Second Russia-China Gas Deal: EU Left With Expensive LNG, And LNG Left With A Sick Customer, by Zoltan Ban

Summary

  • Russia and China agreed to a second gas deal this month. This time, it is for the same supplies that flow towards Europe.
  • Together with the decline in natural gas production in the North Sea, a potential loss of Russian gas volumes could cause a one third drop in current EU supplies.
  • Russia’s shift towards the East will shift the main LNG market to Europe, which is not economically as prepared to deal with the higher prices, hurting Europe and LNG exporters.

Only a few months ago, we witnessed a huge $400 billion gas deal signed between Russia and China. Western media largely greeted the deal with some partisan dishonesty, falsely claiming that Russia was taken advantage of by China, despite the fact that most indications are that China agreed to pay a similar price of around $360 per 1,000 cm as the EU currently does, with the price fluctuating in tandem with oil prices. Now we have news about another deal that I warned about in an article in September, which has the potential to pit the EU against China for the same Western Siberian gas supplies. Back then it was just talk about a deal in November with unspecified details, while now we are presented with the reality of a deal having been agreed to for 30 billion cubic meters per year in addition to the 38 billion cubic meters agreed to in the previous deal.

It is news that very few people paid attention to, despite the dramatic long-term effects this will have on Europe’s already struggling economy. Even as the deal was made public, there has been very little reaction. Very few people in Europe are jumping to launch a public debate about its ramifications. It is as if it does not matter, even though it matters greatly.

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The Trial Of Radovan Karadžić Enters The Final Phase, by Stephen Karganovic

The Saker originally posted this piece with some key points that perfectly sum up the framework for any debate on the topic.

What people need to understand is the massive propaganda that went prior to, during and post destruction of the Yugoslavian state. The propaganda was so strong that it held up, and still continues to hold up a diametrically opposite view of the conflict.

Many Muslims live in a false belief that this was an ethnic conflict that targeted them. This is especially true of the non-Yugoslavian Muslim majority the world over. The American narrative in collusion with Muslim leaders was pumped day and night via television screens in all Muslim countries. The Serbian people were vilified and demonized relentlessly.

What was once a nation resembling paradise in how its many ethnicities lived in harmony was ripped apart and destroyed. This was a dreadful western crime which must never be forgotten.

If you have not already then please do see this documentary on Yugoslavia here.

AE

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Radovan Karadži?

The Prosecution and the Defence have filed their final submissions in the trial of Radovan Karadžić, former president of the Republic of Srpska, which was concluded on 2 May 2014. The trial was conducted before the International Criminal Tribunal for the Former Yugoslavia at the Hague. A total of 195 Prosecution and 238 Defence witnesses were heard. The prosecutor, Alan Tieger, has asked for life imprisonment, the maximum sentence, for Dr. Karadžić who stands accused of genocide, crimes against humanity (persecution, extermination, murder, deportation, etc.), and violation of the laws and customs of war. Dr Karadžić was the political head of the Bosnian Serb state during the 1992-1995 ethnic conflict in Bosnia and Herzegovina and, as President, he was commander-in-chief of its armed forces.

While during the lengthy trial the prosecution focused on a variety of imputed crimes, the main charges against Dr. Karadžić concerned “ethnic cleansing” of the Muslim and to a lesser extent Croatian population, the siege and bombardment of Sarajevo by Serbian forces, and events in Srebrenica following its capture by Serbian forces in July of 1995.

In his three-day summary of the evidence which began on 1 October, Karadžić reiterated his innocence of the charges outlined in the indictment. “I am not guilty,” he proclaimed. “This court has put on trial not me, but the Serbian people.”

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