Russia not closed to business for “unfriendly counties”17 Aug 2022 09:55
FWIW, bit of a surprise to read this, would be interested to know if this is true for all sectors including mineral resources but potentially good news for EUA anyway:
IN RUSSIA 11:33, august 17, 2022 The Ministry of Foreign Affairs of the Russian Federation announced its readiness to help investors from unfriendly countries Moscow. August 17. INTERFAX.RU - Russia does not close from contacts with business representatives from unfriendly countries and is ready to help them work in the Russian market, Director of the Department of Economic Cooperation of the Ministry of Foreign Affairs of the Russian Federation Dmitry Birichevsky said on Wednesday. "If we talk about business, we don't close ourselves from anyone. We keep all doors open, and we are part of international economic relations, the world economic system. And if they are businessmen from countries that we now call unfriendly, it does not mean that we will not help them work in the Russian market if they themselves want it, often against the will or signals given by their governments. If he is an honest bona fide entrepreneur who has become a foothold for a long time and seriously and is ready to continue working in the Russian market, then we will not have a biased attitude towards him just because he is from a so-called unfriendly country. We will help all investors who want to work here, pay taxes and develop their business," he said on Russia-24 TV channel. At the same time, Birichevsky stressed: "But, of course, those countries that did not impose any restrictions that would like to invest in the Russian economy - here we can talk about certain preferences, some benefits that can be provided within the framework of special economic zones, territories of advanced development, special investment contracts." https://www.interfax.ru/russia/856996
Full scale production by 2030 so assuming the world hasn’t gone mad max by then and peace has returned, could potentially be a good customer for EUA by the time the assets are producing. Would imagine that long term supply contracts will be needed.
I’m not sure if the final details of the Russian conditions are known yet but Japan has underlined to the US their intention to stay invested in the Sakhalin LNG project.
Might not mean anything for EUA2 but we must have set up in Japan for a reason and KK did used to work for Mitsubishi who are one of the parties who are looking to stay invested on Sakhalin. It will be interesting to see how this ends up.
Also good to see that some of the comments that Russians have posted seem to be welcoming this news.
TMS - appreciate your posts as always but given your views on EUA, how come you didn’t buy a negligible amount of shares before the AGM, attend in person and ask some questions that would back up your musings once and for all?
Thanks for posting Arsenalles. India and Russia are also looking to develop the International North-South Transport Corridor (INSTC) which is a trade route between the two that will reduce the travel time from 40-60 days to 25-30 days. They’ll need to increase the volume of existing trade to justify the project according to the below.
Not sure if this is relevant but Japan Gov announced earlier their support to Japanese companies looking to remain within the Sakhalin 2 projects. Also mentions construction of an ammonia plant which is linked to the transportation of hydrogen hence I thought may be worth sharing. Mitsui and Mitsubishi had a month from June 30 to apply to keep their shares in S2 so there may be some more news on that front (shortly!), unless I’ve missed it.