And destroys the Russian economy for decades. Russia cannot win a oil price war it is a lose lose end result.
The one thing Russia does have that is economically important is their natural gas exports, but watch Putin screw that too.
As others have expressed this may result in Putin starting a war in the middle east.
The one thing Russia does have that is economically important is their natural gas exports, but watch Putin screw that too.
For Russia, what’s more important than the gas is who is the customer. IF the EU countries decide Putin is an unreliable business partner and seek their gas elsewhere all he has left is dancing with the chicoms. I saw a report Italy is already looking at Tunisian gas. Lithuania is already off to get off the Russian NG grid.
At some point, babysitting Russia just isn’t worth the trouble. We seem to be reaching that area quickly.
I wouldn’t consider that an accident, either, though I don’t think it follows on economic grounds except perhaps as a pretext.