A global recession is on the horizon - please read OP for mod warning

Bonds are getting totally wrecked now as they entered a bear market for the first time in a generation, European bonds are the hardest hit down 40% YTD. Will be interesting to see what happens when expiring bonds are due and no one wants to buy them again at current rates, that is going to be the problem, having to settle them.

Have the G7 not already banned Russian oil? Apart from the EU?

Can't see Vlad agreeing to any price cap, he'd quicker turn the taps off completely?

Considering the EU will be banning his oil by next year anyway. Unless im missing some nuances that makes the G7 actions relevant? Which is very possible.

Russia have said they wont supply oil to anyone engaging in the price cap on Russian oil - whether they can actually do that without crashing their economy is another story.

We could yet see big spikes in oil prices

Yes and I see in plain English they have banned crude oil as well as stopped North Stream 2. Remove those restrictions and the EU will be in a better place.

increasing public borrowing is the only way out of our problems, the over reliance on private borrowing in running our economies has failed!

That is true i said that. However some things are not sold in huge volume so do not bring in a lot of income. In some cases rare materials can be quite cheap to buy and some are very expensive also, but there is not a big global demand for them. But for the industries who do rely on them it is very important.

Shortages of some materials could shut down whole industries, not just the metal itself but the alloys of those materials can't get replaced quickly. If it can't get replaced production grinds to a halt, just one little part.

• And what exactly is " energy industry equipment, technology and services " Maybe something like a turbine or six ?

So send it to Russia along with paperwork saying there are no sanctions on maintenance of energy parts and transportation, easy.

Blackmail !!!!!!!!

We hit Russia with everything we have and they reduced our gas in return.Now they will not accept our billions we want to spend with them so they can buy more missiles and bullets to kill people with.

We are going to turn the currency to rubble, we are going to wreck it's economy. Have you heard how ridiculous it sounds, what did they expect, nothing ?

Europe have been told by everyone there is no substitute for Russian energy, it cannot be replaced. So either pay the price and accept what is given or stop buying it altogether and buy from somewhere else.

Well launch some more boomerangs then.

How about Estonia with 25% inflation.

I have an idea let's stop all Russian people coming into out country, all 1.8 million of them who spend money each year in out hotels, museums and bars. What the **** is that going to do ?

Lets stop buying Russian gold. UK bought 90% of Russian gold in Europe and stopped buying it in March, what is it going to do ? There is a thing called the Shanghai gold exchange and people who buy gold will not care where it comes from.

This is the spirit, just stop buying it.