Russia Bans Oil Deliveries to Nations with a Price Cap

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Russian President Vladimir Putin banned the supply of Russian oil and oil products to countries with a price cap. Only the Kremlin leader can approve deliveries to those nations.

The European Union and the U.K. earlier this month banned the import of Russian seaborne crude. At the same time, the Group of Seven nations put a ceiling on other sales by barring Western companies from insuring, financing, or shipping Russian crude at above $60 a barrel.

Putin Tuesday signed a decree announcing the retaliatory measures, scheduled to come into effect on Feb. 1 and last through July 1, 2023. He described the West’s actions as unfriendly actions by foreign states and international organizations that contradict international law and are designed “to protect the national interests of the Russian Federation,” the decree said.

The EU, G7 countries, and Australia on December 5 introduced the $60-per-barrel price cap on Russian seaborne oil exports.

Deputy Prime Minister Aleksandr Novak said that Russian oil will still be in high demand despite the latest sanctions on the country’s exports. By imposing a price cap, Western countries will only trigger further energy inflation due to scarce supply, the minister said, adding that Russia views such non-market mechanisms as unacceptable.

The West has weaponized energy and the SWIFT financial system. These sanctions have hurt the West far more than Russia to date. Worse yet, this might cause the deaths of innocent people.

When we weaponized the financial system, we destroyed our own. BRICS is winning over Saudi Arabia and other key nations, spelling the end of the eurodollar. The US will no longer be able to print money, and we won’t be able to pay off our debt.

At the same time, the West is destroying farms, energy, economies, and security, and they are doing it for an insane ideology.

This could cause worldwide starvation, and the people suffering the most are the world’s poor.


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GuvGeek
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GuvGeek
11 months ago

Don’t worry, Trader Joe is going to power America’s Big Blue Cities on Solar and Windmills and bring you back into the 19th Century, while Russia sells it’s Oil to China and becomes filthy rich!

I hope you guys in the North East aren’t too cold, because winter is just starting. How much has Fuel Oil gone up? It’s about to go up again!

Freeland_Dave
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Freeland_Dave
11 months ago

If I were Putin I wouldn’t sell any crude to anyone, period. In fact I’d probably starting any aircraft or cargo ship of any nation that is transporting US made military hardware or munissions to be used by anyone against Russia similiar to what Adolph Hitler did to the US and FDR’s scheme to use merchant marine and other cargo ships that delivered war materials made in the US that were supporting European Allies that were actively fighting against Germany during World War II BEFORE the US entered the European war theater. I’d also start attacking the US for all of the monitary aid that Biden and Congress are giving the Ukranianian government. The US involvement in Europe over the Ukraine versus Russia is not our business and the EU nations are primairly at fault.

The Prisoner
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The Prisoner
11 months ago

Westerners are too stupid, weak, distracted, unprincipled to realize what is going on. We deserve this sabotage. Putin warned months ago on this. This trade action helps bring more war. Trade conflicts like this have helped cause past wars. The price of oil will rise far above the price cap set. The NWO merely wants to decrease Russian revenues. It is a shakedown action like organized crime moving in on a business. Russia has collected so much money the past year, it can hold off for a long time, with its low debt and internal resources. The West will suffer far more than Russia. That means Russia wins. Russia wants a free market. That is part of capitalism. The West has destroyed capitalism at home.