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On September 17, local time, Ukrainian President Volodymyr Zelensky signed a presidential decree appointing Anton Kovalsky as acting Prosecutor General. The decree has been published on the website of the Ukrainian Presidential Palace. On September 14, Zelensky signed a presidential decree dismissing Kravchenko from his post as Prosecutor General. Previously, the Ukrainian National Anti-Corruption Service had launched an investigation into Kravchenko, and Kravchenko was implicated in related cases. Kovalsky will serve as the head of the Khmelnytskyi Regional Prosecutors Office from July 1, 2025.On September 17th, Kimi, the Dark Side of the Moon, announced the release of its financial industry solutions. According to the announcement, all users can install and experience nine financial skills and over 10 data source plugins at kimi.com. Professionals and developers can install and access data source plugins and financial skills through the Kimi Work desktop client and Kimi Code. Additionally, there is the Kimi Hosted Agents service for enterprises.On September 17th, ING stated that as India moves up the value chain into service sectors that are harder to automate, there are few signs that its outsourcing industry is being replaced by artificial intelligence. Economist Deepali Bhargava wrote that software services exports as a percentage of GDP have risen from 3.3% before the pandemic to approximately 5.2%. During the same period, business services, including finance, accounting, engineering, research, and analytics, more than doubled their share of GDP to 3.3%. This performance challenges concerns that generative AI could weaken one of Indias most important industries by automating traditional outsourcing work. According to ING data, India accounts for more than half of the global outsourcing industry, earning approximately $205 billion annually from software services exports and supporting about 5.8 million workers. Software and business services exports combined account for about 8.5% of GDP and are a significant source of foreign exchange.Nokia: Expanding its partnership with Microsoft to accelerate network automation and build a unified data foundation.On September 17, the Shanghai Stock Exchanges bond project information platform showed that Chongqing Longfor Enterprise Development Co., Ltd. plans to publicly issue corporate bonds to professional investors, with a proposed issuance amount of 2.73 billion yuan. The project has been accepted.

Ukraine Will Block A Crucial Russian Gas Transit to Europe, Blaming Russia

Charlie Brooks

May 11, 2022 09:46

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Ukraine said on Tuesday that it will cease the flow of gas via a transit point that, according to Kiev, sends over one-third of the fuel piped from Russia to Europe through Ukraine. Kiev blamed Moscow for the action and said it would redirect the flows elsewhere.


Even after Moscow's invasion, Ukraine has remained a significant transit route for Russian gas to Europe.


The operator of Ukraine's gas infrastructure, GTSOU, has declared "force majeure" and will cease shipments through the Sokhranivka route as of Wednesday. "Force majeure" is a provision triggered when a firm is affected by circumstances beyond its control.


However, Gazprom (MCX:GAZP), which has a monopoly on Russian gas pipeline exports, said that it was "technologically impossible" to move all volumes to the Sudzha connecting point farther to the west, as GTSOU requested.


GTSOU CEO Sergiy Makogon told Reuters that Russian occupation troops have begun transporting gas flowing through Ukraine to two rebel territories supported by Russia in the country's east. He failed to provide proof.


The company stated that it was unable to operate at the Novopskov gas compressor station due to "the interference of the occupying forces in technical processes," adding that it could temporarily redirect the affected flow to the Sudzha physical interconnection point, which is located on Ukrainian territory.


Ukraine's suspension of Russian natural gas shipments via the Sokhranivka route should have no effect on the local Ukrainian market, according to Yuriy Vitrenko, the president of the state-owned energy business Naftogaz.


The national gas company of Moldova, a tiny country on Ukraine's western border, said that neither GTSOU nor Gazprom had notified them of a supply interruption.


Russian army and separatist militants have controlled the Novopskov compressor station in the Luhansk area of eastern Ukraine since shortly after Moscow launched a "special military operation" in February.


GTSOU said that it is the first compressor in the Ukraine gas transit system in the Luhansk area, the transit route for about 32,6 million cubic metres of gas per day, or a third of the Russian gas transported to Europe through Ukraine.


To fulfill its "transit responsibilities to European partners in full," GTSOU said that it will "temporarily move unavailable capacity" to the Sudzha interconnection point.


Gazprom said it had received information from Ukraine that the nation will cease gas transit to Europe through the Sokhranivka interconnector at 7:00 a.m. on Wednesday local time.


The Russian corporation said that it observed no evidence of force majeure or impediments to business as usual. Gazprom emphasized that it was fulfilling its commitments to European gas purchasers.


As punishment for the invasion of Ukraine, the United States has pushed other nations to reduce their reliance on Russian energy and has prohibited Russian oil and other energy imports.


Ned Price, a spokeswoman for the U.S. State Department, said that Tuesday's declaration does not alter the "as soon as feasible" schedule for reducing global dependency on Russian oil.

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