Wednesday, April 6

Germany temporarily steals Russian Gazprom unit

The guys at The Duran are pretty amazed and confounded by this latest turn of events, and Alexander is concerned that it presages the end of Germany as an industrial giant. 

Germany and UK seize Gazprom assets. Biden blocks Russian bond payments - YouTube

I can't find a news item specifically about the U.K., only that the U.K. has been thinking about "nationalizing" a retail Gazprom outlet but is now relieved that with the German move they won't have to, or something like that. It's confusing. 

The story gets quite complicated given that Russia seems to have preempted the German move by selling the Gazprom unit, and then Germany returned fire by claiming that the sale wasn't authorized, so they were seizing control of the unit, so there.  

Here is Bloomberg's explanation of the situation, although it's inaccurate to call what Germany did "nationalization."  They simply grabbed the unit -- temporarily, they say, until the sale can be sorted out or whatever.

Germany to Nationalize Gazprom Unit to Safeguard Gas Supply ( April 4

(Alexander explains the difference between nationalization and expropriation.)

As to the UK., a British move could be imminent.  Again, it's confusing. See this April 4 report:

UK government could take control of Gazprom's retail supply arm within days - report (

As to the bond business, more Shoot Yourself in the Foot policy from the Biden administration.  Speaking of which, Intel Slav posted a funny video of Biden being left out as people gather around Obama on his visit to the White House.  

Telegram: Contact @intelslava

Although the Duran didn't get around to discussing this, my first thought was if Germany falls, wouldn't this signal the end of the European Union?  And maybe the euro? 

Well, maybe the Germans will work things out with the Russians, at least in terms of energy supply, but it looks as if the country's Green party is happy with the thought of a deindustrialized Germany. And once you're deindustrialized, what do you need all that gas for, anyhow? The Germans can put up more windmills and raise more sheep so they can knit a lot of sweaters to wear in the winter months.  

[flipping a pen in the air]


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