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Tuesday, May 30, 2023

Putin threatens to cut oil production above price cap

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President Vladimir Putin has said Russia will set a price cap on oil exports and will not sell oil to countries considering cutting oil production.

On Monday, the G7, European Union and Australia imposed a price cap of $60 a barrel on Russian oil to limit Russia’s ability to finance the war in Ukraine.

At a press conference after the regional summit in Bishkek, Kyrgyzstan, Putin said: “I already said that we will not sell to countries that make such decisions.

He said he would “consider production cuts if necessary” and called the price cap a “ridiculous decision” that would be “harmful to global energy markets”.

Putin also mentioned several other issues at his press conference. Here’s a summary of what he said:

In response to a reporter’s question, the Russian leader asked, “Who is Yashin?” was sentenced to eight and a half years in prison. Yashin was indicted after discussing evidence of Russian atrocities committed in the Ukrainian city of Bucha, north of Kyiv, questioning the Kremlin’s explanation that such reports were fabricated as a “provocation” against Russia. threw Putin said he was wrong to question the court’s decision.
Putin said more prisoner exchanges were possible between the United States and Russia and that liaisons between the two intelligence agencies would continue. He made the remarks a day after US basketball star Britney Griner was traded for arms dealer Viktor Bout. I was. Russia continues to hold former US Marine Paul Whelan, who was convicted on espionage charges in 2020.
Putin said Russia, unlike the United States, does not have the authority to launch a first-strike nuclear strike, but Russia’s advanced hypersonic weapons ensure that it will be able to respond vigorously if attacked. said. The Russian leader has admitted that Moscow is having trouble getting equipment and clothing for the hundreds of thousands of soldiers it has recruited to fight in Ukraine in recent months. He said some of the problems surrounding the care of the 300,000 men called for mobilization in the month are now being eased.
Putin said a peace deal to end the conflict in eastern Ukraine that began in 2014 was an attempt to “give Ukraine time to build”, commenting former German Chancellor Angela Merkel. “Disappointed” in his defense. Russian-backed separatists occupied parts of eastern Ukraine after Russia annexed Crimea in 2014. The peace agreement was never fully implemented. Putin said Russia would need to reach a peace deal with Ukraine in the future, but feels betrayed by the collapse of the previous Minsk accords. He said he had betrayed Russia and was now sending weapons to Kiev.

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