US President Joe Biden says that the US energy crisis can be solved soon when Russia sells its oil at a discount, which the Kremlin vehemently denies. The Kremlin shot back that the US leader asserting he was very mistaken and said Russia would not sell the oil at a loss.
No Cheap Oil for the US, Allies
Kremlin spokesman Dmitry Peskov made it clear that oil should earn a profit, and the US dictating a discount is preposterous when it and the EU prohibit nearly all oil imports, reported RT.
He responded to remarks made by US President Joe Biden, who suggested on Wednesday that due to the EU oil embargo.
Russia will be forced to sell its oil at a steep discount to foreign buyers, according to Biden, which is a wrong assumption.
Biden stated there would be an overpowering need for the Russians to sell it, and it would be purchased at a significantly lower price than the market is currently generating.
According to Peskov, this is unlikely to happen because world oil market forces might work against it.
He also stated that all sales would be profitable, even though demand may fall in one location while increasing in another. Supply chains will reorient as parties seek the best trade conditions, noted the Press United.
The EU agreed to cut most Russian oil imports this week, with the bloc's leadership promising to halt 75 percent of trade by the end of the year and 90 percent by the end of the year.
In early March, Joe Biden prohibited all hydrocarbon imports from Russia, resulting in an energy crisis, but Moscow said no to selling cheap oil.
Russian oil producers have diverted supplies to Asian markets like India, giving significant discounts to market crude prices, which have been rising since mid-2020.
White House Wants Cheaper Source of Crude
US President Biden may not get cheap oil when an EU oil embargo lowered the price last Wednesday.
He spoke to the media about the unavailability of baby milk, expensive goods, and higher gas prices. He tried to convince Saudi Arabia to step up oil production but was ignored, noted the NY Post.
Claiming credit for trying to prevent US gas prices, which are already at all-time highs, from increasing even further.
The food shortage is blamed on the Ukraine conflict, with high energy prices that his administration alleged as Russia's fault.
About the sixth sanction on Russia, he added that the EU is going all out to punish the Kremlin for invading, but it's not going well for them.
Many American voters are presently most genuinely worried about rising prices. Political experts estimate that Biden's Democratic Party will be annihilated at the polls in November only if his administration can rapidly constrain rising prices.
The White House has repetitively faulted Russia, President Vladimir Putin in particular, for the persistent issues. Even invented the term "Putin's price hike" to show why American middle-class families are trying to find it more challenging to make ends meet each month.
But the Kremlin said prices had risen before February 24 due to a disrupted supply chain due to Covid-19. Also, it was the Biden administration as the cause but denied it.
This energy crisis that Joe Biden hopes can be solved by getting cheap oil by pressuring Moscow which resulted in another slam of the US leader.
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