EU about to impose a (certain not to work) price cap on Russian oil

05 October 2022

With many European Union nations . . .

. . . especially Germany — facing a self-induced energy catastrophe, the EU's unelected head nitwits are happily trying to make an already terrible situation worse.

Below reported by RT — thereby bypassing the original Politico article's truth-suppressing Western propaganda deluge — my comments in bracketed italics:

The EU has reached a tentative deal to impose a price cap on the sale of Russian oil to third countries, Politico Europe reported on Tuesday citing diplomatic sources.

EU ambassadors reached an agreement on Tuesday and expect to approve the final text on Wednesday, Politico reported citing seven diplomats – all of whom wished to remain anonymous.

[Inferably because those 7 diplomats recognize that only a bunch of unalloyed twits could (or would) have come up with such an economically unworkable plan.]

The EU has already banned the import of coal from Russia, with an oil embargo scheduled to go into effect in December.

The price cap seeks to block Moscow’s petroleum exports to third countries using EU-registered vessels, as the bloc has already sanctioned all Russian shipping.

Meanwhile, Hungary said it had secured assurances the price cap won’t apply to oil delivered through pipelines.

Anti-Russia measures adopted by the US and its allies have led to a spike in oil prices, leaving Russia with more revenue from exports than before the embargo. The price cap proposed by the G7 seeks to neutralize this.

According to the proposal, EU vessels will refuse to carry Russian oil if it is priced above the cap, the value of which has yet to be determined.

The sanctions have also resulted in the EU facing severe energy shortages. However, the bloc’s leaders have vowed to support Ukraine indefinitely, no matter what.

[National suicide is, we must infer — according to the EU — a desirable thing.]

Moscow has made it clear it will not comply with the price cap scheme, with Deputy Prime Minister Alexander Novak warning that Russia will simply refuse to sell fuel to countries that seek to enforce or abide by it.

[Well, duh.]

Another example — Germany's own economy minister

The demonstrably too stupid to live Robert Habeck said the following — after the US blew up both Nordstream gas pipelines — an act that essentially declared war on the German people.

Here again from RT, due to its reasonably factual approach to this kind of reporting:

The US and other “friendly” gas-supplier states have been profiting from the worsening energy crisis in the EU, Germany’s Economy Minister Robert Habeck said on Wednesday.

“Some countries, including friendly ones, sometimes achieve astronomical prices [for their gas].

He called for more solidarity from Washington when it comes to assisting its energy-pressed allies in Europe.

The EU is facing a tough winter, with gas shortages predicted across the bloc due to drastically reduced Russian supplies amid the Western sanctions and the recent sabotage of the Nord Stream 1 and Nord Stream 2 gas pipelines.

The US likely stands to gain the most from the destruction of the two undersea pipelines . . . .

Washington has for years been trying to convince European leaders to swap Russian gas for its liquefied natural gas, with Secretary of State Antony Blinken calling the sabotage of the Russian pipelines a “tremendous opportunity.”

The German minister is asking Germany's clearly deadly enemy to aid the deindustrializing German economy that the United States wrecked on purpose.

What kind of a cowardly German maggot acts like this?

The moral? — These EU and German ideologues set the standard for . . .

. . . exhibiting incomprehensible levels of society-destroying stupidity.

Who benefits?

PeteFree.com

EU about to impose a (certain not to work) price cap on Russian oil