That's what makes the price go up. Let me try using small words you might be able to understand. Less supply means higher price. If Russia can't deliver as much gas it was previously, then the price for the available gas surges because there isn't enough to meet demand. This is why Russia is making more profit while selling less gas right now. Since demand is high, that means Russia will keep building more pipelines east and increase volumes of sales to meet demand.

I haven’t said anything like that either. Both are dependent on each other, of course. Please stop putting words to my mouth.

You literally just admitted that the economy in Europe is collapsing because essential commodities from Russia have been cut off. Meanwhile, nothing essential in Russia is missing. This is why the effect on Europe is so much more profound.

Thanks! Seems I wasn’t aware of that site.

Seems like aren't aware of great many things.

Of course I meant the dollar and euro here.

It's pretty hilarious that you think these are the only currencies worth considering, given that all the industry and manufacturing is in Asia. You seems to be under the delusion that 15% of world's population in the west is still the most important part of the planet. It's not.

[+] varjolintu@lemmy.ml 2 points 2 years ago* (last edited 2 years ago) (1 children)

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[–] yogthos@lemmy.ml 3 points 2 years ago (1 children)

Sure, but that was the whole idea or the articles: it’s not certain how much is it going to cost in the end, and how long it will take. And how the future sanctions will affect. You repeate the same stuff like a broken record. It will take over a decade to get the volumes to the same level with Europe’s imports.

And I'm going to repeat once again that cost is driven by demand, and there is no reason for demand to drop. The sanctions have had no effect because only western countries are participating. All the sanctions do is increase price of energy in Europe because Europe is now buying Russian gas through third parties.

Russia is missing capability to do trade with Europe and Northern America. I’d call that pretty profound effect.

I would not call that profound effect because there is no evidence to support the idea that this had any profound impact on life in Russia. We see profound impact on life in Europe however. Also, you may not realize this but western companies losing business in a country of 150 million also hurts western companies. Any damage done to Russia by this process is symmetrically reflected on the west.

You think Europe and North America are going to trade with Russia using yuan or rubles? 🤣

No I don't. I simply don't think Europe and North America matter to Russia as trade partners in the grand scheme of things. Russia has plenty of trade partners without the west. Meanwhile, the west has not been able to secure alternatives to Russian commodities. Your chauvinism clouds your judgment. 🤣

[+] varjolintu@lemmy.ml 2 points 2 years ago* (last edited 2 years ago) (1 children)

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[–] yogthos@lemmy.ml 3 points 2 years ago (1 children)

But there’s multiple reasons why the supply cannot meet the demands.

Which makes the cost go up! In fact, you'll be seeing this soon personally when your country is going to be running out of essentials this winter. Perhaps personal experience will help you understand how supply and demand works.

With all the companies left from the country, that will surely have an impact in the future. We just cannot see the outcome yet.

Sure we can, inflation numbers for Europe just came out and it's double digit inflation all across Eurozone https://ec.europa.eu/eurostat/documents/2995521/14698140/2-30092022-AP-EN.pdf/727d4958-dd57-de9f-9965-99562e1286bf?t=1664464564725

We're not even in winter yet. Most analysts didn't expect things to get this bad until at least February. This is also a self reinforcing effect. As people see European economy crash they pull their capital out of Europe, and this causes others to pull their capital out too. Nobody wants to be left holding the bag when the crash happens.

[+] varjolintu@lemmy.ml 2 points 2 years ago* (last edited 2 years ago) (1 children)

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[–] yogthos@lemmy.ml 3 points 2 years ago* (last edited 2 years ago) (1 children)

Nice change of topic when you reach the point you can’t admit being wrong or the numbers I provided were actually accurate.

I'm literally discussing the same topic here. Costs for energy go up when the supply cannot meet demand. Once again, this is why Russia is currently making record profits while selling less gas. I've literally linked you pipelines Russia currently building to replace Europe. You just made a baseless assertion that they won't keep doing more of that going forward.

So about the same level as Russia?

Inflation in Russia has been falling, and it's now down to 7.5% already.

I’m still kind of baffled why Russia keeps stealing and exporting Ukrainian grain if they are so self-sufficient with food. Could you provide some insight to that?

Nice pivot there to a made up story. But even if we took this story at face value it doesn't support your point since it says Russia is EXPORTING grain from Ukraine. If they weren't self sufficient in food then they'd be using it themselves. It's amazing that this sort of thing needs to be explained.

[+] varjolintu@lemmy.ml 2 points 2 years ago* (last edited 2 years ago) (1 children)

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[–] yogthos@lemmy.ml 3 points 2 years ago (1 children)

And what makes China’s, India’s etc. demands to go up from the current imports?

The manufacturing that's moving there from Europe right now.

No it’s not. You picked the wrong number. That’s the central bank’s key rate. The inflation in August 2022 was 14,3%.

No, I didn't pick the wrong number. The inflation was at 15% peak, and has been coming down since.

Then why steal it?

Well going with the narrative of the article it's to sell it for profit. Did you read the article you linked? 😂

[+] varjolintu@lemmy.ml 2 points 2 years ago* (last edited 2 years ago) (1 children)

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[–] yogthos@lemmy.ml 3 points 2 years ago (1 children)

Yes, but I’m talking about demand or supply that will met the previous Europe’s exports. The calculations show that those numbers are not met even with the new pipelines, even with more supply and demand. Not sure why this is so hard to understand.

Not sure what part of Russia can build as many pipelines as they need you're struggling with here. Meanwhile, in the short term Russia is making money hand over fist, so not like they're hurting in the short term either.

Are you mixing this up to the estimates they have released for 2023?

No, I'm not. I'm talking about month by month inflation. Here's another breakdown for you https://www.focus-economics.com/countries/russia/news/inflation/inflation-comes-in-at-highest-level-since-february-2016-in-october-0

Consumer prices rose 1.11% in October over the previous month, picking up from the 0.60% increase seen in September. October's uptick marked the highest reading since March 2015 and was chiefly driven by rising prices for goods and food. Meanwhile, services prices were broadly stable at the outset of Q4.

Inflation increased to 8.1% in October, following September’s 7.4%. October's reading represented the highest inflation rate since February 2016. Meanwhile, the trend pointed up, with annual average inflation coming in at 6.1% in October (September: 5.7%). Lastly, core inflation rose to 8.0% in October, from September’s 7.6%.

Consumer prices are staying pretty stable. How does that compare with Europe again?