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EU: Energy collapse is imminent, food issues to follow
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  • BMW and Volkswagen suspend the work of factories across Europe due to a shortage of parts imported from Ukraine.

  • A number of Belgian food industry enterprises may close due to rising prices for energy, raw materials and transport, caused, among other things, by the crisis in Ukraine, the Belgian Food Industry Federation said in a statement.

    "Our businesses are facing historic cost increases... This could lead to a number of companies partially or completely shutting down their operations as production becomes unprofitable," the document says.

    The federation points out that for some companies, electricity bills have risen five times, which calls into question the continuation of their activities. "We call on the federal government to help with the payment of electricity bills for food companies, to take concrete measures in support of those most affected," the document says.

    Earlier, the Belgian government, amid rising fuel and electricity prices, decided to temporarily reduce VAT on electricity and gas from 21% to 6%, as well as reduce excise taxes on fuel. However, representatives of the food industry believe that additional targeted measures are needed to support enterprises.

  • They suddenly are for socialization of production now :) Except only for the costs

  • @RoadsidePicnic "Except only for the costs"

    Don't worry, the cost is socialized, for them. ;-)

  • Its funny to read a forum where people are saying with a straight face that the west forced Russia's hand and thats why they're bombing the shit out of apartment buildings in Ukraine. This is going to be painful for everyone, but I'm not sure what could have been done about it with Putin's ambitions.

  • @kellar42

    No one here is talking this. If you noticed from years before I told where things are going.

    If you want to blame Putin - you are free to do so, in your kitchen talks.

    But I warn you that it will be your dear capitalists who will blow up your own life.

    Also post is completely unrelated to topic title.

  • Recently, the Censis Institute for Social and Economic Research and the Italian association of cooperatives Confcooperative published disappointing forecasts on the situation - according to their data, about 184 thousand Italian firms may go bankrupt due to rising energy prices in the near future. That is, about 1.4 million people could lose their jobs.

  • All of this is part of the "Great Reset" plan. :(

  • Lithuania don't have many russian goods in shopping centers. Only 'Norfa' market have lot of russian production. It is 10% of Lithuania shoping market. Price grow up for inflation. But Gas and Petrol its another question.

  • @NURBS

    Issue is that lot of parts and commodities use in production are from Russia. Also lot of money are being made in transit and shipping business. Now it is all gone.

    If you heard Baltic countries officials - they promise only bad and miserable life.

  • By May, the European Commission will submit to the Council of Europe a detailed plan to phase out Russian gas within five years. At the same time, the injection of gas into the storage facilities of the EU countries should begin now - during the current heating season. This is stated in the draft decisions of the EU summit, which was published by Euractive.

    The European Commission proposes to oblige companies to fill UGS facilities by more than 90% (up to more than 90 billion cubic meters). Experts believe that traders and operators simply do not have enough money.

    “So far, they have not proposed any specific mechanisms to stimulate injection. Only political slogans and threats to introduce administrative measures of regulation. But this will only exacerbate the problems of gas companies,” said Alexei Grivach, Deputy Director of the National Energy Security Fund (NESF). He notes that if prices remain at current levels, companies will have to find about $100 billion to finance the injection of 80 billion cubic meters.

  • All voices around promise bad life. :( But it is reality, war is war.

  • @NURBS

    Issue is not open and clear war - issue is capitalism, that is constant war. Capitalism just try to hide constant war from your attention, put it under the veil.

  • If the West refuses Russian oil, prices will jump to $300 per barrel, and some even see the possibility of rising to $500 per barrel - Novak

    The Deputy Prime Minister of the Russian Federation added that Russian oilmen have already begun to redirect oil flows from the West to the East.

    EU economy will collapse for sure. US will survive, but will suffer.

  • Companies around the world “paused” deals worth $25 billion due to a special operation in Ukraine

    More than 80 large companies were forced to refuse to attract investments, according to Bloomberg. For example, Tesla lost $1 billion after the suspension of issuance of securities. Nestle, L'Oreal and Volkswagen are going to do the same.

    In early March, the publication predicted that the total collapse of transactions in Europe would reach at least $ 300 billion.

  • Italy's industrial system is threatened with paralysis due to rising prices for raw materials and energy after anti-Russian sanctions, the heads of the confederations of industrialists of the four most economically developed regions of the country (Lombardy, Veneto, Emilia Romagna and Piedmont) say in a joint statement.

  • In Germany, supermarkets massively increase food prices – Germans were advised to follow discounts and drink tap water

    Against the background of massive price increases in large German supermarket chains, a number of offers have been prepared for German residents that should help them survive the increase in cost. Pasta, detergents, mineral water, dairy products, toilet paper, oil and others are among the more expensive goods.

    As a cost-saving measure, Germans are advised to replace mineral water with tap water, buy seasonal fruits and vegetables, pay attention to unknown brands in supermarkets, which, according to FOCUS magazine, taste almost the same as the products of large manufacturers, use discount offers and follow the discounts.

  • Gas in Europe has risen in price by almost a third against the backdrop of Putin's statements - its cost has already exceeded $1,500 per thousand cubic meters. m.

    The cost of "blue fuel" in Europe has reached an incredible growth after Putin's statement that Russia will demand payment for gas from "unfriendly" countries only in Russian rubles.

  • A number of Belgian food industry enterprises may close due to rising prices for energy, raw materials and transport, caused, among other things, by the crisis in Ukraine, the Belgian Food Industry Federation said in a statement.

    "Our businesses are facing historic cost increases... This could lead to a number of companies partially or completely shutting down their operations as production becomes unprofitable," the document says.

    The federation points out that for some companies electricity bills have risen five times, which calls into question the continuation of their activities.

  • Inflation in Spain reached 7.6%, a record for 35 years, the truckers' strike lasts 10 days and costs retailers 130 million euros per day, as a result of which there is a shortage of products in stores, a restriction on the purchase of sunflower oil in the amount of no more than 5 liters has been introduced

  • Fertilizers price

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  • French winemakers are sounding the alarm because of the increase in the cost of wine and the decline in purchasing power against the backdrop of anti-Russian sanctions

    In recent months, prices have risen sharply for everything, according to French manufacturers: fuel has doubled, cardboard - by 40%. Wooden pallets and bottles are in short supply - the latter, if you look carefully, can be found, but at least a quarter more expensive.

    Prices began to rise even before the special operation in Ukraine and the crisis - sales were weak for two years due to the pandemic, and only everything began to pick up the usual pace, as the economic war began. Purchasing power against the backdrop of a jump in prices for gasoline and gas (https://t.me/readovkanews/28656) is falling due to anti-Russian sanctions.

    In the current situation, winemakers will have to reduce the variety of drinks. Only exports to the USA, Canada and Northern Europe feel confident. However, new markets in Russia are reduced to zero, winemakers report.

  • The events in Ukraine have shown that Germany should become completely independent of the import of Russian fuel, the country has already reduced coal imports from the Russian Federation by half, German Foreign Minister Annalena Berbock said in Berlin. She said this at an energy transformation event.

    Earlier in March, German Economy Minister Robert Habeck said that by summer the country would be able to halve imports of Russian oil, and abandon coal imports by autumn.

    Last week, the EU summit announced plans to stop buying Russian energy resources within a few years.

  • French Energy Regulatory Commission President Jean-Francois Karenko has urged all French people to save gas and electricity now, risking supply disruptions next winter, according to Le Figaro.

    The head of the energy regulator believes that gas supply difficulties and an unprecedented drop in nuclear electricity production will definitely lead to difficulties in the winter of 2022 if nothing happens.

    “We must save gas and electricity in France right now, otherwise things could go wrong next winter,” Jean-François Karenko insisted, urging everyone to make an effort, “industrialists, the sector, public buildings, but also each of us, be then by reducing heating, air conditioning, light consumption.

  • The cost of gas futures in Europe rose to $1,450 per thousand cubic meters. m. Prices are rising against the backdrop of statements by European companies that they will not buy gas for rubles.