kremlin.ru
Moscow Times/AFP: Putin Warns of 'Grave Consequences' to Oil Price Caps
Russian President Vladimir Putin warned that Western plans to introduce oil price caps could have "grave consequences" for energy markets, during a telephone conversation with Iraq's prime minister on Thursday.
"Vladimir Putin stressed that such actions are contrary to the principles of market relations and are highly likely to lead to grave consequences for global energy markets," the Kremlin said in a readout of the Russian leader's call with Iraqi Prime Minister Mohammed Shia al-Sudani.
The Kremlin said both sides had also spoken positively of the two countries' work within the framework of OPEC+, which it said helped "stabilize the world oil market."
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Update #1: Price cap for Russian oil may lead to grave consequences — Putin (TASS)
Update #2: Putin discusses West's oil price cap with Iraqi leader - Kremlin (Reuters)
WNU Editor: As to what will those "grave consequences be? I can easily see a few million barrels of Russian oil per day being taken off the markets. The impact on prices will be massive.
No agreement yet on imposing price caps on Russian oil .... EU Extends Oil Price Cap Talks as Russia Hints View May Ease (Bloomberg).
7 comments:
Price controls always fail to control markets. Oil n gas markets are global and dictated by supply and demand. All the EU is doing is diverting energy elsewhere. Also OPEC will take deep offense that this could happen to them. They will punish the EU.
More of Joe Biden’s brain dead diplomacy.
Putin is playing kabuki theater, which is very easy for him.
The Europeans are playing kabuki theater. The caps are set that they mostly will not be utilized by design.
So leaders on both sides are lying to both publics.
"How to Lose Friends and Alienate People"
The grave impacts are obvious to anyone with a high school understanding of economics. Trade barriers raise prices and they are going to emiserate the European working class even further.
must be good ideas if Putin worried about it
Putin is worried that we'll nuke ourselves!!
Putin will win Pulitzer for economic thinking
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