US

Further Penalties Against Russia From The US

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The US Department of State and the US Department of Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on numerous additional people, entities, and vessels that the US has determined are engaged in sanctions evasion on February 24, 2023, the one-year anniversary of Russia’s invasion of Ukraine. 

Financial Services Sanctions

OFAC has designated over a dozen Russian banks and financial institutions which include:

  • Credit Bank of Moscow Public...

https://mfame.guru/further-penalties-against-russia-from-the-us/

Military Sealift Command Completes Cargo Operations

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Military Sealift Command has completed its resupply mission in Antarctica with the departure of the MSC chartered ship MV Ocean Gladiator. The mission was in support of Operation Deep Freeze, the Joint Task Force Support for Antarctica mission to the NSF-managed U.S. Antarctic Program, says a press release published on their website.

Cargo offloads

Ocean Gladiator delivered 358 pieces of cargo, which included containers filled with mechanical parts, vehicles,...

https://mfame.guru/military-sealift-command-completes-cargo-operations/

Why the US Can Avoid a Recession in 2023?

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In 2023, the possibility of a U.S. recession still exists. According to Goldman Sachs Research, the probability of a significant decline in the American economy over the next 12 months is estimated by the market to be 65%. But according to our own economic study, the likelihood is substantially smaller, at 35%, as reported by Goldman Sachs.

Big questions

David Mericle, our chief U.S. economist, and Alec Phillips, our chief U.S. political economist, elaborate on that lower...

https://mfame.guru/why-the-us-can-avoid-a-recession-in-2023/

Risk Will Define Supply Chains for Years To Come

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  • Supply chain disruptions are easing, but the perception of risk remains.
  • Performance at North American container ports fell by almost 50% from Q2 2020 to Q3 2022.
  • Geopolitical risk must be factored in following Russia’s invasion of Ukraine and rising tensions over Taiwan.
  • Great risk and unpredictability will drive decisions on inventory and manufacturing.

Supply chain risk, low before the pandemic, emerged highly elevated and likely to remain that way for...

https://mfame.guru/risk-will-define-supply-chains-for-years-to-come/

All Flights From The US Grounded By FAA

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Every flight leaving the US was halted due to an IT disaster, which affected thousands of passengers, as reported by The Telegraph.

Aeroplanes can’t take off

Due to a problem with the Federal Aviation Administration’s computer system, aeroplanes cannot take off in America.

The FAA declared in a statement that it is “continuing to work to fully restore the Notice to Air Missions system after an outage.”

It added: “The FAA has ordered airlines to pause all domestic departures...

https://mfame.guru/all-flights-from-the-us-grounded-by-faa/

Germany Imports 1st LNG at New Floating Terminal

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Germany received its first shipment of liquefied natural gas — from the US — at a new floating terminal in the North Sea port of Wilhelmshaven, a milestone in the nation’s quest to diversify its energy supplies, reports DW.

A tanker arrived Tuesday with enough gas to supply 50,000 German households with energy for a year, according to a joint statement from terminal operator Uniper SE and Venture Global LNG Inc. The vessel loaded at the latter company’s Calcasieu Pass...

https://mfame.guru/germany-imports-1st-lng-at-new-floating-terminal/

Global Economy 2023

Credits: Eric Prouzet/Unsplash
Countries by Share of the Global Economy

As 2022 draws to a close, we may look back on numerous significant historical events that occurred during the year, such as the Earth reaching 8 billion people and the global economy surpassing $100 trillion.

Using statistics from the IMF, we depict the world’s GDP in this graph, highlighting the largest economies and the percentage of global economic activity they account for.

The GDP Heavyweights

If the world economy were a...

https://mfame.guru/global-economy-2023/

Restart Of Freeport LNG’s Texas Facility on Hold Until Late January 2023

Credits: Diogo Hungria/Unsplash

US liquefied natural gas (LNG) export company Freeport LNG has updated the timing of the initial restart of its liquefaction facility in Texas which has been shut since June, reports Offshore Energy.

The explosion

To remind, the facility has been shut down following the explosion incident that occurred on 8 June. At first, the restart of initial operations was targeted for early October, which was then pushed back to mid-November.

On 14 November, the operator...

https://mfame.guru/restart-of-freeport-lngs-texas-facility-on-hold-until-late-january-2023/

Sanctions on Russian Commodities Tracker

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Russia’s invasion of Ukrainetriggered an unprecedented wave of sanctions against Moscow which are still rippling through global commodity markets. In addition to official sanctions which continue to evolve, major self-sanctioning by industries looking to cut ties with Russia have deepened the market impact.

credits: SP Global

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Source: SP Global

The post Sanctions on Russian Commodities Tracker

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Global Economy Heads for One of Its Worst Years Since 1993

Credits: Jason Leung/Unsplash
  • Bloomberg analysis anticipates recessions in Europe and the US
  • China seen rebounding, monetary policies on divergent paths

The world economy is facing one of its worst years in three decades as the energy shocks unleashed by the war in Ukraine continue to reverberate, according to Bloomberg Economics.

World economy is facing one of its worst years

In a new analysis, economist Scott Johnson forecasts growth of just 2.4% in 2023. That’s down from an estimated 3.2% this...

https://mfame.guru/global-economy-heads-for-one-of-its-worst-years-since-1993/

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