Russia will not sell oil at low prices...
Russia will not sell oil at low prices...
The effect of the ongoing war between russia and ukraine is now visible on the world as well. President Vladimir Putin announced on wednesday that russia will not sell oil at low prices. G-7 countries have promised that they will pressure the world to buy oil from russia at lower prices. Furious over this decision of the G-7 countries, Putin has now made a big announcement.
At an event of the Russian Energy Week 2022, Vladimir Putin said, 'I am saying this clearly that russia will not act against its interests. We will not sell gas or oil at low prices. No one can bow down to us for this. We will not follow the rules set by other countries. We will not work against our self esteem. Oil and gas is Russia's main source of income.The ongoing war between russia and ukraine has now reached its 8th month. There doesn't seem to be any solution to this war. Western countries are fearing that russia wants to profit from the continued sale of fossil fuels. About 40 percent of Russia's income comes from fossil fuels.This decision of the G-7 countries will make it difficult for russia to sell oil within the data-borders of the G-7 countries. After this decision taken on russia, russia is going to get a big setback financially. Now the impact on Russia's oil earnings can be seen.Russia's Central bank claims that russia earned 113 billion euros in 2021 from crude oil imports. russia earned 70 billion euros from selling refined products. Russia is ready to sell gas to europe again!Russian President Vladimir Putin has also said that his country is ready to resume gas supplies to europe from the Nord Stream 2 pipeline through the Baltic sea to Germany. Vladimir Putin has alleged that the US was behind the explosion in both links of the Nord Stream 1 pipeline and one of the two links of the Nord Stream 2 pipeline. Due to the explosions in the pipeline, there was a massive gas leak and the supply was stopped. America has already rejected Putin's such allegations.
The effect of the ongoing war between russia and ukraine is now visible on the world as well. President Vladimir Putin announced on wednesday that russia will not sell oil at low prices. G-7 countries have promised that they will pressure the world to buy oil from russia at lower prices. Furious over this decision of the G-7 countries, Putin has now made a big announcement.
At an event of the Russian Energy Week 2022, Vladimir Putin said, 'I am saying this clearly that russia will not act against its interests. We will not sell gas or oil at low prices. No one can bow down to us for this. We will not follow the rules set by other countries. We will not work against our self esteem. Oil and gas is Russia's main source of income.The ongoing war between russia and ukraine has now reached its 8th month. There doesn't seem to be any solution to this war. Western countries are fearing that russia wants to profit from the continued sale of fossil fuels. About 40 percent of Russia's income comes from fossil fuels.This decision of the G-7 countries will make it difficult for russia to sell oil within the data-borders of the G-7 countries. After this decision taken on russia, russia is going to get a big setback financially. Now the impact on Russia's oil earnings can be seen.Russia's Central bank claims that russia earned 113 billion euros in 2021 from crude oil imports. russia earned 70 billion euros from selling refined products. Russia is ready to sell gas to europe again!Russian President Vladimir Putin has also said that his country is ready to resume gas supplies to europe from the Nord Stream 2 pipeline through the Baltic sea to Germany. Vladimir Putin has alleged that the US was behind the explosion in both links of the Nord Stream 1 pipeline and one of the two links of the Nord Stream 2 pipeline. Due to the explosions in the pipeline, there was a massive gas leak and the supply was stopped. America has already rejected Putin's such allegations.