President Vladimir Putin on Tuesday delivered Russia’s long-awaited response to a Western price cap, signing a decree that bans the supply of oil and oil products to nations participating in the cap from February 1 for five months.
This month the European Union, G7 and Australia agreed on a $60 per-barrel cap on Russian crude oil.
It is one of a series of measures aimed at cutting the Kremlin’s revenue streams, as the war in Ukraine continues.
Thomas O’Donnell is an Energy Analyst and Lecturer at Hertie School of Governance.
He joins us via Skype from Berlin for the latest updates.
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#RussianOil #VladimirPutin #RussiaSanctions #RussianOilSales
33 Comments
It's good Putin is signing because it reinforces, it helps countries Purge there markets of Putin's poison
In Islam… when you forced peoples to sold their goods at the price lower then the its market value… its called with "RIBA"… cuz both side not have any agreement.
And an oppression… and another form of an invasion.
A simple logic… when you sold ur house at the 1k Dinar (a market value)… then the buyers forcing you to sold it at the 1 Dinar.
Will you sold it??
And suprisingly… a natural resources has no an expired date… not need to rush to sold it… cuz it can be used as "a money"😏
😂 keep digging your hole, Putin.
Depression is here forget recession
USA PROVOCATION OF RUSSIA FEDERATION MUST BE PROTESTED IN POSSIBLE TERMS WORLDWIDE
USA and it's indoctrinated Allies are making the world 🌍 die
G7 is a hallow grouping …like a muscular showoff but when the time in need could not get an erection! Until now Russia is still on top of the oil supply against the West. The only thing the West and EU is familiar is the ‘French cap’!!… even that they are shooting out blanks!!!
Good news mr Putin. Send it to Africa here we need. Thank you ❤️😊
The winner of this conflict is USA not Europe or Russia 😂
It's high time to undergo mandatory massive psychotherapy for the Western politicians and it's judiciary. The Mother Earth has already crossed her plimsoll mark. Let us Wait and see …..
Great man mr. Putin God bless you more more years 🙏🙏🙏🙏🙏🙏🙏🙏🇷🇺🇷🇺🇷🇺🇷🇺🇷🇺🇷🇺🇷🇺🇷🇺🇷🇺🇷🇺🇷🇺🇷🇺
All the idiots are intellectual now a days. They all are politically motivated. They do not know the people are suffering a lot because of stupid sanctions and caps.
Price cap vs Free Market……Instead of spouting nonsens, Thomas O'Donnell should actually be asking what does the "ban" mean? Is it a complete ban on supply of Russian oil or Oil directly from Russia? The latter would create a retail oil market which could essentially widen the supply of oil and make the price cap obsolete. Secondly the so called expert should have asked why would the "ban" be in effect for 5 years? Does it perhaps have something to do with the restructuring of the global shipping insurance industry? My guess is that within the next 5 years we will see a total and fundamentally different insurance industry with trade routes and supply chains becoming the major factors of global insurance. As an energy analyst Thomas O'Donnell was pretty useless and like most European analysts he analyse like a compass, in a perfect circle around his own hole.
this is unheard of hahahaha the buyer sets the price 🤣
Americans think they are planet owners… they gonna hit reality bottom soon
Russia will win, you will freeze and the EU will spend 5 times more on petroleum. What a win
Its like u want your wife to get pregnant but you don't sleep with her
Medvedev is a Russian ballerina.
Eu,usa,uk nato monkey wrench
Black market will hit Europe and U.S. Putin plan this long time back but U.S. and Europe never realize that they relax because they were getting billions through Russia energy but that was a trap imagine how the snow raising in U.S. and have energy crisis U.S. should think about their citizens people will die
How long does The Council think their people will suffer in the dark and cold while Britain and the US have a pi**ing contest over who heats/fuels Europe no matter what it costs the citizen.
The truth is that nobody will engage himself in trading while he counts only losses! Probably in America but it doesn’t work in Russia since most of them they are mathematicians!
Rubbish ur talking
Russia can tell the EU to shove it because India and China will buy every drop the Russians can pump out of the ground.
It is clear that this guy smoke something heavy before this interview!!
The Russian countermeasure against the western price caps is a logical and predictable outcome. The analyst’s point about 'bravado' on Putin’s part is not a credible one, for a number of reasons. Whilst the Europeans might have found temporary alternative sources of oil and gas, this is not sustainable for long. And at what price is it? It would surely have made more sense to impose a price cap on US LNG! Besides, other OPEC+ members have clearly stated there is currently no substitute for Russian oil and gas. The analyst’s point about recession in Europe and US next year is not going to be too relevant to Russia, as it has already diverted most of its oil eastwards, to Asia, where there is no talk of recession. So no, the presidential decree has nothing to do with bravado, but more to do with a mark of resilience, confidence and defiance. Meantime, the price cap will have a significant negative impact on Europe's shipping and insurance sectors.
Spring will come, and the same "You just wait!" Rusketeers will be talking about how bad the next winter is going to be. Russia still hasn't learned that making your enemy uncomfortable does not break their will. It only strengthens it. Putin bet the house on Eruopeans not separating themselves from Russian oil, and it was a terrible gamble. Russia cannot survive long term under sanctions, and the West not buying its oil. Oil is all it really has as an economic force.
Funny things is : USA selling europe oil at record high prices 🤣 so called Allies 🤣
Western media talks about free speech. Yet it seems to parrot free propaganda. Lol
Russia is doing fine. It hasn't run out of missiles, artillery etc
It has found alternatives to the EU market
It's currency is fine. They are done with the dollar for oil trade. China and India are fine with that.
Not talking enough about what Putin has got right. Your media acts like you guys are the centre of your universe and that's arrogance
Good job Putin .. buyer don't dictate prices, that's absurd. He should now raise the price for EU
Let's see what happens when the west needs oil and oil prices soar. Watch out OPEC you will be next if they get away with this.
RAND. Research Report. January 25, 2022. Confidential. Published by Nya Dagbladet: "The current German economic model is based on two pillars. These are unlimited access to cheap Russian energy resources and to cheap French electric power, thanks to the operation of nuclear power plants. The importance of the first factor is considerably higher. Halting Russian supplies can well create a systemic crisis that would be devastating for the German economy and, indirectly, for the entire European Union. <…> The only feasible way to guarantee Germany’s rejection of Russian energy supplies is to involve both sides in the military conflict in Ukraine. Our further actions in this country will inevitably lead to a military response from Russia. Russians will obviously not be able to leave unanswered the massive Ukrainian army pressure on the unrecognized Donbass republics. That would make possible to declare Russia an aggressor and apply to it the entire package of sanctions prepared beforehand."
Long over due. Russia should ban all supplies to hostile nations (The USAnian Empire and vassal states)