🔹The U.S. 🇺🇸 Administration could begin crude oil repurchases to fill the Strategic Petroleum Reserve (SPR) as early as in June. A congressionally mandated sale of 26 million barrels 🛢 will be completed by June, and it's at that point where the US will flip the switch and then seek to purchase.

🔹House & Senate Republican energy leaders have requested the Gov't Accountability Office to evaluate the Dep't of Energy’s mismanagement of the SPR. They stated that this mismanagement has undermined America’s energy security and increased our reliance upon foreign energy sources.

🔹Global commercial oil inventories were close to their long-term seasonal average at the end of Q1 2023 following massive releases from the US SPR over the previous 12 months. In October of 2022, the administration announced that it would repurchase crude oil for the reserve when prices were at or below about $67-$72 per barrel (presently trading @ $70).

Last reported on this channel:

💠 The Biden 🇺🇸 admin plans to sell 26 million barrels of crude oil from the SPR.

💠 US bans sale of SPR oil to China 🇨🇳.

💠 US East Coast at risk of a gasoline shortage this summer due to EU’s 🇪🇺 ban of Russian fuel.

💠 US SPR has not been this low since Dec. 30, 1983.

💠 US used 📉 218 million barrels of oil from it's SPR.

Photo source - John Kemp

🔹Hungary 🇭🇺 will not agree to any sanctions against Russia 🇷🇺in the nuclear sphere, even minimal ones, according to its Minister of Foreign Affairs, Peter Szijjarto, after a meeting in Brussels.

🔹EU 🇪🇺 ambassadors met in Brussels to formally review the European Commission's latest proposal for their 11th package of sanctions against Russia.

🔹Russia's Rosatom ☢️ remains the world’s biggest exporter of nuclear fuel through its TVEL subsidiary. Indeed, many European nations that were formerly part of the Soviet Union still rely on Russian fuel.

🔹Enriching uranium is a highly specialized process that can only be done in certain countries, such as Russia that also has some of the world's largest uranium supplies. While the US 🇺🇸 is self-sufficient in fabrication, uranium, and uranium processing, U.S. capabilities in conversion and enrichment are another matter.

🔹Russia's collection of nuclear suppliers provide a quarter of the U.S.'s nuclear fuel, and the US continues to pay for the resource, spending a collective $1 billion last year.

🔹UK's 🇬🇧Telegraph publishes article exposing unreliability of solar and wind power. "Wind and solar need to be backed up, close to 100%, by some other means of power generation". "But if we had 100% nuclear backup for solar and wind, we wouldn't need the wind and solar plants at all."

Last reported on this channel:

💠 Hungary claim Germany 🇩🇪 is blocking the upgrade of Hungary's Paks nuclear facility by Russia.

💠 G7 members have formed an alliance aimed at blocking Russia out of the international nuclear energy market.

💠 France's 🇫🇷 state-owned nuclear operator EDF is considering using funds from depositors in a centuries-old savings account to finance part of a €50bn plan to build six nuclear reactors.

💠 Rosatom & the Chinese 🇨🇳 atomic energy agency agreed on a comprehensive program of long-term cooperation.

Video source - Jordan Trimble

🔹Bolivia's 🇧🇴 president, Luis Arce, announced that the gov't is evaluating the possibility of using China's 🇨🇳yuan as a replacement for the U.S. dollar to carry out financial transactions in its foreign trade. Bolivia faces difficulties in liquidity of US dollars in the domestic market. USD shortages began to escalate in early 2023 due to the decrease in net international reserves (NIR).

🔹Bolivian analysts see a difficult road ahead using the yuan in the short term because in the world trade, imports, debt payment is made with dollars 💵 and, in addition, Bolivia needs to earn NIR in that currency.

🔹The Federation of Private Entrepreneurs and the Bolivian 🇧🇴 Institute of Foreign Trade welcomed the proposal for the installation of a Chinese bank in Bolivia, in order to carry out foreign trade with China in yuan. However, the Chinese Ambassador to the country stressed that this will take time.

South American countries trade with China reported on this channel:

💠 Argentina 🇦🇷 is set to follow Brazil and start to pay for Chinese imports in yuan rather than US dollars.

💠 China 🇨🇳 and Brazil 🇧🇷 have reached a deal to trade in their own currencies after setting up a yuan clearing arrangement in to facilitate cross-border transactions.

💠 Argentina & Brazil want to "advance discussions on a common South American currency" to be used for financial and trade flows.

💠 Argentina applies to join BRICS group of nations.

Video source: Bolivia TV Oficial

🔹EU’s 🇪🇺 foreign policy chief says the EU should “take measures” to stop India 🇮🇳 reselling Russian oil to the region in the form of refined fuels. “If diesel or gasoline is entering Europe… coming from India and being produced with Russian 🇷🇺 oil, that is certainly a circumvention of sanctions and member states have to take measures”.

🔹Indian Oil Corp Ltd, the country's top refiner 🏭, reported its first rise in profit in five quarters today (May 16th), as cooling crude prices bolstered its refining margins, sending its shares to their highest in more than one year.

🔹India's imports of Russian oil rose tenfold 📈 last year, according to Indian state-controlled lender Bank of Baroda.

🔹Russia in April exported the most oil since Feb. 2022, hitting a high of 8.3 million barrels 🛢 a day.

Last reported on this channel:

💠 Imports of fuel from India to the EU are set to jump above 360,000 bpd, overtaking shipments from Saudi Arabia🇸🇦.

💠 India 🇮🇳 has decreased oil imports from the Middle East amid growing purchases from Russia.

💠 Russia's largest oil producer Rosneft and India's top refiner (IOC) agreed to use the Asia-focused Dubai 🇦🇪 oil price benchmark. India have begun paying for this oil in UAE dirhams instead of USD.

💠 India's Oil Min. - "India is not obligated to buy Russian oil at rates below the price cap imposed by the G7 & other Western nations".

💠 Russia 🇷🇺 supplies in Mar. '23 was around 35% of India’s total oil imports, it was at 1% before Feb. 2022.

Video source - CNA

🔹Georgia 🇬🇪 faces criticism from the EU over the decision by Georgian officials to allow the resumption of flights ✈️ to and from Russia. Last week, Russia 🇷🇺 introduced visa-free travel for Georgian citizens and lifted the 2019 ban on Russian carriers serving the Caucasus country.

🔹The EU 🇪🇺 says it may reflect negatively on Georgia's EU integration since Georgia has implemented only 80% of the European Commission’s recommendations to earn EU candidate status. Ukraine and Moldova have already gained candidate status.

🔹Up to a million Georgian citizens live in the Russian Federation, and the decision will significantly contribute to their trip to Georgia. However, the US 🇺🇸 State Dep't recently warned Tbilisi with a threat of sanctions in the event of a resumption of direct air traffic between Russia and Georgia.

🔹Ukraine 🇺🇦 criticised Georgia as well over restoration of flights with Russia. Georgian opposition are already mobilizing protests for the first flight from Russia at Tbilisi 🇬🇪 airport. They claim the plane will not be able to land comfortably and calmly and the passengers does not concern them.

Last reported on this channel:

💠 The parliamentary majority in Georgia 🇬🇪 withdrew a bill on registering ‘foreign agents’ following 2 nights of massive protests in the capital. The US and EU opposed the bill and supported protests via NGO's. The protests were an attempt to remove the present Georgian gov't.

Video source -EU debates

🔹Hungary 🇭🇺 will block a further €500 million-euro ($542 million) tranche of EU 🇪🇺 (off-budget) financing for arming Ukraine and would be reluctant to back further sanctions against Russia 🇷🇺. The EU can ignore or bypass Hungary's position using the qualified majority voting system or force the country to reverse by withholding further funding.

🔹Hungary sees an “increasingly belligerent” attitude on the part of Kiev towards Hungarian interests. This belligerence include:

🔸Ukraine’s decision to encourage restrictions against OTP Bank Nyrt., Hungary’s largest lender.

🔸Ukraine was limiting the educational rights of the country’s ethnic Hungarian citizens.

🔸A report from the Washington Post suggesting that Ukraine talked about blowing up the Druzhba pipeline delivering oil from Russia to Hungary via Ukraine.

🔹Hungarian PM V. Orban has warned that Brussels is pushing a framework that can cause countries within the EU to lose autonomy (Video). Hungary is struggling to unlock more than $30 billion of EU funds dedicated to he country that have been suspended by the bloc.

Hungarian - Ukrainian relations previously reported on this channel:

💠 Budapest 🇭🇺 will not agree to any sanctions against Russia 🇷🇺in the nuclear sphere.

💠 Kiev regime targeting ethnic Hungarians in Transcarpathia to supress them.

💠 Ukraine's terrorist attack on the Druzhba oil pipeline facility in Russia which supplies oil to Hungary.

💠 Ukraine 🇺🇦 is preparing to significantly increase tariffs for transporting Russian crude oil to the EU through its territory via the Druzhba pipeline.

💠 Foreign Minister P. Szijjártó responds to Zelensky's criticism of Hungary's NATO membership.

Video source - About Hungary

🔹 Moldovan 🇲🇩 police raided the central election commission of Gagauzia, alleging irregularities after a politician championing better relations with Russia 🇷🇺, and not the EU 🇪🇺, won the local gubernatorial vote. Supporters of the Shor party & citizens accuse Chisinau of intimidating the Gagauzia authorities.

🔹 Gagauzia, an autonomous region in southern Moldova, elects its own bashkan – governor – and Sunday’s run-off saw the victory of Yevgenia Gutsul, with 52.36% of the vote. Gutsul represents the Shor party, which the gov't in Chisinau has tried to ban. The National Assembly of Gagauzia intend to approve Gutsul as bashkan.

🔹Thousands rallied outside the Constitutional Court in Chisinau 🇲🇩, protesting against the verification of the legitimacy of the Shor party and its possible ban.

Last reported on this channel:

💠 Ex-Moldovan President Igor Dodon has voiced concerns over a possible provocation against Transnistria by Ukraine 🇺🇦.

💠 Feb 19th '23 Moldovan protestors call for resignation of president Maya Sandu.

💠 Moldovan PM N. Gavrilita resigned & was replaced with an even more pro-EU PM. Moldova forced several Russian-language media outlets to shut down after not renewing their broadcasting licenses.

💠 In late 2022, multiple protests took place in Chisinau, 🇲🇩 calling for the resignation of pro-EU president Sandu amid high energy prices. Some protests grew violent with police brutalities resulting with some protests escorted by retired military. Protests reported on this channel, on Nov 28th, Nov 13th, Oct 30th, Oct 23rd, Oct 16th & Sep 9th.

Video source - People Say

🔹 Iran 🇮🇷 and Russia 🇷🇺 have signed an agreement on the construction of the Rasht-Astara railway, a strategic transport corridor that connects the existing railways of the two countries and Azerbaijan 🇦🇿.

🔹 The 162-kilometer railway 🚃 will connect the Iranian city of Rasht, near the Caspian Sea, to Astara on the border with Azerbaijan. The project is aimed at integrating the transport and information routes of Russia, Azerbaijan, Iran and India, within the framework of the International North-South Transport Corridor (INSTC).

🔹 Russia’s Deputy PM Alexander Novak led a high-ranking delegation to major events and ceremonies in Tehran on where Iranian and Russian ministers and senior officials signed contracts and MoUs worth billions of dollars.

🔹 Russia’s second-largest and majority state-owned VTB Bank has opened up a representative office in Iran to further connect their interbank communication and transfer systems in the face of Western sanctions.

Last reported on this channel:

💠 A trilateral deal was signed by Azerbaijan 🇦🇿, Russia, and Iran to facilitate the development of the INSTC. From Jan-Oct. 2022, the INSTC trade turnover exceeded $3 billion, thus growing by 20%.

💠 Russia and India 🇮🇳 are considering the possibility of creating a transarctic container line and building processing facilities near the Northern Sea Route.

Video source - RT News

🔹President R. Erdogan of Türkiye 🇹🇷 announced that Russia 🇷🇺has backed the extension of the Black Sea grain and fertilizer agreement by another two months. It was due to expire today, after Moscow said the West had failed to keep its end of the bargain.

🔹He thanked Russian President Vladimir Putin for supporting the Turkish initiative to extend the arrangement, and promised Ankara would do everything it can to see it fully implemented. Wheat futures on the Chicago Board of Trade dropped 📉 2% to $6.12 a bushel. Prices have fallen 23% since the start of the year, and dropped 57% since hitting an all-time high of $14.30 a bushel in March last year.

🔹The West has not fulfilled previous guarantees of removing all barriers to the export of Russian grain 🌾 & fertilizers, which is part of the July 2022 deal.

Timeline of grain deal developments reported here:

💠 Russia 🇷🇺 extended the grain deal for 60 days (in March) instead of 120 days because of failures to remove restrictions on Russian agricultural exports.

💠 Most grain from Ukraine goes to the EU 🇪🇺 for animal feed at dumping prices, not to the poorest countries.

💠 Russia resumes participation to the Black Sea grain deal after guarantees to lift restrictions on Russian exports of food & fertilizers.

💠 Russia suspends grain deal after ships in the Black Sea were attacked by Ukraine 🇺🇦.

💠 Grain 🌾 deal hypocrisy by western countries, exposed.

💠 Chairman of the African Union visits Russia to discuss food crisis in Africa.

💠 Grain deal signed with safe routes 🚢 made in Black Sea. Previous deal was botched by Ukraine.

Video source - RT News

🔹Chinese 🇨🇳 President Xi Jinping unveiled a grand plan for Central Asia's development, from building infrastructure to boosting trade, taking on a new leadership role in a region. China is ready to coordinate development strategies with Kazakhstan 🇰🇿, Kyrgyzstan 🇰🇬, Tajikistan 🇹🇯, Turkmenistan 🇹🇲 and Uzbekistan 🇺🇿, and promote the modernisation of all.

🔹The five former Soviet republics, with a network of trade corridors, offer China alternative routes to transport fuel, food and other commodities in the event of disruptions elsewhere. "No one has the right to sow discord or stoke confrontation in the region, let alone seek selfish political interests," President Xi said. The Central Asian leaders thanked China for proposing and successfully hosting the first China-Central Asia Summit.

🔹 Rejecting foreign media's hyping of Russia 🇷🇺-China 🇨🇳 competition in this region, China's enhanced cooperation with Central Asia benefits Russia and the region. Cooperation between the three sides are complementary, and there is no contradiction in China and Russia's cooperation with Central Asia.

Previous China - Central Asia developments reported on this channel:

💠 China's central bank signed a MoU on setting up yuan clearing arrangements in Kazakhstan 🇰🇿.

💠 Russia 🇷🇺 is discussing a possible “gas union” with Kazakhstan & Uzbekistan 🇺🇿 to support shipments between the 3 countries & to China.

💠 The top diplomats of Tajikistan 🇹🇯, Turkmenistan 🇹🇲 and Uzbekistan participate with Russia, China, Iran & Pakistan for a ministerial conference of Afghanistan’s neighboring countries.

💠 Chinese President Xi Jinping wants China 🇨🇳 to cooperate more with SCO member Turkmenistan 🇹🇲 on energy.

Video source - ShanghaiEye

🔹Syria’s 🇸🇾President Bashar al-Assad attended today's 32nd Arab League summit in Saudi Arabia’s 🇸🇦 port city of Jeddah. Syria was suspended from the regional body 12 years ago and has been recently re-admitted.

🔹Main streets in Jeddah were lined with the flags 🇸🇾🇸🇦 of Arab League member states including Syria. MBS also received Al-Assad on the sidelines of the Arab Summit in Jeddah. During the meeting, they discussed bilateral relations between the two brotherly countries and developments in the Arab arena.

🔹Washington 🇺🇸 has objected to any steps towards normalisation with Assad, saying there must first be progress towards a political solution to the conflict.

Recent Syria developments reported on this channel:

💠 Top diplomats from Iran🇮🇷, Türkiye 🇹🇷, Russia 🇷🇺 and Syria 🇸🇾met in Moscow to ensure the Arab country’s sovereignty and territorial integrity, and setting up a roadmap to improve strained ties between Damascus and Ankara.

💠 The Arab League readmitted Syria, after more than a decade of suspension.

💠 First visit of an Iranian president to Syria in more than a decade. 14 documents were signed on expanding economic cooperation.

💠 Saudi Arabia’s 🇸🇦 FM Prince Faisal bin Farhan visited Syrian President Bashar al-Assad in Damascus. First such trip since 2011.

💠 Syria's 🇸🇾 Foreign Minister visits Saudi Arabia, first such trip since 2012.

💠 Tunisia 🇹🇳 initiates procedures that would appoint a new ambassador to Syria.

💠 UAE 🇦🇪 President was visited by the Syrian Preisident. UAE calls for Damascus to be reintegrated into the wider Arab region.

Video source- Syriana Analysis

🔹The 14th International Economic Summit (KazanForum 2023) kicked off in Kazan, the capital of the Russian 🇷🇺Republic of Tatarstan, to strengthen cooperation in commerce, economy, research, and technology and develop social and cultural relations between Russia and the Muslim world. The event hosted over 7,000 attendees from 85 nations.

🔹On the sidelines of the summit, a meeting of the Group Strategic Vision (GSV) "Russia – Islamic World" on the topic "Traditional spiritual and moral values as the basis of interreligious cooperation" was held.

🔹🇷🇺 President V. Putin statement was read at the meeting of the GSV, highlighting the “significant role” of Russian Muslims in expanding his country’s international contacts.

🔹The KazanForum 2023 aims to expand Islamic finance and the halal industry in Russia and create new markets and economic opportunities for investors. The forum will strengthen the relations between Russia and the members of the Organization of Islamic ☪️ Cooperation (OIC) in the fields of trade, culture, and science.

🔹Head of the Iran 🇮🇷 Chamber of Commerce, Industries, Mines and Agriculture, at the forum stressed the need for establishing a joint Islamic market among the members of the OIC over the next 10 years. This entails concluding a free trade agreement among Islamic countries and removing tariff and non-tariff barriers.

Video source - Телеканал ХУЗУР & KazanForum

🔹US 🇺🇸 electricity regulator, the North American Electric Reliability Corporation (NERC) 💡 report is published. No regions were highlighted as high risk but most were marked as elevated risk due to:

🔹Generator ⚙️ retirements continue to increase the risks associated with extreme summer temperatures, which factors into potential supply shortages in the western two-thirds of North America if summer temperatures spike.

🔹New environmental rules that restrict power plant emissions will limit the operation of coalfired 🏭 generators in 23 states, including Nevada, Utah, and several states in the Gulf Coast, mid-Atlantic, and Midwest.

🔹Low inventories of replacement distribution transformers 🔋could slow restoration efforts following hurricanes and severe storms.

🔹Unexpected tripping of wind and solar PV resources during grid disturbances continues to be a reliability concern.

🔹Winter precipitation is expected to improve the water supply for hydro generation in parts of the U.S. West, but low water💧levels on major reservoirs remain a concern for electricity generation.

Previous posts on the US power grid reported:

💠 Projection of EV growth raises concerns over the increasing strain on power grids being ill-equipped to shoulder the load.

💠 Utility co.’s face delays & high costs 📈 for transformers.

💠 A surge in decommissioning fossil fuel power plants 🏭 has outpaced new generation capacity.

💠 Increased EV 🚗 use leading to demand strain on grid sectors.

💠 GE plans to make major job cuts in its U.S. wind operations.

Video source - NERC

🔹Moldova 🇲🇩 - The Grayzone has exclusively obtained video recordings of numerous well-connected figures within Chisinau’s political and business community openly – and gloatingly – testifying to rank malfeasance within the country’s government and economy, while outlining various schemes to enrich Western investors for an appropriate fee.

🔹In the recordings, pranksters posing as wealthy US business people contacted multiple Moldovan officials, one being Moldovan politician and lawyer Stanislav Pavlovschi, asking for assistance in securing a gigantic return for investing $50 million in Chisinau. Pavlovschi, a former European 🇪🇺 Court of Human Rights judge and self-styled human rights defender reveals that the US ambassador 'governs' Moldova.

🔹In a next recording, investment professional Olga Melniciuc, who formerly worked as a consultant to the Moldovan state economic council assured the pranksters that Moldova has EU & US 🇺🇸 backing so there are no obstacles to investing.

Last reported on this channel:

💠 Moldovan 🇲🇩 police raided the central election commission of Gagauzia, alleging irregularities after a politician championing better relations with Russia 🇷🇺, and not the EU 🇪🇺, won the local gubernatorial vote.

💠 Ex-Moldovan President Igor Dodon has voiced concerns over a possible provocation against Transnistria by Ukraine 🇺🇦.

💠 Feb 19th '23 Moldovan protestors call for resignation of president Maya Sandu.

💠 Moldovan PM N. Gavrilita resigned & was replaced with an even more pro-EU PM. Moldova forced several Russian-language media outlets to shut down after not renewing their broadcasting licenses.

Video source - The Grayzone.

🔹President of Turkmenistan🇹🇲 Serdar Berdimuhamedov noted that the country could continue to work on the implementation of new projects related to the supply of Turkmen natural gas in the Chinese direction.

🔹Parties are discussing the construction of the fourth branch (D) of the Turkmenistan 🇹🇲-China🇨🇳 gas pipeline, which would pass through Uzbekistan, Tajikistan and Kyrgyzstan. Between 2009 and December 2022, Turkmenistan delivered more than 350 billion cubic meters of natural gas to China through three pipeline branches that transit Uzbekistan and Kazakhstan.

🔹As the second-largest state in Central Asia and the southernmost of the five republics in the region, Turkmenistan acts as a corridor for China to reach important import and export markets in South Asia, the Middle East, Eastern Europe and beyond, as well as to access the Caspian Sea, which lies on the country's western border.

🔹The EU’s 🇪🇺 desire to expand cooperation with Central Asia, particularly through the Trans-Caspian Pipeline, is facing severe challenges. European countries are not willing to enter into long-term contracts for gas supplies due to their goal of stopping gas imports altogether in 10 to 15 years.

Previously reported on this channel:

💠 Turkmenistan attends the China-Central Asia Summit in China 🇨🇳 to coordinate development strategies.

💠 Chinese President Xi Jinping wants China to cooperate more with SCO member Turkmenistan 🇹🇲 on energy.

💠 A trilateral gas swap deal between Iran 🇮🇷, Turkmenistan & Azerbaijan 🇦🇿 helps foil sanctions imposed against Iran.

Video source - New China TV

🔹Bulgaria 🇧🇬 - The building of the European Commission Representation in Sofia was splashed with red paint today (May 21st) during a protest against "Brussels' 🇪🇺 interference in Bulgaria's internal affairs". Police presence was tightened in the area and the Foreign Ministry firmly condemned the act of vandalism.

🔹Thousands rallied for a peace march against Bulgarian arms supplies to Ukraine 🇺🇦 and to demand the country embraces neutrality. "Bulgaria has no place in international conflicts that defend foreign interests. Our sons, husbands, brothers have no place on the battlefield,” a protester said. "Only leaving NATO - an aggressive, hypocritical, lying and murderous alliance for us - can help us really guarantee peace for ourselves, peace for our children.... added a second.

🔹Demonstrators also collected signatures for a referendum named 'Bulgaria 🇧🇬for Peace and Sovereignty'. For such a referendum to be held, the organizers must collect 600,000 signatures, according to Bulgarian law. "We want the Bulgarian people to say NO to the war and to say YES to the opportunity to directly express the will of the Bulgarian people through referendums," said lawyer, Rumiana Chenalova.

Recently reported on this channel:

💠 Bulgaria & others sign MoU for the supply of additional gas from Azerbaijan 🇦🇿 through the upgraded transmission network systems called the "Solidarity Ring".

💠 Bulgaria and other eastern bloc countries face growing protests from farmers 🚜 who are concerned about falling prices and a lack of storage facilities for this year's 🌾 harvest due to an overabundance of Ukrainian grains due to the EU's zero tariff for Ukrainian grains.

Video source - RT News

🔹 Venezuelan 🇻🇪 President N. Maduro said that his country will move forward on the path of ditching the US dollar in economic transactions. He remarked, "this is the path of Venezuela and the path of a free economy, where currencies are not used to punish countries and impose sanctions".

🔹The US' 🇺🇸aggressive financial tightening has led to serious inflation in Latin American countries, hollowing out of foreign exchange reserves and growing debt pressure. Latin American countries previously had close economic relations with the US, but the US' hegemony and abuse of economic sanctions have exposed the disadvantages of overly relying on the dollar.

🔹Based on the strength of the US dollar 💵, the rationale has long been that the American economy is so important to the international financial system that any measures taken by the US and its allies to cut off a country, group, or individual would ultimately change that actor’s behavior.

Last reported on this channel:

💠 The US 🇺🇸 will gradually lift sanctions on Venezuela 🇻🇪 only if the country moves toward restoring 'fair' elections.

💠 Russia's 🇷🇺 FM S. Lavrov visited Venezuela to discuss the formation of a multipolar world order.

💠 Iran 🇮🇷 & Venezuela to share technological advances in petrochemicals, oil & gas sectors.

💠 Trinidad & Tobago 🇹🇹 asked the US for authorization to import Venezuelan gas.

💠 Türkiye's 🇹🇷 FM M. Çavuşoğlu calls on the US to lift sanctions on Venezuela.

Video source - Francisco Rodríguez

🔹More than 23,000 people in northeast Italy 🇮🇹 were still displaced today, (May 22nd) almost one week after heavy rains ⛈ sparked widespread flooding and left 14 people dead. Six months of rain fell in just 36 hours early last week, causing almost two dozen rivers to burst their banks, transforming streets into rivers and submerging huge tracts of farmland.

🔹🇮🇹 Agricultural lobby Confagricoltura said at least 10 million fruit trees will have to be uprooted, and possibly as many as 40 million. More than 600 roads remained closed on Monday, with the region estimating at the weekend that more than 620 million euros was needed to rebuild the water-logged road and transport network.

🔹Italian PM Giorgia Meloni left the G7 summit in Hiroshima 🇯🇵 a day earlier to attend to the situation in Italy. In the midst of Italy's crisis she continues to pledge military aid to Ukraine, saying "Ukraine knows it can count on Italy's all-round support". Her gov't is now considering help to train Ukrainian 🇺🇦pilots in using F16 jets. Italy has contributed about one billion euros thus far to Ukraine.

🔹Yesterday, Mount Etna, Europe’s most active volcano, 🌋 was erupting, spewing ash on Catania, eastern Sicily’s 🇮🇹 largest city, and forcing a suspension of flights at that city’s airport. The 10,925-foot-high volcano, the tallest in Europe, has been known to erupt multiple times per year, though the last major event was in 1992.

Video source - CityNews & euronews

🔹Finnish 🇫🇮 state-owned gas wholesaler Gasum has terminated a contract to buy natural gas from Gazprom Export via pipelines from Russia 🇷🇺. Gazprom ceased pipeline-based natural gas deliveries to Gasum last year May in a dispute over payments, and the two sides had been in talks to resolve the matter.

🔹Gasum said it would not fulfill Gazprom’s demand to pay for piped gas in rubles after US & EU sanctions prevented payments through normal agreements. Russian fossil gas has been piped into Finland since the 1970s, with the state-owned Gasum having been responsible for the supply.

🔹The termination concerns only pipeline supply, whereas “the long-term LNG supply contract Gasum has with Gazprom Export remains in place,”. Gasum 🇫🇮 has bought around $188 million worth of natural gas from Russia since February 2022. Gazprom supplied the company with 1.49 billion cubic meters of gas in 2021, representing two-thirds of Finland’s total consumption.

Last reported on this channel:

💠 Finland 🇫🇮 tests their newest nuclear reactor Olkiluoto 3.

💠 Finland has proposed a temporary 30% windfall tax on profits from the country's electricity 💡companies.

💠 Finland terminated a contract with Russia's 🇷🇺 Rosatom to build a nuclear facility in Finland.

💠 Gazprom cuts gas supply to Finland due to failure to pay in rubles but continues to buy Russian LNG 🚢 supplies.