💩 INTERNATIONAL NEWS | 🇷🇺 #RUSSIA Declares #Force_Majeure
🛢️ 🛢️ 🛢️ #Lukoil — Russia’s biggest private oil company — has just declared force majeure at one of Iraq’s largest oilfields, West Qurna-2, which pumps nearly half a million barrels a day.
💼 That legal term means the company is unable to operate because of factors beyond its control — in this case, Western sanctions that froze cash payments and cancelled cargoes.
This move could spell disaster for Lukoil’s global business: #Iraq’s oil ministry may seize its stake, while countries across Europe are already taking over or shutting down its refineries and retail networks.
In this video, I break down:
What “force majeure” actually means and why Lukoil had to declare it.
The impact on Iraq’s West Qurna-2 field and how Baghdad may respond.
The cascade of asset seizures and shutdowns in Bulgaria, Finland, Moldova, Turkey, and Romania.
Lukoil’s collapsing profits and whether this could push Russia’s oil giant toward bankruptcy.
What this means for the wider Russian economy and Moscow’s energy leverage.
📛 DISCLAIMER: We Cover the 'Way' the #News is #COVERED_UP! 👿
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