Oil production. File photoMOSCOW, June 21World markets are expecting a «crazy hard» summer due to the introduction of a partial embargo on Russian oil by the European Union, Business Insider reports citing analyst Victor Caton. “The direct effect of the near future will be an insanely difficult and insanely stressful summer,” Katona said. The authors of BI believe that attempts to deprive Moscow of energy revenues have not had the expected effect. the beginning of the conflict in Ukraine, and thanks to skyrocketing prices, the country receives an estimated $20 billion a month from foreign buyers,” writes Business Insider. given the post-pandemic tourism recovery.
Canada and the United States acknowledged the difficulty of abandoning Russian oil for EuropeThe West stepped up sanctions pressure on Moscow after the start of military operations in Ukraine. Some countries announced the freezing of Russian assets, many brands left the country. The EU has already approved six packages of sanctions, which, in particular, include the gradual imposition of an embargo on the import of coal and oil. The Kremlin called the actions of the West an economic war, the likes of which have not yet been. Russian President Vladimir Putin sees the policy of containing and weakening Russia as a long-term strategy for the West. According to him, the sanctions have dealt a serious blow to the entire global economy, and the main goal of the United States and Europe is to worsen the lives of millions of people. which will bring down the world oil market
