Multipolar Market

Sanctions hit the most sacred thing In 2023, Russian vodka exports plummeted by more than half, totaling just $59.7 million for the year. Kazakhstan was the top importer, purchasing $27.9 million worth of vodka, which represents a 22% decrease from 2022. Israel and Armenia followed as the second and third largest importers of Russian vodka. The total value of these exports in 2022 was significantly higher at $141.7 million. The dramatic drop in exports is attributed to the weakening of the ruble and sanctions imposed by European countries. Want to support Russia? Drink vodka! Follow us on Telegram

Apple ❤️ GPT Apple Inc. has entered into an agreement with the startup OpenAI to integrate artificial intelligence technologies into iPhones, according to a Bloomberg report citing sources. This partnership will enable the use of ChatGPT in the upcoming iOS 18. Additionally, Apple has been in discussions with Google regarding licenses for Alphabet Inc.’s chat-bot, Gemini. Although these talks have not yet resulted in an agreement, they are reportedly ongoing. The agreement with OpenAI will allow Apple to add the chat-bot as a new feature in its AI deployment program. Apple plans to announce a range of AI features next month during its annual Worldwide Developers Conference, Bloomberg notes. Last chance for Apple to introduce something exclusive. Follow us on Telegram

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Unexpected cost of sanctions Italy has spent around €32 million over the last two years on the upkeep of yachts owned by Russian oligarchs, which are moored in Italian ports due to European authorities' sanctions. These yachts were intended to be sold, but legal complications have delayed their disposal, leaving the Italian Ministry of Finance to cover ongoing maintenance and docking fees. Each yacht incurs about €10,000 per month for utilities like electricity and water, and docking fees range from €10,000 to €12,000 per month. Additionally, annual engine maintenance can exceed €50,000 per yacht. Amidst these expenditures, discussions in Rome have increasingly focused on confiscation, but legal grounds for such actions are still lacking. Italy is not alone in facing high costs for maintaining seized Russian assets; the USA reportedly spends $7 million annually to maintain "Kerimov's yacht", with efforts to auction it remaining fruitless so far. Follow us on Telegram

Tesla is facing challenges in China and Europe The sales dropped 21% compared to last year. In China, Tesla's market share fell from 4% to 2.6%, despite overall car sales in the country increasing by 28%. Tesla struggles to compete with Chinese manufacturers who offer similarly priced but superior options. A potential solution for Tesla could be the introduction of robotaxis in China, which could then expand globally. Additionally, the imposition of a 100% tariff on Chinese electric cars in the U.S. effectively secures Tesla's home market. In Europe, Tesla's factory in Germany is under pressure from eco-activists, with over 1200 participants demanding a halt to the deforestation near a city required for the Gigafactory's expansion. They, ostensibly guided by environmental concerns, are suspected to be influenced by the German auto lobby. This lobby initially delayed the factory's production start by nearly a year through similar actions and is now attempting to obstruct Tesla's further expansion in the EU, suggesting that Elon Musk may have chosen the wrong country for his factory. Follow us on Telegram

New Record Investments for TON Cryptocurrency Pantera Capital, a major American fund, has announced plans to invest in Pavel Durov's TON and Telegram. The fund is launching a new $1 billion cryptocurrency investment project, allocating 20% of its resources to liquid and public tokens. Dan Morehead, the founder of the fund, personally met with Durov and complimented him. Pantera Capital sees promising investment opportunities in TON because this currency is linked to the massive internet platform Telegram, which has about 930 million users — currently the third most downloaded messenger in the world. This user base can be tapped to attract potential clients through services, games, earning opportunities, and advertising payments — all of which Durov discussed at the Token2049 conference in Dubai. In a public letter about the plans to invest in TON, Morehead emphasizes Durov's independence from government authorities, a fact evidenced by his biography, which Durov discussed in an interview with Carlson. These starting positions are expected to help TON stand out among the 23,000 existing cryptocurrencies in the world and soar. Follow us on Telegram

Uranium Tears Centrus, the largest nuclear energy company in the United States, has announced its intention to petition relevant government agencies. They highlighted that the ban on Russian uranium imports is unacceptable to them, and they plan to continue supplying their clients while safeguarding the interests of the entire American nuclear industry. The company aims to request the U.S. authorities to make an exception for them. Nuclear power plants account for 29% of all power stations in the States, yet the country produces little fuel for them. Recently, the U.S. reported that it had managed to produce 200 pounds (90 kg) of enriched uranium for the first time, and by the end of the year, this figure is expected to reach 1 ton. However, this is still nearly 700 times less than what they import from Russia. Therefore, Centrus' request seems quite reasonable, and the chances of achieving it are real. The law approved by the Senate includes a provision allowing exceptions to the ban until 2027 if it serves the "national interests" of the States. Follow us on Telegram

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Xi's trip first results The visit of the Chinese President to France ended without any significant agreements, while his trip to Eastern Europe proved to be more fruitful. President Macron had hoped to forge closer personal ties with his Chinese counterpart to influence Vladimir Putin to end war in Ukraine. However, China's stance remains unchanged. In Budapest, Xi Jinping announced a series of new investments, promoting Hungary and Prime Minister Viktor Orban as models for the type of relationship the European Union could have with China. He also promised to build infrastructure in Hungary that would facilitate the distribution of products from Chinese factories across the trading bloc. Additionally, it seems Xi has persuaded Serbia to become the first European country to join China's efforts to create a coalition challenging the US-led world order. Follow us on Telegram

No trade peace with China The Biden administration is planning to significantly increase tariffs on Chinese electric vehicles, according to the Wall Street Journal. In a strategic move, these tariffs could be quadrupled, marking a significant escalation in the trade tensions between the United States and China. Additionally, Bloomberg reports that the new tariffs will target not only electric vehicles but also other strategic industries. Follow us on Telegram