Higher supplies to the UK lift Swiss October gold exports
Supplies from Switzerland to Britain in October reached the highest level since June 2021.
Ukraine is facing a potential shortage of coal supplies just as it finds itself in the icy grip of winter.
With the rich coal seams of Eastern Ukraine under rebel control and Russia cutting off supplies of the heating fuel, the country may have to turn to its enemy, Mother Russia, for help, Agence France Press reported over the weekend.
According to AFP, Ukraine gets 40 percent of its power from coal-fired plants and usually has a coal surplus, with the latest figures showing production of 86 million tonnes in 2012. But Russian-backed rebels have cut the new, Petro Poroshenko-led government off from the coal-producing region of Donbass.
“I don’t know for how long Russia intends to stop coal deliveries. If it stops them for a long period, our thermal stations will not be able to function at full power,” Ukraine’s Energy Minister Yuriy Prodan was quoted as saying.
The country needs a million tonnes of anthracite coal per month for its power stations, but as of Nov. 24, only 1.8 million tonnes were in reserve, according to AFP.
That leaves Ukraine the option of shipping coal from abroad, buying coal from Russia, or buying it from the rebels, against whom the government’s army is fighting.
It’s the second time in recent months that Ukraine has faced an energy crisis over frigid relations with Russia. In June, following the election of Poroshenko to the presidency, Russia cut off natural gas supplies to Ukraine.
But on Oct. 30, Ukraine, Russia and the European Union reached a deal whereby Russia would resume supplies of natural gas to Ukraine in return for payments funded partly by Kiev’s Western creditors.
9 Comments
Donatella
“I don’t know for how long Russia intends to stop coal deliveries.’
Russia isn’t stopping any deliveries. It’s the Ukrainian citizens in the east that don’t like being bombed by the Kiev fascists that are holding back shipments.
“In June, following the election of Poroshenko to the presidency, Russia cut off natural gas supplies to Ukraine.”
Russia stopped gas flow because Ukraine owed billions of dollars and refused to pay. Let the Western powers who overthrew the elected government in Kiev pay for the natural gas.
Steve
It’s hard to pay your bills when the former President and his cronies stole billions of dollars from the national treasury. Why do you think he got chased out… one of the many reasons.
CWK
The Russians offered Ukraine under Yanukovych $13bn and cheap gas to tide them over, even though they hadn’t paid their bills. The EU offered them $2bn. Yanukovych took the $13 bn, so he had to go. Victoria Nuland, US Asst Secretary of State was distributing cookies to the demonstrators and was recorded discussing with the US ambassador who would be the next president. Who was shooting both demonstrators and police during the demonstrations? Who gets propaganda benefits from shooting down MH14 and where’s the report after all the blame on Russia? Why blame Russia for continuing violence in the East when it’s the Kiev government that’s doing the attacking?
The fact is that the US, that spent $5bn on political intervention in Ukraine, wants its TTIP agreement with the EU and wants Russia, Europe’s natural trading partner, that has all the resources, isolated. TTIP is a license to loot Europe. Spiegel has a great lunchtime read of the diplomacy behind the Ukrainian mess, although it leaves out the USA’s role. http://www.spiegel.de/international/europe/war-in-ukraine-a-result-of-misunderstandings-between-europe-and-russia-a-1004706.html Wider warfare is possible – remember Georgia.
Central banks are now buying physical gold and want overseas holdings repatriated. ETFs are selling so it’s leaving private hands. The US paper market now has the hard stuff below the average cost of production at a time when the US can’t afford to raise interest rates above zero, the EU and US central banks are buying in assets to keep markets afloat, money printing is out of control, we have a hot war in Europe and potential war with Russia. The dollar and euro are now so discredited, the IMF is issuing SDR loans in the hope that we don’t know that they’re also just imaginary money. The gold price is the traditional measure of instability so something’s very wrong.
Gibe Sushi
Russia hasn’t started shipping gas to ukraine. Ukraine is also in a financial crisis and its only source of income is IMF funds. All its cash producing regions Crimea Donetsk Lugansk have seperated and there are huge strikes and protests in Kharkiv and Odessa which is making the cities loose more money then make.
Jonson.joe
Wow, Kremlin propaganda working full tilt here in the comments! “Russian-backed rebels” are 80% russian regular troops dressed in non-marked uniforms and riding russian army tanks with unit numbers painted over. The rebels have new T-72B russian tanks and “Tornado” rocked-proppeled artillery (these things are not even exported from Russia). There are 1000s of pictures and videos on youtube, just google it.
The coal from eastern Ukraine is being mined at “rebel” gunpoint and shipped straight to Russia. Ukraines eastern border is completely open, so obviously there are no duties and noone keeps track of the numbers. The miners are not even getting their salary anyomore, they get paid with food. Think about this for a second, compare this to the West where a miner clears 100k a month easy.
“Kiev fascist” is a Putin propaganda term. If you believe the Russian media then you will think that people in Ukraine are being killed just cuz they speak Russian. Which is a joke! Half the of Ukraine speeks Russian, and not just in eastern Ukraine. If this claim of “fascism” was true you would hear about ethnic-based violence in all of Ukraine.
I invite anyone who wants to see the scale of Kremlin propaganda to use google translate and take a look at any news website ending with “.ru”. You will be amazed to find out that:
– MH17 was shot down not by a russian BUK surface-to-air missle, but by a Ukrainian jet. They even have a nice photoshop proove it 🙂
– Ukrainian government are “fascists”, who crucify little Russian-speaking boys and promise every army serviceman a “piece of land and two slaves”
– All on this is actually American war against Russia, for which US spent X cajillion dollars
Anyways, remember the USSR? Well modern Russia is kinda like that, but poorer and a lot more ethnically divided.
LAMB
It is amazing the number of Pro-Russian comments here. Putin certainly knows how to manipulate the media. One thing WE in the WEST do know is that PUTIN is aiming to reconstruct the old USSR – he is, after all, KGB, and a power monger. The WEST fought the NAZI over the same issue and probably will fight RUSSIA (and WIN) over PUTINS land -grabbing.
COMRADES, do you really think we believe all of PUTINS propaganda???? The eastern UKRAINE is being held by RUSSIAN TROOPS, not Ukrainians!!!
rayban
Insert Mel Gibson’s objections to fighting the British in that movie oh called “The Patriot” I seem to remember . Basically all you war heads , if the USA or NATO fights Russia , bombs shall fall on the USA and Russia . Perhaps forgotten the huge power of the largest nations . This would not be cozy watch the cameras from the living room on tele or see it on the internet . You would see it in the backyard or beside the apartment or just wake up 1/4 mile or 1 kilometer (I know) away from where you slept at with one leg around your neck and one arm up your big point of contact . That is what happens when you get blown up by a big bomb while sleeping .
I vote for NO uneccasary wars .
bobbygater
the ukes can use the printing press cash being distributed to feed fires and use that as heat….how was merkel allowed to push the mein kempf story all over again….media are nazi filled obviously….ukes taking gas from russia that being exported to europe, but like every communist countries like canada and usa and europe the ukes have stopped development of their own resources, now the bc natives using the same communist thinking want to stop all mining in bc….just proves cheating ones way thru universities developes dimwit leaders of tomorrow like in EU, ukraine, russia and bc native groups
bobbygater
Europe for 2000 YEARS has been the victim of germanic and russian nomadic tribes, go read history it keeps happening over and over again, will someone launch at both and wipe them off the earth?