The Transatlantic Liquefied Gas Dispute

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BERLIN/WASHINGTON (Own report) – German Foreign Minister Heiko Maas has once again reaffirmed that the German government insists on continuing with the highly controversial Nord Stream 2 gas pipeline. Despite persistent pressure from Washington, there will be no interference in the construction of the pipeline – which has long since begun – reiterated Maas at this years annual UN General Assembly in New York. At the same time, US efforts to promote the sale of US liquefied gas to Germany are stagnating. If the liquefied gas would be priced closer to the currently much cheaper pipeline gas, it could certainly be considered, according to the Uniper company (formerly EON). Uniper is currently contemplating the construction of a liquefied gas terminal in Wilhelmshaven. However, it would not even have one-fifth of the import capacity of Nord Stream 2. Plans for constructing a terminal in Brunsbüttel, which currently have the best chances of implementation, envisage the importation of only half as much LNG – primarily to fuel ships and trucks. Continue reading

Iran Sanctions, Emerging Markets And The End Of Dollar Dominance

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The trade war is a rather strange and bewildering affair if you do not understand the underlying goal behind it. If you think that the goal is to balance the trade deficit and provide a more amicable deal for U.S. producers on the global market, then you are probably finding yourself either confused, or operating on blind faith that the details will work themselves out.

Case in point, the latest reports that the U.S. trade deficit is now on track to hit 10-year highs, after a 7% increase in June. This is the exact opposite of what was supposed to happen when tariffs were initiated. In fact, I recall much talk in alternative media circles claiming that the mere threat of tariffs would frighten foreign exporters into balancing trade on their own. Obviously this has not been the case. Continue reading

Germany Wants to Dump Dollar, SWIFT System

As Global Geopolitics has noted for years, Bible prophecy tells you where relations between both America and Germany are heading. No book or news outlet is as up-to-date as the Bible.

 

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(Photo Credit: Society for Worldwide Interbank Financial Telecommunication)

 

This would be the first tangible sign of Berlin breaking away from Washington.

In a move meant to “strengthen European autonomy” in the wake of the U.S. walking away from the 2015 Joint Comprehensive Plan of Action nuclear deal with Iran and its opposition to the Nord Stream 2 pipeline project, Germany’s government is seeking an end to the dollar’s dominance as a global exchange currency.

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Winning: Juncker Agrees on Trump Trade Deal

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(Photo Credit: The White House)

 

The goal, according to both men, will be tariff-free trade.

Following their meeting Wednesday, President Donald Trump and European Commission President Jean-Claude Juncker announced they had agreed to a trade deal that will eventually result in tariff-free trade between the U.S. and the European Union.

Juncker said he came to Washington, D.C., with one goal in mind: to “make a deal,” and the goal was met. He called his discussions with the president a “good, constructive meeting.” Continue reading

Europe Can’t Rely On The US To Maintain World Order, Merkel Warns

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Having been called a “foe” by President Trump last week, German Chancellor Angela Merkel confirmed that she was right to say a year ago that Europe could no longer rely on the United States to impose order on the world, and that it needed to take matters close to home into its own hands.

“We can’t rely on the superpower of the United States,” Merkel told a news conference in Berlin. Continue reading

Trump Calls the European Union a Foe: ‘What They Do to Us in Trade’

 

President Donald Trump said during a Sunday interview with CBS News anchor Jeff Glor that the European Union is a foe.

“What’s your biggest competitor, the biggest foe globally right now?” Glor asked the president

“Well, I think we have a lot of foes. I think the European Union is a foe, what they do to us in trade,” Trump said. “Now, you wouldn’t think of the European Union, but they’re a foe.” Continue reading

Trump: ‘Germany Is Totally Controlled by Russia’

 

President Donald Trump shared on Twitter Wednesday a video of sharp words he directed toward NATO Secretary General Jens Stoltenberg about Germany being “totally controlled by Russia” regarding their energy relationship.

“Germany, as far as I’m concerned, is captive to Russia because it’s getting so much of its energy from Russia,” Trump told Stoltenberg at a bilateral breakfast ahead of the NATO summit in Brussels, Belgium. Continue reading

U.S. Seeks to Thwart Iran Flying Millions in Cash Out of Germany

Foreign ministers including Iranian Foreign Minister Javad Zarif and German Foreign Minister Heiko Maas take part in a Comprehensive Plan of Action ministerial meeting on the Iran nuclear deal

Foreign ministers including Iranian Foreign Minister Javad Zarif and German Foreign Minister Heiko Maas take part in a Comprehensive Plan of Action ministerial meeting on the Iran nuclear deal / Getty Images

 

Iran in need of cash after President Trump reimposed sanctions

Top Trump administration officials are working to stop Germany from allowing Iran to fly more than $350 million in cash out of the country and back to Tehran as part of a bid by the Iranian regime to restock its coffers ahead of a major financial crackdown by America, according to conversations with senior U.S. diplomats and officials on Capital Hill.

The Trump administration is already working to stop the German government from allowing this transfer following weekend reports that Iran is poised to fly around 300 million Euros out of the country as part of an ongoing scheme to skirt tough new U.S. economic sanctions, which were put back into effect after President Donald Trump decided to abandon the landmark nuclear deal. Continue reading

Russia Just Won Big In The European Gas War

LNG carrier

 

There’s been a lot of talk on both sides of the Atlantic about the U.S. pivot and efforts at locking in natural as market share in Europe. Much of this comes amid President Donald Trump’s so-called American energy independence push as well as both U.S. and several EU members thrust to wean Europe off of geopolitically charged Russian gas.

In fact, Trump has pushed for U.S.-sourced LNG to become so much of the EU’s energy security that several European states, particularly Germany, have accused the president of playing energy geopolitics, cloaking American concern for European energy security under the guise and to the benefit of U.S. LNG producers.

Now, however, Trump and U.S. LNG exporters will have an even harder time convincing key EU members to offset overreliance on Russian piped gas with U.S. LNG. Continue reading

Germany starts to build Nord Stream 2

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Danish and Swedish permits still pending (Photo: nord-stream2.com)

 

Germany has started to pour concrete on a Russian gas pipeline that risks dividing the EU and harming its energy security.

The construction began in Lubmin, on Germany’s Baltic Sea coast, on Thursday (3 May), with the laying of foundations for a terminal that will receive 55bn cubic metres (bcm) a year of Russian gas via the Nord Stream 2 pipeline when it goes online in 2020. Continue reading

Gold Leaving US Vaults: Signs of Upcoming Currency War and Armed Conflict

Gold Leaving US Vaults: Signs of Upcoming Currency War and Armed Conflict

 

The Turkish government has made the decision to repatriate all of its gold reserves that are currently housed in the US Federal Reserve System (FRS). Overall Turkey was storing 220 tonnes, valued at $25.3 billion, in the US, which it repossessed on April 19, 2018.

Turkey’s President Recep Tayyip Erdogan has toughened his stance against the US dollar (USD), declaring that international loans should be made in gold instead of the American currency. Ankara is seeking to reduce dependence on the US financial system. The gold’s homecoming was partly prompted by the US threats to impose sanctions if Turkey goes through with the signed deal to purchase Russian S-400 missile defense systems. Continue reading

Export World Champion under Pressure

BERLIN (Own report) – With intense shuttle diplomacy, members of the German government are seeking to avert the impending US punitive tariffs on European goods and the loss of access to the important US market. Following Germany’s Finance Minster Olaf Scholz’s visit to the US capital yesterday, Chancellor Angela Merkel is expected in Washington on Friday. Already in the run up to these visits, Berlin seems ready to envisage a revival of the Transatlantic Trade and Investment Partnership (TTIP). This strategic decision is accompanied by a clear frontline position against China, as was resolutely demanded by the Trump administration. In addition, German-Russian business relations are increasingly under attack in Washington. At the same time, EU criticism of Germany’s unilateral trade policies is growing. Germany’s export oriented economy is particularly vulnerable to the protectionism that is gaining strength on a global scale. Berlin’s Beggar-thy-Neighbor-Policy could prove a strategic disadvantage under these new global economic conditions. Continue reading

EU “Sounds Alarm” Over New US Sanctions On Russia; Germany Threatens Retaliation

Late on Friday, Congressional negotiators reached a deal to advance a bill that would punish Russia for its interference in the 2016 election and restrict the president’s power to remove sanctions on Moscow, according to the WSJ. The measure, if signed into law, will also give Congress veto powers to block any easing of Russian sanctions by the president. And while it remained unclear if President Donald Trump would sign the bill if it reaches his desk, which is now likely, the loudest complaint about the bill to date has emerged noe from the Oval Office, but from Brussels, after the EU once again urged (and warned, and threatened) US lawmakers to coordinate their anti-Russia actions with European partners, or else. Continue reading

Germany, Austria vs. US Senate: America and Europe on Collision Course

 

Germany and Austria have lashed out against US Senate for approving a legislation tightening sanctions on Russia. The bill has a provision that enables the United States to impose sanctions on European firms involved in financing Russian energy export pipelines to Europe. European companies could be fined for breaching US law. In a joint statement, German Foreign Minister Sigmar Gabriel and Austrian Chancellor Christian Kern accused the US of threatening European economic interests, describing it as an illegal attempt to boost US gas exports. The United States recently started shipping liquefied natural gas to Poland and has ambitions to cultivate other European customers.

The bill says the US government «should prioritize the export of United States energy resources in order to create American jobs, help United States allies and partners, and strengthen United States foreign policy». But the European foreign chiefs believe that «Europe’s energy supply is Europe’s business, not that of the United States of America». Gabriel and Kern said they «can’t accept» proposed US sanctions targeting European energy companies as part of measures against Russia.

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U.S. To Undermine Russia’s Gas Monopoly In Europe

The first U.S. LNG shipment will soon arrive in Europe, marking a new era for energy on the continent. Cheniere Energy’s newly completed Sabine Pass facility on the U.S. Gulf Coast recently sent a shipment of American liquefied natural gas, which should arrive in Portugal within a few days.

“LNG coming out of the U.S. is probably the single most important thing that will transform the future LNG market,” Melissa Stark, energy managing director at Accenture, told Bloomberg. “It heralds the arrival of a global market.” Continue reading