Michal Lerner The name Petrodollar is used to designate dollars that are used to buy oil. So if country X buys 1 million barrels of oil at $70 dollars per barrel from an oil exporter and pays for that oil in dollars, then an account at some US bank will be marked up by £70 … Continue reading Venezuelan oil, Sanctions and Petrodollars
Sanctions
The Power of the European Commission
Ukraine and supply of Russian gas to Europe - part five. How the European Commission came to assume power over Europe’s foreign policy Eamon Dyas On 17 June 2025, The Guardian reported that the European Commission had unveiled plans to ban all gas imports from Russia by January 2028. The plans represent an unprecedented expansion … Continue reading The Power of the European Commission
Will Trump force Iran to give up its nuclear programme?
David Morrison Letter to The Times by Sir Simon Cass, former British ambassador to Iran and former head of the UK team negotiating the JCPoA Sir, Binyamin Netanyahu is anxious to persuade us that Iran was on the cusp of possessing a nuclear weapon. Leaving on one side the accuracy of that assertion, it is … Continue reading Will Trump force Iran to give up its nuclear programme?
The United States policy towards Europe’s energy needs
Part One — an early experience Eamon Dyas The way in which Europe is currently committing a slow economic suicide in the wake of what is effectively a US geopolitical exercise in Ukraine stands in marked contrast with what happened in 1981-82. The more robust stance adopted by Europe at that time promised the possibility of an independent Europe … Continue reading The United States policy towards Europe’s energy needs
An End to Oligarchs?
John ClaydenThere is a recent very worthwhile edition of The Duran with Michael Hudson, Alexander Mercouris and Glen Diesen which discusses the likely prospects of economic change in the West in favour of the working class. It concludes that it will be only possible if there is a revolution here in favour of the East http://Youtu.be/OFrxgMFbN8c?si=siHnoaak8bi-12MyThis is their … Continue reading An End to Oligarchs?
Sahra Wagenknecht Newsletter
In her newsletters Sahra introduces TV or press items where she is interviewed and speeches she makes in Parliament. Also brief statements of policy. 21March While calls for negotiations to end the war in Ukraine are getting louder and louder in the USA, while Washington is obviously no longer prepared to burn American taxpayers' money in … Continue reading Sahra Wagenknecht Newsletter
What You Should Know about Labour’s Economic Policy.
The Labour Party wholeheartedly supports the war on Russia in Ukraine and sanctions against the import of cheap energy from Russia. UK support for sanctions is the main driver of domestic inflation in Britain as energy is an input into all products and services. Labour is not committed to any significant revenue raising measures by … Continue reading What You Should Know about Labour’s Economic Policy.
On Strikes and Wars — Editorial 2
Can British trade unions defend their members’ standard of living without taking a position on the war in Ukraine? The standard of living of the British working class has fallen because NATO is engaged in a war against Russia using Ukraine as its proxy army. Do British trade unions support this NATO war against Russia? If so, should … Continue reading On Strikes and Wars — Editorial 2
Freezing for Zelensky
Editorial 2 Boris Johnson told the British public on 24th August that they must make significant sacrifices of their living standards to protect the freedom of the Ukrainian people. If this means high fuel bills, freezing or going hungry then so be it. Labour Affairs and others have already exposed the lies that underpin this rhetoric and we … Continue reading Freezing for Zelensky
Labour Affairs 