War Machine

[JohnD]

"Gazprom plunges to worst loss in decades as sales to Europe collapse

Energy giant suffers fallout from Ukraine war as Europe weans itself off Russian supplies"

FT.com

"Russian energy giant Gazprom plunged to its biggest loss in at least a quarter of a century after gas sales more than halved in the fallout from Vladimir Putin’s war in Ukraine.

The loss of Rbs629bn ($6.9bn) in 2023 underlines how the Russian president’s invasion of Ukraine has ravaged the state-owned natural gas monopoly, leading to plummeting sales in Europe, its main source of income.

Gazprom’s revenues fell almost 30 per cent year-on-year to Rbs8.5tn, with gas sales dropping from Rbs8.4tn to Rbs4.1tn."

 

[JohnD]

"Analysts said the losses showed how Gazprom, once a cash-rich “national champion” that used its strong hold over Europe’s energy supply as a geopolitical weapon, had failed to adapt to losing the EU market.

Gazprom’s revenue from gas sales outside Russia fell from Rbs7.3tn in 2022 to Rbs2.9tn last year, a drop analysts said was mostly driven by the loss of its European sales.

European countries, meanwhile, have had greater success than expected in finding alternative sources of gas: Russia’s share of Europe’s gas imports dropped from 40 per cent in 2021, the last full year before the invasion, to 8 per cent in 2023, according to EU data.

The results showed that what was once Gazprom’s core business — selling gas to Europe — had become a lossmaking millstone only partially offset by profits from its oil sales, analysts said."

 

[JohnD]

"A US crackdown on banks financing trade in goods for Vladimir Putin’s invasion of Ukraine has made it much more difficult to move money in and out of Russia, according to senior western officials and Russian financiers.

Moscow’s trade volumes with key partners such as Turkey and China have slumped in the first quarter of this year after the US targeted international banks helping Russia acquire critical products to aid its war effort."

FT.com

 

[gas112]

Russia to grow faster than all advanced economies says IMF

The IMF estimates Russia's economy will grow faster than the likes of the US, UK and Germany this year.

www.bbc.co.uk

Yep they look like they are struggling

 

[JohnD]

Yep they look like they are struggling

Their industrial production of bombs and shells has been stepped up considerably.

 

[ajohn]

Russia is going to exercise their nuke capability. The pundits will see this as intent to use them. Curious area as all that have them will under what ever conditions they happen to have set. We fire off our own to see how well they work from time to time and to exercise the kit. The Russian aspect is said to be due to mention of none Ukrainian troops in numbers in Ukraine eg EU troops. Think it's something the French have mentioned. They then call in China, tell the Russians that they must not use them.

Also Ukraine was loosing and the new weapons supply will sort that out. Implicationt - Ukraine will win now. Blinken has said ok for them to supply the bulk as it means jobs for americans. Reason time taken for say Europe to boost production. There may be cost implications as well.

 

[gas112]

Their industrial production of bombs and shells has been stepped up considerably.

and you think the IMF forecast is down to that .

 

[ajohn]

and you think the IMF forecast is down to that .

They also reckonned that Russia handled the introduction of the sanctions well. Some actions by the Bof R. Yes they do have one with the usual facilities in terms of actions.

 

[JohnD]

and you think the IMF forecast is down to that .

I am aware that Russia has increased war production.

Do you think they have increased production of butter?

Cars? TVs? Pork pies? Gas? Houses? Lawnmowers?

 

[gas112]

I am aware that Russia has increased war production.

Do you think they have increased production of butter?

Cars? TVs? Pork pies? Gas? Houses? Lawnmowers?

and you think if someone increases just weapon production it would make them the worlds best economy . Jez and there was everyone thinking north korea was third world

 

[JohnD]

the worlds best economy

Where did you hear that?

 

[gas112]

Where did you hear that?

ok i should have added in the coming year . As per the IMF who you quoted earlier
But then you knew what i was getting at

 

[JohnD]

It can be measured in various ways. Some organisations calculate as if they believe the numbers reported by Russia. Nobody knows the real numbers.

However:

How Big is Russian GDP?: | World Economics

Recent media coverage in relation to the Ukraine invasion has ranged from “Only 11th biggest in the world", and "smaller than Italy", to 6th biggest, just behind Germany". - - The reason for such great differences is that many GDP judgements are still made in nominal terms, with all countries...

www.worldeconomics.com

 

[JohnD]

ok i should have added in the coming year . As per the IMF who you quoted earlier
But then you knew what i was getting at

IMF did not say best.

Fast growing does not mean big, or best.

Russia is a very large country. Its GDP is less than Italy.

It has rather a large "informal economy." Gangsters might not pay much tax.

If you are a beggar, with an income of 50p a day, and this year your average income increases to 55p a day, you have had a large increase in percentage terms. You are still a beggar.

 

[gas112]

IMF did not say best.

Fast growing does not mean big, or best.

Russia is a very large country. Its GDP is less than Italy.

If you are a beggar, with an income of 50p a day, and this year your average income increases to 55p a day, you have had a large increase in percentage terms. You are still a beggar.

now if its says fastest growing that means it will be grow faster than any other country and in anyone ones terms the fastest is the best for that period