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An 8 year old has been orphaned as her civilian parents were killed.

Terrorism is terrorism no matter how de-based the West has become.

This is neither welcome nor justified, and in all probability for investors, the longer this goes on the less FXPO shares will be worth.

Terrorist attacks on civilian infrastructure are ‘welcome’?

The last terrorist attack in the bridge led to the destruction of Ukrainian power infrastructure. This attack is not going to lead to Russian capitulation but rather a response which will cost Ukraine and it’s western backers even more money.

Hard to fathom your reasoning as to this being ‘welcome’.

there’s a strange dichotomy here that whilst fxpo continues to test new 52 week lows, the bravado of some investors (buoyed by the obvious propaganda nonsense spewed out by uk media) seems to reach new heights.

and yes i know, anyone not singing from the hymn sheet is denounced as a ‘russian troll’ or ‘bot’ or sympathiser. stalin would be proud.

but as a realist i’m fascinated by this strange mindset. because it’s really quite extraordinary to believe that ukraine can defeat russia in a war. it makes literally no sense to think this as russia’s military potential and population are magnitudes greater than ukraine’s. but it’s almost a religious belief in the uk, a belief founded not on any objective reality at all, but on a heady ****tail of lies, false accusations, and repetition.

ukraine is slowly being destroyed, and with it so is fxpo. we all hate russia and putin of course, but that doesn’t mean that we can wish him away through our moral outrage.

the west made this war existential for russia. but in a proxy fight to the last ukrainian there’s only one outcome and it’s not the one media tells you.

there’s a strange dichotomy here that whilst fxpo continues to test new 52 week lows, the bravado of some investors (buoyed by the obvious propaganda nonsense spewed out by uk media) seems to reach new heights.

and yes i know, anyone not singing from the hymn sheet is denounced as a ‘russian troll’ or ‘bot’ or sympathiser. stalin would be proud.

but as a realist i’m fascinated by this strange mindset. because it’s really quite extraordinary to believe that ukraine can defeat russia in a war. it makes literally no sense to think this as russia’s military potential and population are magnitudes greater than ukraine’s. but it’s almost a religious belief in the uk, a belief founded not on any objective reality at all, but on a heady ****tail of lies, false accusations, and repetition.

ukraine is slowly being destroyed, and with it so is fxpo. we all hate russia and putin of course, but that doesn’t mean that we can wish him away through our moral outrage.

the west made this war existential for russia. but in a proxy fight to the last ukrainian there’s only one outcome and it’s not the one media tells you.

On any objective basis the counter offensive seems to be going very slowly and quite badly for Ukraine. I doubt Washington and Kiev planned ‘shaping operations’ to last for a week and cost (by confirmed sources) a significant % of the German Leopard 2A6 tanks (the most advanced variant they have).

This is a really ugly looking situation for NATO’s Ukrainian army, and whilst UK media in particular are dedicated to un-ashamed propaganda, at some stage the ugly reality is going to get out.

I don’t believe much if any of eastern Ukraine won’t be Russian territory in the not so distant future.

Yes, of course NATO could intervene and precipitate a nuclear exchange, but with London having made itself target number 1, the FXPO share price will be the least of our worries.

Regarding Xi in Moscow, any interpretation of this as China putting pressure on Russia to negotiate is wrong.

In fact Ukrainian law makes it illegal to negotiate with Putin whilst it is widely accepted that Johnson prevailed on Zekensky to cease negotiations back in April last year.

Meanwhile China is not going to pressure its ally to humiliation since, as has long been clear in official Chinese statements, they regard the US as primarily responsible for this conflict, and note that the US has pumped over $100bn of arms into theatre.

A quick end to this conflict may come, IMO, but only when Ukraine capitulates or its western backers pull the plug on life support. Because the West’s full out rhetoric and actions have made this existential for Russia, and that was a massive mistake if you want peace.

It’s ironic to be described as ‘scum’ and a ‘bot’ simply for having the temerity to have a different point of view to the official propaganda and ‘truth’ so dominant in the UK media and establishment.

Because I thought the UK was a freedom loving democracy, where people can express their opinions without being ‘cancelled’ or denounced and insulted.

It seems I am wrong. There is a single undeniable ‘truth’ which broadly equates to Ukraine = good, Russia = evil. To question this is to be a virtual traitor.

This is apparently a matter of right and wrong, black and white - there is no room for nuance, for discussion, even for compromise.

Russia must be defeated. The world’s foremost nuclear armed power must be defeated if not humiliated by a state with less than a third of Russia’s population.

There’s no room for peace or negotiations in the official ‘truth’. What could possibly go wrong?

I agree Mr Tibbles, and anything dreamt up this hastily involving UKG is likely to be of dubious sense.

However, in perspective, the liabilities are not open ended, and they are nominally asset backed. This isn’t exactly RBC, and I don’t expect UKG would be keen for this all to go horribly wrong for HSBC given that London is getting to prove what a great environment the UK is for tech firms.

Having said that, they managed to kill energy investment by the windfall tax, so I suppose none of us can say anything with any confidence about this matter.

Yesterday’s missile strikes were a timely reminder of the fact that:

1. Despite western media propaganda, Russia is not running out of missiles.

2. Western supplied air defence systems are increasingly attrited and ineffective.

3. Ukraine had no hope of ‘winning’.

4. Until there is a negotiated settlement based on realistic facts in the ground, FXPO will become increasingly worthless as it loses long term supply contracts.

FWIW I bought back in at 226p. I’m not trying to guess the low, but now seems a decent entry point.

Fundamentally SQZ needs to diversify out of the UK which is basically not a safe jurisdiction for oil and gas companies. Indeed, it could get even worse under a Labour government whose ‘green’ credentials may lead it to increase WFT further.

I’d like, over time, to see SQZ cease all NS exploration and development and seek a listing on TSX. It should be clear to SQZ, as it seemingly is to Shell, that the UK is too far gone up its own green rhetoric to ever make NS an attractive investment environment.

So I’ve reluctantly bought for a trade more than anything. At some point the market will re-evaluate SQZ and its ability to utilise tax losses. But I don’t feel it has a long term future, not unless current management can see the UK investment environment for what it is.

Fwiw I increased my holding earlier today because the valuation and risk / reward are good.

Like many on here, I found the placing to be irritating as a retail investor. But having bought more below the placing price I’m less irritated now.

Someone mentioned that prices often drop below the placing price before re-bounding, and I’ve seen that with HZM.

In any case, IMO DEC remains a sound business case, and that’s without considering the yield which looks reasonably sustainable. I’ll continue to hold.

Prospects for Ukraine look very bleak as its western backers are privately realising that Russia will prevail in this war. This leaves FXPO is a parlous position given the geographic location of its assets.

IMO this is not an investable company, but the market has not yet woken up to the forthcoming Russian victory. For me FXPO is worthless.

I know many are still drunk on western propaganda, but the reality is that Ukraine is already a zombie propped up by vast western aid transfers. Think about it - a population of ca. 40 million early last year, less 12 million refugees/displaced, less 5 million now living in so called ‘occupied’ territories, less say 0.5 million dead or wounded.

Ukraine is therefore now about 23 million, facing a state with a population and military potential about 10 times that of Ukraine.

The truth is inescapable no matter how much nonsense is spoken by western politicos who desperate to prolong Ukraine’s destruction.

Doubling down on UK assets does not seem smart and the market is responding accordingly. London is a hostile regime as regards oil and gas. SQZ had the opportunity to diversify their asset base to somewhere more stable but blew it. I’m out.

It was alarming to see that the entire UK political class and media yesterday blamed Russia for a strike in Poland. Nobody apparently thought that they ought to wait for facts, or wondered why Russia might consider an obscure field in Eastern Poland a target worthy of potentially starting WW3.

Such is the degree of groupthink and Russia hatred in the UK that it was almost with glee that the media contemplated NATO’s response, seemingly oblivious to the risks of escalating a possible war with a state capable of destroying the densely populated and tiny UK.

So it was left to the US to be the adult in the room. A worrying state of affairs, and a reminder that FXPO remains an incredibly high risk investment whilst the west props up the Ukrainian military.

Ukraine would have negotiated peace long ago were it not for the West keeping it going economically and militarily.

So the crucial determinant is the attitude of Kiev’s patrons in Washington and London. Do they want Ukraine to continue fighting or not? Can they square their rhetoric of ‘Russian defeat’ with the reality of Ukrainian territorial concessions? Can they sell negotiations to their public who have been conditioned to equate diplomacy with the dreaded ‘appeasement’?

It is a mess. The reckless absolutism of western rhetoric militates strongly in favour of continued war in Europe.

The problem with that is that this is a war Moscow can’t afford to ‘lose’. And, lest anyone has forgotten in the propaganda fest, Moscow can destroy Ukraine if it needs to.

So yes, I prefer negotiations over perpetual war. Call me an appeaser if you like, but I don’t think fighting Russia to the last Ukrainian is morally or intellectually superior. It’s callous.

Look, a serious point here about G20. The West has talked itself into a corner - Russia must be defeated, Putin must be shunned, Russia must withdraw completely, no territorial concessions.

That’s a position which leaves no room for negotiations. It’s an all or nothing strategy predicated on an assumption that Ukraine can drive Russia out.

Russia and Ukraine were talking about exactly that in Istanbul in March and April before allegedly the Uk convinced Ukraine to break off talks.

The negotiation ball is not in Russia’s court. If the West wants perpetual war (and previous history says it probably does) then it’s gone the right way about it. But if they want peace then there will have to be territorial concessions. That’s the reality.

For FXPO, perpetual war is probably the end of the road.

@Christo4 The truth is that this will only happen once there is a ceasefire and negotiations. FXPO is otherwise slowly being destroyed as an investment.

Well it says something when those calling for negotiations are derided as foreign trolls and propagandists.

If you think that constant war fought largely in Ukraine against a nuclear super-power is the right prescription for Ukraine and FXPO then knock yourself out.

I’m afraid that it still hasn’t dawned on many people that Ukraine will not prevail in this conflict. Western media sound you an awful lot of nonsense about Kiev’s so called victories, but that’s entirely to justify the continued transfers of your own money in the form of military and economic aid.

The brutal truth is that the longer the west continues to prop up Ukraine, the more it will be destroyed and the more lives will be lost.

Russia’s military potential is magnitudes greater than Ukraine’s. That’s just a fact. As Russia mobilises and deploys over the next few months we’ll start to see Ukraine retreating once more.

People can continue consuming the hopium and lies served up by media if they wish. But it defies facts, logic and even common sense.

Those who think that continuing a war to ‘victory’ against Russia are dangerously mad. The West should prevail upon Kiev to negotiate now. The UK sadly is encouraging them to continue dying in a hopeless cause. Fight Russia to the last Ukrainian.

@CleverThoughts - not often I agree with you but I think you’re mostly right. Who benefits? The US.

But it’s not such a jolly deal for Europe. Doubling their energy costs by substituting cheap with expensive will make them poorer, their businesses less competitive. Increasing defence spending and purchasing expensive US arms again makes them more poor. It’s a bad deal for Europe. Subservience to Uncle Sam is rarely a route to peace and prosperity let alone independence.

As for China, I’m not sure what you’re getting at. It’s largely removed from this conflict.

For FXPO of course they’d better hope that negotiations happen real soon. Maybe they should lobby Washington.