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Are we trying to fight Russia through commodity prices?

Posted on 27 March 2014

Although Russia has shown its might through hosting the Winter Olympics, followed by its annexation of Crimea, it’s still in a precarious position because of its reliance on taxes collected from the oil and natural gas industry.
The country receives over half of its revenue from oil taxes, and the country needs Brent crude prices of over $110 to balance its budget this year. In the face of Russian aggression, is the United States subtly pressuring Russia by threatening to flood the crude oil market, leading to falling prices? Additionally, is this week’s conditionally authorized approval of Jordan Cove LNG facility to non-Free Trade Agreement countries another warning shot to Russia?………………………………..Full Article: Source


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VRS - who has written 39856 posts on Opalesque Commodities Briefing.


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