of the Secretary-General of the Arab League on the activities of the General Secretariat and the procedures for implementing the Council’s decisions between the two sessions, and the semi-annual report of the Decisions Implementation Follow-up Body and obligations.

The draft agenda also includes an item on the Palestinian cause and the Arab-Israeli conflict, and it includes a number of topics related to the political developments of the Palestinian cause, support for the budget of the State of Palestine, a report on Arab water security and Israel’s theft of water in the occupied Arab territories, and the occupied Syrian Arab Golan.   LINK

Overthrowing a network that activates its criminal operations through government banks in Maysan

09/05/2022 23:06:24

The Police Directorate of Maysan Governorate and the facilities announced Monday, that the Anti-Crime Department managed to overthrow a network that is active in its criminal operations by fraud, fraud and theft of state funds from government banks in the governorate center.

The directorate said in a statement that {Euphrates News} received a copy of it: “After receiving information from reliable sources about the presence of a group consisting of (3) individuals, including a woman who promotes transactions in government banks, and their obtaining huge sums of money by submitting forged documents to receive Advances and Loans”.

And she added, “Immediately, the Maysan Police Commander, Major General Nasser Latif Al-Asadi, ordered the formation of a task force by the Maysan crime fight, under his personal supervision, headed by the Director of the Combating Department, Colonel Haider Alwan Mahoud, and informing the investigative judge of the facts of the case to obtain fundamentalist approvals.”

The directorate continued, “The work team, through research, in-depth research, and reliance on reliable sources, began to support the procedures for the arrest process, which resulted in the overthrow of the criminal network members who were present in one of the cafes within the city of Al-Amarah.”

She pointed out that “they were seized in possession of various forged documents, a Master Card and letters of support belonging to state employees, and the accused have openly admitted the charges against them, and their statements were initially and judicially validated.”  LINK

Extortion and damage to public money..Sentence of severe imprisonment for 18 years against the former governor of Babylon

06/09/2022 15:52:55

The Commission’s Investigation Department reported the issuance of five convictions against the former governor of Babylon, indicating that the total sentences of imprisonment and severe imprisonment in absentia against the convict amounted to (18) years.

The department indicated that the Babylon Criminal Court – the third body specialized in hearing cases of integrity, issued a sentence of imprisonment for seven years and a fine of ten million dinars on the former governor of Babylon; for blackmailing the authorized director of the executing company for the “Paving Street 80 and its Subsidiaries” project; And his refusal to pay the company’s financial dues, except after paying 10% of each amount disbursed to the project. 

She added, “The court issued a sentence of severe imprisonment for five years to the convict for deliberately causing damage to public money, pointing out that he directed the Babylon Investment Authority to grant the model Hilla massacre as an investment opportunity, despite the existence of a previous book issued by the Ministry of Municipalities to offer the massacre for rent through public bidding.

The department explained that “the Hilla Misdemeanors Court, which specializes in integrity issues, issued three sentences of severe imprisonment for a period of two years, each against the former governor, for violating his job duties, by signing the administrative order for converting daily wages into contracts in the Babel Health Department, in accordance with Resolution No. (12 of 2019). ) which contains fictitious names. 

And she confirmed that “the convict was granted an exclusive investment opportunity for a real estate, contrary to Investment Law No. (13 of 2006), which stipulated the announcement of investment opportunities, in order to achieve the principle of competition between investors, as well as signing the minutes of replacing the piece allocated to the former governor of Babylon, despite the existence of a transaction A sale on the aforementioned piece in accordance with the provisions of Article (25) of the Law of Sale and Lease of State Funds No. (21 of 2013) prior to the mentioned exchange minutes. 

And it indicated, “The judgments decisions were issued in accordance with the provisions of Resolution (160 of 1983) and Articles (331 and 340) of the Penal Code, noting the issuance of arrest and investigation orders against the convict, and the placement of precautionary seizure on his movable and immovable property.”  LINK

Source: Dinar Recaps


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