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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (187077)

4/27/2022 5:09:15 AM

From: TobagoJack

Read Replies (2) | Respond to of 217789

Germany ready to do 'it'

bloomberg.com

German Minister Says Full Embargo on Russian Oil ‘Manageable’

Iain Rogers
26 April 2022, 22:20 GMT+8

Robert Habeck

Photographer: Liesa Johannssen-Koppitz/BloombergEconomy Minister Robert Habeck said Germany has already cut its reliance on Russian oil enough to make a full embargo “manageable,” potentially laying the groundwork for a continent-wide ban that would upend the global trade in petroleum.

The share of Russian oil in Germany’s imports has fallen to about 12%, from 35% before the invasion of Ukraine, Habeck said Tuesday at a news conference in Warsaw.

The remarks come as U.S. and European officials discuss steps the European Union could take to restrict oil imports from Russia and cut the income that Moscow makes from sales.

He said that he hoped that replacing the Russian oil feeding the refinery at Schwedt in northeastern Germany -- which is part-owned by Rosneft PJSC and accounts for the remaining 12% of Russian oil imports -- could be achieved “in a matter of days.”

“The problem that seemed very large for Germany only a few weeks ago has become much smaller,” Habeck, who is also vice chancellor in the ruling coalition in Berlin, told reporters. “Germany has come very, very close to independence from Russian oil imports.”

Before the war in Ukraine broke out at the end of February, the Schwedt and Leuna refineries in eastern Germany processed about half a million barrels a day of crude oil, the vast majority of it originating in Russia.

Druzhba’s DependentsGermany's eastern refineries depend on crude from Russia

Sources: Bloomberg; AW Consulting

Schwedt supplies 90% of the gasoline, jet fuel, diesel and heating oil consumed in Berlin and Brandenburg, according to the refinery’s website. Leuna is the primary supplier of fuels to the Thuringia, Saxony and Saxony-Anhalt regions -- including the cities of Dresden and Leipzig.

Habeck said the government plans to top up the two refineries with reserves from western Germany as it pushes ahead with the effort to achieve complete independence from Russian oil as soon as possible. The Leuna refinery had already managed to find alternative suppliers, he said.

Wider EffortAs part of a wider effort to stop buying Russian energy, Germany has signed up to a European Union-coordinated embargo on the nation’s coal, and is expanding LNG capacity to help cut reliance on its gas. A deputy foreign minister said last week that Germany is aiming to end Russian gas purchases “during 2024” and oil imports by the end of the year at the latest.

The options discussed between U.S. and European officials included a ban, a price cap and a payment mechanism to withhold revenue that Russia’s generated since the start of the war in Ukraine, Bloomberg reported last week.

Speaking alongside Habeck on Tuesday, Polish Environment Minister Anna Moskwa said that the government in Warsaw is ready to join EU partners in ending energy imports from Russia.

“We appreciate the gesture in the form of a coal embargo, and we expect an embargo on other Russian resources without undue delay -- here and now,” she added.

Read more:

Russia Oil Ban Would Bring Eastern Germany to Halt: Oil Strategy Germany Wrestles With Dependence on Russian Fossil Fuel Germany to Wean Itself Off Russian Oil, Gas in Next 2 Years

— With assistance by Piotr Skolimowski

To: TobagoJack who wrote (187077)	4/30/2022 9:27:43 AM
From: Pogeu Mahone	Respond to of 217789

Pfizer says its COVID-19 treatment Paxlovid fails to prevent infection of household members Posted 12h ago12 hours ago The Paxlovid trial involved 3,000 adults who were household contacts of someone who had recently tested positive to COVID-19.(AP) Pfizer says a large trial has found that its COVID-19 oral antiviral treatment, Paxlovid, was not effective at preventing cross-infection in people living with someone with the virus. Key points:Participants who took the 10-day course were found to be 37 per cent less likely to become infected, but the results were not statistically significant Paxlovid is used in more than 60 countries to treat high-risk COVID-19 patientsSales of Paxlovid are projected to reach $33.96 billion this year The trial enrolled 3,000 adults who were household contacts exposed to an individual who was experiencing symptoms and had recently tested positive to COVID-19. They were either given Paxlovid for five or 10 days, or given a placebo. Those who took the five-day course were found to be 32 per cent less likely to become infected than the placebo group. That rose to 37 per cent with 10 days of Paxlovid. However, the results were not statistically significant and, thus, possibly due to chance. Pfizer said safety data in the trial was consistent with previous studies, which had shown the pills to be nearly 90 per cent effective at preventing hospitalisation or death in COVID patients at high risk of severe illness when taken for five days shortly after symptom onset. Read more about the spread of COVID-19: As a result of COVID-19, more people are experiencing food insecurity Is the end of Western Australia's mask mandate reason to celebrate or cause for anxiety? Dr Anthony Fauci warns the COVID-19 pandemic is not over and another dangerous variant is possible"While we are disappointed in the outcome of this particular study, these results do not impact the strong efficacy and safety data we've observed in our earlier trial for the treatment of COVID-19 patients," Pfizer Chief Executive Albert Bourla said in a statement. FDA approves Pfizer's antiviral COVID-19 pill US health regulators authorise the first pill against COVID-19, a Pfizer drug that Americans will be able to take at home to head off the worst effects of the virus. Read more Pfizer said Paxlovid — which consists of two different antiviral drugs — is currently approved or authorised for conditional or emergency use in more than 60 countries across the globe to treat high-risk COVID-19 patients. Sales of Paxlovid — part of a class of drugs known as protease inhibitors — are projected to reach US$24 billion ($33.96 billion) this year, according to Wall Street forecasts compiled by Refinitiv. Shares of Pfizer, which fell 3 per cent in regular trading, were down another 1 per cent, at US$48.53 after hours.