Trump didnt impose tariffs on Russia but resulting oil price drop is hurting its economy regardless

https://kyivindependent.com/trump-spares-russia-from-tariffs-but-oil-price-plunge-could-wreck-war-economy-regardless/

by jonfla

8 comments

  1. Trump will be getting angry calls from Putin.

    Too bad for him, the global oil market is chained to US domestic gas price so higher oil prices will hurt his voters and lower oil prices will hurt his master!

  2. Trumps’ love affair with the terrorist putin is still strong. Apparently he and Steve Bannon believe US and russian rapprochment is a holy alliance!!!!!

  4. This was my theory yesterday when he removed the tariffs. I bet he got an angry call from Putin and had to come up with a story of why he backed down on the tariffs.

  5. By opening the taps and ruining Russia’s export trade, Saudi Arabia proves that it had the power o end the war all along.

  6. It’s all pretty clear for those with eyes to see. The negotiations were held in Saudi Arabia, the de facto head of OPEC. Trump said he could pull economic levers if Russia didn’t agree to a ceasefire. Last week, tariffs and a drop in the markets commanded headlines, but what snuck largely unnoticed is that OPEC announced after “Liberation Day” (lol), they were canceling planned production cuts. So while Russia may not see tariffs out of last week, the rest of the world’s top oil producers are about to put a severe squeeze on Putin. Breakeven for Urals crude is about $50/bbl and today it’s hovering around $52/bbl compared to $77/bbl in January. And this doesn’t yet account for the potential of a 25% secondary tariffs similar to those imposed against countries buying Venezuelan oil. While not in place yet, it’s a threat dangling over Putin’s head. So while I don’t think the tariff announcements’ primary focus was on hammering Russia, I don’t see it as an unintended consequence.

  8. I didn’t realise how genuinely illiterate and thick trump is

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