Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-54459 Wed, 23 Jul 2014 18:59:54 GMT Putin's Ukraine Woes Compounded by $103 Billion Yukos Claim http://implode-explode.com/viewnews/2014-07-23_PutinsUkraineWoesCompoundedby103BillionYukosClaim.html Russia will discover next week how much it may be asked to pay for the confiscation a decade ago of Mikhail Khodorkovsky's Yukos Oil Co., then the country's biggest oil producer.

The Permanent Court of Arbitration in The Hague will rule on July 28 on a $103 billion damages claim the company's former owners filed against Russia in 2007. There's "very limited room" for appeal and Russia will resist paying, so any amount awarded would trigger a global legal battle to seize state property, including assets of OAO Rosneft (ROSN), which acquired most of Yukos in a series of forced auctions, Van Harten said.''

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iehi-feed-54455 Wed, 23 Jul 2014 15:05:11 GMT Venezuela admits its ever growing dependency with China http://implode-explode.com/viewnews/2014-07-23_VenezuelaadmitsitsevergrowingdependencywithChina.html iehi-feed-54450 Tue, 22 Jul 2014 14:42:01 GMT Saudi Stocks Soar as Kingdom Opens to Foreigners Next Year http://implode-explode.com/viewnews/2014-07-22_SaudiStocksSoarasKingdomOpenstoForeignersNextYear.html iehi-feed-54440 Tue, 22 Jul 2014 01:02:11 GMT Deadly game of human chess | David McWilliams http://implode-explode.com/viewnews/2014-07-21_DeadlygameofhumanchessDavidMcWilliams.html iehi-feed-54438 Mon, 21 Jul 2014 18:08:45 GMT Ukraine crash: Separatists reportedly turning over bodies, black boxes http://implode-explode.com/viewnews/2014-07-21_UkrainecrashSeparatistsreportedlyturningoverbodiesblackboxes.html iehi-feed-54426 Sun, 20 Jul 2014 22:29:23 GMT Mish: Video of MH17 Missile Hit (?); Evidence Round-Up http://implode-explode.com/viewnews/2014-07-20_MishVideoofMH17MissileHitEvidenceRoundUp.html iehi-feed-54425 Sun, 20 Jul 2014 22:03:47 GMT Putin, it's your payback time - M K Bhadrakumar http://implode-explode.com/viewnews/2014-07-20_PutinitsyourpaybacktimeMKBhadrakumar.html The point is, history has not ended and Russia can never be part of the Western world. It is too big and too different and too powerful and unmanageable. Russia's presence in the European tent challenges the US' trans-Atlantic leadership and questions the very raison d'etre of the NATO, and indeed Euro-Atlanticism as the leitmotif of the US global strategies ceases to be. 

It is about time the ‘westernists' among the Moscow elites realize that all they have is a pipe dream. There is no precedent of the US ever having treated another country -- including Britain -- on an equal footing. Therefore, Russia's destiny is dictated by the need to consolidate its standing as an independent global player. It has the capacity to do it, but, alas, often enough not the will and interest in discerning who is a potential ally and who is not.

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iehi-feed-54420 Sat, 19 Jul 2014 17:07:40 GMT Sanctions and Airliners -- Paul Craig Roberts http://implode-explode.com/viewnews/2014-07-19_SanctionsandAirlinersPaulCraigRoberts.html iehi-feed-54410 Fri, 18 Jul 2014 13:53:29 GMT Was Flight MH-17 Diverted Over Restricted Airspace? http://implode-explode.com/viewnews/2014-07-18_WasFlightMH17DivertedOverRestrictedAirspace.html iehi-feed-54409 Thu, 17 Jul 2014 19:51:24 GMT Malaysia Airlines Passenger Jet Crashes in Ukraine (MORE IMAGES AND INFO) http://implode-explode.com/viewnews/2014-07-17_MalaysiaAirlinesPassengerJetCrashesinUkraineMOREIMAGESANDINFO.html The separatists were quoted by the Russian news agency Interfax as saying that they had found the "black box" flight recorder.

Andrey Tarasenko, a miner who was walking home from work with a friend, said that he saw a white trail go up from the ground, then heard an explosion two seconds later, then saw smoke risking from the ground 10 seconds after that. He said he was about 10 miles away.

"You know how you see a trail from a plane -- it was the same, but it was a missile launched from the ground," he said.

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iehi-feed-54408 Thu, 17 Jul 2014 19:22:25 GMT Russian Reliance on Chinese Loans May Blunt Sanctions' Impact http://implode-explode.com/viewnews/2014-07-17_RussianRelianceonChineseLoansMayBluntSanctionsImpact.html iehi-feed-54405 Thu, 17 Jul 2014 17:52:43 GMT Malaysia Airlines plane disappears over Ukraine, feared shot down, as sides blame each other http://implode-explode.com/viewnews/2014-07-17_MalaysiaAirlinesplanedisappearsoverUkrainefearedshotdownassidesb.html "The plane was shot down by the Ukrainian side," said Serhiy Kavtaradze, a member of the rebels' security council, according to the Russia's Interfax news agency. "We simply do not have such air defense systems." He said rebels' shoulder-launched antiaircraft missiles "have a firing range of only 3,000 to 4,000 meters" and that passenger jets fly at much higher altitudes.

...

Andrei Purgin, the first deputy prime minister of the Donetsk People's Republic, said the Malaysia Airlines Boeing 777 could have been brought down by Ukrainian forces... He denied that the rebels possess the SA-17 Buk air-defense as Kiev alleges.

However, the Associated Press reported that a similar launcher was seen by the agency's journalists near the eastern Ukrainian town of Snizhne earlier Thursday. The Buk missile system can fire missiles up to an altitude of 22,000 meters (72,000 feet), AP said.

Update: See President Putin's plane might have been the target for Ukrainian missile.

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iehi-feed-54404 Thu, 17 Jul 2014 17:14:00 GMT The significance of a BRICS development bank - Jim Rickards http://implode-explode.com/viewnews/2014-07-17_ThesignificanceofaBRICSdevelopmentbankJimRickards.html iehi-feed-54400 Thu, 17 Jul 2014 15:25:53 GMT Raising Stakes on Russia, U.S. Adds Sanctions http://implode-explode.com/viewnews/2014-07-17_RaisingStakesonRussiaUSAddsSanctions.html iehi-feed-54367 Mon, 14 Jul 2014 16:03:59 GMT Sanction Spiral Hits London, Plays Out Putin's Master Plan http://implode-explode.com/viewnews/2014-07-14_SanctionSpiralHitsLondonPlaysOutPutinsMasterPlan.html iehi-feed-54357 Sun, 13 Jul 2014 14:10:35 GMT Watch this caliph rip - Pepe Escobar http://implode-explode.com/viewnews/2014-07-13_WatchthiscaliphripPepeEscobar.html iehi-feed-54349 Sat, 12 Jul 2014 14:22:45 GMT Reality Optional Economics | KUNSTLER http://implode-explode.com/viewnews/2014-07-12_RealityOptionalEconomicsKUNSTLER.html iehi-feed-54348 Sat, 12 Jul 2014 14:12:54 GMT Kurds seize Iraq oilfields, ministers pull out of Baghdad government http://implode-explode.com/viewnews/2014-07-12_KurdsseizeIraqoilfieldsministerspulloutofBaghdadgovernment.html iehi-feed-54346 Sat, 12 Jul 2014 00:38:26 GMT Russia to help to create major transport hub in Cuba, Forgives Debt, in Major Latin American Development Push http://implode-explode.com/viewnews/2014-07-11_RussiatohelptocreatemajortransporthubinCubaForgivesDebtinMajorLa.html This is actually a compilation of three important stories on Russia's activities in Latin America.

First story, Russia to help to create major transport hub in Cuba:

Russia, Cuba and possibly other countries will pool their efforts for creating a major transport hub in Cuba by upgrading the port of Mariel and building a modern international airport in San Antonio de los Banos, President Vladimir Putin said.

...

"Our short-term prospects include the development of new oilfields in the Cuban offshore area. To these ends, Zarubezhneft and Rosneft engage in active cooperation with Cupet, Cuba's state oil company," Putin said, adding that INTER RAO was also planning to join the construction of power units for the Maximo Gomez and East Havana TPP. The supply of Russian electric power equipment to Cuba is well underway.

Putin noted that a substantial number of Russian companies - specialising, in particular, in the production of reinforced plastic goods, auto spare parts, tractor assembly and installation of heavy equipment for the railway industry - had shown interest in closer cooperation due to the development of the Mariel special economic zone in Cuba.

...

The second story goes more into the debt forgiveness aspect:

Russia has written down $32 billion of Cuba's Soviet era debt. Russian President Vladimir Putin signed the law ahead of his official visit to Latin America, with Havana as his first stop.

The agreement was first signed in October 2013 and draws a line under a twenty-year dispute.

Cuba is now required to pay back $3.2 billion over the next 10 years.

Also note:

The tour will culminate with the BRICS summit, where the final bricks of a joint development bank will be laid. The new financial body that'll focus on infrastructure projects will have a $100 billion budget, and could represent a solid attempt by developing economies to become less dependent on loans from such international organizations as the International Monetary Fund and the World Bank.

And here's the final one, Russia ready to cooperate with all Latin American associations, which is more of a fluffy overview of Russia's overture to Latin America:

"In this region, the traditions of love of freedom and respect for other nations and cultures are strong, and there are practically no serious intergovernmental conflicts or the wish to pursue the divide and rule policy. On the contrary, nations in the region are ready for joint action to protect their shared Latin American home," Putin said in an exclusive interview to the Latin American news agency Prensa Latina ahead of his South American tour, during which he will visit Cuba, Argentina and Brazil.

But note

Putin said that the establishment of contacts between CELAC and the countries taking part in the Customs Union and Common Economic Space would open up many new opportunities. "Russia, Belarus and Kazakhstan are deepening the integration process. In May, we signed the Agreement on Establishing the Eurasian Economic Union, which will come into force on January 1, 2015," he said.

...

He reaffirmed that Russia is open to substantive interaction with all integration formations in the Latin American region. That includes the Union of South American Nations (UNASUR), the Common Market of the South (MERCOSUR), the Bolivarian Alliance for the Peoples of Our America (ALBA), the Pacific Alliance, the Central American Integration System (SICA) and the Caribbean Community (CARICOM).

So there seems to be some substantial talk about bridging between Russia's burgeoning Eurasian economic union, and Latin and Carribean states (though it isn't clear that the latter is terribly "integrated" ... yet).

BONUS ANALYSIS: Jim Willie (www.goldenjackass.com), who follows these things even closer than we do, has kindly allowed his advance-circulated comments on these developments to be published for 'Implode readers:

◄$$$ A MAJOR CHESS MOVE IS IN PROGRESS IN THE UNITED STATES BACK YARD... RUSSIA TO SPONSOR THE CREATION OF A MAJOR TRANSPORT HUB IN CUBA, IN AN INFRASTRUCTURE UPGRADE, COMBINED WITH A MASSIVE DEBT FORGIVENESS... THE HINT OF A BRICS ASSOCIATE NATION BEING ADOPTED IS CLEAR... A LATIN AMERICAN STRATEGY IS UNFOLDING, WHICH INCLUDES LIFTING ARGENTINA, A PERENNIAL NEW YORK EXPLOITED GROUND, AND GIVING ADDED THRUST TO BRAZIL WHICH LANGUISHES... PUTIN IS UNFOLDING AND PRESENTING HIS AMERICAN HEMISPHERE TRADE ZONE, WITH A DEVELOPMENT TABLE, WHICH WILL IN TIME EXTEND TO THE EURASIAN TRADE ZONE IN A MAJOR CHESS MOVE IN THE BACK YARD OF THE FASCIST AXIS. $$$

Russia, Cuba and possibly other countries will pool resources for creating a major transport hub in Cuba by upgrading the port of Mariel and building a modern international airport in San Antonio de los Banos, along with a major cargo facility. Russian President Vladimir Putin gave an exclusive interview to the Latin American news agency Prensa Latina ahead of his South American tour. The itinerary is for visits to Cuba, Argentina, and Brazil. The lead item is $31.5 billion in debt forgiveness. Cuba pledged to spend $3.5bn on a raft of significant investment projects, which Russia will select and negotiate together with the Cuban side. The debt extends from the old Soviet era. The step is unprecedented, and testifies to the strategic nature of their bilateral relations, in his words. Imagine a foreign nation setting foot on United States soil to forgive 90% of its $17 trillion debt. An Intergovernmental Agreement was signed in October 2013, in its final stage of ratification. A multi-national commission was created, which must go beyond the intensely corrupt Fidel cabal clan in order to be effective. The commission has met 12 times already, around business councils as well and the Havana Trade Fair.

As for details, the projects are aimed at social and economic development of the bereft poverty stricken nation, a failure of crony communism. The average wage in Cuba several years ago was $25 to $30 per month (not per day). Offshore energy projects are in store, progress already made. Zarubezhneft started drilling the first development well in the Boca de Jaruco oilfield in August 2013. Putin is actively promoting the projects, stating "Our short-term prospects include the development of new oilfields in the Cuban offshore area. To these ends, Zarubezhneft and Rosneft engage in active cooperation with Cupet, Cuba's state oil company." The construction of power units for the Maximo Gomez site and in East Havana is underway, with supply of Russian electric power equipment... As for verification on the ground, a Hat Trick Letter subscriber reported, "I was at a cocktail party last night with a guy who just returned from the area. Major construction was already underway, in a big way." ... It seems like Cuba will become a BRICS Associate nation, an adopted basket case to become a showcase.

...

The Putin Global Order centers on trade, development, and cooperation. He cited the goal of a strong, economically stable, politically independent, united Latin America to fit into the emerging polycentric world order... Notice the theme to counter the spread of fascism by the USGovt, the divide & control used by US teams, the constant destabilization of economies used to impose banker controls, the regular interference by WashingtonDC. King Vladimir has taken aim at the US hegemony in Latin America directly, working to organize the continent. Possibly it will join as extension to the Eurasian Trade Zone... Talk of contact with the Russian Customs Union was made. He reaffirmed that Russia is open to substantive interaction with all trade groups in the Latin American region... Argentina, the once thriving nation, now a socialist ruin. Look for Argentina to receive even more important extended hand in aid, development, and revitalization... The Jackass believes the Eurasian Trade Zone refers to its inception, but the zone will become a global trade zone which excludes the United States.

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iehi-feed-54338 Fri, 11 Jul 2014 15:24:52 GMT Italian EU presidency backs South Stream http://implode-explode.com/viewnews/2014-07-11_ItalianEUpresidencybacksSouthStream.html