Daumenschrauben für den Kreml

Serious Black, Mittwoch, 01. März 2023, 10:06 (vor 632 Tagen) @ Serious Black

Following such encouraging early signs, the EU and G7 doubled down on price caps to third parties. An EU summit on February 9 announced new caps of $100 per barrel on premium petroleum products (diesel, kerosene and petrol or gasoline) and $45 per barrel of discount oil products (fuel oil, naphtha), effective April 5.

Russia has responded by threatening to cut oil production by half a million barrels a day in March, which could raise prices globally, but that is a double-edged sword, also affecting Russia’s main ally, China.

“We have to look at the knock-on effects of all this,” said Leigh. “Given discounted prices for Asia, and that prices have fallen in Europe, Russian revenues are going to fall considerably. Put that with the expenditure on the military and Russia’s debt position. The Kremlin has been paranoid about debt, and hasn’t been willing to draw down on cash reserves, but it may now have to revise that.”

Given that the West’s financial doors are shut to Russia, and $300bn in Russian sovereign assets are frozen in Europe, Russia could find it difficult to finance its war in the long term.

https://www.aljazeera.com/news/2023/2/28/europe-leaps-towards-energy-autonomy-as-sancti...