EU Carbon Permits Continue Bad Time, Dropping Below 70 Euros (2)

March 1, 2022

CarrZee comment:

With Dutch natural gas surging 21% today, something has to give to protect profits from generating power. Is that something EU carbon futures?

Comments my way: mathew@carrzee.net

ICE: EUETS — euros / metric ton

Relevant Tweets and remember CarrZee’s take from the weekend.

See this thread:

Linked above:

EU Carbon Permits May Suffer More Drops This Week on Russia Sanctions; Oil Seen Rising (1)

–Note this more recent comment

Comment by By Mathew Carr, Feb. 27, 2022

European Union carbon permits may fall tomorrow (Monday) and later in the week because Russian banks and companies fearing sanctions will seek to liquefy any assets they hold that can be easily sold before the sanctions hit.

On Saturday, a group of nations including the United States and the EU moved to block certain Russian banks’ access to the SWIFT international payment system in a signal to Moscow to back off from its military “operation” in Ukraine.

The various banks will face sanctions over time (the timing does not immediately seem clear).

Also “we commit to imposing restrictive measures that will prevent the Russian Central Bank from deploying its international reserves in ways that undermine the impact of our sanctions,” the countries said (see press release copied below).

Photo by Magda Ehlers on Pexels.com

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