Money Talks

The European Union is set to announce a deal to import more natural gas from the US. That new supply will replace Russian shipments that the bloc wants to eliminate, over Moscow's military operation in Ukraine. According to reports, the US would sell an additional 15B cubic metres of liquefied natural gas or LNG to Europe this year. That would add to the 22B cubic metres a year that American firms already sell to customers in the bloc.

We were joined by Osama Rizvi, energy and economic analyst at Primary Vision in Lahore, Pakistan.

#LiquefiedNaturalGas #EuropeanUnion #LNGDeal

Russia and Ukraine usually supply about a third of the world's wheat. Since the conflict began, aid agencies have warned of potential food shortages and price increases. They say North Africa and the Middle East are particularly at risk, as the regions rely heavily on Ukrainian wheat. And in Lebanon, a grain shortage could be devastating. Imogen Kimber reports from Beirut.

We were joined by Imogen Kimber in Beirut, to hear more about the situation there.

#GrainShortage #LebanonPoverty #FoodPrices

Turkish firm, Smart Solar Technologies has raised $36M from its listing on the Borsa Istanbul this week. The company aims to use the funds to boost manufacturing of photovoltaic cells. Demand for the equipment is booming as both the government and private sector look to harness renewable energy sources.

#Türkiye #RenewableEnergy #SmartEnerji

Turkish football club, Galatasaray are known as powerhouses on the pitch, but now they're turning their entire stadium into a solar power plant. The project is expected to significantly curb energy costs and make the Istanbul team a leader in the field of renewable energy. Tayyibe Aydin reports.

#SolarPower #Galatasaray #Enerjisa

Data from the United Nations show Russian bombs and bullets have destroyed $100B-worth of Ukrainian infrastructure since the conflict began. That number is obviously still climbing, and even before the current crisis, Ukraine had already lost $280B in income due to Russian incursions into Crimea and the nation's eastern regions.

The longer the conflict drags on, the higher the cost will be for the Ukrainian and global economy. That's according to Gabriella Legrenzi, an associate professor of economics at Keele University in the UK.

#RussiaAttacksUkraine #WarCost #UkraineDestruction

As the US, EU and their allies step up sanctions on Moscow, Russian President Vladimir Putin says the reliability of dollars, pounds and euros have become questionable. He's instructed state-owned energy companies to demand payments for gas shipments in rubles. Moscow had published a list of these ‘unfriendly countries’ earlier in May. It includes, the US, UK, EU member states and more than 20 other countries. Ukrainian officials are calling on the international community to maintain pressure on the Kremlin and not give in to Putin's demand.

We were joined by Cornelia Meyer, who is the chairperson and CEO of Meyer Resources.

#RussiaAttacksUkraine #RussianRuble #NaturalGasTrade

The US has announced another round of sanctions on Russia, this time targeting hundreds of lawmakers. Meanwhile, President Joe Biden has also met with leaders from the EU and other allied countries, to prepare a joint strategy to blunt the impact of the conflict on global energy markets.

#RussiaAttacksUkraine #RussiaEnergyExport #Sanctions

The European Union is set to announce a deal to import more natural gas from the US. That new supply will replace Russian shipments that the bloc wants to eliminate, over Moscow's military operation in Ukraine. According to reports, the US would sell an additional 15B cubic metres of liquefied natural gas or LNG to Europe this year. That would add to the 22B cubic metres a year that American firms already sell to customers in the bloc.

OANDA senior market analyst, Craig Erlam joined us from London.

#LiquefiedNaturalGas #EuropeanUnion #LNGDeal

The ruble is trading at its strongest level in about a month. That's after President Vladimir Putin's shock announcement to require what he calls unfriendly countries to pay for natural gas using the Russian currency. Moscow had released a list of those unfriendly states this month, and it includes the US, European nations, and their Asian allies. Natural gas is used to heat homes and power factories, and Europe gets 40% of its needs from Russia. The Kremlin's move is meant to counter painful economic sanctions imposed on Moscow by the EU and US.

For more, Equiti Capital market analyst, David Madden joined us from London.

#RussianRuble #NaturalGasTrade #UnfriendlyCountries

In Türkiye, where the government is stepping up support for the technology sector, with a $300M cash injection. The money's being raised by the country's sovereign wealth fund in partnership with Abu Dhabi's government. The deal is part of a broader agreement under which the UAE plans to invest $10B in the Turkish economy. Ludovica Brignola has the details from Istanbul.

#TürkiyeWealthFund #TurkishStartups #AbuDhabiDevelopmental