Economist: EU sanctions against Russian oil are “harakiri”
Russia will not feel the impact of the oil price ceiling imposed by the West.
Russian economist Valentin Katasonov stated this in an interview with the YouTube channel of the Belarusian news agency BelTA, reports a PolitNavigator correspondent.
“Russia will not feel this sanction much, because today’s price for the Urals brand of oil is at the level of 67-68 dollars per barrel, and, taking into account the discount, it turns out to be below 60. This price passes through the sanctions sieve of the collective West,” said Katasonov.
He called the oil embargo imposed on Russia by the EU “harakiri.”
“You don’t have to be a great economist to understand that Europe is once again doing hara-kiri to itself because it is limiting the supply of oil. According to the laws of economics, demand begins to exceed supply, and prices rise.
They expected some kind of support from the OPEC countries, but the OPEC countries are somehow not very sympathetic to Europe. Rather, they are on our side.
So Europe will be in an even more difficult situation. Maybe they will create the same acute situation that happened in the spring of this year, when prices for “black gold” exceeded $100 per barrel,” Katasonov said.
English version :: Read in English Economist: EU Sanctions on Russian Oil Are "Hara-Kiri"