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France recognizes “boomerang effect” from anti-Russian sanctions

MOSCOW, 1 Nov. The West's proposal to impose a “price cap” on Russian oil to force Russia to sell its energy products at lower prices is unlikely to be implemented, writes historian Gilles Miaeli in an article for the French edition of Causeur.
He argues that sanctions – the West's main weapon against Russia – have largely backfired and hurt the EU economy, and a ban on Russian oil imports in December will also exacerbate the problem, as the price of “black gold” will become too unaffordable for EU countries.

The heads of the G7 support the idea of ​​introducing a “price ceiling” on the cost of oil to combat its growth, which would mean for countries that consume this type of energy carriers the need to create a cartel of buyers, but, according to the historian, in reality such a proposal cannot be implemented.

“After all, if such a thing was possible, why didn't we set such a ceiling many years ago to lower oil prices and disarm O PITCH? We are faced with two incompatible tasks. First: cut the flow of oil revenues that finance Russia. The second is to prevent a catastrophic rise in oil prices at the end of the year due to European sanctions on the purchase of Russian oil,” Miaeli summed up.
Western states are faced with rising energy prices and a surge in inflation due to the imposition of sanctions against Moscow and the On the background of the rise in fuel prices, primarily gas, the industry in Europe has largely lost its competitive advantages, which has affected other areas of the economy.Also, the United States and European countries have faced inflation record for decades.
Read the full text of the article on the InoSMI website >>

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