Ivan Yakovina: This is a big shock for Putin. He put it all in the economic sense that Europe will falter (Photo: REUTERS)
I would venture to make a prediction when the Russian economy will cease to exist in its current form
Now more and more news is coming, indicating that the situation will develop in this direction and at a rapid pace. And without revenue, the Russian Federation will be forced to stop the war (very costly event) and will be forced to withdraw from Ukrainian territories. Without money, the Russian Federation will not be able to support the Belarusian regime, and its own too. Because of this, serious political reshuffles will begin in Moscow. Perhaps the case will also end with the resignation or overthrow of Vladimir Putin.
On December 5, the Western embargo on oil supplies will come into effect. India and China will gradually join the embargo. Like this, Europe is cut off from Russian oil. Chinese refiners have reduced purchases of Russian oil.
Meanwhile, the OPEC countries (such an oil cartel), looking at everything that was happening, announced that oil production, apparently, should be increased. The world understands that it is impossible to rely on Russia in the energy issue and is taking measures to prevent sharp imbalances and price increases. Russia has not been banned from trading in oil, it has been allowed to sell oil without profit, at zero. The oil industry will work, the tankers will be paid, but the Russian Federation will not receive much profit and will not be able to spend it on the war.
Putin and his ministers unanimously announced that they would not comply with this request. They declared that they would not supply oil to those countries that applied the oil price cap principle. But in this case, there will be no one to sell oil to.
The oil embargo against the Russian Federation leads to a sharp drop in world oil prices.
