Remember when the G7 announced that they would impose a price cap on Russian oil below fair market value? Myself and others said that this was a stupid policy and that it would do nothing to damage Russia.
Well, wouldn’t you know it? It failed and they’ve been forced to admit that it has failed. Or as the Jew Janet Yellen has said, “not working as intended.”
RT:
The price cap imposed on Russian oil by the G7 countries is not working as intended, US Treasury Secretary Janet Yellen said on Friday, as quoted by Bloomberg. She said market prices for crude exported from the sanctions-hit nation remain high.
A $60-per-barrel price ceiling on Russian seaborne crude was introduced by the EU, G7 countries, and Australia on December 5. It prohibits Western firms from providing insurance and other services to shipments of Russian crude, unless the cargo is purchased at or below the set price.
The mechanism was intended to force Russia to continue exporting high volumes of oil to prevent global prices from spiking, but reduce the revenue that Moscow generates by selling its crude.
“It does point to some reduction in the effectiveness of the price cap,” Yellen said during her visit to Savannah, Georgia in response to a question about Russian crude prices, which are now hovering around $100 per barrel instead of the $60 set by the cap.
So dumb.
These people are evil but they lack the competence to actually execute their evil plans. They along with their army of brown-nosing midwits are totally lost on how to deal with what’s happening around them.
