Home » British media: the limited effect on Russia’s oil price limit, Europe may reap the fruits of its own_China IT News

British media: the limited effect on Russia’s oil price limit, Europe may reap the fruits of its own_China IT News

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British media: the limited effect on Russian oil price limit, Europe may reap the fruits of its own

Hangzhou Net Release time: 2022-12-04 21:08

CCTV news client British media analyzed that the EU’s price cap on seaborne oil exported by Russia has limited effect, but may instead lead to a surge in global oil prices and bring disaster to itself.

The British “Economist” magazine recently published an article saying that “oil price caps” and other Western sanctions against Russia are not “panacea”. Despite the various Western sanctions this year, Russia’s oil exports still maintain a good momentum and considerable income.

The article stated that one of the biggest uncertainties in the future is Russia’s reaction after the EU imposed a price cap on Russia’s seaborne oil exports. Previously, Russia has repeatedly stated that it will not export energy against its own interests, and will not supply oil and oil products to countries that impose price limits on Russian oil. As the world‘s major oil producer, if Russia cuts oil exports due to Western price limits in the future, it may lead to a sharp rise in global oil prices, and Europe will eventually suffer its own consequences.

The article also pointed out that just as the United States and other Western countries’ financial sanctions against Russia have inspired more and more countries to flee the Western-led financial system, Western sanctions on Russia’s oil exports will also prompt other countries to avoid Western-led energy infrastructure in the future, such as Shipping and insurance services, etc. As “weapons”, “sanctions”, “embargoes” and “price limits” all have their limitations and may produce “reactions”.

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Russia: The United States is behind the scenes and beneficiaries

According to a report by the Russian Satellite News Agency, in response to the G7 setting a price ceiling on Russian oil, Alexey Chepa, deputy chairman of the International Affairs Committee of the Russian State Duma (lower house of parliament), said that Russia will only use favorable conditions for it. Selling oil, G7 manipulation will cause global oil prices to rise. The United States is the driving force behind all this and the biggest beneficiary.

(Original title: British media: The effect of the price limit on Russian oil is limited, and Europe may suffer its own consequences)

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