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Daily Dispatches
European gas payments in rubles aren't due until second half of April
Submitted by admin on Fri, 2022-04-01 11:24 Section: Daily DispatchesBy Marwa Rashad
Reuters
Friday, April 1, 2022
LONDON -- European governments and companies were working today on a common approach to Russia's demand that they pay for its gas in rubles as the threat of an imminent supply halt eased.
European capitals have been on alert for a disruption to gas imports for weeks as President Vladimir Putin seeks retaliation over Western sanctions for Russia's invasion of Ukraine.
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At least two major refiners refuse to remelt Russian gold bars
Submitted by admin on Thu, 2022-03-31 21:49 Section: Daily DispatchesBy Eddie Spence
Bloomberg News
Thursday, March 31, 2022
Some gold refineries are refusing to remelt Russian bars even though market rules permit them to do so, in a sign of how toxic the country's products have become in certain commodity markets.
The London Bullion Market Association, a club of big banks that acts as the overseer of the world's key gold market, has drawn a distinction between newly produced Russian gold, which it has barred from its market, and metal that was produced before the invasion, which it is still allowing to trade.
Alasdair Macleod: Edging toward a gold standard
Submitted by admin on Thu, 2022-03-31 21:45 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, March 31, 2022
Commentators are trying to make sense of Russian moves. However, there is a back story that differs from much of the speculation, which this article addresses.
The Russians have not put the rouble on some sort of gold standard. Instead, they have repeated the Nixon/Kissinger strategy that created the petrodollar in 1973 by getting the Saudis to agree to accept only dollars for oil.
Hack of Ronin Network may be biggest crypto theft ever -- $622 million
Submitted by admin on Thu, 2022-03-31 12:24 Section: Daily DispatchesHackers Just Stole More Than a Half Billion Dollars from Axie Infinity's Ronin Network in What Could Be the Biggest Crypto Heist of All Time
By Taylor Locke
Fortune Magazine, New York
Tuesday, March 29, 2022
In what might be the biggest crypto hack to date, around $622 million has been stolen from a blockchain-based gaming network.
The Ronin Network, which powers the super-popular Axie Infinity game, confirmed the security breach on Twitter today. According to the network's Substack post, Ronin was exploited for 173,600 Ethereum and 25.5 million USDC.
USA Gold's April 'News & Views' letter: 'The world is being tested to the extreme'
Submitted by admin on Thu, 2022-03-31 12:12 Section: Daily Dispatches12:12p ET Thursday, March 31, 2022
Dear Friend of GATA and Gold:
USA Gold's "News & Views" letter for April is headlined "The World Is Being Tested to the Extreme" and excerpts many observations from market analysts. The letter is posted in the clear here:
https://www.usagold.com/nv1040april2022/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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Russian oil tankers turn off transponders, evade tracking
Submitted by admin on Thu, 2022-03-31 12:02 Section: Daily DispatchesBy Matt Egan
CNN, Atlanta
Wednesday, March 30, 2022
As the war in Ukraine drags on, Russian tankers carrying crude oil and petroleum products are increasingly disappearing from tracking systems.
So-called dark activity, where ships' transponders are turned off for hours at a time, has in the past been viewed by U.S. officials as a deceptive shipping practice that is often used to evade sanctions.
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Putin says Russia will enforce ruble payments for gas from Friday
Submitted by admin on Thu, 2022-03-31 11:04 Section: Daily DispatchesFrom Reuters
Thursday, March 31, 2022
Russian President Vladimir Putin said today that he had signed a decree saying foreign buyers must pay in rubles for Russian gas from April 1, and contracts would be halted if these payments were not made.
"To purchase Russian natural gas, they must open ruble accounts in Russian banks. It is from these accounts that payments will be made for gas delivered starting from tomorrow," Putin said in televised remarks.
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Key U.S. inflation gauge sets 40-year high as gas and food soar
Submitted by admin on Thu, 2022-03-31 09:39 Section: Daily DispatchesAdjusted for inflation, consumer spending actually fell 0.4% last month.
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By Christopher Rugeber
Associated Press
Thursday, March 31, 2022
WASHINGTON -- An inflation gauge that is closely monitored by the Federal Reserve jumped 6.4% in February compared with a year ago, with sharply higher prices for food, gasoline, and other necessities squeezing Americans’ finances.
Kinross Gold nears sale of Russian mine to Russian mining executive
Submitted by admin on Wed, 2022-03-30 23:43 Section: Daily DispatchesBy Ben Dummett and Alistair MacDonald
The Wall Street Journal
Wednesday, March 30, 2022
Canadian miner Kinross Gold Corp. is in exclusive talks to sell its giant Arctic Russian mine to Fortiana Holdings Ltd., according to people familiar with the matter, a deal that if consummated could mark the first sale of an asset a Western company is leaving behind in Russia.
Fortiana is a Russian-backed investment firm with interests in gold mining assets.
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Russian ruble's rebound raises questions of sanctions' impact
Submitted by admin on Wed, 2022-03-30 23:33 Section: Daily DispatchesBy Ken Sweet and Ellen Knickmeyer
Associated Press
via Yahoo News, Sunnyvale, California
Wednesday, May 30, 2022
WASHINGTON -- The ruble is no longer rubble.
The Russian ruble by Wednesday had bounced back from the fall it took after the U.S. and European allies moved to bury the Russian economy under thousands of new sanctions over its invasion of Ukraine. Russian President Vladimir Putin has resorted to extreme financial measures to blunt the West’s penalties and inflate his currency.
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