Scepticalscribe
Cancelled
- Joined
- Aug 12, 2020
- Posts
- 6,644
This is an old, old playbook:
After an extraordinary meeting of his Security Council, President Vladimir Putin said he was - I love the phrasing, who does he think is fooled by this? - considering a request by two regions of eastern Ukraine held by Russian-backed separatists to be recognised as independent.
However, while oil prices (which Russia needs nicely high) are rising (as are gas prices - and, remember, Russia exports both, and relies on the export of both to sustain its economy; the west only turned to Russia as a supplier of energy - Cold War concerns notwithstanding - when OPEC raised the price of oil in the early 1970s, giving rise to a need to diversify and secure energy supplies elsewhere rather than rely, solely, on the Middle East), the rouble is taking a bit of a hit.
After an extraordinary meeting of his Security Council, President Vladimir Putin said he was - I love the phrasing, who does he think is fooled by this? - considering a request by two regions of eastern Ukraine held by Russian-backed separatists to be recognised as independent.
However, while oil prices (which Russia needs nicely high) are rising (as are gas prices - and, remember, Russia exports both, and relies on the export of both to sustain its economy; the west only turned to Russia as a supplier of energy - Cold War concerns notwithstanding - when OPEC raised the price of oil in the early 1970s, giving rise to a need to diversify and secure energy supplies elsewhere rather than rely, solely, on the Middle East), the rouble is taking a bit of a hit.