Tag: Treasury Department

Eni and Repsol to Receive Oil-for-Debt Licenses, Venezuela Welcomes ‘Small Steps’

Tina Marie (Ms. Cat)

Caracas, June 6, 2022 (venezuelanalysis.com) – The US government has reportedly greenlighted two companies to ship Venezuelan oil to Europe as soon as next month.

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Washington is likewise looking to redirect Venezuelan oil shipments from China to Europe in order to cut off Caracas’ income from its Asian ally, which currently buys some 70 percent of Venezuela’s oil production, the unnamed US officials claimed.

Eni and Repsol to Receive Oil-for-Debt Licenses, Venezuela Welcomes ‘Small Steps’

Congress and Pentagon seek to shore up strategic mineral stockpile dominated by China

Tina Marie (Ms. Cat)

Congress has repeatedly authorized multimillion-dollar sell-offs of the U.S. strategic minerals stockpile over the past several decades, but Washington’s increased anxiety over Chinese domination of resources critical to the defense industrial base has prompted lawmakers to reverse course and shore up the reserve.

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The stockpile was valued at nearly $42 billion in today’s dollars at its peak during the beginning of the Cold War in 1952. That value has plummeted to $888 million as of last year following decades of congressionally authorized sell-offs to private sector customers. Lawmakers anticipate the stockpile will become insolvent by FY25.

“A lot of what happened is Congress just getting greedy and finding politically convenient ways to fund programs that they weren’t willing to raise revenue for,” said Moulton.

Congress and Pentagon seek to shore up strategic mineral stockpile dominated by China

Blame China for their greed?! 🙄

No, Biden Can’t Just Sell Off Seized Russian Yachts and Central Bank Assets to Help Aid Ukraine – International Law and the US Constitution Forbid It

Tina Marie (Ms. Cat)

Posted by Yves Smith

Yves here. It is instructive to see that a law professor who served as an expert witness for Naftogaz, the Ukrainian national oil and gas company, after Russia seixed its operations in Crimea, is concerned enough about the prospect of the Biden Administration selling confiscated Russian assets to speak up and advise against it.

However, I have my doubts that the US has been as scrupulous about not selling assets of sanctioned and belligerent nations as Professor Stephan suggests. Iraq owned a magnificent, very wide townhouse on East 80th Street between Park and Lexington as its embassy. It was promptly seized after the war started and sold within a couple of years. I sincerely doubt the proceeds were remitted to the new government.

No, Biden Can’t Just Sell Off Seized Russian Yachts and Central Bank Assets to Help Aid Ukraine – International Law and the US Constitution Forbid It