Javier Blas, the brilliant energy journalist at Bloomberg, posted the most astonishing tweet on Wednesday:
As Blas went on to note in his Bloomberg column, the reason for the Russian oil producer’s failure to sell its oil is that market traders are “self-sanctioning”. Traders – even though they are allowed by Western governments to buy the oil – have made their own decision to boycott Russian oil whether it be on reputation grounds or indeed moral objections.
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An early proponent of dividend recaps – the financial two-step where equity capital is replaced by debt – was Thames Water.
Tehran will be thinking through how far it wants to take this, even as the ground moves beneath its feet.
Vance vs Walz was old-school politics: cordial and ever so slightly dull.
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