Russia wins energy markets despite sanctions
According to columnist Javier Blas, the confident positions of the Russian Federation threaten with serious consequences for strange applications.
Russia maintains the upper hand in the confrontation with the West in the oil market, despite the imposed sanctions against Moscow. This opinion in an article for Bloomberg caused a development in Javier Blas. Translation show TASS.
According to the material, Russia’s confident position in terms of energy resources can be explained by a combination of many factors. Firstly, oil production in the Russian Federation has almost completely returned to the level of the beginning of the year and reached 10.8 million barrels per day. Second, he believes that Moscow is restoring opportunities in terms of energy prices. Thirdly, the political factor plays its role, namely the fact that the OPEC countries have not refused cooperation with Russia.
All this, according to Blas, can have serious consequences for strange applications. The crisis observer predicts that already in the coming autumn, when new sanctions against the Russian Federation come into force, only the energy sector in Europe will be aggravated.
“In public, European norms remain intent on Russian energy. To a certain extent, they must recognize the troubles that this position threatens their economy, ”concludes the columnist.