Tag Archives: European Union

Mar 9 2026

Sunday Talks – Energy Secretary Chris Wright Discusses Anticipated Timeline for Price Stability


Posted originally on CTH on March 8, 2026 | Sundance 

Energy Secretary Chris Wright appears on Face the Nation to push back against the narrative engineering of CBS’s Margaret Brennan.  The video and transcript are below.

[Transcript] – MARGARET BRENNAN: We turn now to Energy Secretary Chris Wright, who joins us this morning from Denver. Good morning to you.

SECRETARY OF ENERGY CHRIS WRIGHT: Thanks for having me Margaret.

MARGARET BRENNAN: So 50,000 U.S. troops deployed, six Americans that we know of so far killed in action, civilians stranded. We look at our polling, Mr. Secretary, and we see that this is an unpopular war among the majority of Americans. More than half of them, 56% disapprove. When you speak to energy executives about the scope and duration of American involvement, what do you tell them? How long?

SEC. WRIGHT: I tell them that for 47 years, Iran is warg- waged war against the United States, and they’ve- throughout that 47 years, they’ve tried to undermine the energy development and energy infrastructure of all their neighbors, as they’re doing right now, and it’s time to put it to an end. So yes, we have a, we have a temporary period of elevated energy prices, but it will not be long. In the worst case, this is weeks, this is not months, and it leads to a much better place. It leads to an Iran that’s defanged, that can’t threaten its neighbors, can’t threaten American soldiers and can’t continue to drive up energy prices by making a mess of the Middle East. They can move to commerce, not conflict.

MARGARET BRENNAN: Well, but you have the moment we are in right now, and as you know, gasoline prices up 14% in the past week. According to AAA, reports the national average is $3.45. We’ve seen oil prices spike. How high do you think oil and gas are going to go?

SEC. WRIGHT: They shouldn’t go much higher than they are here because the world is very well supplied with oil. There’s no energy shortage at all in the Western Hemisphere.

MARGARET BRENNAN: Right.

SEC. WRIGHT: The United States is a net exporter of oil, a large net exporter of natural gas. But refineries in Asia and Europe are seeing an interruption from the normal crude flows. But there is massive energy stores around the world. What you’re seeing is emotional reactions and fear that this is a long term war. This is not a long term war–

MARGARET BRENNAN: –But–

SEC. WRIGHT: –It’s a temporary movement.

MARGARET BRENNAN: Sorry, go ahead, temporary movement.

SEC. WRIGHT: No, I’m saying look, we’ve seen previous administration have done everything they could. They begged, bartered and bribed the Iranian government to stop its nefarious activity, stop its murderous behavior, and it simply hasn’t worked, and now, they’re, they’re expanding missile and drone program that are rapidly growing to protect their desire to build a nuclear weapon. We’re going to cross the threshold where we can’t put them back in the box. Now is the time to end their risk to America and the world.

MARGARET BRENNAN: But as you know, when I ask you about energy prices, this is not a supply problem. You said there’s plenty of supply. The head of the International Energy Agency said, lot of oil, logistics are the problem. It’s dislocation. It’s a serious problem. So what he’s referring to there is being able to actually move it around. I know you said there’s, there’s one vessel that’s gone through the Strait of Hormuz. 20 million barrels per day typically go through it. When do you get back to that level?

SEC. WRIGHT: Oh, I think it will be relatively soon. Of course, I don’t know exactly. All of our military assets right now are focused on ending Iran’s ability to kill their neighbors, threaten American soldiers and threaten ship traffic in the Strait of Hormuz, but that’s going swimmingly well. Their missile launches are down 90%, the drone launches are down over 80% I think in the relatively near term, you’re going to see their capacity so low that we’ll see more normal ship traffic return to the Strait of Hormuz.

MARGARET BRENNAN: So you don’t think Navy escorts of vessels are necessary?

SEC WRIGHT: They might be. They might be. The U.S. is here to do everything we can to keep world oil markets supplied. Yes, if they have some residual–

MARGARET BRENNAN: –When will you make that decision?

SEC. WRIGHT: We’re, we’re in engagement right now with people that want to get tankers moving out of the Gulf. And so, yes, there could be there- early tankers probably will involve some direct protection by the U.S. military, but most important is to defang their ability to threaten these ships.

MARGARET BRENNAN: So the president had said he was open to tapping the American stockpile of oil, the Strategic Petroleum Reserve, but I saw you on other networks this morning, kind of throwing cold water on the idea. You referred to it as depleted. Are you saying America doesn’t have adequate stockpiles?

SEC. WRIGHT: No. America still has over 400 million barrels of oil in our strategic petroleum reserve, and, of course, robust production. We’re, we’re, more than happy to use that if it’s needed. But as you said earlier, it’s a logistics issue. Where do they need oil? They need oil at refineries in Europe and in Asia. And that’s why we took a very pragmatic step. There’s over 100 million barrels of floating Russian crude waiting in line to deliver to China. That’s going to be sold, it’s going to be refined, but that could be one or two months from now. So in a pragmatic way, with no change in U.S. policy towards Russia, we told the Indians, bring that into your refineries. You know, if you, if you’re feeling a shortage of crude, prices are being bid up, draw down that Russian crude stocks that are sitting right offshore.

MARGARET BRENNAN: Yeah. So on that point, the U.S. has temporarily suspended some sanctions to make that Russian oil, you say was already going to be sold anyway, make it available. But doesn’t Russia still financially benefit from that? Why isn’t the U.S. seizing those Russian tankers if they are our adversary?

SEC. WRIGHT: Because right now, because right now, we’re worried about Iran and fixing a 47-year problem there, and we’re worried about American consumers. We want to stop the rise in–

MARGARET BRENNAN: –Russia was helping Iran–

SEC. WRIGHT: –gasoline and diesel prices. Well, there’s been rumors of that. We don’t know if that’s true or not. Certainly, they’ve gotten a strong message from us. But this is oil already on the ocean–

MARGARET BRENNAN: –These Iranian drones have Russian parts in them. The Russians have been buying Iranian drones. That is very well documented, and CBS has confirmed and reported that there was sharing of intelligence. Russia providing intel to target Americans. So how is Russia not part of this?

SEC. WRIGHT: Look, Russia, Russia is expert at causing trouble around the world, so I’m not saying they’re not. I’m saying I don’t- if they’re helping Iran, it’s not working very well, but we’re not helping Russia by just accelerating the sale of their oil to stop the rise of energy prices and keep European and Asian refineries in oil. We’re just doing pragmatic things to get through a short period that will bring in an era of even lower energy prices because a major energy producing region of the world, the Middle East, will no longer have a strong, powerful Iran that can threaten their neighbors, that can threaten the United States of America and was not far away from a nuclear bomb. That’s an–

MARGARET BRENNAN: –How much–

SEC. WRIGHT: –unacceptable scenario. That’s the risk to energy prices was not doing anything.

MARGARET BRENNAN: So when the Qataris say you could see $150 barrel in oil, that’s something America could stomach? President Trump wouldn’t say, I’m done with this war because I can’t stand the political pressure and the American people saying I don’t like what I’m paying at the pump?

SEC. WRIGHT: No, the president’s going to continue to stay focused on ending a 47-year conflict, stay focused on growing the global energy supply. This is actually part of that effort. It does involve a temporary impediment to energy production, but on the other side, it will allow much more energy production and much lower energy prices. But this is not a long term conflict. Most presidents have just thought, they’ll kick the can down the road. The risk is simply too great to kick that increasingly dangerous can down the road.

MARGARET BRENNAN: Yeah.

SEC. WRIGHT: President Trump’s bold leadership is enough’s enough. We’re going to put it to an end.

MARGARET BRENNAN: I want to ask you about Venezuela. The U.S. deposed Maduro. He’s sitting in a prison. Just this past week, though, we had the interior secretary visiting Venezuela and sitting across from Maduro’s Chief thug, Diosdado Cabello. This is someone who has a $25 million bounty on his head. He ran the prisons, he ran the militias. He was treated as a counterpart to an American official. Is this the same playbook the Trump administration is going to run in Iran, that you will deal with the same regime you’ve been telling me is terrible to deal with for 47 years?

SEC. WRIGHT: We don’t know what the regime will be in place at the, at the end of this conflict, but we do know that regime will not have a massive weapons arsenal, that that regime will no longer be a massive threat to Americans and to the Middle East and to global oil supplies. President Trump is using bold leadership. We can’t change the world at a blink of an eye, but we can steer it in massively positive directions, and yes, Venezuela is a great example of that. Crime in the nearby Trinidad and Tobago has plummeted already from our actions in Venezuela, and President Trump’s insistence that he’s going to work with that our neighbors to reduce drug trafficking in the Western Hemisphere. Leadership takes- involves risks, but if you want to drive improvement, you’ve got to be confident, you’ve got to have the right agenda, and you’ve got to have the courage to do it. This president does.

MARGARET BRENNAN: Energy Secretary Wright, thank you for your time this morning. Face the Nation will be back in a minute. Stay with us.

[END TRANSCRIPT]

Mar 8 2026

Part II – Europe and China Have an Energy Problem


Posted originally on CTH on March 7, 2026 | Sundance 

When President Donald Trump and President Vladimir Putin met in Alaska on August 15, 2025, the focus of the geopolitical world was on discussions surrounding Ukraine.  Unfortunately, it didn’t take long, merely a few hours, for both the U.S. and Russia to say that no progress was made.  However, also noted at the time was both the USA and Russia saying sideline discussions took place surrounding the possibility for a strategic relationship surrounding energy development.

What follows below is a review of the current energy dynamic, specifically surrounding LNG, against the backdrop of the Iran war with a hindsight review of that previous discussion between Putin and Trump.

What most people are missing in their current analysis was something that took place immediately following that Alaska summit six months ago.  Something that did not make any sense until now. {GO DEEP PART I HERE}

Three days after that summit meeting, on August 18, 2025, Russia announced they were restarting Russia’s Arctic-2 LNG production facility.  Russia would be more than doubling their capacity to generate and store liquified natural gas (LNG).

It absolutely did not make sense that Russia would start producing even more LNG considering the previously imposed western sanctions against them, and the fact that Russia was already overproducing LNG. As noted by analysts at the time:

AUGUST 18, 2025 – Russia’s Arctic LNG 2 export facility, which is sanctioned by the United States, is coming back to life after a year of no activity and is looking for buyers in Asia.

[…] The U.S. and EU sanctions on Russia’s Arctic LNG 2, which was billed as Russia’s flagship LNG project, have effectively frozen the start-up of the export facility in the Gydan Peninsula.

[…] Last year, Russia started shipping LNG from its flagship Arctic LNG 2 project—but not to customers. The shipments were made from the Arctic project to floating storage units either in Russia or in European waters, as potential customers were unwilling to buy the sanctioned LNG. {SOURCE}

In August of 2025, Russia was essentially producing more LNG than they could sell into the available market.  Russia was storing the overproduction from Arctic-1 on floating storage units and slowly selling to countries that did not align with the sanctions, specifically China and some Asian buyers.  Then suddenly, after the Trump summit, Russia decides to bring Arctic-2 online and produce even more LNG.  You can see how this did not make sense.

If they could not even sell all the Arctic-1 LNG output, then why would Russia bring Arctic-2 LNG production online?

That was six months ago.

Suddenly, with the war in Iran being triggered, and with Qatar almost immediately announcing they were shutting down all LNG production, there are dozens of new markets for liquified natural gas. And that current LNG is now worth 50% more than it was when Russia inextricably decided to start producing and storing it.

Apply some hindsight to this timeline.  Did Russia know or discover something in August of 2025 that the world would not discover until six months later?

Russia’s behavior in increasing LNG production, then storing that LNG in strategic venues, during a time when there was no reasonable incentive to trigger an LNG output increase, would seem to answer that question in the affirmative.

One thing is certain, all of that previously produced LNG is now worth double what it was when Russia created it, and now the global market is scrambling to get it.

Here is where it gets really interesting….

In October 2025, do you remember me asking why President Trump decided to fly East, to go West to the ASEAN summit in Asia?  It just didn’t make sense.

Previously in 2017 when President Trump went to the ASEAN summit, he flew West; Airforce One refueled in Guam.  This time in 2025, a few weeks after the meeting with President Putin in Alaska, President Trump flew East, to go West.

Where did he refuel?

That’s correct.  President Trump refueled in Qatar, and during the ‘unexpected’ stop he met, yet again, with Qatari leadership.

♦ In May 2025 President Trump traveled to Qatar and had numerous and lengthy conversations, signing multiple strategic defense and trade deals.  ♦ In August 2025, President Trump meets with Vladimir Putin, who then begins ramping up production of LNG.  ♦ In October 2025, President Trump travels back to Qatar for a curious and unexpected visit.

Less than 36 hours after President Trump began “Operation Epic Fury” Qatar announces they are halting the production of LNG, and as a consequence the price of LNG jumped and a massive supply shift in global trade was created.

The Financial Times – […] The global battle for gas is underway, with Europe on the front lines. Since Wednesday, March 4, at least four liquefied natural gas (LNG) tankers – factory ships with large, refrigerated tanks used to transport LNG over long distances – suddenly changed course. Initially headed for France, Belgium or Spain from Africa and the United States, they rerouted for Asia, according to data from the maritime analytics company Kpler. (read more)

MOSCOW, March 4 (Reuters) – Russia could halt gas supplies to Europe right now amid a spike in energy prices triggered by the Iran crisis, President Vladimir Putin warned on Wednesday, linking the possible decision to the European Union wanting to ban purchases of Russian gas and liquefied natural gas. (read more)

MOSCOW, March 6 (Reuters) – “Our companies are considering opportunities, ​without waiting for ​further restrictions from Europe, to conclude ‌new long-term contracts with ​our partners ​and redirect some of the gas from Europe to other countries, including India, Thailand, ​the Philippines and ‌the People’s Republic of China,” Russian Deputy Prime Minister Alexander Novak ​said.

Next announcement:

[SOURCE]

Six months ago, following a summit in Alaska with President Trump, President Vladimir Putin began producing and storing LNG at a scale and capacity that did not make sense.   Six months later, the now massive Russian inventory is worth twice as much as it was, AND the number of global buyers for the Russian LNG has exploded.

Meanwhile, “while China would suffer from oil outages, a Middle East crisis with disproportionate LNG outages might benefit the PRC. Natural gas accounts for a relatively small share of China’s primary energy consumption, the country enjoys substantial domestic production, and it can tap pipeline imports from Russia, Central Asia, and Myanmar. Significantly, many of the PRC’s competitors or rivals—the European Union, Japan, South Korea, and Taiwan—are substantially or even wholly reliant on LNG imports for their natural gas consumption. Dutch TTF natural gas prices are up more than 50 percent against last Friday’s close, fueling concerns of an energy-induced inflationary spike.”

Where is President Trump scheduled to go next?

WASHINGTON/BEIJING, March 3 (Reuters) – The U.S. military campaign against Iran has put Chinese leader Xi Jinping on the back foot ahead of an expected summit with U.S. President Donald Trump, who for the second time in as many months has turned America’s military against one of Beijing’s close partners.

Trump is set to arrive in Beijing at the end of March following the ​U.S. capture of Venezuelan President Nicolas Maduro in a risky Caracas raid in January and the U.S.-Israeli air war that on Saturday killed Iran’s Supreme Leader Ayatollah Ali Khamenei, the former ‌leaders of two countries that have been major oil suppliers for China.

[…] Xi now faces the awkward prospect of feting Trump on the world stage or backing out of the proposed March 31 to April 2 ​meeting. Beijing has yet to confirm the summit dates. (read more)

.

Huh, imagine that….

Mar 8 2026

Right Now, Russia is Like Amazon During COVID


Posted originally on CTH on March 7, 2026 | Sundance

We like the deep weeds, most do not.  The geopolitical ramifications of the U.S. confrontation with Iran are vast and complicated; however, to encapsulate one of the most interesting dynamics consider this ‘tldr’ statement to open the discussion with your friends: Right now, Russia is like Amazon during COVID-19.

What follows is not me saying President Trump and President Putin are holding nightly conversations, discussing steps or details, or even obliquely coordinating measures as Trump eliminates the generational threat posed by Iran.

However, I am saying that given the nature of all contact and communication between Trump and Putin, including extensive contacts by their representative emissaries, both Putin and Trump are well aware of each downstream effect from the Iranian confrontation.

Two days after the U.S./Israel began Operation Epic Fury, President Vladimir Putin said Russia should consider shutting down oil and liquified natural gas (LNG) shipments to the EU in advance of the previously scheduled April deadline date when the EU would stop purchases.

♦ First, remember ‘force majeure’ contract nullification is in place for every producer, supplier and transporter in the middle east. Second, with shipments from the Gulf of Oman greatly reduced, LNG prices along with oil prices are increasing rapidly.  The result – ships filled with oil and LNG currently on the water are diverting in real time as international bidding for the content of the ships take place.

If Putin stops selling LNG to Europe, and Europe cannot get LNG from the Gulf of Oman, and China/Asia are LNG dependent (not exporting), then where is Europe going to get the LNG to replace what Russia will no longer provide?

Answer: The United States, and to a lesser extent, Norway.

[SIDENOTE: now does President Trump continuously smacking Great Britain about shutting down their North Sea oil and gas operations take on context?  Geopolitical foresight? I digress. END SIDENOTE]

The European Commission’s decision to phase out and ultimately stop purchasing Russian oil/gas was made in 2025 prior to the Iran conflict triggering.  Europe’s replacement plan included increased LNG purchases from the U.S., Norway and middle east; the latter supply option is now void.

Europe’s decision to stop buying oil/gas from Russia puts them in a very precarious position.  The supply option for Europe is suddenly very limited, and Putin’s statement about stopping the flow early was obviously made with this understanding in mind.

Answer: The United States, and to a lesser extent, Norway.

[SIDENOTE: now does President Trump continuously smacking Great Britain about shutting down their North Sea oil and gas operations take on context?  Geopolitical foresight? I digress. END SIDENOTE]

The European Commission’s decision to phase out and ultimately stop purchasing Russian oil/gas was made in 2025 prior to the Iran conflict triggering.  Europe’s replacement plan included increased LNG purchases from the U.S., Norway and middle east; the latter supply option is now void.

Europe’s decision to stop buying oil/gas from Russia puts them in a very precarious position.  The supply option for Europe is suddenly very limited, and Putin’s statement about stopping the flow early was obviously made with this understanding in mind.

[Go back to the sidenote above.  Without question President Trump already knew that an LNG supply restriction from the middle east would disproportionately hurt Europe.  Both President Trump and President Putin would understand this geopolitically obvious fact/reality.]

If Europe now has to purchase more LNG from America (at higher prices) President Trump’s leverage over Europe increases.  If both oil and LNG prices increase substantially, the price of oil/LNG currently on the water increases.

[SIDENOTE #2 – Previously the EU confiscated their holdings of the Russian Sovereign Wealth Fund, value €210 billion held in Euroclear and another €50 billion from other G-7 countries; total €260 billion.  From those seized assets the EU created a €90 billion loan scheme to Ukraine with no repayment mechanism, because the EU predicts Russia will be forced to pay reparations for war and the negotiated settlement will deduct the €90 billion loan scheme from the balance.

Hungary, a Trump ally, is currently blocking the transfer of funds; but this payment scheme -created by the EU holding the assets- underpins why the EU will not permit the conflict to end without their approval. END SIDENOTE]

♦ To increase distribution of oil/gas “currently on the water” President Trump and Secretary Bessent have dropped the sanctions against Russian oil and LNG.  India and Southeast Asia, not coincidentally both with new U.S. free trade agreements, are suddenly bidding customers for previously sanctioned oil/gas.

Here it is important to note that ‘sanctioned’ oil and gas sales were done in the transactional currencies of the selling and buying country (see BRICS).  However non-sanctioned oil/gas, traditional OPEC market oil/gas products, are bought and sold using petrodollars.  If Russia is suddenly allowed to sell to OPEC market customers, then petrodollars will likely back the transaction.  Who wins, Putin (higher prices) & Trump (leverage and petrodollar).  Who loses, the EU.

Now, you know how much I love timelines to explain things…. So consider:

On August 15, 2025, Vladimir Putin and President Trump met in Alaska. One of the key points that followed the meeting was both Trump and Putin discussing a realignment of strategic interests surrounding energy development.

On August 18, 2025, three days after the Alaska meeting:

[SOURCE]

We do not believe in coincidences at this level.

We have been waiting.

Two days ago, Treasury Secretary Scott Bessent announced the easing of sanctions against Russian oil/LNG exports, specifically toward Asia in order to relieve some of the global supply constraints. {SOURCE} Yesterday, Moscow announced the redirection of Russian oil/LNG exports to Asia {SOURCE}.

“Our companies are considering opportunities, ​without waiting for ​further restrictions from Europe, to conclude ‌new long-term contracts with ​our partners ​and redirect some of the gas from Europe to other countries, including India, Thailand, ​the Philippines and ‌the People’s Republic of China,” Russian Deputy Prime Minister Alexander Novak ​said.

♦ Before February 28, European Title Transfer Facility (TTF) liquified natural gas traded around 35 euros per megawatt hour. As of March 6, TTF settled at 52.81 euros, a 50 percent monthly surge in the value of LNG to Europe.

Asian Japan Korea Marker (JKM) spot cargoes, the benchmark LNG price assessment, are trading above $20 per million BTU, with Bangladesh paying $28.28 for emergency deliveries.

The difference between Russia selling LNG to hostile Europe or selling Russian LNG to friendly Asia at post gulf crisis premiums is the widest it has been since the post pandemic (2022) ‘Build Back Better” energy crisis.

Russia supplied 13.8 million tonnes of LNG to Europe in 2025. The EU is phasing Russian gas out: short-term contracts banned beginning in April, full LNG ban by year end 2025, pipeline gas fully banned by 2027.

Russia is not fighting the EU bans; Russia is finding new customers at higher prices. Every tonne Russia redirects to Asia before the EU ban was scheduled to begin creates a potential long-term contract at a premium price with a buyer who will not legislate Russia out of the relationship.

Qatar and all shippers and suppliers declared force majeure after Iranian drones struck Ras Laffan facility on March 2, 2026.  Approximately 20% of global LNG went offline. Asian buyers are now bidding against Europe for every tanker “on the water.”  Russia has a lot of supply on the water and the ability to put a lot more into the market quickly.

Hormuz is closed, at least temporarily, through forced reinsurance withdrawal triggered by the U.K (Lloyds insurance market). And Russia, the one major energy exporter whose supply chains run through neither the Gulf nor the Strait, is the only non-western producer that can deliver to Asia without navigating a war zone.

Right now, Russia is to energy supplies for Asian customers as Amazon was to U.S. consumers during COVID.  Both selling to an isolated and captive customer base, who were regulated out of options.

SUMMARY: 

(1) Upon reelection President Trump told all U.S. energy providers to “drill baby drill” and maximize energy production. Trump then deregulated the industry for maximum efficiency: Secretaries Burgum (Interior), Wright (Energy) and Zeldin (EPA).

(2) Trump then meets with Putin in Alaska Aug 15, 2025.  Three days later, Aug 18, 2025, Putin restarts Russia’s flagship Arctic project, the LNG export facility via the Northern Route to Asia.

(3) President Trump then signs contracts with Finland for the urgent start of Arctic icebreaking ship manufacturing in the USA and emphasizes the prior conversation about taking over Greenland which infuriates the Danes and EU.

(4) President Trump then triggers the Venezuela operation, captures Nicholas Maduro and -in addition to other benefits- forms a new strategic oil development relationship with the interim Venezuela government.  Russia stays silent.

(5) President Trump then triggers Operation Epic Fury against Iran; completely changing the geopolitical landscape that surrounds energy partnerships.  Energy flows through the Gulf of Oman are impacted.

(6) President Trump then removes specific sanctions against Russia permitting Russian oil and LNG to be sold (in petrodollars) into the Asian market.  Meanwhile, the European Union is forced to increase LNG purchases from the United States.

Sure, it could all be just coincidence… or not.  One thing is certain, the FIVE-EYES opposition do not think all of this downstream benefit that flows to Russia and the USA is coincidental.  The FIVE-EYES opposition see all of this as a strategic realignment between the USA and Russia, and they are going to do everything in their power to stop it.

Now does this sudden news story make sense?

(Reuters) – “Russia is ready to divert oil to ​India to offset Middle East supply disruptions, with about 9.5 million barrels of Russian crude in vessels near Indian waters and able ‌to arrive within weeks, an industry source with direct knowledge told Reuters.  The source declined to say where the non‑Russian fleet cargoes were originally headed but said they could deliver to India within weeks, giving refiners rapid relief.”

There are trillions at stake!

Mar 7 2026

Orban Intercepts Zelenskyy’s Money Laundering Operation – Zelenskyy Threatens to Send Ukraine Special Forces to Assassinate Orban


Posted originally on CTH on March 6, 2026 | Sundance 

The origin of the latest development goes back several weeks.

Ukraine (Zelenskyy) was angry at Hungary (Orban) for blocking the €90 billion EU loan (a loan with no payback clause) which was backed by confiscated Russian sovereign wealth funds.  A splendidly European financial scheme.

To get back at Viktor Orban, Volodymyr Zelenskyy destroyed an oil/gas pipeline hub in Ukraine that transferred Russian oil to Hungary and Slovakia (Robert Fico).

Hungary and Slovakia were furious, and Zelenskyy said repairs were too complicated to be easily fixed.  Viktor Orban and Robert Fico then doubled down on blocking Ukraine funds and Ukraine’s assentation to the EU.

When Zelenskyy was questioned about Hungarian or EU inspectors visiting the site to evaluate the repairs, Zelenskyy said they would not be allowed access.

Zelenskyy further noted when he was told Patriot Missiles were in short supply, he did not get to visit the inventory; implying his lies were similar to lies told by the United States.

Caught in a lie, Zelenskyy followed up by saying he didn’t care, it was Russian oil so get lost.

Two days ago, Hungary then intercepted two Ukraine vans carrying $40 million in cash dollars, €35 million in cash Euros, and 9 kg of gold – presumably a money laundering transfer intended to fund Zelenskyy and his intelligence chiefs.

Hungarian Foreign Minister Péter Szijjártó stating that “since January, $900 million and €420 million in cash, as well as 146 kilograms of gold, have been transported across Hungary.”

The shipment apprehended by Hungary included 40 million U.S. dollars as well as 35 million euros and 9 kilograms (19.8 pounds) of gold — worth around $1.5 million at current prices — according to a separate statement by Oschadbank.

Hungary’s National Tax and Customs Administration confirmed Friday that it had detained the Ukrainian citizens and seized the two armored cash-transport vehicles. It added it was conducting criminal proceedings on suspicion of money laundering. {LINK}

Upon hearing of the intercept yesterday, a highly angered Volodymyr Zelenskyy then threatened to send Ukraine “special military operators” to the home of Viktor Orban to extract revenge.

Zelenskyy’s threat caused the European Commission to issue an unusual rebuke of the Ukraine dictator.

“Specifically in relation to the comments made by President Zelenskyy, we are very clear as the European Commission that that type of language is not acceptable. There must not be threats against EU member states,” Commission deputy chief spokesperson Olof Gill told reporters Friday, in a rare condemnation of the leader in Kyiv. {link}

Zelenskyy, with pants down and visibly on fire, now missing all the money/gold, retreats from the originating position that started this mess and says he will repair the oil transfer station he destroyed, if Hungary will permit Ukraine to get the €90 billion loan (not a loan) from the Russian sovereign wealth fund.

[…] After his emotional outburst on Thursday, Zelenskyy said he was ready to repair and restart the pipeline in a month if the EU officially requests it and promises Orbán will unblock the €90 billion loan.

Ukraine is expected to run short of funds by the end of March as it resists Russia’s full-scale invasion, and EU leaders have pledged to cover Kyiv’s financial needs for the next two years — a pressure point the Commission sees as partly explaining Zelenskyy’s anxiety over the veto and potentially prompting his remarks.

Speaking from the podium in the Commission’s Brussels headquarters, Gill urged both sides to cool it. {LINK}

Then…

Trying to give diplomatic western impressions but stuck with the Ukraine Nazi mentality at the forefront and visible, Volodymyr Zelenskyy angrily says he will help U.S. allies with anti-drone technology and strategy, but only if the United States will provide him with Patriot Missile batteries.

[…]  ““Our appeal is very simple: we would like to quietly obtain, – from countries we can name and countries we cannot name, – obtain a deficit for ourselves, those Patriot missiles and give them the equivalent number of interceptors. Yesterday I had consultations with everyone: the Commander-in-Chief, the Chief of the General Staff, the Minister of Defense, our military, management, intelligence, and so on. We clearly understood how much we need and how much we can additionally produce very quickly if we have this kind of dialogue with our partners. Aside from that, we will definitely provide expertise — specifically in protecting civilians and oil infrastructure, which, as you can see, affects the entire world. We will definitely provide our expertise.

– Zelenskyy on Thursday, March 5th, 2026.”

[Pictured Above – intercepted money laundering funds]

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Mar 7 2026

President Trump: ‘No Deal with Iran Except Unconditional Surrender’


Posted originally on CTH on March 6, 2026 | Sundance | 162 Comments

The U.S. and Israel have been targeting deep underground missile sites within Iran, with strong success.  Iranian counterstrikes, missile & drone launches are down 80 to 90 percent according to Pentagon officials.

Additionally, the Israeli military has reported they dismantled an underground bunker system in Tehran used by regime leadership.  Originally the bunker was used by slain Supreme Leader Ayatollah Ali Khamenei underneath the leadership compound in central Tehran.  The bunker was targeted by 50 Israeli fighter jets and subsequently destroyed.

President Trump announced via Truth Social that he will not seek any terms with Iran other than unconditional surrender.

[SOURCE]

Meanwhile, in a somewhat predictable move, Treasury Secretary Scott Bessent has announced the U.S. will lift some sanctions on Russian oil exports in order to mitigate shortfalls.  India will be permitted to purchase additional Russian oil for use in their refineries.  The gasoline end products will then be sold into the market.

BESSENT: “President Trump’s energy agenda has resulted in oil and gas production reaching the highest levels ever recorded.

To enable oil to keep flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil. This deliberately short-term measure will not provide significant financial benefit to the Russian government as it only authorizes transactions involving oil already stranded at sea.

India is an essential partner of the United States, and we fully anticipate that New Delhi will ramp up purchases of U.S. oil. This stop-gap measure will alleviate pressure caused by Iran’s attempt to take global energy hostage. (more)

Strategically, it has always appeared that President Trump wanted to remove the sanctions against Russia as part of a negotiated peace deal with Ukraine.  However, the intransigence of Ukraine and the EU had blocked that move.  I would anticipate at some date the U.S. will use the opportunity of global need as a justification to permit more Russian oil to be sold into Western markets.

This approach will not make Ukraine or the EU happy; however, it could be structured to put petrodollars back in control of Russian oil sales.  That approach would further weaken China and the BRICS assembly who have been purchasing energy products in domestic exchange currencies.

The U.S., Venezuela and Russia could increase output and replace the missing oil production from the middle east region. This would stabilize markets.  Although, the politics of that approach would face stiff opposition.

What seems very likely is that Bessent, Rubio and Trump have a plan.   If there’s one person in U.S. politics who understands how to use oil to financially mitigate any geopolitical impacts, it’s President Trump.

Keep an eye on Russia.  Ignore the western media narratives and look for direct source information on Russian oil activity.

Let them work and just keep watching

Mar 6 2026

European Parliament Accelerates DIGITAL EURO


Posted originally on Mar 6, 2026 by Martin Armstrong |  

The European Parliament has now thrown its support behind the creation of a digital euro, marking a significant political step toward introducing a central bank digital currency across the eurozone. While the project has been under development for several years at the European Central Bank, this vote signals that lawmakers are increasingly prepared to move the concept from theory toward reality.

Members of Parliament approved amendments endorsing a digital euro that would function both online and offline, effectively aligning with the European Central Bank’s vision for a publicly issued digital form of money. The vote passed with a strong majority, signaling broad political backing for the idea that Europe should create a digital currency controlled by its own monetary institutions rather than relying entirely on private payment networks.

The move reflects growing concern within Europe about the structure of global payment systems. A large portion of digital transactions within the European Union currently run through networks such as Visa and Mastercard, companies headquartered outside the EU. European policymakers have become increasingly uncomfortable with this dependency, arguing that payment infrastructure is no longer just a technical system but a strategic asset tied to economic sovereignty.

euro digital electric
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Officials have openly framed the digital euro as a way to regain control over the “rails” of Europe’s payment system. If payments are moving steadily away from cash and toward electronic platforms, central banks want to ensure that sovereign currency continues to play a role in that environment rather than being displaced by private payment systems or foreign financial networks.

Under current proposals, the digital euro would complement cash rather than replace it immediately. Citizens would access the currency through digital wallets provided by banks or financial institutions, allowing them to send and receive payments electronically using money issued directly by the central bank. Supporters argue this would preserve public access to central bank money in an economy where physical cash is used less frequently.

Yet the broader implications extend beyond convenience. A digital currency issued by a central bank changes the architecture of the financial system itself. For the first time, individuals could potentially hold digital money backed directly by the central bank rather than commercial bank deposits. That raises complex questions about the relationship between central banks, commercial banks, and the public.

The project remains in its legislative and technical stages. EU governments agreed on a negotiating framework in late 2025, and the European Parliament’s vote now signals that lawmakers are prepared to move forward with the next phase of legislation. If the regulatory framework is finalized in the coming years, the European Central Bank hopes to begin pilot testing around 2027, with a potential public rollout later in the decade.

Mar 4 2026

President Trump Announces U.S. Insurance Underwriting for “All Maritime Trade Flowing Through the Gulf” Along with U.S. Military Escorts


Posted originally on CTH on March 3, 2026 | Sundance

♦ First blow, the Trump tariffs hit Beijing hardest. ♦ Second blow, the Beijing tentacle on the Panama Canal is severed.  ♦ Third blow, global tariff threats changed the risk dynamic for southeast Asia countries who acted as transnational shippers for China. ♦ Fourth blow, cheap sanctioned oil from Venezuela was cut-off. ♦ Now, the fifth blow; cheap, sanctioned Iranian oil is disrupted.

As noted by Politico: Following USA military strikes, “ships have begun to avoid the Strait of Hormuz off the coast of Iran — a critical shipping lane for Gulf nations to export oil to Asia. China in 2025 received about half of its imported oil from the six Gulf countries that rely on the strait. Other large crude oil producers in the region — including Saudi Arabia, Iraq and the United Arab Emirates — transport almost all their crude exports through the geographic bottleneck.”

[SOURCE]

It’s not just a factor of oil flow, but also the price that China will ultimately end up having to pay.  Beijing was buying oil from Venezuela, Iran and Russia at steep discounts because their purchases were skirting western sanctions.

With Iranian oil production now no longer a market option, China will seek to replace their needs with more Russian alternative. However, that diversion means the oil India was purchasing from Russia will come at a higher price, and the refined final product that was exported by India will arrive to the European Union carrying an additional cost.

Simultaneously, Vladimir Putin was asked about Russia’s lack of military support to Iran in response to the U.S. military action, to wit the Russian president noted the technical terms of their joint military agreements did not include Russia’s immediate involvement.  In shorthand, Russia is busy and is not getting involved.

Russia was/is partially dependent on receiving military supplies from Iran in exchange for oil transfers.  The military component is reported to include drones from Iran for use in the Ukraine conflict.  Now that exchange profile is shuttered.

Taking Iran’s malign influence off the geopolitical chessboard is beginning to surface in major challenges to the BRICS assembly (Brazil, Russia, India, China, South Africa).  Russia, China and India are impacted directly.

The BRICS nations were skirting western oil sanctions by trading the commodity outside the petrodollar structure.  However, President Trump now controls the flow of oil from Venezuela, and his administration controls the currency in which it is sold.

With Iranian oil removed from the non-petro supply chain, the only remaining non-petro oil producer is Russia – who is simultaneously hit with a loss in military hardware support.  China may end up as a larger oil customer to Russia, but at what price and in what payment structure.

With global oil supplies in a state of flux, and with the USA in control of the oil flow from Venezuela, North America is certainly in the best position for minimal energy disruption.

Asia is heavily dependent on oil flows through the Strait of Hormuz, and the majority of Europe has already shut themselves off from Russian oil production, putting themselves in a position of dependency to the global markets.  The short-term ramifications of this oil disruption hit China, Southeast Asia, Japan and Europe particularly hard.

“OPEC+ countries affirmed on Sunday that they would boost oil production starting in April by 206,000 barrels daily — a modest increase intended to dampen the war’s effect on prices down the road. The majority of the increase would come from Saudi Arabia and Russia.” {SOURCE}

All of a sudden, this happens: Zelenskyy not to be trusted?

“Ukraine is under pressure to let the EU inspect a damaged pipeline carrying Russian oil to Hungary and Slovakia, as the two pro-Kremlin countries accuse Kyiv of overstating the impact of an attack by Moscow — despite what Ukrainian officials say is evidence of extensive destruction,” the report said.

According to five diplomats and EU officials who spoke to the FT, even pro‑Ukrainian governments within the European Union and the European Commission have also asked Ukraine to permit a delegation to inspect the pipeline. Two sources told the newspaper that European Commission President Ursula von der Leyen requested access for EU experts during her visit to Kyiv on Feb. 24, the fourth anniversary of Russia’s full-scale invasion. The request, according to the sources, was refused.

As tensions escalated, the EU’s ambassador to Ukraine, Katarina Mathernova, reportedly asked through the presidential office for permission to inspect the damaged pipeline herself or to allow visits by other EU diplomats. Those requests were denied for security reasons, the sources said.” (link)

T

Mar 4 2026

Iran Conflict – Oil Disruption Hits Key BRICS Members Hard


Posted originally on CTH on March 3, 2026 | Sundance

Consider the severe economic body blows to China in the past 14 months.

♦ First blow, the Trump tariffs hit Beijing hardest. ♦ Second blow, the Beijing tentacle on the Panama Canal is severed.  ♦ Third blow, global tariff threats changed the risk dynamic for southeast Asia countries who acted as transnational shippers for China. ♦ Fourth blow, cheap sanctioned oil from Venezuela was cut-off. ♦ Now, the fifth blow; cheap, sanctioned Iranian oil is disrupted.

As noted by Politico: Following USA military strikes, “ships have begun to avoid the Strait of Hormuz off the coast of Iran — a critical shipping lane for Gulf nations to export oil to Asia. China in 2025 received about half of its imported oil from the six Gulf countries that rely on the strait. Other large crude oil producers in the region — including Saudi Arabia, Iraq and the United Arab Emirates — transport almost all their crude exports through the geographic bottleneck.”

[SOURCE]

It’s not just a factor of oil flow, but also the price that China will ultimately end up having to pay.  Beijing was buying oil from Venezuela, Iran and Russia at steep discounts because their purchases were skirting western sanctions.

With Iranian oil production now no longer a market option, China will seek to replace their needs with more Russian alternative. However, that diversion means the oil India was purchasing from Russia will come at a higher price, and the refined final product that was exported by India will arrive to the European Union carrying an additional cost.

Simultaneously, Vladimir Putin was asked about Russia’s lack of military support to Iran in response to the U.S. military action, to wit the Russian president noted the technical terms of their joint military agreements did not include Russia’s immediate involvement.  In shorthand, Russia is busy and is not getting involved.

Russia was/is partially dependent on receiving military supplies from Iran in exchange for oil transfers.  The military component is reported to include drones from Iran for use in the Ukraine conflict.  Now that exchange profile is shuttered.

Taking Iran’s malign influence off the geopolitical chessboard is beginning to surface in major challenges to the BRICS assembly (Brazil, Russia, India, China, South Africa).  Russia, China and India are impacted directly.

The BRICS nations were skirting western oil sanctions by trading the commodity outside the petrodollar structure.  However, President Trump now controls the flow of oil from Venezuela, and his administration controls the currency in which it is sold.

With Iranian oil removed from the non-petro supply chain, the only remaining non-petro oil producer is Russia – who is simultaneously hit with a loss in military hardware support.  China may end up as a larger oil customer to Russia, but at what price and in what payment structure.

With global oil supplies in a state of flux, and with the USA in control of the oil flow from Venezuela, North America is certainly in the best position for minimal energy disruption.

Asia is heavily dependent on oil flows through the Strait of Hormuz, and the majority of Europe has already shut themselves off from Russian oil production, putting themselves in a position of dependency to the global markets.  The short-term ramifications of this oil disruption hit China, Southeast Asia, Japan and Europe particularly hard.

“OPEC+ countries affirmed on Sunday that they would boost oil production starting in April by 206,000 barrels daily — a modest increase intended to dampen the war’s effect on prices down the road. The majority of the increase would come from Saudi Arabia and Russia.” {SOURCE}

All of a sudden, this happens: Zelenskyy not to be trusted?

“Ukraine is under pressure to let the EU inspect a damaged pipeline carrying Russian oil to Hungary and Slovakia, as the two pro-Kremlin countries accuse Kyiv of overstating the impact of an attack by Moscow — despite what Ukrainian officials say is evidence of extensive destruction,” the report said.

According to five diplomats and EU officials who spoke to the FT, even pro‑Ukrainian governments within the European Union and the European Commission have also asked Ukraine to permit a delegation to inspect the pipeline. Two sources told the newspaper that European Commission President Ursula von der Leyen requested access for EU experts during her visit to Kyiv on Feb. 24, the fourth anniversary of Russia’s full-scale invasion. The request, according to the sources, was refused.

As tensions escalated, the EU’s ambassador to Ukraine, Katarina Mathernova, reportedly asked through the presidential office for permission to inspect the damaged pipeline herself or to allow visits by other EU diplomats. Those requests were denied for security reasons, the sources said.” (link)

Mar 4 2026

President Trump Announces U.S. Economic Boycott of Spain During Meeting with German Chancellor Friedrich Merz


Posted originally on CTH on March 3, 2026 | Sundance 

President Trump holds a bilateral meeting with German Chancellor Friedrich Merz in the Oval Office.  After brief remarks of mutual appreciation, President Trump and Chancellor Merz responded to questions from the assembled press pool.

Chancellor Merz expressed support for the objective of eliminating the regime threat from Iran.  President Trump notes at the beginning how Iran is targeting civilian targets in the region and generating even more support from the Gulf states for the USA.

When asked about the British and Spanish refusal to support U.S. military logistics and deployment, President Trump let the media be aware he is not happy with the position of Spain and the U.K.  President Trump also announced [11:00 of video] an economic embargo of trade with Spain as an outcome of their position.

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Mar 4 2026

Spain and U.K Response to Iran Conflict Highlights NATO Weakness and Duplicity


Posted originally on CTH on March 3, 2026 | Sundance 

When addressing Greenland’s strategic value within U.S. Arctic defense efforts, President Trump argued that although the European Union and NATO insisted there was no need for American control —promising instead to marshal their combined military strength to defend the territory— he remained skeptical of their assurances. Trump’s remarks were met with swift shock and visible dismay. Pearls were clutched and jaws stood agape.

However, it only took a few weeks for a moment of clarity to surface following the Israeli/U.S. decision to strike Iran and eliminate the long-standing nuclear threat. Suddenly Great Britain and Spain tell the U.S. they will not allow American military use of their joint airbases.  Once, again President Trump’s lack of trust in NATO proved correct.

This visible example of unidirectional self-interest is happening at the same time European and British leadership are requesting demanding the United States provide the security guarantees for their Ukraine ambitions.  The contrast is stark.

Concerns about Islamist extremism within the U.K. appear to influence the thinking of British Prime Minister Keir Starmer. With a significant number of immigrants from Muslim-majority countries now living in Great Britain, some argue that actions perceived as antagonizing more radical elements abroad could have domestic repercussions within the U.K.  That said, the contrast in support is so stark that opposition leadership inside the U.K. are now confronting the British Prime Minister.

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