Romanian Officials Say Russia Finances European Fracking Protests
HughPickens.com writes Andrew Higgins reports in the NYT that Romanian officials including the prime minister point to a mysteriously well-financed and well-organized campaign of protests over fracking in Europe and are pointing their fingers at Russia's Gazprom, a state-controlled energy giant, that has a clear interest in preventing countries dependent on Russian natural gas from developing their own alternative supplies of energy and preserving a lucrative market for itself — and a potent foreign policy tool for the Kremlin. "Russia, as part of their sophisticated information and disinformation operations, engaged actively with so-called nongovernmental organizations — environmental organizations working against shale gas — to maintain dependence on imported Russian gas," says NATO's former secretary general, Anders Fogh Rasmussen. A wave of protest against fracking began three years ago in Bulgaria, a country highly dependent on Russian energy. Faced with a sudden surge of street protests by activists, many of whom had previously shown little interest in environmental issues, the Bulgarian government in 2012 banned fracking and canceled a shale gas license issued earlier to Chevron.
Russia itself has generally shown scant concern for environmental protection and has a long record of harassing and even jailing environmentalists who stage protests. On fracking, however, Russian authorities have turned enthusiastically green, with Putin declaring last year that fracking "poses a huge environmental problem." Places that have allowed it, he said, "no longer have water coming out of their taps but a blackish slime." For their part Green groups have been swift to attack Rasmussen's views, saying that they were not involved in any alleged Russian attempts to discredit the technology, and were instead opposed to it on the grounds of environmental sustainability. "The idea we're puppets of Putin is so preposterous that you have to wonder what they're smoking over at Nato HQ," says Greenpeace, which has a history of antagonism with the Russian government, which arrested several of its activists on a protest in the Arctic last year.
Keep in mind that just because Russia/Putin doesn't want fracking, it isn't a reason by itself to think tha fracking is a good thing.
I am european, and anti-fracking, and I have yet to receive my fat cheque from dear old Vlado.
Already seeing some quasi-defenses of this here. Guess the "get the money out of politics" folks actually mean "get YOUR money out of politics, ours is fine."
...in the US we call it "lobbying and advertising" and corporations of course spend billions trying to influence people to engage in behaviors that increase the profitability and public image of their business.
so it's in Russia's interest to prevent fracking...ok well they spend money to sway public opinion...sounds like SOP to me.
never bring a twinkie to a food fight.
Clearly oil companies don't give a rat's ass about the effects of oil extraction (can you say DeepWater Horizon?), so it just makes sense to find allies wherever you can. Given the Supreme Court ruling on non-disclosure of unlimited political contributions, it should be a snap to get Russian money into US politics. It's not like big business in the US has any national affiliation (Apple/Google paying no taxes), so why not get foreign funding? It's not that big a step from what corporations are doing already.
Cynical much?
Why is Snark Required?
Natural gas should be considered a strategic resource in the US. We should have enough export capacity to eliminate Russia's market share but leave it unused so we can benefit from our own low gas prices. This would provide us a great deal of leverage and industrial advantage simultaneously.
I'm Romanian, and there is some information missing from this "news". First of all, the Russian company Gazprom has been given a lot of exploration/exploitaition licences in Romania, including the rights for prospecting for shale gas. They operate through a Serbian subsidiary called Nis, and they have already started prospections in the Western area of the country. Therefore, I really doubt Russia finances the civic campaigns against fracking. Then, the Romanian officials quoted include a very controversial mayor of the village where Chevron first started to look for shale gas. That mayor happened to buy the field where the prospections were to be started just before Chevron came. He made a nice profit in the meanwhile, and the non-governmental organizations have acused him from the start of being - possibly - "persuaded" financially by Chevron itself. So these officials are far from being unbiased on the matter.
The other thing the story fails to tell about is that the movement against dangerous mining operations (not only fracking) is very strong in Romania for several years now, we had massive demostrations, with tens of thousands of protesters gathering in major cities each time such a danger was percieved. And they are the same protesters that actively despise Russia and its influence in the region. Because, unlike Hungary, Serbia and other neighbours, Romania has managed to keep the political Russian influence away -- we've had enough of their bright ideas when they imposed communism on us, and we do not forget that easily.
All in all, this looks like a manipulative story, possibly put forward by those who would have something to gain from fracking in a country where the population density/distribution makes this method dangerous if not criminal -- and this includes Russians. They won't succeed, of course, they keep underestimating our resolve/intelligence.
You have to read Vladimir Putins PhD thesis title and synopsis. This is hardly something new. The Soviet Union used to pay for anti-nuclear protestors in Europe and even gave the Jackal weapons that were later used in a terrorist attack against the SuperFenix fast breeder reactor in France.
Of course Russia is interested in having less competition. Competition would mean a lower oil price and thus less profits for them. Even if the people doing the fracking have less profit than they would have. As for the sales to China once the amount of possible clients is reduced enough the clients start having more leverage over price negotiations. One big reason why they did not bother with China before was that they insisted on paying a low price for the oil and natural gas. Once they stopped having someone else to sell it to the low price ceased to be a problem. Or did it? They have to build a long new pipeline to sell natural gas for less than they sold to Europe where the pipeline has been long paid for. I think you can see what the problem is here.
The value of the ruble has been sliding down a whole lot. It will be increasingly harder for regular Russians to buy imported stuff.
C'mon, that ain't ok. We've worked long and hard to pinpoint Russia as the new evil with Putin as the new Hitler, and now you push that all down by telling us that there's something GOOD coming from that side of the propaganda war?
Stop confusing your subjects!
We used to have a Bill of Rights. Now, with the rights gone, all we have left is the bill.
When Nixon ended the draft, SDS, the murderous leftist student organization, floundered around for a new issue. They hit on environmentalism...
Contribute to civilization: ari.aynrand.org/donate
You might want to reread what is happening. Russia had no choice but to sell to china at fraction of the price.
I prefer the "u" in honour as it seems to be missing these days.
I think they're trying to frack with you.
Links please.
I prefer the "u" in honour as it seems to be missing these days.
I'm not a big fan of fracking, but that burning tap water thing is bogus. Those people had methane coming out their faucet before fracking began. I don't like it when people use bad arguments for a good stance, just because it's easier.
Assuming you are american, u are in luck. Aca can now help u restart ur lithium supplies and stop the hallucinations
I prefer the "u" in honour as it seems to be missing these days.
You must be from the Russian equivalent of the 50 Cent Party.
I believe the Ferguson rioters were left-wing. And they were certainly trying to use violence to terrorize people for political purposes. Of course, you could always be loose as to your definition of terrorism on the right and not so loose on the left. And Moscow didn't need to fund them, but they still count as left-wing terrorists by your overly loose definition.
Furthermore, since you went back to 1995 for the Oklahoma City bombing, I can point out the rise of ecoterrorism, and the Discovery building shooter.
You do realize that fracking has been done commercially since 1949 ( http://en.wikipedia.org/wiki/H... ), right? What environmentalist are really concerned with is called horizontal completions, but that just doesn't have the insidious ring to it that "fracking" does. If we called it by it's real name, it would be much harder to scare those of us driven by emotion instead of reason.
Let's not forget there are some benefits to horizontal completions. Thanks to horizontal completions petroleum products (gasoline, jet fuel, diesel, plastics and on and on and on) prices are plummeting. Thanks to horizontal completions, natural gas is now cheaper the coal in the US and coal power plants are being converted to natural gas which is all around cleaner, safer, and produces half the CO2 of coal. Thanks to horizontal completions, OPEC's 40 year cartel appears to be at an end, and horizontal completions dropping the price of oil has been the most effective "sanction" by far on Russia, putting more pressure on Putin and the ruble then all the heads of state combined.
The SDS splintered years before Nixon ended the draft, so your chronology seems a bit off. The bulk of them went into anti-prison and anti-racism activism, as far as I can tell, not environmentalism.
10 PRINT CHR$(205.5+RND(1)); : GOTO 10
How much oil company/Middle East money there is behind the antinuclear movement.
Apparently all problems come from NGOs. Let's ban them. Everywhere.
Is that you, Vlad?
The similarity of goals make for strange bed-fellows. Russia and Saudi Arabia may have little else in common, but they are both major exporters of fossil fuels. Not having the same sort of spy-network as Russia, Saudis finance propaganda movies. Russia would do that too, of course — and take care of translating such movies for audiences in Russia and its Russian-speaking neighbors.
And when propaganda-campaigns fail to stop other countries from developing their own energy-sources, Russia will invade...
In Soviet Washington the swamp drains you.
You can "categorically state" it, but it may still be the truth. Matt Damon didn't know either...
Russia does not advertise such help, of course. It helps your kind remain sincere and your words — plausible. USSR — through that fun and Earth-friendly agency named KGB — penetrated various churches and "peace" forums, financed terrorists and saboteurs, the works... Most of those did not, of course, realize, where the help they were getting originates...
Today FBI warns us about Cuban intelligence targeting academics (they don't have to name Russia by name here):
Of course, the fools used by such foreigners don't realize, they are exploited — few are bona-fide traitors...
In Soviet Washington the swamp drains you.
Well, ~70% of the average European price is a fraction, that is true. But not a small one. And justified due to generally lower gas prices on the global market.
In fact, it might even result in a net profit - leaving the notoriously not paying Ukraine out of the loop might be cheaper in long term.
"It's such a fine line between stupid and clever" -- David St. Hubbins, Spinal Tap
"This belief that Russia is fueling the protests, shared by officials in Lithuania, where Chevron also ran into a wave of unusually fervent protests and then decided to pull out, has not yet been backed up by any clear proof"
..
In other words, you're pulling this shit out of your ass
Fracking enables countries to be independent of Russia's primary tool and revenue source, natural gas. They're not the only ones; the Saudis, the Iranians, all of them are struggling with low oil prices which comes directly from fracking.
http://www.forbes.com/sites/kenrapoza/2014/10/09/declining-oil-hurting-putins-economy-more-than-u-s-sanctions/
""The idea we're puppets of Putin is so preposterous that you have to wonder what they're smoking over at Nato HQ," says Greenpeace, which has a history of antagonism with the Russian government,..."
Of course not. Greenpeace is full of idiots and Putin is no fool. Why pay you when you're conveniently fighting against a major issue for Russia anyways? He's funding the NGOs in local countries to protest governments, who are the ones that can change government opinion. Greenpeace is pointless, powerless, and vastly overestimates their impact on the world.
Cool story - but a bit of a plot hole with the "Clean Air Act" and so on which will lose you any older readers or anyone with a loose grasp on recent history.
It could sell though, people didn't think it was too ridiculous for CERN to create a black hole to kill the Pope, so your ridiculous idea may get some traction as an airport novel.
Yes the new prices will be interesting.
Putin Kills "South Stream" Pipeline, Will Build New Massive Pipeline To Turkey Instead (12/01/2014)
http://www.zerohedge.com/news/...
"massive gas pipeline that will travel from Russia, transit through Turkey, and stop at the Greek border – giving Russia access to the Southern European market. In effect, Russia will still have access to the Southern Stream endmarkets"
Domestic spying is now "Benign Information Gathering"
Would you please point to a study that states that fracking wells have a higher incidence of water contamination than normal classic oil or gas wells? Traditionally Romanian gas exploration has used hydraulic fracturing. The only difference is that we are now drilling deeper, as well as horizontally and we can exploit more from an existing deposit. To give you an idea: right now, out of all the electricity produced in Romania, only 39% is carbon producing (coal, heating oil, gas), the rest is non carbon producing (hydro, wind, nuclear, photovoltaic, biomass). You can see the real-time information on http://www.transelectrica.ro/w... . You an also see historical values http://www.transelectrica.ro/w... .
Romania has gone through a complete overhaul of it's energy sources in the past 20 years. We have an installed capacity of 23GW with a power usage between 4GW (low point in summer) and 9GW (max point in winter). In the past 10 years we've added 2,5GW of wind turbines (completely absent until then), and 1GW of photovoltaic. Since we still need gas (for now) and have ample reserves, why should we import from our "old adversary" instead of using our own?
UNIX was not designed to stop you from doing stupid things, because that would also stop you from doing clever ones.
""massive gas pipeline that will travel from Russia, transit through Turkey, and stop at the Greek border â" giving Russia access to the Southern European market. In effect, Russia will still have access to the Southern Stream endmarkets""
Which ironically means that it's piped into Europe proper by third parties, which is all the European Union was asking for in the first place because the EU doesn't like the same company to control both supplies and pipelines.
Or in other words, Russia's new project is an embarrassing climb down for Putin dressed up as something completely different. He's basically just doing what the EU asked with a slight diversion to maintain control of the whole thing as far as he can (i.e. through Turkey, a non-EU state).
Except that Gazprom wasn't controlling the pipelines on their own, the distribution network was owned by the South Steam AG, which was a joint venture between Gazprom, Eni and EDF. EU tried to stall the project anyway - without real arguments, just for some political grandstanding - and this is the result.
It is much more embarrassing for the EU because Bulgaria won't see a cent of the carriage fees now. It is especially painful because Bulgaria is the poorest EU country and desperately needs money.
"It's such a fine line between stupid and clever" -- David St. Hubbins, Spinal Tap
Some guy at the NATO says that. Without any proof or even evidence. Is this an attempt to discredit anti-fracking movements? Or Russia?
"The more prohibitions there are, The poorer the people will be" -- Lao Tse
Why is it embarassing for the EU at all? it was embarassing that the EU was sending so much money to a country desperate to rip it to pieces in the first place, the fact that Bulgaria loses out and has to find money from elsewhere is small fry compared to the massive benefit of Europe finally starting to ween itself off of Russian gas which gave Putin a stranglehold over vast areas of European politics. Europe gets to be independent again, Gazprom, a de-facto Russian state owned organisation doesn't get to control the gas and pipeline.
It could've been a problem for the EU if it meant energy prices had gone up, but the massive decline of oil prices, the subsequent decline of gas prices means that that one single major disadvantage has been more than wiped out.
It's not Europe that's seeing $100bn wiped off of it's economy by falling gas and oil prices. Turning Putin away on this one and getting what they wanted anyway because Russia is so desperate for income was just icing on the cake.
What benefit? Russian gas was very reliable and inexpensive. Even during the height of the cold war the gas was supplied as promised. And now, thanks to the hubris of some stupid politicians we'll probably have to import the way too expensive LNG from USA. That will lead to a recession. In fact, thanks to the sanctions Germany has already only narrowly avoided it, but it still can happen next year. Trade is what keeps peace, but apparently, it is now too long ago since the last war, several EU chickenhawks are eager for a new one so they've started an economic war already.
Russia may need the income, but their debt is miniscule compared to every single first world country and their people are accustomed to bad times. After the hell of the 90ies nothing would scare Russians, they can wait it out for a while.
"It's such a fine line between stupid and clever" -- David St. Hubbins, Spinal Tap
"What benefit? Russian gas was very reliable and inexpensive."
Reliable compared to what? inexpensive for whom?
I can only guess you've been paying no attention to world affairs because Russian gas was only reliable if you did what Putin wanted. Did you miss the whole gas cutoffs to Ukraine and parts of Europe the last time Ukraine tried to pave it's own destiny? Did you not see the prices Russia was demanding of Ukraine the second time Ukraine tried to pave it's own destiny?
Yes Russian gas is inexpensive and reliable if you do what Putin wants and that's exactly what abusers do. Just like the guy who gives some whore cheap drugs to fulfil her addiction whilst she gives him blowjobs and cuts off the supply when she decides she wants to try and get a better life for herself. Europe shouldn't have to be Putin's whore when there are better alternatives available.
"And now, thanks to the hubris of some stupid politicians we'll probably have to import the way too expensive LNG from USA."
Have you not been paying attention to prices over the last week or so? Have you missed the news in recent years about an increasing tendency towards renewables? Have you missed the growth of fracking in Europe? All these things mean that whatever happens Europe is going to be paying less for energy over the next decade than it has to Russia over the last decade.
"That will lead to a recession. In fact, thanks to the sanctions Germany has already only narrowly avoided it, but it still can happen next year."
Nonsense. The UK is now well out of recession and equally has a sizeable export market to Russia that has now been destroyed. Europe's been in and out of recession for many years since well before this occurred. Europe's economic woes have nothing to do with Russian sanctions - the fact the UK economy is doing so well when it took such a different economic path that it was heavily criticised for is evidence of that. The impact of sanctions is negligible compared to the structural economic flaws of many major European nations like France and Germany. France is too busy propping up a failed economic model with government subsidies rather than modernising and Germany is still intent on competing in manufacturing with China whilst trying to maintain 1st world living and working conditions making it economically uncompetitive to do so. If the sanctions were the cause then given the massive financial focus of the sanctions the UK wouldn't be looking at 3% growth this year when finance is one of the UK's most important industries.
"Trade is what keeps peace, but apparently, it is now too long ago since the last war, several EU chickenhawks are eager for a new one so they've started an economic war already."
Wait what? Ukraine and Georgia were major trading partners of Russia. Russia still opted to invade them both. Trade is only a stabilising factor if you're dealing with countries that have grown out of childish imperialist tendencies, something Russia still has a major problem with. You seem to have completely forgotten how this whole thing started, it's like your memory of the situation only goes back about a month. Europe has spent the last 20 years trying the whole trade based approach to improving relations between Europe and Russia. It clearly has not worked.
"Russia may need the income, but their debt is miniscule compared to every single first world country and their people are accustomed to bad times."
Countries set a budget, how much they intend to spend based on how much they make. Putin set a budget recently that requires around $150bn more than his country is likely to make in the next year. It doesn't really matter how small his debt is, when he's got a spending plan so utterly out of whack with the amount his country is going to earn through falling fuel prices and sanctions then any advantage they have now will be irrelevant within 12 to 24 months because it will have been more than wiped out - especially as the cost of borrowing for them was high because of the
Citations needed. With WikiLeaks and Snoweden out there, you should have no problem coming up with 10 counter-examples for each example listed in Mitrochin Archive. Start with assassins...
But I was not even that outraged with USSR/Russia themselves — my anger is with the domestic fools ("useful idiots" as the USSR/Russia affectionately refer to them) — who do their utmost to sabotage their own countries, not realizing, the only beneficiaries of their efforts are foreign enemies.
Everybody wants to influence others to see his point of view — that's natural. But your attempts to equate US with USSR (and today's Russia) fail the second your audience recalls, that our ideology is demonstrably superior to theirs. We may not be the "best" possible, but we are much better. It is therefor Ok to promote our ideology, while anybody promoting Communism — if only by wearing a Che Guevara T-shirt in public — belongs on a lamp-post...
In Soviet Washington the swamp drains you.
profits do not matter what others sell at. Profits are revenue - costs. Russia has some pretty high costs getting oil from Siberia. As such, selling nat gas at 70% is pretty close to selling at COSTS.
I prefer the "u" in honour as it seems to be missing these days.
Sorry, but LNG from America will be about the same price as Nat gas from Russia.
However, the SMART thing is to convert your coal into methane. In America, it costs us less than $7/MMBTU to dig up coal and convert it. It should be less than that if done in eastern europe. And with Russia charging you $10-15/MMBTU, this would be quite the savings. Interestingly, it would also be cleaner.
BUT, I agree with your last bit there. I am not convinced that sanctions on Russia will work the way that they would be expected. Basically, Russian citizens will blame the west for their hardships for longer than putin is in office.
I prefer the "u" in honour as it seems to be missing these days.
The Russians look at the U.S. through their cultural lens and quickly realize that they can manipulate the ideologues easily to their benefit. FSB and Bratva stooges are extremely active on U.S. comment boards, they are very easy to spot, even easier than the OFA trolls who cut and paste the exact same text on every story, with the marching orders changing every 2,3 days.
The question we should be asking ourselves if how we, as an allegedly educated society, have managed to raise so many extremely gullible individuals (the useless idiots you refer to)? Is it the Internet? The education system? Too much free time? The astounding bold faced lies you see repeated by so many supposedly educated folks is downright alarming. There's a new attitude - "I know it's a lie, but I knowingly tell it over and over" - and a new stubbornness "Yes, I repeated a lie a thousand times over in the past, but I will never, ever admit it. Today's lie is ____________!! And if you don't repeat this lie you are a racist, homophobic, terrorist whatever. I've lost friends over this.
Maybe the population of useful idiots hasn't changed, it's just that now they have a voice. And it's the useful idiots who love the sound of their own voice. I hope so...
Murphy was an optimist
It would be a mistake to assume, the problem is unique to our period in history. USSR was conducting its covert propaganda campaigns decades before, and they weren't the first to invent such methods either.
For example, compare the world's reaction to American invasion of Korea — to prevent Communists from taking over the country — with the same sort of thing in Vietnam a few years later... The motivation was the same, the methods were the same, the goals were the same — what little differences existed, they were immaterial.
And yet, the Vietnam war was denounced by so many, it remains a "black" page of American history, wheres Korean war is, generally, acceptable... Characters of "M.A.S.H." maybe skeptical of the events around them, but nobody claims, the US was evil to do, what it did — in stark contrast to anything having to do with Vietnam. What gives? By the time of Vietnam war, USSR had enough influence to begin working-up the outrage...
It is no secret, that to change public opinion on a matter, it is best to start in schools (if you have time). Leftists have taken to that in spades — having a government job naturally appeals to Illiberals... They certainly are entrenched in the education system now, but that's a consequence of Russia's help for (and guidance of) anti-Americans world-wide — not the reason.
Today the same contrasts — and the double-standards — continue. When the US invaded Iraq in 2003, the world's streets exploded in outrage. When Russia invaded Ukraine in 2014, the reaction on the street — both in the US and in Europe — is notable by its absence. Are some invasions better than others? Or is it simply that some invaders have a world-wide network of influence over the loudest mouths most likely to riot, while others do not?
They always had a voice. Internet is just another medium for it...
In Soviet Washington the swamp drains you.
We're in agreement. The only thing that's changed is the velocity at which the propaganda spreads, and the transition from Sarnoff's law to Metcalf's. Somewhere between the journolist and the creation of the OFA Facebook Action apps by Chris North we've gone to a lie spreading machine that runs at an astoundingly efficient speed - like nothing the world has ever seen.
It's funny. You can give people the most liberal education on earth. But the one's that actually make something of themselves, they all turn in to conservatives by the time they turn 30. As a business owner I have yet to meet a far left progressive business owner. Oh yeah, some of them talk the talk to the outside world. But behind closed doors one discovers it's all an act... for money's sake.
But I have hope. Progressives always box themselves into corners they can't get out of.
During the Bush years they perfected the art of red meat slathering abuse - and used it very successfully. Bush wasn't just "misguided" or "wrong on policy" he was a satanic, baby eating, not even human! And it worked, it got Obama elected. But then what? Your base is all fired up, and to keep it fired up you have no choice but to pile red meat on top of red meat, emotional rhetoric on top of rhetoric. So pretty soon, if you opposed raising taxes on cigarets by one penny you were a TERRORIST! After a while, people who aren't ideological loons just don't get all upset any more. Yeah, yeah, I'm a racist, xenophobic ignorant hayseed pig, what ever, do you have anything NEW to say? The only thing that's still working is "Hey, tonight there's gonna be a race riot and you might get free stuff" and the usual causes that a small number of people are dedicated to no matter what, because protest is a social club where they all get drunk and stoned and shout rage at "the man". Or they get paid to protest...
It's the same with social justice. Eventually you run out of money, and the problems don't get better. You attract all kinds of outsiders who come to live in your country to get free stuff. Sooner or later the moneyed class realizes you're on a path to failure and stops contributing, and the wealthy you taxed to pay for the social programs leave and go elsewhere. This is exactly what's happening in quite a few European countries right now, and big surprise they are all trending to the right.
It's the same with buying blocks of votes. The liberals in America performed a miracle - they went from the party of Jim Crow & KKK to the party of the 100% assured black vote. And it worked, for a while. But they finally got their way - we got a black (well, 1/2 black) president. And, as we all know, the blacks didn't get squat. In fact, they are much worse off! Fanning the flames of racism for all they are worth... and blacks voted for Republicans in the midterms. Not all of them... but a surprising number. And the more they promise to the Hispanics - after years of making promises they couldn't possibly keep - the more they anger the blacks. Who haven't they screwed since Obama got elected? Who haven't they made absurd promises too and failed to deliver?
Just like you can't call your opposition a terrorist every day for five years and have any believability, you can't promise a group of people the sun, the sky, and the moon and not deliver anything, anything at all. And the current crop of progressives in the U.S. - this is exactly what they have done.
Same story with Obamacare: "We're going to insure EVERYONE! And it will be FREE! And prices, they are going to go DOWN!" Well, big surprise, that was a fantasy....
So I have hope that although the die hard left wing "The Narrative" parrots will never stop reciting their mantras mindlessly. But the rest of us who were fooled, are waking up.... BTW I could bitch and complain all day about the right wing too. But they aren't the ones who have been in power the last six years, are they?
Murphy was an optimist
Russia may need the income, but their debt is miniscule compared to every single first world country
Their public debt is, yes.
Their private debt is not. This includes several of the major banks, which the govt now has to bail out because they cannot service their outstanding debts in the face of the sanctions.
Yeah, but we need the money from anything we can dig up - we can't export bread, we can export gas and fuels, here is to hoping the Black sea clathrates make a big bang in a good way - bread and water a civilization doesn't make. A fellow Bulgarian.
I know tobacco is bad for you, so I smoke weed with crack.