Putin's deal brings peace to the East, pain for the West
Jim Armitage is the City editor of The Independent and London Evening Standard group of newspapers. He has been a reporter and editor for more than 20 years and was recently shortlisted for the Press Gazette financial journalist of the year and The Society of Editors financial journalist of the year awards. He contributes news, investigative reports and comment to the Independent titles plus a daily column in the Evening Standard.
Thursday 22 May 2014
Outlook President Vladimir Putin's ability to outfox never ends. Just as we in the EU scurry about seeking alternatives to Russian gas in a vain attempt to weaken his political muscle, he stitches up a deal to supply China with an almost identical amount that he sends our way. So, for every euro of foreign currency he loses from us, he'll gain the equivalent in yuan. No problem.
It's not all bad news, though: while his pivot to the East could increase Mr Putin's belligerence with Europe, it could make for more peaceful times in Asia. Energy-hungry China may not need stand-offs like the current spat with Vietnam over Beijing's placing of an oil rig in disputed waters there. But, away from the global politics of the thing, for businesses and consumers in the EU, the arrival of a major competitor for Russia's gas only means one thing: higher prices.
- 1 Lucy Hawking: Stephen Hawking's daughter writes impassioned open letter to Katie Hopkins about rights of disabled people
- 2 #NotGuilty: Second Oxford student writes of brutal rape by two men who then threw her in a bin as part of campaign against victim blaming
- 3 How the language you speak changes your view of the world
- 4 Russell Brand backs Ed Miliband: 'You gotta vote Labour'
- 5 Uploading pictures to find out how old you are gives Microsoft the right to post them wherever they want
Lucy Hawking: Stephen Hawking's daughter writes impassioned open letter to Katie Hopkins about rights of disabled people
Indonesia executions: Death row British grandmother Lindsay Sandiford will refuse to wear a blindfold when she faces firing squad
Oxygen-starved 'dead zones' with no marine life up to 100-miles long discovered in the Atlantic Ocean
Russian warships accused of 'chasing away' Swedish vessel to prevent Baltic States from achieving energy independence
How the language you speak changes your view of the world
Over 50,000 families shipped out of London boroughs in the past three years due to welfare cuts and soaring rents
EU asylum policy is 'a direct threat to our civilisation', says Nigel Farage
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: SNP and its activists 'openly racist' towards the English, Farage says
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
iJobs Money & Business
£16000 - £18500 per annum: Recruitment Genius: This is an excellent opportunit...
£24000 - £28000 per annum: Recruitment Genius: A Senior SEO Executive is requi...
£16000 - £18000 per annum: Recruitment Genius: An Online customer Service Admi...
£18000 - £22000 per annum: Recruitment Genius: This global, industry leading, ...