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.
#Gravitas | Europe is slashing energy consumption as Russia cuts off supplies. Germany has switched off street lights. France plans to ban illuminated billboards. Spain has limited air conditioning at airports. @palkisu tells you more. pic.twitter.com/CcHF6GNlYi
— WION (@WIONews) August 26, 2022
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.
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BRICS+ is taking over and there’s nothing the West can do about it. The US dollar won’t be the worlds reserve currency and the US Govt won’t be able to print money on the backs of other nations. US Govt bonds will be junk because of insane US debt. The End pic.twitter.com/DTl8nIEuhE
— Kim Dotcom (@KimDotcom) December 18, 2022
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.
Top 10 wheat producers:
China: “Worst crop in history”
India: Export ban
Russia: Export ban
US: Bad production outlook
Canada: Bad production outlook
France: Bad production outlook
Pakistan: IMPORTING
Ukraine: Exports blocked
Germany: Bad production outlook
Turkey: IMPORTING— Calvin 🏴☠️ (@calvinfroedge) June 4, 2022
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