Wednesday, September 24, 2014

Ukraine situation ( September 24 , 2014 ) With all eyes and ears following the latest bombing runs in SYRAQ , recall the Ukraine / Russia situation remains very unsettled ...... Internal and external politics ( Russia / Ukraine / EU / US on Ukraine situation ) , state of play - ceasefire and negotiations to implement Minsk Protocol , Sanctions / Sanction reaction watch , Natural gas situation fo Ukraine and EU .....


http://www.zerohedge.com/news/2014-09-25/russia-asset-freeze-threat-sends-dax-reeling


Russia Asset Freeze Threat Sends European, US Stocks Reeling

Tyler Durden's picture
Submitted by Tyler Durden on 09/25/2014 11:08 -0400



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Germany's DAX is tumbling this morning (and back in the red for 2014) as The Moscow Times reports Russian courts could get the green light to seize foreign assets on Russian territory under a draft law intended as a response to Western sanctions over the Ukraine crisis. Whether this is retaliation at Italian tax police seizing €30m in assets, including a luxury hotel in Rome and two villas in Sardinia, controlled by Arkady Rotenberg, is unclear, but the timing is highly coincidental and Rotenberg has been a longtime ally of Russian president Vladimir Putin.

DAX is sliding notably... (not helped by chatter about Russia "throttling" gas supplies to Europe)

back to negative year-to-date...

Russian courts could get the green light to seize foreign assets on Russian territory under a draft law intended as a response to Western sanctions over the Ukraine crisis.

The draft, which was submitted to parliament on Wednesday by a pro-Kremlin deputy, would also allow state compensation for an individual whose property is seized in foreign jurisdictions.

The draft law, published on a parliamentary database, would allow for compensation for Russian citizens who suffer because of an "unlawful court act" in a foreign jurisdiction and clear the way to foreign state assets in Russia being seized, even if they are subject to international immunity.



http://www.zerohedge.com/news/2014-09-25/no-more-foreplay-russia-threatens-european-gas-supply-disruptions


No More Foreplay: Russia Threatens European Gas Supply Disruptions

Tyler Durden's picture
Submitted by Tyler Durden on 09/25/2014 12:26 -0400



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It appears Vladimir Putin is willing to hit'em while they're down. Early European equity weakness (and safe-haven flows) on asset-freeze threats have accelerated as Bloomberg reports, Russian energy minister Alexander Novak threatens gas supply disruptions if the EU continues to re-export Russian gas to Ukraine. 3Y German bond yields have plunged to -4.1bps, a record low close and European stocks are closing on their lows of the day.
  • *RUSSIA THREATENS GAS SUPPLY THROTTLING TO EUROPE: HANDELSBLATT
3Y yield at record (negative) lows...

As Bloomberg reports, Russia Threatens Gas Supply Throttling to Europe: Handelsblatt
EU re-exporting Russian-purchased gas to Ukraine exceeds existing treaties, Novak tells newspaper

Novak says only adherence to negotiated agreements can guarantee undisrupted gas supplies to Europe: Handelsblatt

Novak says Ukraine has rejected constructive offers from Russia on pricing, reducing Ukrainian gas debt and future pre-payments ahead of talks tomorrow in Berlin: Handelsblatt
*  *  *

*  *  *
However...
European storage facilities contained a record 75.7 billion cubic meters (2.7 trillion cubic feet) of gas yesterday, making them more than 91 percent full, according to Gas Infrastructure Europe, a Brussels-based lobby group.

“If colder weather arrives, then storage levels could well be drained,” Citigroup said.

*  *  *
It appears Europe's short-term plan to mitigate the "Winter War" may have bigger boomerang consequences than they seem to believe (andbear in mind the consequences of cold, pissed off Europeans in the past).


http://en.itar-tass.com/economy/751335


Hungary’s FGSZ suspends gas supply to Ukraine





VIENNA, September 25. /ITAR-TASS/. Hungary’s gas operator FGSZ Ltd. has suspended gas supplies to Ukraine for an indefinite period of time, the company said on Thursday.
The decision was made to meet the growing domestic demand for gas, the company said.
Gas supplies to Ukraine were suspended at 18:00 local time on September 25. “Gas supplies have been halted for an indefinite period of time,” the company said.
In March 2013, Ukraine and Hungary agreed on gas supplies to Ukraine in the amount of up to 6.1 billion cubic metres a year (16.6 million cubic metres a day).
It was also stated that the system could operate intermittently, depending on current commercial and technical conditions.


http://en.itar-tass.com/economy/751349

Ukraine’s Naftogaz calls suspension of gas supplies from Hungary unexpected

Economy
 September 26, 4:06 UTC+4
The company said gas supplies from Ukraine to Hungary proceeded in a regular regime
KIEV, September 26. /ITAR-TASS/. Hungary’s suspension of gas supplies to Ukraine was “unexpected,” Ukraine’s Naftogaz said on Friday.
“At 17:77 local time /18:55 Moscow time/, the Ukrainian operator of the gas transportation system received an electronic message from the Hungarian gas operator FGSZ notifying about the suspension of gas supplies from 19:00 local time /20:00 Moscow time/ due to technical reasons until further notice,” Naftogaz said in a release.
Hungary’s FGSZ suspends gas supply to Ukraine
The company said gas supplies from Ukraine to Hungary proceeded in a regular regime. Naftogaz said it hoped the unexpected halt in gas supplies would not affect the stability of the system and reaffirmed its reliability as a partner.
Naftogaz has a contract with private companies in Western Europe on gas supplies via Hungary. After FGSZ had stopped offering transit facilities to these companies, gas supplies from Hungary to Ukraine halted, the company said.
According to earlier reports, Hungary’s gas operator FGSZ Ltd. has suspended gas supplies to Ukraine for an indefinite period of time. The decision was made to meet the growing domestic demand for gas, the company said.
In March 2013, Ukraine and Hungary agreed on gas supplies to Ukraine in the amount of up to 6.1 billion cubic metres a year (16.6 million cubic metres a day).






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EU Set for New Clash with Russia over Ukraine Pact

The EU seemed set for a fresh clash with Russia after the bloc's enlargement chief accused Moscow of living in a "virtual reality" over its interpretation of a recent deal aimed at defusing trade...
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