Sunday, September 07, 2014

Outrecuidance over overweening octroi...

OK, a sanction isn't really an octroi but who cares. Zerohedge on the news that on Friday (if a leaked FT report is correct, and it seems to be) that the EU Europe's has upped the ante and may be crossing the Rubicon in its sanctions strategy by targeting the main Russian energy exporters. A glance at the image (left, click to enlarge) will make the craziness of this move glaringly obvious. "If today's news is confirmed, Europe's dramatic shift in sanctions strategy means that Europe's embargo of both the US Dollar and the Euro will accelerate as Russia further intensifies its shift away from both the west and the petrodollar. The only and clear winner here: China..."

Interestingly the UK isn't as secure as it looks from the image above although I will give a hypothetical prize to anyone who can guess correctly the country 2nd on the list of where we import most of our coal from...[answer in red]

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