March 24, 2022
Trade flows both ways. Putin knew that. It's why he promoted "green tech" in Europe in the first place by funding the radical environmental groups. He knew they would have to come to him for oil and gas. It's also why he launched this invasion in late winter, while Europe still needed the gas flowing.
Russia Chokes Major Oil Pipeline in Further Threat to Global Supplies
Russia is throttling again capability on a significant pipeline that sends crude oil to international markets, driving costs greater and elevating fears that Moscow was ready to retaliate towards western sanctions by curbing its personal vitality provides.
As much as 1mn barrels a day of oil shipped by the Caspian Pipeline Consortium’s pipeline from central Asia to the Black Sea may very well be minimize for as much as two months whereas repairs are made to storm-damaged loading services, Russia’s deputy vitality minister mentioned in a press release on Tuesday carried by the information company Tass.
The provision interruption comes on the eve of US president Joe Biden’s journey to Europe, the place EU nations are anticipated to debate imposing sanctions on Russia’s oil sector in response to nation’s invasion of Ukraine. The US has already banned Russian petroleum imports.
Worldwide oil costs rose by greater than 2 per cent to $117 per barrel instantly after the pipeline announcement earlier than falling again to $115 a barrel.
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Posted by: Fake Watches at August 17, 2023 09:24 PM (OAWTR)
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