Putin Says Europe's Oil Sanctions Are 'Economic Suicide'

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earth_imperator

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Putin Says Europe's Oil Sanctions Are 'Economic Suicide'
By AFP - Agence France Presse - May 17, 2022

Russian President Vladimir Putin on Tuesday said the oil sector was undergoing a "tectonic change", but claimed Europe would be committing "economic suicide" with its sanctions on Moscow over Ukraine.

By seeking to phase out Russian energy supplies, Europe will only hurt itself, Putin said, urging state officials to use "ill-thought-out" moves by the West to the country's advantage.

He told an energy meeting that Europe would see higher energy prices and higher inflation as a result of its actions.

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Putin can give the US and Europe what it wants which is sky high oil prices. All he has to do is cut Russian oil output by 1,000,000 barrels of oil even for a short while. That would result in oil prices spiking then, Biden and other NATO leaders will learn the hard way that you cannot cap the price of any commodity. The seller just needs to increase demand for his product by reducing supply and buyer would be at his mercy because he needs the commodity. Basic economics 101 for the fools who still cannot understand how the world's economy works. I am surprised Putin has not cut output yet, with Biden and NATO countries continuing to increase sanctions on Russia. Nevertheless, it is probably, coming.
 
smallfil said:
I am surprised Putin has not cut output yet, with Biden and NATO countries continuing to increase sanctions on Russia. Nevertheless, it is probably, coming.
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He'll do it in the winter when Germany needs the gas the most. Shame on Europe, especially Germany for allowing themselves to be so dependent on Russian energy. The sanctions do hurt Russia. Russia would make more money if they had a wider market to sell their oil to. But benefit those willing to buy oil from Russia (China, India). US and Europe are essentially subsidizing those countries willing to buy Russian oil.
 
ET180 said:
He'll do it in the winter when Germany needs the gas the most. Shame on Europe, especially Germany for allowing themselves to be so dependent on Russian energy. The sanctions do hurt Russia. Russia would make more money if they had a wider market to sell their oil to. But benefit those willing to buy oil from Russia (China, India). US and Europe are essentially subsidizing those countries willing to buy Russian oil.
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Maybe they (Germans and others) should not have shut down all their nuclear power plants with the desire to go "green". Which makes no sense, because nuclear is as green as it gets.

Dumfuks.
 
earth_imperator said:
"
Putin Says Europe's Oil Sanctions Are 'Economic Suicide'
By AFP - Agence France Presse - May 17, 2022

Russian President Vladimir Putin on Tuesday said the oil sector was undergoing a "tectonic change", but claimed Europe would be committing "economic suicide" with its sanctions on Moscow over Ukraine.

By seeking to phase out Russian energy supplies, Europe will only hurt itself, Putin said, urging state officials to use "ill-thought-out" moves by the West to the country's advantage.

He told an energy meeting that Europe would see higher energy prices and higher inflation as a result of its actions.

[...]
"
More...

It's a bit of an old article, yet it is still valid. Western governments routinely try to hide real inflation but the people don't care about the dodgy reported numbers as the vast majority do not understand economics, but they do see their bills going up and this can't be hidden.

The consequences of sanctions on Russia and theft of their assets remind me of this

 
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