The Russian Federation can lose $ 80 billion annually: the event increases the oil pressure on the Kremlin - Reuters
Otherwise, reducing deliveries will lead to an increase in world oil prices, which will hit the Western economies, and Moscow's income may not even be affected: higher prices compensate for the loss of volume. About it reports Reuters. In this regard, G7 countries plan to persuade other oil states, especially the Gulf countries, to increase oil production, and to negotiate with key buyers of Russian oil, including India, to reduce purchases from Moscow.
The starting point will be cooperation with Riyadh and Abu Dhabi. According to the International Energy Agency, Saudi Arabia is able to increase production by 2. 43 million barrels per day and the UAE by 0. 85 million. Experts warn that a sharp increase in supply can reduce the world's oil prices, and the Gulf countries are at risk of losing more than winning. Therefore, G7 should show them that the price of oil will not collapse, removing from the market a similar volume of Russian oil.
In addition, Western countries are counting on the "India and Turkey Agreement". China, despite the largest buyer of Russian oil, is unlikely to change their purchases, given the close relations with Moscow. But India and Turkey represent a more promising direction. According to the Ukrainian KSE Institute, India has imported about 1. 9 million barrels per day in recent months, Turkey - 0. 9 million.
G7 countries intend to show these countries that they can profit by buying less in Russia and more from the Gulf, offering profitable discounts. It should be reminded that on October 12, the Armed Forces hit the Smolensk airline strategic weapons. In particular, locals and eyewitnesses recorded the rise of a smoky column in the airfield.