Faisal Islam Profile picture
Mar 10 6 tweets 2 min read
Abramovich sanctioned by UK government…

assets.publishing.service.gov.uk/government/upl…
Govt: RA “a pro-Kremlin oligarch.. assoc with a person who is/has been involved in destabilising Ukraine & undermining & threatening territorial integrity, sovereignty & independence of Ukraine, namely Vladimir Putin, with whom ABRAMOVICH has had a close relationship for decades”
Govt says that steel maker Evraz Plc over which Abramovich “exercises effective control” “is or has been involved in … potentially supplying steel to the Russian military which may have been used in the production of tanks”
Sanctions document also lists his alleged connections to Igor Shuvalov and Alisher Usmanov…

Abramovich’s team have recently denied close connections to the Kremlin.
Alongside Abramovich… others sanctioned, big names…:

Oleg Deripaska has stakes in En+ Group
Igor Sechin is the Chief Executive of Rosneft
Alexei Miller is CEO of energy company Gazprom
Dmitri Lebedev is Chairman of the Board of Directors of Bank Rossiya
This is what happens if you try to buy a ticket for Chelsea vs Newcastle…

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More from @faisalislam

Mar 9
Coming up - fascinating iv with Governor of Central Bank of Ukraine, targeting both inflation, & every hard currency flow into Russia, while keeping cash machines and refugees bank accounts functioning.

Wants more sanctions & reflects on precedent set in targeting a central bank
NEW:
BBC learns Russia suspended from Bank for International Setttlements, as requested by Ukraine CB Governor in interview with us yesterday.

“BIS will not be an avenue for sanctions to be circumvented. access of Central Bank of Russia to all BIS services..has been suspended."
Worth unpacking what Kyrylo Shevchenko, the NBU Governor, told us, about the sheer breadth of how Ukraine is trying to get whole of Russia to reap the economic consequences of Putin’s decision to invade… painstakingly trying to seal up every pipe of hard cash into Moscow…
Read 13 tweets
Mar 9
Gas down 25% to 374 pence a therm - still extremely high, just not as off scale…

Economists such as Capital Economics now see avg fuel bills 2.5-3k, inflation peak at over 8%, (or nearly 11% on Retail Price Index), and perhaps as important remaining above 6% for rest of 2022… Image
Seen a few of these - significant diesel spike with margin above petrol here up at 18 p - normally 3-4p. to be clear these are well above average price, but at these most expensive stations, diesel not far off £2 a litre… and already above £100 a tank…
Average prices via RAC are 158p for unleaded and 165 for diesel…

Yesterday the petrol station I filmed at lunch time at 158/ mid 160s, had gone up over 3-4p per litre by 9pm… Image
Read 5 tweets
Mar 8
Looks like quite the olive branch/ off ramp to Putin here from President Zelenskyy:

“The people who elected me are not ready to surrender, we are not ready for ultimatums. But we can discuss with Russia the future of Crimea and Donbas”. president.gov.ua/en/news/ukrayi…
…in particular regarding the recognition of the independence of the occupied territories of the Donetsk and Luhansk regions, the Head of State noted that a compromise is possible on this point… 👀
Zelenskyy: “It is important to me how people who want to be part of Ukraine will live there. I am interested in the opinion of those who see themselves as citizens of the Russian Federation. However, we must discuss this issue…”
Read 6 tweets
Mar 8
Poland hands over all its MiG jets to the USA… who will replace with equivalents, and asks other western nations with MiGs to do the same… gov.pl/web/diplomacy/…
The Polish Air Force obtained the Mig-29s from direct purchases as Soviet Union fell, and from East German and Czech air forces too…
about 70 similar planes around NATO countries that could be used by Ukrainian AF pilots, apparently… considerable upgrade on Ukraines 98 combat aircraft, 37 Migs pre-war… danger to those massive Russian columns.

But interested to know why drones aren’t the most effective itc
Read 5 tweets
Mar 8
NEW
EU announce ambitious plan to cut the 155 billion cubic metres of Russian gas consumers by Europe to 50 by the end of 2022

* EU wide turning down of thermostats by 1C saving 10bcm
* frontloading renewable 20bcm
* LNG diversification 50 bcm
* pipeline diversification 10 bcm
This seems, rather ambitious.

And the politics of telling 450 million people to turn their thermostats down by 1 degree - how will it be enforced?
Little reference to coal or nuclear… energy.ec.europa.eu/system/files/2…
Read 6 tweets
Mar 8
NEW:

Shell announces “its intent to withdraw from its involvement in all Russian hydrocarbons, including crude oil, gas and LNG in a phased manner, aligned with new government guidance”. 

Stopping spot purchases of Russian crude and shutting its petrol stations there
The embargo on Russian oil is happening non officially… contributing to price rises…

Shell were called out by the Ukrainian foreign minister over the weekend …
Another example of Ukraine using leverage via multinationals for diplomatic means, to continue to squeeze Moscow…
Read 4 tweets

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