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7.3 M Quake Strikes Off Japan Coast, Triggering Tsunami



TOKYO - A powerful earthquake struck off the northeast coast of Japan on Friday evening, triggering a tsunami, reports CNN.

The epicentre of the 7.3 magnitude quake was about 245km (150 miles) south-east of Kamiashi at a depth of about 36 kilometers.

There have been no immediate reports of deaths or injuries, reports The Japan Times.

Evacuations have been ordered in the affected coastal regions, according to BBC News.

Seismic activity could be felt in the capital city of Tokyo where buildings swayed for several minutes.

Very big shake in Tokyo

— Mark Willacy (@markwillacy) December 7, 2012

Still going

— Mark Willacy (@markwillacy) December 7, 2012

Still slight wobbling...long, long quake

— Mark Willacy (@markwillacy) December 7, 2012

Why is this #quake not stopping? #japan

— Toshio Suzuki 鈴木 ã�¨ã�—ã�Š (@ToshJohn) December 7, 2012

Tohoku, Joetsu and Nagano shinkansen high-speed trains have been stopped to conduct checks on the lines.

The Japan Meteorological Agency said a 1-meter high tsunami wave was recorded at 6:02 P.M. Japan Time in the Ayukawa District of Ishinomaki City, reports NHK.

Map of the quake epicentre - Source: CNN.com

Tohoku Electric Power Co. (TEPCO) said no abnormalities have so far been reported at its nearby nuclear plant in Onagawa.

This region was already the hardest hit by the devastating earthquake and tsunami that struck in March 2011 and killed more than 15,000 people.

NHK newscasters really went all-out this time in issuing #tsunami warnings: “Flee now to save your life!” “Remember the Tohoku disaster!"

— Hiroko Tabuchi (@HirokoTabuchi) December 7, 2012

Prime Minister Yoshihiko Noda cancelled campaigning for the 16 December election to return to his office.

All tsunami advisories and warnings for north-east Japan have now been lifted after magnitude-7.3 earthquake this evening

— Mark Willacy (@markwillacy) December 7, 2012

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FOCUS: Russia-Ukraine War

How Russia's Wartime Manipulation Of Energy Prices Could Doom Its Economy

A complex compensation mechanism for fuel companies, currency devaluation, increased demand due to the war, logistics disruptions, and stuttering production growth have combined to trigger price rises and deepening shortages in the Russian energy market.

Photograph of Novatek's gravity-based structure platform for production of liquefied natural gas, floating on a body of water.

Russia, Murmansk Region - July 21, 2023: A view of Novatek's gravity-based structure platform for production of liquefied natural gas.

Ekaterina Mereminskaya

In Russia, reports of gasoline and diesel shortages have been making headlines in the country for several months, raising concerns about energy supply. The situation escalated in September when a major diesel shortage hit annexed Crimea. Even before that, farmers in the southern regions of Russia had raised concerns regarding fuel shortages for their combines.

“We’ll have to stop the harvest! It will be a total catastrophe!” agriculture minister Dmitry Patrushev had warned at the time. “We should temporarily halt the export of petroleum products now until we have stabilized the situation on the domestic market.”

Stay up-to-date with the latest on the Russia-Ukraine war, with our exclusive international coverage.

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As the crisis deepens, experts are highlighting the unintended consequences of government intervention in fuel pricing and distribution.

The Russian government has long sought to control the prices of essential commodities, including gasoline and diesel. These commodities are considered "signalling products", according to Sergei Vakulenko, an oil and gas expert and fellow at the Carnegie Endowment. Entrepreneurs often interpret rising gasoline prices as a signal to adjust their pricing strategies, reasoning that if even gasoline, a staple, is becoming more expensive, they too should raise their prices.

The specter of the 2018 fuel crisis, where gasoline prices in Russia surged at twice the rate of other commodities, haunts the authorities. As a result, they implemented a mechanism to control these prices and ensure a steady supply. Known as the "fuel damper," this mechanism seeks to balance the profitability of selling fuel in both domestic and foreign markets.

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