×
S&P 500   3,822.12 (+0.01%)
DOW   31,052.83 (+0.34%)
QQQ   284.88 (+0.47%)
AAPL   140.50 (+2.23%)
MSFT   261.49 (+1.95%)
META   164.58 (+2.43%)
GOOGL   2,243.29 (+0.14%)
AMZN   110.33 (+2.73%)
TSLA   680.70 (-2.48%)
NVDA   155.36 (-2.79%)
NIO   22.26 (-0.45%)
BABA   116.09 (-0.57%)
AMD   78.06 (-3.37%)
MU   56.29 (-2.71%)
CGC   3.54 (-1.94%)
T   20.64 (+0.15%)
GE   64.45 (-2.17%)
F   11.59 (-1.86%)
DIS   95.47 (-0.47%)
AMC   13.53 (+1.12%)
PFE   51.13 (+0.93%)
PYPL   71.94 (+0.17%)
NFLX   179.32 (-0.16%)
S&P 500   3,822.12 (+0.01%)
DOW   31,052.83 (+0.34%)
QQQ   284.88 (+0.47%)
AAPL   140.50 (+2.23%)
MSFT   261.49 (+1.95%)
META   164.58 (+2.43%)
GOOGL   2,243.29 (+0.14%)
AMZN   110.33 (+2.73%)
TSLA   680.70 (-2.48%)
NVDA   155.36 (-2.79%)
NIO   22.26 (-0.45%)
BABA   116.09 (-0.57%)
AMD   78.06 (-3.37%)
MU   56.29 (-2.71%)
CGC   3.54 (-1.94%)
T   20.64 (+0.15%)
GE   64.45 (-2.17%)
F   11.59 (-1.86%)
DIS   95.47 (-0.47%)
AMC   13.53 (+1.12%)
PFE   51.13 (+0.93%)
PYPL   71.94 (+0.17%)
NFLX   179.32 (-0.16%)
S&P 500   3,822.12 (+0.01%)
DOW   31,052.83 (+0.34%)
QQQ   284.88 (+0.47%)
AAPL   140.50 (+2.23%)
MSFT   261.49 (+1.95%)
META   164.58 (+2.43%)
GOOGL   2,243.29 (+0.14%)
AMZN   110.33 (+2.73%)
TSLA   680.70 (-2.48%)
NVDA   155.36 (-2.79%)
NIO   22.26 (-0.45%)
BABA   116.09 (-0.57%)
AMD   78.06 (-3.37%)
MU   56.29 (-2.71%)
CGC   3.54 (-1.94%)
T   20.64 (+0.15%)
GE   64.45 (-2.17%)
F   11.59 (-1.86%)
DIS   95.47 (-0.47%)
AMC   13.53 (+1.12%)
PFE   51.13 (+0.93%)
PYPL   71.94 (+0.17%)
NFLX   179.32 (-0.16%)
S&P 500   3,822.12 (+0.01%)
DOW   31,052.83 (+0.34%)
QQQ   284.88 (+0.47%)
AAPL   140.50 (+2.23%)
MSFT   261.49 (+1.95%)
META   164.58 (+2.43%)
GOOGL   2,243.29 (+0.14%)
AMZN   110.33 (+2.73%)
TSLA   680.70 (-2.48%)
NVDA   155.36 (-2.79%)
NIO   22.26 (-0.45%)
BABA   116.09 (-0.57%)
AMD   78.06 (-3.37%)
MU   56.29 (-2.71%)
CGC   3.54 (-1.94%)
T   20.64 (+0.15%)
GE   64.45 (-2.17%)
F   11.59 (-1.86%)
DIS   95.47 (-0.47%)
AMC   13.53 (+1.12%)
PFE   51.13 (+0.93%)
PYPL   71.94 (+0.17%)
NFLX   179.32 (-0.16%)

Russia cuts off gas exports to Finland in symbolic move

Saturday, May 21, 2022 | Jari Tanner, Associated Press


Russian President Vladimir Putin addresses a meeting of the leaders of the Collective Security Treaty Organization (CSTO) at the Kremlin in Moscow, Russia, May 16, 2022. Finnish state-owned energy company Gasum is saying that natural gas imports from Russia under its supply contract will be halted on Saturday, May 21 after the Finns had refused to pay in Russian rubles, a demand made by President Vladimir Putin after sanctions were levied against his nation over the invasion of Ukraine. (Alexander Nemenov/Pool Photo via AP, file)

HELSINKI (AP) — Russia halted gas exports to neighboring Finland on Saturday, a highly symbolic move that came just days after the Nordic country announced it wanted to join NATO and marked a likely end to Finland's nearly 50 years of importing natural gas from Russia.

The measure taken by the Russian energy giant Gazprom was in line with an earlier announcement following Helsinki’s refusal to pay for the gas in rubles as Russian President Vladimir Putin has demanded European countries do since Russia invaded Ukraine on Feb. 24.

The Finnish state-owned gas company Gasum said that “natural gas supplies to Finland under Gasum’s supply contract have been cut off” by Russia on Saturday morning at 7 a.m. local time (0400 GMT).

The announcement follows Moscow’s decision to cut off electricity exports to Finland earlier this month and an earlier decision by the Finnish state-controlled oil company Neste to replace imports of Russian crude oil with crude oil from elsewhere.

After decades of energy cooperation that was seen beneficial for both Helsinki — particularly in the case of inexpensive Russian crude oil — and Moscow, Finland’s energy ties with Russia are now all but gone.

Such a break was easier for Finland than it will be for other European Union nations. Natural gas accounts for just some 5% of total energy consumption in Finland, a country of 5.5 million. Almost all of that gas comes from Russia, and is used mainly by industrial and other companies with only an estimated 4,000 households relying on gas heating.

Gasum said it would now supply natural gas to its customers from other sources through the undersea Balticconnector gas pipeline running between Finland and Estonia and connecting the Finnish and Baltic gas grids.

Matti Vanhanen, the former Finnish prime minister and current speaker of Parliament, said the effect of Moscow’s decision to cut off gas after nearly 50 years since the first deliveries from the Soviet Union began is above all symbolic.


In an interview Saturday with the Finnish public broadcaster YLE, Vanhanen said the decision marks an end of “a hugely important period between Finland, the Soviet Union and Russia, not only in energy terms but symbolically.”

“That pipeline is unlikely to ever open again,” Vanhanen told YLE, referring to the two parallel Russia-Finland natural gas pipelines that were launched in 1974.

The first connections from Finland’s power grid to the Soviet transmission system were also constructed in the 1970s, allowing electricity imports to Finland in case additional capacity was needed.

Vanhanen didn’t see Moscow’s gas stoppage as a retaliatory step from Russia to Finland’s bid to join NATO but rather a countermove to Western sanctions imposed on Moscow following its invasion of Ukraine.

“Russia did the same thing with Finland it has done earlier with some other countries to maintain its own credibility,” Vanhanen said, referring to the Kremlin’s demands to buy its gas in rubles.

Finland shares a 1,340-kilometer (830-mile) with Russia, the longest of any of the EU's 27 members, and has a conflict-ridden history with its huge eastern neighbor.

After losing two wars to Soviet Union, in World War II, Finland opted for neutrality with stable and pragmatic political and economic ties with Moscow. Large-scale energy cooperation, also including nuclear power, between the two countries was one of the most visible signs of friendly bilateral ties between former enemies.

___

Follow AP’s coverage of the Ukraine war at: https://apnews.com/hub/russia-ukraine


7 Risk-Off Stocks to Buy as Inflation Remains at Record Levels

Inflation has gone from a transitory problem that would take care of itself to an existential threat that is moving the Federal Reserve to take swift, aggressive action. In January 2022, the Consumer Price Index (CPI) showed inflation in the United States was at its highest level since 1982.

And the market is reacting predictably with what appears to be a shift from risk-on to risk-off assets. This is having a negative effect on many stocks, particularly in the tech sector, that are no longer justifying their extended valuations.

But investors are also seeing a drop in cryptocurrency prices and other speculative assets. This may be a short-term phenomenon, but if you’re an investor looking at how to make money in 2022; it’s time to get a little defensive. But playing defense doesn’t mean accepting mediocre growth. It simply means moving into stocks and sectors that are likely to benefit from high inflation and rising interest rates.

That’s the focus of this special presentation. We invite you to consider these seven risk-off stocks that look like strong candidates to increase in value even as inflation remains high.



View the "7 Risk-Off Stocks to Buy as Inflation Remains at Record Levels".

Free Email Newsletter

Complete the form below to receive the latest headlines and analysts' recommendations for your stocks with our free daily email newsletter:


Most Read This Week

Recent Articles

Search Headlines:

Latest PodcastHow to Profit In The Bear Market

Today, Kate is joined by a repeat guest, Rob Isbitts of Sungarden Investment Publishing. Rob specializes in ETF portfolios designed to deliver returns in any kind of market condition, including the current bear. In this conversation, Rob gives specific ideas for handling various allocations in your portfolio, and discusses how to approach inverse ETFs.

MarketBeat Resources

Premium Research Tools

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Discover All Access

Market Data and Calendars

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

View Market Data

Investing Education and Resources

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

Financial Terms
Details Here
MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau MarketBeat is rated as Great on TrustPilot

© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information | RSS Feeds

© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer.