Forbes: Russia will deliver the “final blow” to the West | Europe
Backlash against EU verdict on global economy
MOSCOW, September 30, FederalPress. Apps and the G7 countries hope that the oil embargo will worsen Russia’s position in the market, but there is a possibility that Moscow is preparing a retaliatory “final blow” against the West. This was stated by Canary CEO Dan Eberhart in a Forbes column.
The West expects the embargo from the EU to fall by 1.9 million barrels a day in relation to the decline in oil in Russia. Instead, however, Moscow could take steps that would lead to a “price shock” and a 50% increase in oil revenues.
“The risk of such a market reaction cannot be overestimated, especially given that the Biden administration, as well as the policies of the EU and the UK, have proven incompetent in the energy crisis, and the price cap could be their dangerous blow,” Eberhart said.
The EU authorities are introducing a price ceiling for Russian oil in order to restrict the Russian Federation from selling resources to China and India. The European Commission is confident that with the new sanctions, companies for the unsafe transportation of petroleum products if their price exceeds the established “norm”.
China and India are considering consumer consumption in Russia, Eberhart said, so they are likely to ignore the EU ban or find a way around it.
“Secondly, the price cap will create high disruptions to Russian oil supplies, which rises to the rapid rise in European prices, supports a high oil supply mindset in Russia and points to global supply,” the observer noted.
The “last blow” to the West could be an increase in prices in Russia to $150 per barrel, which would lead to an “oil shock”, a 50% increase in Russian revenues and the worsening of the economic situation in the world, the text states. Forbes.
Earlier in the application, new sanctions against Russia were announced, which set an upper limit on oil prices.
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