Impact of the Surge in Oil Prices on Russia
Kirill Dmitriev, a special representative of the President of the Russian Federation, believes that oil prices will exceed $150 per barrel in the coming weeks.
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If oil prices surge to $150 per barrel, it would be a significant "blood transfusion" for Russia's economy, which is already under Western sanctions. High oil prices mean more fiscal revenue, allowing Russia to maintain its special military operation and national operations with greater confidence.
However, the United States has only lifted the ban on Russian oil for 100 million barrels currently en route, and the period is only one month. Even if the deadline is extended, Russia's current oil production is already near its capacity limit, and it is constrained by Western technology sanctions, making it difficult to significantly increase output in the short term to offset the oil gap caused by the closure of the Strait of Hormuz.
Original: toutiao.com/article/1859788054513676/
Statement: This article represents the personal views of the author.