RT News - November 21st 2022 Late

Russia warns of a potential nuclear catastrophe in Europe, as the Zaporozhye power plant once again comes under Ukrainian shelling over the weekend. That's as Moscow holds nightlong talks with the UN's atomic watchdog over the precarious situation. "The West is permitting a nuclear catastrophe to further it's own interests" : Rosatom

France could be contemplating a full withdrawal of it's troops in Burkina Faso as tensions heat up over the French presence in the country. As France questions its military presence in Burkina Faso amid rising tensions in the country, President Macron accuses Russia of spreading disinformation in Africa.

The Grayzone appears to have confirmed the strange (illicit) dealing between collapsed Ponzi-scheme crypto company FTX and Ukraine. This as Instagram removes fact based postings by the Grayzone. In depth report.

The UK is reportedly circumventing its own ban on Russian oil imports. As shipments of Russian crude arrive, London's official records make no mention of it.

The US hedge fund backed "Mozart" private military company is handing out patches to Ukraine military in Donetsk. Watch the RT Documentary about the Wagner Group here https://rumble.com/v1w87zw-wagner-pmc.-contract-with-the-motherland-rt-documentary.html?mref=6zof&mrefc=10
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via RT website 21 Nov, 2022 14:00

---- UK faces steepest production slump since pandemic – data ----

The downturn has affected a record number of sectors across British industry, a Lloyds Bank report shows

Economic output in the UK has fallen to its lowest level since nationwide lockdowns shut down parts of the economy during the Covid-19 pandemic, Lloyds Bank data reveals.

In October, key areas of the British economy monitored by the UK Sector Tracker saw plummeting output on shrinking demand for goods and services. Twelve of the 14 sectors across manufacturing, services and construction experienced a drop in output last month, up from nine sectors in September.

The number of industries which recorded a decrease in new orders was the highest since the first lockdown in May 2020, the data shows.

The chemicals sector saw the weakest performance, with an index of 29.5, where a tracker reading above 50.0 indicates expansion. It was followed by metals and mining with 31.1, while household products stood at 38.4.

Since July, more than half of the UK sectors monitored by Lloyds Bank have consistently reported falling output and demand, indicating that economic conditions have worsened in recent months.

“The indications from our report suggest that the UK economy may already be in recession. With both our domestic challenges and global headwinds unlikely to materially recede in the short term, the key question revolves around how long this downturn may last”, Head of Economics and Market Insight at Lloyds Bank, Jeavon Lolay, said.

Chemicals, metals and mining, household products and banks also saw a slump in staffing levels in October, the highest number since February 2021.

Analysts say that soaring inflation was behind the decline, forcing businesses and consumers to cut back on spending and investment to cope with rising costs.
https://www.rt.com/business/566916-uk-economic-output-fall/
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via RT website 21 Nov, 2022 14:53

---- Russia targets extra profits of energy firms ----

LNG exporters will face a 34% tax, while Gazprom will have to pay nearly $30 billion to the state budget

Russian President Vladimir Putin signed a law on Monday which will raise taxes on the country’s energy industry in 2023-2025. Russian oil and gas firms reported record profits this year, despite sanctions.

The profit tax for liquefied natural gas (LNG) exporters has been raised to 34%. The higher levy concerns LNG producers that exported at least one shipment by the end of 2022.

According to the document, energy giant Gazprom will owe an additional 1.8 trillion rubles ($29.6 billion) to the state budget in 2023-2025.

In addition to that, the law provides for an adjustment in calculating the severance tax on natural gas from January 1, 2023, and a temporary increase of mineral extraction tax rates by 380 rubles per ton of coal.

The tax changes are expected to add an additional 3 trillion rubles ($50 billion) to the state coffers over the next two years.

Putin also approved a new rule that will set a limit on oil and gas revenues that can be allocated to finance budget expenditures at 8 trillion rubles ($131 billion) a year in 2023-2025. Starting from 2026, the figure is to be indexed by 4% yearly. This is expected to ensure the stability of budget spending and minimize the impact of the volatility of oil and gas revenues on the economy.

Earlier this month, it was reported that the Russian budget received 41.4% fewer taxes in September than in March. Analysts believe the drop is due to a decrease in Russia’s energy exports because of Western sanctions. At the same time, energy giants like Gazprom have reported record profits this year.
https://www.rt.com/business/566930-russia-targets-profits-energy-firms/
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via RT website 24 Oct, 2022 10:37

---- Russia’s Gazprom to pay record dividend ----

The decision follows the energy major’s bumper profits in the first half of 2022

Russian energy major Gazprom announced on Monday that it will pay record dividends to shareholders this week.

According to the report, the issuer will pay 51.03 Russian rubles ($0.83) per ordinary share for the first half of 2022. The total volume of dividend paid out will exceed 1 trillion rubles (around $20 billion).

The Bank of Russia stated that part of the funds disbursed to Gazprom shareholders could end up in the stock market.

In late August, the gas giant said that its board had recommended a dividend payout to shareholders as the company received bumper profits “despite sanctions pressure and an unfavorable external environment.” Gazprom also indicated that it plans to stick to its dividend policy of distributing at least 50% of adjusted net profit as dividends.

In June, the state-owned company’s board of directors decided not to pay dividends based on last year's earnings, making it the first time that an annual payout had been skipped since 1998.
https://www.rt.com/business/565221-gazprom-pay-record-dividend/
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