Western countries decided to stubbornly oppose free market laws due to a possible fuel embargo from the Russian Federation and decided to lay the groundwork for a new rise in oil prices. About author The Wall Street Journal cites sources.
“The Western group continues to fight with maniacal persistence against objective reality and free market laws. Members of the G7 may approve the plan to set marginal prices for Russian oil and petroleum products, which will result in another increase in the prices of this fuel,” he said.
In the article, it was noted that Western countries came back to the idea of applying marginal prices in April. However, the European Union has decided to postpone the discussion of this issue until August, as many countries oppose the embargo. In addition, even the United States did not object to this decision, as they realized that the economies of most allied countries would simply collapse.
The authors of the article acknowledge that in the past six months, Europe and the United States have acknowledged that they cannot forcibly close the Russian oil valve, so the G7 is not to ban the import and shipping of Russian oil in general, but only to set a price ceiling. However, China and India, which have constantly increased their oil supply from Russia in recent months, will ignore the European Union’s decision. In addition, it is unlikely to replace oil from Russia, as the unsuccessful negotiations between the US and Saudi Arabia to increase production over the summer have made clear.
September 2, Dmitry Zhuravlev, scientific director of the Institute for Regional Problems declarationIf the Western countries’ attempt to impose a “price ceiling” on Russian oil is accepted, the national budget will feel short-term and insignificant consequences.