This doesn’t compute. Is Western Europe going to freeze in the dark so they can boycott Russia? I really don’t think so.
This doesn’t compute. Is Western Europe going to freeze in the dark so they can boycott Russia? I really don’t think so.
Putin turns of the power, Roman loses Chelsea. It isn’t difficult.
The real question is willlthe European elite forgo the Russian bribe checks so they can boycott Russia? The careerist power broker class in Europe is apparently even more rotten than the beltway crowd here. The German FM is ready to jet off to Sochi for the G8 meeting as Putin is invading his neighbor.
The attitude we are seeing is a flat out betrayal of eastern Europe and a green light for Putin to Finlandize and/or roll tanks over the entire FSU.
Western Europe can buy their gas or oil from anywhere in the world. Contracts don't mean anything. If they pony up a few extra % points, they can buy what they want. Do you really think oil-producing countries that routinely nationalize oil and gas fields will balk at tearing up existing supply contracts to divert fuel to Europe for a few dollars more per barrel or mcf?
The reason Russia's stock market tanked 12% is because domestic investors understand that the EU, with its $32K average per capita income, is relatively insensitive to fuel price increases whereas Russia ($13K per capita GDP), whose economy is roughly 50% or more oil and gas dependent will have issues dealing with fuel price decreases resulting from a Europe- or worldwide trade embargo. Russia will have to sell its oil and gas at cut rate prices to China and India, which were said to be offering a steep discount to the market price for Iranian oil, while sanctions were ongoing.