Russia will consider reducing oil production, but “there will be no losses under any circumstances,” Vladimir Putin assured.
As a result of the imposition of a price ceiling on Russian oil, world investments will be reduced to zero, and then prices will rise. The said forecast on Friday, December 9, was announced by the President of the aggressor country of the Russian Federation, Vladimir Putin, at a press conference following the meeting of the Supreme Eurasian Economic Council in the capital of Kyrgyzstan, Bishkek.
“Following some non-market harmful decision would be foolish for everyone, including consumers, because consumers must realize that they will insist on prices that are pleasant to them, even if they achieve it, prices will fall, investments will be reduced to zero, in the end, prices will rise and hit them, those who offer such solutions,” said Putin.
“This is far from us and only us – it concerns all manufacturers. Why? Because if someone agrees that the consumer will determine the price, it will lead to the collapse of the industry itself, because the buyers will always insist that the price is lower,” added the President of the Russian Federation.
Putin assured that Russia will consider reducing oil production and will not sell raw materials to “unfriendly countries” that will set a price ceiling.
At the same time, he is convinced that “Russia has no losses under any circumstances after the introduction of the ceiling on oil prices.”
It will be remembered that in early December, more than 30 countries in the world set a ceiling on oil prices from Russia. The restriction indicates that companies from countries that have agreed to the sanctions cannot provide brokerage, insurance and other services for the sea transportation of Russian oil to third countries, unless the oil that it is sold at a price below $60 per barrel. An embargo on offshore oil supplies from the Russian Federation to Europe also came into effect.
On the night of December 9, world oil prices were trading at the lowest level for the year – about 76.4 dollars per barrel.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.