EU member states proof fourth round of sanctions against Russian oligarchs, entities. The also say that they will ban a sales of luxury goods to Russia valued in excess of €300.
Archives of “March 14, 2022” day
rssEU pushed to adjust sanctions to ensure EU can still buy oil from Russia – report
Oil is taking a beating today with WTI crude now down to $102.42, a nearly $7 decline.
The latest sources report says the EU will impose new sanctions on Rosneft, transneft, Gazprom Neft and will block investments in fossil fuels.
The new package will freeze funding from sources in the EU for new production and exploration however member states insist that new measures wouldn’t prevent oil purchases.
Oil dipped on the headlines in large part because supply won’t be broken but I don’t think that’s a supply. It will be interesting to see how Russian oil investment impacts production in the long term. The sanctions on Venezuela wrecked its oil industry but Russia has access to much larger industry domestically and via China.
Steve Wozniak believes BTC will reach $100K
Bitcoin has decreased over the past week by 0.9%, ending it at around $38,700. Yesterday, the decline continued, bringing the price to 38500. Ethereum lost 0.7% in 24 hours and added 1.5% in a week. Other leading altcoins from the top ten show mixed dynamics over 24 hours: from a decline of 3.8% (XRP) to a rise of 3.3% (Terra).
According to CoinMarketCap, the total capitalization of the crypto market decreased by 14% in 24 hours, to $1.72 trillion. The Bitcoin Dominance Index fell 0.1% to 42.4%.
Russia: Further developments in Ukraine depends on Kyiv’s willingness to compromise
The foreign ministry is cited as saying that there is no reason for UN peacekeepers to be sent to Ukraine. Adding that further progress in regulating the situation there will depend on Kyiv’s willingness to compromise.
That doesn’t sound like there is much progress or hope in any talks at the moment.
Elon Musk says won’t sell his Bitcoin, Ethereum, Doge against rising inflation backdrop
Slight jump in crypto assets on the tweet. He says that:
“As a general principle, for those looking for advice from this thread, it is generally better to own physical things like a home or stock in companies you think make good products, than dollars when inflation is high. I still own & won’t sell my Bitcoin, Ethereum or Doge fwiw.”
Crypto – Concerns that EU vote coming on Monday could be a ‘de-facto’ ban of Bitcoin
Crypto-assets issued and/or traded in the EU “shall be subject to minimum environmental sustainability standards and set up and maintain a phased rollout plan to ensure compliance” with those requirements, according to the final draft for the law, dubbed MiCa, that was seen by Bloomberg News. The Economic and Monetary Affairs Committee will vote on the bill on Monday.
The reference to minimum sustainability as well as rollout requirements appear to be last-minute changes introduced to curb, or ban, the use of digital currencies working on a so-called “proof-of-work” consensus mechanism, for instance Bitcoin and Ethereum .
Crypto-focused media says the outcome of the vote appears to be more or less 50-50.
BTC has lost ground as concerns gather pace:
China Securities Journal say PBOC to cut interest rates further
Paraphrasing the remarks:
- China has made it clear that it wants to stabilize growth
- People’s Bank of China has already taken some measures in this direction
- In the future, the People’s Bank of China’s policy interest rate, market benchmark interest rate and market interest rate will all decline further
No specifics of when were offered up, “In the future” will have to do.
Russian attack in Ukraine just 15 miles from Poland – a “significant” development
Jake Sullivan, the White House national security adviser, spoke on the attack close to the border with Poland:
“If there is a military attack on Nato territory, it would … bring the full force of the Nato alliance to bear in responding to it,”
The UK’s Michael Gove on the same, warned that Putin was “pushing the boundaries”, and has “no moral limits”.
The base targetteed is in Yavoriv, called the International Centre for Peacekeeping and Security and previously used by Nato troops to train Ukrainian soldiers.
- no Nato troops were at the site at the time of the attack
- Russia said it had killed “up to 180” foreign fighters & destroyed a cache of weapons donated by the West in the long-range missile attack
China’s US embassy says it hasn’t heard Russia has asked China for military assistance This is related to the report that first appeared in the Financial Times
In the report (gated) the FT cites US officials and another person familiar with the situation.
Washington Post and New York Times carry the same sort of story.
If you want success, plan your trade
