Today, the ambassadors of the EU countries approved the eighth package of sanctions against russia, which, in particular, includes limiting the price of oil to third countries. It is planned to present it to the general public already tomorrow, October 6. But, probably, the kremlin has decided to take the fight in the global oil war.
“OIL MANIPULATIONS ATTEMPT”
Today, OPEC countries (the Organization of the Petroleum Exporting Countries) decided to cut oil production by 2 million barrels per day. As analysts in the energy sector report, such a decision is quite rational, because due to a significant reduction in oil supply, oil-producing countries are trying to raise prices for raw materials and not to lose profits.
However, russian propagandists “spice up” this news with the thesis that “due to such a move, the Saudis seek to anger the USA and help russia.” But in fact, such a statement has nothing to do with reality, because “save earnings” and “help russia” are not the same concepts at all.
“EUROPEAN SANCTION TRUMP CARD”
However, there is another aspect of the economic war against russia that has not been engaged yet, which could hit moscow hard. Moreover, it depends on a participant who is rarely mentioned in the geopolitical game – namely, Greece. But why is the role of Greece so important?
As you know, russia continues to receive the lion’s share of its profits from the sale of oil, the price of which the collective West seeks to limit. But R. Brooks, the leading economist of the Institute of International Finance, emphasized another fact a long time ago: before finding buyers for its oil, russia needs to find carriers. And this is where the Greeks, who transport as much as 60% of russian oil transported by sea, enter the geopolitical game.
The share of Greece in this segment has doubled since the beginning of the russian invasion of Ukraine. Greek international shipping magnates say that if they don’t carry the oil, someone else will. But R. Brooks holds the opposite point of view and says that limiting the transportation of russian oil by Greek ships will be a very serious blow to the russian economy.
“WINNING FINAL?”
In general, russia is currently trying to saturate the global hydrocarbon market with its own manipulations and disinformation to maintain the image of an “important player” and create the illusion of “victorious victories.” However, this geopolitical game is still far from over and its ending does not bode well for russia.
