Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
What a hoot! seasonally-adjusted fuel consumption "Progress towards an equitable world"

2nd Fin Min & CB Governor's Meeting (FMCBG), 20 Apr Washington DC
Arkansas Democrat Gazette | 20 Apr 2022, 20 Apr WaPoo Clift's note

This week's meetings -- the first gathering of the G-20 since the war began -- are emerging as a gauge of how the world's leading international bodies will respond to Russian aggression. Many of the countries in the G-20 have condemned Russia, but some of its most influential members, such as China and India, have not. And many of the world's wealthiest nations, including much of Europe [BWAH!], remain heavily dependent on Russian oil and natural gas even after the invasion, highlighting how deeply entangled Russia's economy is with the rest of the world despite the severe sanctions the United States and its allies have imposed over the war.
said Ariel Cohen, a senior fellow at the Atlantic Council's Eurasia Center[,] "I understand a lot of the delegations are not professional communicators, but they can be trained. ... They can make Russia's presence there undesirable."
WaPoo | The U.S. will boycott some G-20 meetings to protest Russia's invasion , 20 Apr full-feature company news litter
many of the world's wealthiest nations, including much of Europe, remain heavily dependent on Russian oil and natural gas even after the invasion, highlighting how deeply entangled Russia's economy is with the rest of the world despite the severe sanctions the United States and its allies have imposed over the war.
she [US Treasury Sec Yellen] will also voice our strong condemnation of Putin's brutality and make it clear that the benefits and privileges of the leading economic institutions of the world ... are reserved for countries that demonstrate respect for the core principles that underpin peace and security across the world," the Treasury Department official said.
The quandary over participation in the G-20 reflects a broader, growing problem for U.S. policymakers hoping to influence a world with increasingly powerful economic competitors. The smaller G-7 group, mostly close U.S. allies, has been more unified in condemning Russia. But as countries such as China and India have grown in economic might, Western leaders have increasingly been FORCED to COLLABORATE with them TO SWAY the global economic system. That has raised the relevance of the larger G-20, though that body remains harder for the United States to influence.
The leaders of G7 countries held a videocall with European Union and NATO officials to discuss alternatives to NATO membership for Ukraine, INCLUDING A MODEL EXCLUDING the alliance's principle of collective defense, Politico reported on Wednesday, citing a French presidential adviser.

"Our country is ready to give security guarantees," the official was quoted as saying. "These are security guarantees which, in a way, are SIMILAR to those which exist in the European Union Treaty, BUT  which are basically different from the NATO model."

G20 Sustainable Finance Private Sector Roundtable, 27-28 Apr 2022
"how the G20 can support scaling up private #SustainableFinance": equity roadshow!

PLUS representative democracies in triplicate

48th G7: CA, FR, DE, IT, JP, UK, US, EU
26-28 June 2022 program(me), Schloss Elmau, DE

17th G20: AR, AU, BR, CA, CN, FR, DE, IN, Indonesia, IT, JP, KR, MX, RU, SA, ZA, TR, UK, US, EU
"the pinnacle of the G20 process and intense work carried out within the Ministerial Meetings, Working Groups, and Engagement Groups throughout the year"
Heads of State and Government Summit, 15-16 Nov 2022, Bali

by Cat on Wed Apr 20th, 2022 at 05:02:44 PM EST
[ Parent ]
Euro to Russian Ruble

21 Feb - 1 Euro = 86.0273
20 Apr - 1 Euro = 84.3456

What's behind Russia's 'ruble clause'?

'Sapere aude'

by Oui (Oui) on Wed Apr 20th, 2022 at 05:43:08 PM EST
[ Parent ]
Most and Least Likely to Succeed!

by Cat on Wed Apr 20th, 2022 at 06:00:13 PM EST
[ Parent ]
poor Germany, ever the US bride's maid
by Cat on Wed Apr 20th, 2022 at 07:06:23 PM EST
[ Parent ]
Janet upsets Monopoly® board
stomps out with purse dog
by Cat on Wed Apr 20th, 2022 at 09:52:53 PM EST
[ Parent ]
The Hill | Yellen: European ban on Russian energy may do more harm than good, 21 Apr Rada macro
"Europe clearly needs to reduce its dependence on Russia with respect to energy, but we need to be careful when we think about a complete European ban on, say, oil imports," Yellen said.
"That would clearly raise global oil prices, it would have a damaging impact on Europe and on other parts of the world, and, counterintuitively, it could actually have very little negative impact on Russia, because although Russia might export less [to the EU], the price it gets for its exports[, of say, oil] would go up," Yellen said.
Readovka | The head of the US Treasury makes strange statements about the financing of the Armed Forces of Ukraine with Russian assets
"Proceeds from sales of oil and gas are an importantsource of income for Russia. It would be very useful to try to devise a way to reduce Russia's proceeds from those sales income," Yellen said.

"That really is the proper objective of a ban [on European purchase of, say, Russian oil]. But if we could figure out a way to do that without harming the entire globe through higher energy prices[, or, say, USD-denominated penalties added to purchase of Russian oil by "third-countries"], that would be ideal. And that's a matter that we're all trying to think through together," she continued.

archived Ukraine lobbies for cuts in Russian Nord Stream 1 gas shipments [sic]
by Cat on Thu Apr 21st, 2022 at 07:34:29 PM EST
[ Parent ]
Politico | Treasury lobbies the bankers on Ukraine, 22 Apr "bail-in"
In a private dinner at the Treasury Department, hosted by Deputy Secretary Wally Adeyemo and Ukrainian Finance Minister Serhiy Marchenko, Adeyemo encouraged the business leaders to support Treasury's efforts to aid Ukraine and bolster its economy, either by restarting existing ventures in the country or pursuing new opportunities, an agency official said. Adeyemo also encouraged the executives to provide resources to support Ukraine's reconstruction and financial needs.
archive reparations Mon Mar 28th, 2022, Wed Apr 13th, 2022
The dinner guests included representatives from Bank of America, Citigroup, Goldman Sachs, Mastercard, the Institute of International Finance[,] and the Business Roundtable.
Ukrainian officials came to Washington this week seeking a roughly $50 billion aid package to cover expected budget shortfalls over the next six months. While Western sanctions have sent the Russian economy and financial system into a tailspin, the war has also walloped Ukraine's economy, which officials said shrank an estimated 15 percent in the first quarter.

International Monetary Fund Managing [IMF] Director Kristalina Georgieva said at a Ukraine roundtable on Thursday that the fund estimates that "over the next two to three months some $5 billion a month may be needed simply to allow the government and the economy to continue to operate in the midst of the war."

archived Take the L, bro Tue Mar 1st, 2022, Mon Mar 14th, 2022
by Cat on Fri Apr 22nd, 2022 at 03:45:00 PM EST
[ Parent ]
euractiv | MEPs, Ukraine representatives call for oil embargo and broader sanctions, 20 Apr "rational system of govenment"
"The last five packages didn't work," said MEP Witold Jan Waszczykowski (European Conservatives and Reformists), chair of the European Parliament's committee tasked with liaising with Ukraine's legislative.
error #1, error #2
However, high energy prices and the continued purchase of Russian gas and oil in the first quarter of 2022 led Russia to the highest current account surplus in recent history, according to last week's data from the Central Bank of Russia.
error #3
Moreover, several MEPs expressed concerns over Russia's capacity to circumvent sanctions through partnerships [sic] with [165] third countries, in particular China.
error #4
However, the oil embargo [sic] would have a damaging impact on the economies of the [EU] member states that largely depend on Russia for their imports, such as Germany and Italy. To limit such impact, Renew MEPs called on the Commission and the EEAS for compensation measures[?] to support these EU member states
While they welcomed the EU's "ambitious plan" to impose an oil embargo [sic], Ukraine representatives invited to the debate called on the EU to focus on other forms of sanctions as well, like roaming and cyber sanctions.

Ban Russian cultural institutions

Moreover, culture should be included in the sanction regime, said Olena Khomenko, chair of [Ukraine's] sub-committee on External Economic Relations and Efficient Use of International Aid of the Verkhovna Rada.

archived Farewell, Global Gateway
by Cat on Wed Apr 20th, 2022 at 10:30:25 PM EST
[ Parent ]
We are going for a win!

Johnson en route to India ...

Boris Johnson casts doubt on possibility of negotiated peace in Ukraine

"I really don't see how the Ukrainians can easily sit down and come to some kind of accommodation," he added. "How can you negotiate with a crocodile when it's got your leg in its jaws?"

Instead, Johnson said Nato would "keep going with the strategy" of supplying Ukraine with weapons to defend itself.

England does not negotiate ...

Rees-Mogg: The UK will "reform" the Northern Ireland Brexit protocol if the EU will not, he warned, raising the possibility of a dramatic intervention after the assembly elections in a fortnight's time.

The Brexit opportunities minister said he could not reveal any more due to the sensitivities of the Stormont election in Northern Ireland.

'Sapere aude'

by Oui (Oui) on Wed Apr 20th, 2022 at 10:53:39 PM EST
[ Parent ]
Earth Day 2022 Ration messages, collected by Off-Guardian, 22 Apr
"Do we want to have peace or do we want to have the air conditioning on?"
"This Earth Day, We Could Be Helping the Environment--and Ukraine"
"During the Second World War, victory demanded more oil [...] In the wars dominating the globe today -- Putin's land grab in Ukraine, and the global land grab caused by rising sea levels and spreading deserts -- victory demands getting off fossil fuels as fast as we possibly can."
"Everyone who can work from home could continue to do so, at least on, say, Mondays, knocking a day off the national commute. Carpools could be organized, taking special advantage of the fact that there are now two million electric cars on the road. More bike paths could be made available, and, when air-conditioning season begins, Americans could turn their thermostats up a degree."
by Cat on Fri Apr 22nd, 2022 at 08:35:23 PM EST
[ Parent ]


Occasional Series