Moodys considers US sanctions a “constant threat” to Russia
MOSCOW – New US sanctions will not affect Russia’s public finances in the near future, but in the long run they will put pressure on Russian investment and access to technology, RBC reports citing data from Moody’s rating agency.
Although the new sanctions will not affect the credit worthiness of the Russian government in the short term, their long-term consequences will be more serious, writes the rating agency Moody’s Investors Service in a report to investors. “The ambitions of Russian President Vladimir Putin to increase growth and quality of life will be more difficult to realize with new US sanctions,” says Moody’s. Moodys UnitState Sanctions Russia
New sanctions do not cut Russia off from international capital markets, but limit the ability to attract financing. Domestic investment and foreign investment in Russia is likely to “remain significantly lower than if there were no sanctions.”
Sanctions may also limit Russia’s access to Western expertise and financing, which are necessary to modernize the Russian economy, Moody’s said. In addition, the suddenness of the announcement of new sanctions reflects their “continuous and unpredictable nature.” Moodys UnitState Sanctions Russia
US sanctions have become a constant threat looming over Russia’s credit profile, the agency points out, although Russia currently remains stable against current and future sanctions.
New sanctions prohibit the participation of US banks in the initial offerings of bonds of the Russian government in foreign currency, as well as foreign currency lending by US government banks and the Central Bank. Banks are interpreted broadly and include brokers and securities dealers, commodity futures and options dealers, currency traders, clearing companies, investment companies, corporate social programs (i.e. non-state pension funds), holding companies. Moodys UnitState Sanctions Russia
But the sanctions have not yet affected the secondary market of Russian government securities and the market of ruble OFZs.
The plan to attract external loans from the market for 2019 has already been overfulfilled, and very moderate borrowings in the amount of USD3 billion annually are planned for 2020–2021. Moodys UnitState Sanctions Russia
Moreover, Russia has an abundance of liquid reserves, which in principle make it possible to do without issuing international bonds. Government funds in accounts at the Central Bank reached 10.4 trillion rubles. in mid-2019 – 9.5% of expected GDP for 2019.
The external debt of the government and the Bank of Russia in dollars to non-residents amounted to USD18.7 billion at the end of 2018, which is significantly less than the figure at the end of 2013 (USD30.8 billion), Moody’s notes.
“In this context, US sanctions are likely to entail a further reduction in Russia’s dollar issues,” the agency writes.Moodys UnitState Sanctions Russia
Even if American investors no longer participate in Russian government securities, Moody’s expects that Russia will still be able to attract funding in euros and other reserve currencies from non-US investors.
It was previously reported that the GDP growth of the Russian Federation in June accelerated to 0.7% in annual terms from a revised 0.1% in May (a correction of the estimate from 0.2% occurred after Rosstat revised the operational data for certain sectors). Moodys UnitState Sanctions Russia
New US sanctions will not affect Russia’s public finances in the near future, but in the long run they will put pressure on Russian investment and access to technology, RBC reports citing data from Moody’s rating agency.
Although the new sanctions will not affect the credit worthiness of the Russian government in the short term, their long-term consequences will be more serious, writes the rating agency Moody’s Investors Service in a report to investors. “The ambitions of Russian President Vladimir Putin to increase growth and quality of life will be more difficult to realize with new US sanctions,” says Moody’s.
North American prices for solid polystyrene, polypropylene and PET bottle resins each increased during July, mainly as a result of higher feedstock prices.
In the other direction, regional polyethylene resin buyers who didn’t see a price drop in June saw one in July instead.
Solid PS prices saw the largest increase, moving up by an average of 2 cents per pound. That move was tied to a 14 percent price hike for benzene, which is used to make styrene monomer. Benzene prices for July were up 33 cents to $2.67 per gallon.
Regional PS prices had been flat in May and June after moving up 4 cents in April. Domestic PS demand showed growth of around 1 percent in the first half of 2019, market watchers told Plastics News, with gains in consumer products and electrical/electronic applications.
What are sustainable initiatives currently practiced throughout your supply-chain?
We start by sourcing fabrics from suppliers that are using organic materials and non-toxic dyes to ensure no harmful chemicals are being used. The main fabrics we choose for the collection are naturally renewable fibers like wool, cotton, cupro, and other plant-based fibers that are processed in a closed-loop environment, and powered by renewable energy. When selecting synthetic fibers like polyester, we work with mills that are using 100% recycled materials and/or PET bottles to keep petroleum-based plastics out of landfills and oceans. Recycled polyester uses up to 75% less Carbon emissions than new polyester fiber. Petrochemicals Biodegradable Bioeconomy
This 2019 photo shows an Installation view of “Nature—Cooper Hewitt Design Triennial” in New York. The exhibit of cutting edge innovations at the Cooper Hewitt, Smithsonian Design Museum, on view through January 20, 2020, includes this dress made by a Japanese design team, featuring transgenic glowing silk made from silkworms injected with a green fluorescent protein derived from jellyfish. (Matt Flynn/Cooper Hewitt, Smithsonian Design Museum via AP)
Whether it’s how they’re made or what they’re made of, textiles are evolving to meet consumer demand for sustainability.
“There’s a real push for sustainability now, and the home textiles industry is waking up to that consumer call,” says Shannon Maher, chair of Home Products Development at the Fashion Institute of Technology, in New York. Petrochemicals Biodegradable Bioeconomy
Researchers at Sungkyunkwan University (SKKU) in Korea have developed artificial skin tactile sensors that can feel the similar pressure and vibration felt by human skin.
The team, led by Senior Researcher Changsoon Choi at DGIST Department of Smart Textile Convergence Research and Dr. Sungwoo Chun at Sungkyunkwan University (SKKU), developed a new-concept artificial skin-based sensor that detects both pressure and vibration at the same time and effectively measures texture.
Why microfibers are the new microbeads. Microfibers are a disproportionately large problem for such tiny strands of fabric.
Microfiber towels may feel like they are made from cloth but are made from plastic.
Natural gas is used to create plastics that are spun into fibers. These fibers are weaved into a cloth that is great for doing things like picking up dust or dirt. Sometimes, these are made from recycled plastics, but other times are made from totally virgin materials.
Why might microfibers be an issue for the environment
Every time we wash a piece of clothing made from synthetic fibers, such as polyester, nylon or acrylic, a wave of microplastic – so small you can barely see them – is unleashed into the water supply. Petrochemicals Biodegradable Bioeconomy
The honest answer is, we don’t know, as it strongly depends on the share between the ETS and the non-ETS reduction targets. However, assuming that the share between ETS and non-ETS targets remains unchanged from the current 2030 set-up, the EU ETS reduction target would have to increase from currently 43% compared to 2005 levels to between 52% and 57% in order to match the latest announcements by Commission President-elect Ursula von der Leyen.
An important question remains on the likelihood and the timing of the target change decision as this will have significant implications for the cap trajectory and could lead to a sharp decline of allowances available in the second half of TP4.
The Jerusalem Municipality is now working with the company GreenNet, the largest waste-sorting plant in the Middle East and one of the largest in the world.
Every day, 2,000 tons of waste are automatically sorted at GreenNet’s Atarot factory, where cutting-edge technology separates paper, metals, nonmetals, organic waste and five kinds of plastics without direct contact from sanitation workers.
Post-consumer bottle prices need to be cut more substantially, most recyclers complain
PET recyclers in Germany are under serious pressure at the moment. Further declines in primary PET prices and price indices for flakes are making business difficult. In July, primary PET prices fell to around €900 per tonne and thus lower than the price of flakes. Since the purchase prices for post-consumer bottles did not drop as sharply as the sales prices of flakes, recyclers took a loss in some cases. Petrochemicals Biodegradable Bioeconomy
Low carbon fuel company Gevo has successfully completed the first phase of a trial pilot of fleet vehicles using its low carbon, renewable drop-in isobutanol blended gasoline.
The trial, which took place in the City of Seattle in in the US, saw a reduction in greenhouse gas (GHG) emissions from its fleet of vehicles equal to 18 metric tons. The use of the low carbon fuel had no adverse effects on the vehicles. Petrochemicals Biodegradable Bioeconomy