{"id":544520,"date":"2022-03-08T03:37:32","date_gmt":"2022-03-08T03:37:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/08\/us-lawmakers-to-vote-on-russia-oil-ban-moscow-threatens-to-shutter-key-gas-pipeline-to-europe\/"},"modified":"2022-03-08T03:37:32","modified_gmt":"2022-03-08T03:37:32","slug":"us-lawmakers-to-vote-on-russia-oil-ban-moscow-threatens-to-shutter-key-gas-pipeline-to-europe","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/08\/us-lawmakers-to-vote-on-russia-oil-ban-moscow-threatens-to-shutter-key-gas-pipeline-to-europe\/","title":{"rendered":"US lawmakers to vote on Russia oil ban + Moscow threatens to shutter key gas pipeline to Europe"},"content":{"rendered":"

<\/a> US looks to move ahead with Russia oil ban, undeterred by commodities <\/strong>chaos:<\/strong> US lawmakers from both sides of the aisle are backing a plan to ban imports of Russian oil and sever trade relations with the country, Reuters<\/a> reports. The framework was authored by Republican and Democratic lawmakers who sit on trade committees in the House and Senate, and could be put up for a vote in the House as soon as Tuesday, a congressional aide told the newswire<\/a>.<\/p>\n

Some European countries aren\u2019t on board with an embargo on Russian energy<\/strong>, but two sources told Reuters<\/a> that Washington is happy to go it alone and ban Russian oil from its shores. US officials have been in talks with European leaders over a joint ban but European nations are split over whether to sanction Russian oil and gas. Germany yesterday publicly opposed the idea while other nations such as Poland are calling for action, Bloomberg<\/a> reports.<\/p>\n

But it does want to slash imports this year:<\/strong> The bloc wants to cut up to two-thirds of its energy imports from Russia, the EU Commission said yesterday<\/a>. This seems like a tall order given the continent relies on Russia for 40% of its gas, but a realignment of the continent\u2019s energy strategy could open a space for producers such as Egypt to increase exports<\/strong>.<\/p>\n

Russia threatens to suspend key gas pipeline to Europe:<\/strong> The Russian deputy prime minister threatened to cut off gas supplies to Europe delivered through the Nordstream 1 pipeline if Western governments move to reduce purchases from Russia, according to Reuters<\/a>. Alexander Novak, who also handles energy policy, said that a restriction of Russian supplies could push oil prices to USD 300 a barrel, and warned that Moscow could respond to energy sanctions by shuttering the pipeline.<\/p>\n

TALKS HAVE BROKEN DOWN-<\/strong><\/p>\n

A third round of direct talks between the two sides failed to produce a breakthrough <\/strong>yesterday<\/strong> after Ukraine rejected Moscow\u2019s demands, the Washington Post<\/a> reports. The Kremlin said yesterday that it will stop the bombardment \u201cin a moment\u201d if Ukraine accedes to its demands. Moscow wants Kyiv to enshrine neutrality in its constitution, recognize Crimea as Russian territory, and allow the breakaway states in the east of the country to become independent, spokesperson Dmitry Peskov said, according to Reuters<\/a>.<\/p>\n

Small signs of progress:<\/strong> Negotiators brokered an agreement to establish humanitarian corridors to allow civilians to escape the fighting, and Russia\u2019s UN ambassador announced that it will abide by a ceasefire starting 10am Moscow time, according to the Associated Press<\/a>.<\/p>\n

ON THE GROUND- <\/strong><\/p>\n

Rockets continue to be fired on the north and south of the country<\/strong>, disrupting plans to evacuate civilians via humanitarian corridors, the Wall Street Journal<\/a> reports. More than 200k citizens in the southeastern city of Mariupo are at grave risk, Human Rights Watch<\/a> said, and have not had access to running water, electricity, or heat since 2 March, when Russian forces began to besiege the city. Three evacuation attempts were canceled since then due to continued attacks.<\/p>\n

Meanwhile outside Kyiv, <\/strong>Russian <\/strong>troops are preparing to seize the capital from the east <\/strong>and west<\/strong> in an operation Institute for the Study of War<\/a> believes will start in the next few days.<\/p>\n

THE HUMAN TOLL- Around 1.7 mn Ukrainians have fled their country so far<\/strong>, according to the UN refugee agency<\/a>. This is the biggest refugee crisis in Europe since World War II.<\/p>\n

PLANET WAR FINANCE- <\/strong><\/p>\n

There\u2019s now an 80% chance that Russia will default on its debt<\/strong>, after credit default swaps on Russian bonds rose to record highs yesterday, Bloomberg<\/a> reported yesterday, citing ICE Data Services. Ratings agencies Moody\u2019s, Fitch and S&P have all slashed the country\u2019s sovereign rating to \u201cjunk\u201d status,<\/a> after the US imposed sanctions on Russian sovereign debt and its central bank, and banned some of its banks from the SWIFT payments system.<\/p>\n

Russia is officially the most sanctioned country on Earth<\/strong>, taking the ignominious prize out of the hands of countries like Iran and North Korea. The country has been slapped with almost 2.8k new sanctions since 22 February, taking the total to more than 5.5k, according to Bloomberg<\/a>.<\/p>\n

EXODUS-<\/strong><\/p>\n

Fitch has become the second western credit rating agency to suspend its operations in <\/strong>Russia<\/strong>, according to Reuters<\/a>. The firm said that its activities in the country would cease with immediate effect and that its analysts would cover the country from abroad. Moody\u2019s was the first major rating agency to leave the country, announcing an end to its operations at the weekend.<\/p>\n","protected":false},"excerpt":{"rendered":"

US looks to move ahead with Russia oil ban, undeterred by commodities chaos: US lawmakers from both sides of the aisle are backing a plan to ban imports of Russian oil and sever trade relations with the country, Reuters reports. 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Ukrainian President Vlodomyr Zelensky called on Western nations to stop dragging their feet and quickly agree on a complete ban on Russian oil, as well as cut off Russian banks from the international system\u2026","rel":"","context":"In "WAR WATCH"","block_context":{"text":"WAR WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/war-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/163.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544545,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/09\/oil-prices-rise-again-on-us-russia-energy-ban-moscow-to-retaliate-with-export-restrictions\/","url_meta":{"origin":544520,"position":1},"title":"Oil prices rise again on US\u2019 Russia energy ban; Moscow to retaliate with export restrictions","author":"enterpriseam admin","date":"9 March 2022","format":false,"excerpt":"Oil reaches new heights after US + UK announce Russian oil ban: Global oil prices closed at their highest levels since 2008 yesterday after the US and UK announced they would ban the import of Russian fossil fuels, marking a significant escalation of the economic warfare being waged against Moscow\u2026","rel":"","context":"In "WAR WATCH"","block_context":{"text":"WAR WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/war-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/107.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544610,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/13\/russia-says-western-arms-shipments-to-ukraine-are-legit-targets-us-to-send-more-arms\/","url_meta":{"origin":544520,"position":2},"title":"Russia says western arms shipments to Ukraine are legit targets; US to send more arms","author":"enterpriseam admin","date":"13 March 2022","format":false,"excerpt":"Russia has warned that it could strike western arms shipments, potentially drawing Moscow and Nato closer to armed confrontation, the Financial Times reports, citing a report in Interfax. Deputy foreign minister Sergei Ryabkov described western governments\u2019 arming of Ukraine as a \u201cdangerous move\u201d and one that \u201cturns these convoys into\u2026","rel":"","context":"In "WAR WATCH"","block_context":{"text":"WAR WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/war-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/148.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544570,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/10\/ukraine-neutrality-sisi-talks-to-putin\/","url_meta":{"origin":544520,"position":3},"title":"Ukraine neutrality + Sisi talks to Putin","author":"enterpriseam admin","date":"10 March 2022","format":false,"excerpt":"Ukraine \u201cready for diplomatic solution\u201d: Ukraine is considering Russia\u2019s demand for neutrality in return for security guarantees but won\u2019t give up a \u201csingle inch of territory,\u201d a senior aide to President Volodymyr Zelenskiy told Bloomberg yesterday. \u201cWe are ready for a diplomatic solution,\u201d said Ihor Zhovkva, Zelenskiy\u2019s deputy chief of\u2026","rel":"","context":"In "WAR WATCH"","block_context":{"text":"WAR WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/war-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/122.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577950,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/11\/putin-threatens-to-cut-oil-production-in-response-to-g7-price-cap\/","url_meta":{"origin":544520,"position":4},"title":"Putin threatens to cut oil production in response to G7 price cap","author":"enterpriseam admin","date":"11 December 2022","format":false,"excerpt":"Russia could respond to price cap by cutting production -Putin: Moscow will not sell oil to countries that impose the G7\u2019s price cap and could cut production, Russian President Vladimir Putin said Friday, according to the Financial Times. Russia \u201cwould simply not sell to the countries\u201d that imposed the cap\u2026","rel":"","context":"In "AROUND THE WORLD"","block_context":{"text":"AROUND THE WORLD","link":"https:\/\/enterpriseam.com\/egypt\/category\/around-the-world\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/196.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546487,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/18\/rising-oil-import-prices-could-cancel-out-gas-export-gains-el-molla\/","url_meta":{"origin":544520,"position":5},"title":"Rising oil import prices could cancel out gas export gains -El Molla","author":"enterpriseam admin","date":"18 May 2022","format":false,"excerpt":"Egypt\u2019s rising oil import bill could cancel out any gains from higher gas export revenues this year, Oil Minister Tarek El Molla told CNBC Arabia yesterday (watch, runtime: 11:49). \u201cIt\u2019s possible that the extra [income] we get from our gas exports could be canceled out by the increase in the\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/230.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=544520"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544520\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/544514"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/544521"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=544520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=544520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=544520"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=544520"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=544520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}