Tag Archives | Oil

The Indo-U.S. Trade Agreement as it had been negotiated earlier, before its basis was knocked out by a court ruling on Trump tariffs, had been an “unequal treaty”, allowing the U.S. to charge much higher tariffs on Indian exports than the other way round, and stipulating amounts of American goods that India had to buy, but not the other way around.

Nuuk states that the landing of the drilling equipment was never authorized, even as the energy company plans to begin drilling in October.

The message was clear: comply or face the same fate.

The Russian tanker Universal, the second shipment of fuel from Moscow to support Cuba in the face of the energy crisis aggravated by the U.S. blockade.

Markets are trying to keep the simulation going a little longer, but they cannot. The old is dying and the new, now, can be born.

Oil prices have shot up in terms of U.S. dollars, and this in turn has been accompanied by a depreciation of other currencies, especially Asian currencies, vis-à-vis the dollar, causing even higher inflation in the periphery compared to the metropolitan capitalist centres.

A Russian oil tanker carrying 730,000 barrels of crude oil docked at the Cuban port of Matanzas this week, delivering the largest fuel shipment to reach the island in months.

The ship is carrying approximately 100,000 tons of oil classified as humanitarian aid, in a context marked by a severe energy crisis affecting the Caribbean island.

The policy of restricting trade with the country’s Communist government was put into full force under the Kennedy administration, with the explicit goal of causing enough economic hardship, hunger and desperation to spur regime change.

Trump boasted this week that he could ‘take’ Cuba and do ‘whatever he wants’ with the island nation, coinciding with major power outages resulting from the blockade.

Since the beneficiaries of the oil price rise will be immediately holding their windfall profits quite substantially as bank deposits that create no direct demand for goods and services, while the losers from inflation will have to curtail their total demand for goods and services in real terms, such an inflation will have a depressing effect on the level of world aggregate demand, and hence will cause a recession in the world economy.

The Cuban president links ongoing blackouts to U.S. energy blockade.

India’s present-day rulers should exercise their prerogative to take independent decisions. But, for that to happen, as Rabindranath Tagore wrote, the mind should first be without fear and the head held high. 

U.S. Treasury Secretary Scott Bessent wrote on social media that this was a “deliberately short-term measure” and would not be of “significant financial benefit” to Russia.

Venezuela’s oil won’t be decided by fine print. It will be decided by power. Who can enforce terms. Who can resist. Who can reverse what is imposed.

While the island faces an unprecedented crisis, the Kremlin is demonstrating Russian solidarity to mitigate the effects of the suffocating U.S. policy toward Cuba.

Members of the Canadian Network on Cuba discuss the escalating U.S. oil blockade and the dire risks facing the island.

The organizations and the José Martí Association of Cuban Residents in Mexico called for strengthening international solidarity, demanding an end to the blockade, and supporting the Cuban people, reiterating that “Cuba is not alone.”

Weaponizing the World’s Oil Trade is the Bedrock of the U.S. Rules-Based Order.

Weaponizing the World’s Oil Trade is the Bedrock of the U.S. Rules-Based Order.