Russian Deputy PM Warns Russia Will Stop Exporting Oil If Price Caps Are Imposed

Russian President Putin Meeting Deputy Prime Minister Alexander Novak . Kremlin.ru

RT: Russia warns it could stop oil exports 

Foreign crude sales could be suspended if US-driven scheme succeeds, top official says 

 Russia will stop global oil exports if the West’s proposed price cap makes it unprofitable to continue production, Deputy Prime Minister Alexander Novak told Russia’s Channel One on Thursday. 

“If these prices which they are talking about are lower than the costs for oil production… naturally, Russia will not ensure the supply of this oil to the world markets, which means that we simply will not work at a negative profit,” he explained, as cited by TASS.

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WNU Editor: Russian Deputy Prime Minister Alexander Novak's background is in the energy industry. In Russia his word is gospel when it comes to energy issues. 

As to what will be the consequences if Russia halts its oil exports? This energy consulting group is making this dire prediction .... Price cap on Russian oil is a ‘ridiculous idea’ and could push oil to $140, says energy research group (CNBC). 

Russia Warns It Will Stop Exporting Oil If Price Caps Are Imposed 

Russia will not supply oil if price cap is below production costs — Deputy PM -- TASS  

Novak: Russia Will Not Export Oil If Price Cap Is Below Production Cost -- OilPrice.com  

Russia won't supply oil if price is capped below production cost - Interfax -- Reuters

U.S. Says India To Face Significant Costs If Aligned With Russia

Bloomberg: India to Face Significant Cost If Aligned With Russia, U.S. Says 

 (Bloomberg) -- President Joe Biden’s top economic adviser said the administration has warned India against aligning itself with Russia, and that U.S. officials have been “disappointed” with some of New Delhi’s reaction to the Ukraine invasion.

“There are certainly areas where we have been disappointed by both China and India’s decisions, in the context of the invasion,” the director of the White House National Economic Council, Brian Deese, told reporters at a breakfast Wednesday hosted by the Christian Science Monitor. 

The U.S. has told India that the consequences of a “more explicit strategic alignment” with Moscow would be “significant and long-term,” he said. 

While the U.S., Europe, Australia and Japan have piled economic sanctions onto Russia in response to its war against Ukraine, India has declined and instead has sought to continue imports of Russian oil.  

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WNU Editor: This irked the U.S. .... India Rolls out Red Carpet for Russian Foreign Minister (The Diplomat). 

IMHO the government of India is not going to abandon their neutral status in the Russia - Ukraine war. 

Update: India is not buying this argument .... Russia Wouldn't Come To Your Defence If China Breaches Border, US Warns India (NDTV). 

 U.S. Says India To Face Significant Costs If Aligned With Russia 

U.S. FBI says it disrupted Russian hackers -- Reuters  

U.S. Tells India There Will Be 'Consequences' for Dodging Russia Sanctions -- Newsweek 

India faces pressure over close ties with Moscow -- The Hill 

US Warns India, China Of 'significant & Long-term' Consequences Of Alignment With Russia -- Republic World

US warns India over Russian weapons -- RT

US Blocks Russia From Making $600 Million Bond Payment. Risks Of A Russian Default Now Rising

Russia's Central Bank. MT  

Business Insider: The US blocks Russia from making a $600 million bond payment as it ramps up the pressure on Moscow 

* The US Treasury blocked Russia's attempt to pay more than $600 million due on sovereign dollar bonds Monday. 

* The Treasury will no longer allow Russia to make sovereign bond payments using accounts at American banks. 

* It ramps up the pressure on Moscow, which is facing tough economic sanctions over its war in Ukraine. 

The US Treasury has blocked Russia's attempt to pay more than $600 million due on foreign sovereign bonds, as it tries to ramp up the economic pressure on Moscow. 

Up until Monday, the Treasury had been allowing American banks to process the payments so that money would reach US bondholders, despite the tough sanctions imposed over Russia's invasion of Ukraine.  

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WNU Editor: The risk of Russia now defaulting has raised to 87.5% .... Russia Five-Year Default Risk Jumps to 87.7% After U.S. Ban (Bloomberg). 

US Blocks Russia From Making $600 Million Bond Payment  

U.S. stops Russian bond payments in bid to raise pressure on Moscow -- Reuters  

Russia’s Effort to Avoid Default Undermined by New U.S. Sanction -- Bloomberg  

Treasury blocks Russia from paying debt out of U.S. accounts -- Politico  

Russia debt default prospect resurfaces as U.S. blocks bond payment -- CNBC  

Russia Risks Default as U.S. Blocks Payments from U.S. Banks -- Moscow Times/AFP

Are Americans OK With Paying Higher Gas Prices If It Means Holding Russia Accountable For What They Are Doing In Ukraine?

WATCH: CNN reporter says Americans are "OK paying higher [gas] prices if it means holding Russia accountable for what they are doing in Ukraine." pic.twitter.com/INb2ZmbwJD

— Breaking911 (@Breaking911) March 9, 2022

WNU Editor: In my opinion I think most Americans and Canadians will support higher gas prices (i.e. $2.5/liter or $9/gallon) even if it means double digit inflation, double digit interest rates, and double digit unemployment numbers resulting in a 2 to 3 year recession. Am I wrong?