Bloomberg: Russian Invasion Smothers Supplies From World’s Breadbasket
(Bloomberg) -- After years of growing increasingly reliant on cheap and abundant wheat supplies from Russia and Ukraine, the world’s grains buyers are being forced to hunt elsewhere as flows from both countries dry up.
Ukraine’s ports are closed, and while some grain is still leaving Russia for now, traders and shipping representatives said there were little or no new deals being signed because of the uncertainty around the conflict, potential new sanctions and surging costs for freight and insurance.
Top importer Egypt held a wheat tender Monday but canceled it after only getting high-priced offers for French and American supplies.
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Update: "Breadbasket Of World" Choked Off By Russian Invasion As Wheat Prices Soar (Zero Hedge)
WNU Editor: A lot of countries are dependent on this Russia-Ukraine export to feed their people. Sanctions have just stopped it.
3 comments:
In 2011 grain price went up. Arab Spring was one result.
President Joe Biden is poised to impose sanctions on a number of Russian oligarchs and their families on Thursday, as the U.S. and its allies seek to exert further pressure on the wealthy businessmen around President Vladimir Putin in response to the invasion of Ukraine.
The sanctions will be in keeping with measures the European Union imposed on Feb. 28, according to people familiar with the plans who asked not to be identified in advance of an announcement.
But the U.S. restrictions will be broader, prohibiting the tycoons’ travel to the U.S. and also targeting their families to prevent them from transferring assets to spouses or children, a tactic that’s been used in the past to evade sanctions.
The specific targets of the U.S. sanctions are still under discussion, the people said, and they declined to identify any of them ahead of an official announcement.
11:32 is a very stupid person who can almost nothing but regurgitated what is fed to him.
https://www.bloomberg.com/news/articles/2022-03-03/u-s-readies-new-sanctions-on-russian-oligarchs-and-families
Joe Biden and his staff, the vaunted adults in the room, were supposedly ready on day one, but they are still discussing additional sanctions. What a bunch of maroons.
What have the oligarchs done? Somehow when state assets were sold off in 1991/1992, they ended up with the lion's share. That could have happened by means fair or foul. They could have simply bought shares from the average worker, because they had more cash reserves simply from having a higher base pay and saving from the Soviet era. Rinse and repeat until they had majority stakes. I believe foul means were also employed. They were simply assigned majority stakes or something. Would have to read news articles from the 1990s.
How is how the oligarchs built their wealth different than how the principles of Solyndra built their wealth?
Targeting the oligarchs is a lot of sound and fury, but it relieves Biden of doing anything effective against Russian military might.
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