| Trump hinting that "selective default" is an option 20:00 - Feb 16 with 9682 views | StokieBlue |
This is quite a huge thing if he's serious but in reality who knows if he's serious. Essentially Musk and thus Trump are saying that they don't feel they have to pay back some of the debt the US has issued.
That would be huge and probably not good for the US over the longer term.
https://www.theguardian.com/business/2025/feb/16/forget-trumps-tariffs-the-presi
SB |  | | |  |
| Trump hinting that "selective default" is an option on 13:32 - Feb 18 with 893 views | SuperKieranMcKenna |
| Trump hinting that "selective default" is an option on 13:22 - Feb 18 by DJR |
I wouldn't disagree with any of that but it's perhaps counter-intuitive but Europe imported a record amount of liquified natural gas from Russia in 2024.
https://www.ft.com/content/ef4230c1-befa-4053-97b2-397c69c20002
EU imports record quantities of Russian LNG in 2024
Bloc received 16.5mn tonnes of liquefied natural gas by mid-December despite efforts to reduce supplies from Russia [Post edited 18 Feb 13:27]
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That’s true but they are actually very small volumes compared to what can be transported via pipelines. I.e the infrastructure to China is not in place as it stands (compared to the multiple pipelines to Europe) hence Russia has never recovered export volumes since sanctions, nor is it projected to. |  | | |
| Trump hinting that "selective default" is an option on 14:59 - Feb 18 with 792 views | mellowblue |
| Trump hinting that "selective default" is an option on 13:22 - Feb 18 by DJR |
I wouldn't disagree with any of that but it's perhaps counter-intuitive but Europe imported a record amount of liquified natural gas from Russia in 2024.
https://www.ft.com/content/ef4230c1-befa-4053-97b2-397c69c20002
EU imports record quantities of Russian LNG in 2024
Bloc received 16.5mn tonnes of liquefied natural gas by mid-December despite efforts to reduce supplies from Russia [Post edited 18 Feb 13:27]
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Lot of Russian oil is also being bought by UK and EU members via India circa 300,000 barrels per month. Absurd when you think of the environmental cost of the double handling and double transporting going on. | | | |
| Trump hinting that "selective default" is an option on 15:07 - Feb 18 with 782 views | soupytwist |
| Trump hinting that "selective default" is an option on 13:32 - Feb 18 by SuperKieranMcKenna |
That’s true but they are actually very small volumes compared to what can be transported via pipelines. I.e the infrastructure to China is not in place as it stands (compared to the multiple pipelines to Europe) hence Russia has never recovered export volumes since sanctions, nor is it projected to. |
And it wasn't until relatively recently that Germany actually had a port with the capability to import LNG. They didn't need one because all their Russian gas came through pipelines until someone did some undersea military operations.
So the figure for Germany is a figure that represents a big increase from a starting point of nothing at all.
Edit to add: Whether European countries should be importing any LNG at all from Russia given our loudly trumpeted (no pun intended) sanctions is another question. [Post edited 18 Feb 15:08]
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| Trump hinting that "selective default" is an option on 16:00 - Feb 18 with 735 views | Steve_M |
| Trump hinting that "selective default" is an option on 13:22 - Feb 18 by DJR |
I wouldn't disagree with any of that but it's perhaps counter-intuitive but Europe imported a record amount of liquified natural gas from Russia in 2024.
https://www.ft.com/content/ef4230c1-befa-4053-97b2-397c69c20002
EU imports record quantities of Russian LNG in 2024
Bloc received 16.5mn tonnes of liquefied natural gas by mid-December despite efforts to reduce supplies from Russia [Post edited 18 Feb 13:27]
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On this specific point, the headlines are a bit misleading for a couple of reasons:
1). The only source of Russian LNG was Sakhalin in the Russian far east until 2018 when Yamal started, even then volumes were low until 2020.
2). Much of that LNG was transhipped in Europe before going elsewhere, some as far as China, until the EU banned transhipment last year (albeit it officially from March 25). Transhipment has already declined and some firms have imported that LNG instead.
The EU should finish the job and complete the ban on Russian LNG but the record levels headlines miss the context of why imports are up.
I won't mention which company tried to bring a cargo of Russian LNG into one of Germany's expensive floating LNG terminals last year though. Now that definitely didn't happen..... |  |
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| Trump hinting that "selective default" is an option on 16:30 - Feb 18 with 676 views | DJR |
| Trump hinting that "selective default" is an option on 16:00 - Feb 18 by Steve_M |
On this specific point, the headlines are a bit misleading for a couple of reasons:
1). The only source of Russian LNG was Sakhalin in the Russian far east until 2018 when Yamal started, even then volumes were low until 2020.
2). Much of that LNG was transhipped in Europe before going elsewhere, some as far as China, until the EU banned transhipment last year (albeit it officially from March 25). Transhipment has already declined and some firms have imported that LNG instead.
The EU should finish the job and complete the ban on Russian LNG but the record levels headlines miss the context of why imports are up.
I won't mention which company tried to bring a cargo of Russian LNG into one of Germany's expensive floating LNG terminals last year though. Now that definitely didn't happen..... |
Of course, I realise that overall European reliance on Russian energy has decreased a lot, but this graph indicates others (including Turkey, India, China and Africa) willing to take up the slack.
https://www.iea.org/data-and-statistics/charts/average-russian-oil-exports-by-co |  | | |
| Trump hinting that "selective default" is an option on 18:11 - Feb 18 with 554 views | Steve_M |
Yep, although the achievable prices are less.
Some interesting analysis suggesting that Russia may actually be hitting a tipping point economically after three years of sanctions and running a wartime economy. We've heard that before but one to watch.
(I'll add a link if I find it again). | |
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| Trump hinting that "selective default" is an option on 19:29 - Feb 18 with 491 views | SuperKieranMcKenna |
| Trump hinting that "selective default" is an option on 18:11 - Feb 18 by Steve_M |
Yep, although the achievable prices are less.
Some interesting analysis suggesting that Russia may actually be hitting a tipping point economically after three years of sanctions and running a wartime economy. We've heard that before but one to watch.
(I'll add a link if I find it again). |
Indeed - evidenced by Gazprom making a multi-billion loss for the first time in over 20 years. The supplies are being picked up cheaply in a predatory manner, and hasn’t stopped Russia burning through it’s liquidity (literally, since they’ve been burning off excess gas production). | | | |
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