Ukraine Latest: Germany to Help Ukraine’s War Wounded & More News Here

(Bloomberg) — German Health Minister Karl Lauterbach will journey to Ukraine on Thursday to coordinate help on the bottom for individuals wounded within the struggle — together with these with extreme burns.

Some badly injured individuals have been flown to Germany for remedy however others with extreme burns have been handled in Ukraine, Lauterbach stated in an interview with Deutschlandfunk radio. Germany can be providing assist for these, together with some kids, who want prostheses for misplaced limbs, Lauterbach stated. 

(See RSAN on the Bloomberg Terminal for the Russian Sanctions Dashboard.)

 

Key Developments 

(All instances in CET)

• Fire at Key US LNG Export Terminal a Blow for Gas-Starved Europe
• Bank of Russia Rode Ruble Rally When War Left Few Other Options
• Shock of War Threatens Lasting Impact on Global Economy 
• A $450 Billion Opportunity to Ease Putin’s Grip: Lionel Laurent
• KPMG, Deloitte Detach from Russia Firms as Service Ban Begins

US LNG Outage Sends European Gas Soaring (8:11 a.m.)

Natural gasoline costs in Europe jumped, ending a six-day shedding streak, after an explosion at a significant US export terminal.

Benchmark futures traded in Amsterdam rose as a lot as 13%. 

The closure comes as pipeline provides from Europe’s high suppliers are additionally capped. Key services in Norway are present process annual upkeep this week. Russia’s provides are beneath capability after a number of European patrons have been reduce off for refusing to meet Moscow’s calls for to be in the end paid in rubles for its pipeline gasoline. 

US LNG Outage Sends European Gas Soaring as Supply Fears Revive

Invasion Hurts Tobacco Industry, BAT Says (8:27 a.m.)

British American Tobacco Plc stated Russia’s invasion of Ukraine and the ensuing financial harm will weigh on what number of tobacco merchandise the {industry} sells this yr.

The tobacco {industry}’s international quantity will in all probability drop about 3% in 2022 because the surge in gasoline costs reduces shoppers’ spending energy and financial prospects falter, the maker of Lucky Strike cigarettes stated Thursday. BAT’s earlier forecast was for a 2.5% industry-wide decline.

US Gas Fire a Blow for Fuel-Starved World (4:25 a.m.)

An explosion that may preserve a significant US liquefied pure gasoline export terminal shut for weeks will reduce important provides to Europe, which is already battling uncertainty round flows of the gasoline from Russia.

The Freeport LNG export facility in Texas will stay closed for no less than three weeks after a fireplace on Wednesday, an organization spokesperson stated. Almost a fifth of all abroad shipments of gasoline from the US went by way of the terminal final month.

The Texas outage can be coinciding with the beginning of the northern hemisphere summer time, when elevated use of air conditioners boosts demand from energy stations. It’s probably to push European and Asian LNG costs — that are already buying and selling effectively above ranges for this time of yr — larger nonetheless.

LNG patrons will in all probability begin attempting to find substitute shipments from the spot market, however there’s a dwindling quantity of provides out there, in accordance to merchants in Asia. 

Read extra: Fire at Key US LNG Export Terminal a Blow for Gas-Starved Europe

Blinken Blames Russia for Exacerbating Hunger (11:38 p.m.)

Blinken stated the US is working to get grain and different items out of Ukraine and overcome Russia’s blockade in order that the commodities can get to markets and to individuals, which might assist decrease costs. 

About 200 million individuals worldwide are “severely food insecure,” which is double the quantity from three years in the past, Blinken stated at a US Chamber of Commerce occasion at a gathering of Latin American leaders in Los Angeles. 

©2022 Bloomberg L.P.

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