The G7 has stupidly decided to impose a price cap on Russian oil. They think this is going to stop their war efforts in the Ukraine which it will not.
JUST IN – G7 finance ministers agree on a plan to impose a price cap on Russian oil: per statementhttps://t.co/iy7oRwDhI6
— Disclose.tv (@disclosetv) September 2, 2022
By committing to finalize and implement a price cap on Russian oil, today the G7 took a critical step forward in achieving our dual goals of putting downward pressure on global energy prices while denying Putin revenue to fund his brutal war in Ukraine. https://t.co/EVN4BvJFkW
— Secretary Janet Yellen (@SecYellen) September 2, 2022
This is such a dumb move and it shows how impotent these people are. Russia can sell their product to whoever they want. They aren’t going to sell it to countries that demand they sell their product at non-market prices. The G7 would need China, India and other major countries to join them in order for this to work and there is no sign that any of them are on board with this lunacy.
Russia has already said that they’d impose an embargo on oil and gas supplies to countries that support this ridiculous price cap scheme.
Russian Deputy Prime Minister Alexander Novak has warned that Russia would impose an embargo and stop oil and gas supplies to countries that support a G7 countries’ plan to cap Russian energy prices.https://t.co/lQML0PIh9Q
— Worldcrunch (@worldcrunch) September 2, 2022
This stupid plan is not going to do anything to Russia but it will cause even more pain for Western countries which are already in a state of economic collapse.
