"Washington Post"Shutdown of Russian oil will cause serious damage to the American economy

The Washington Post, citing representatives of the White House and American economists, confirmed that the cessation of Russian oil supplies would cause serious damage to the American economy and would represent an additional strategic cost of sanctions.

According to the newspaper, the US administration has stepped up its efforts to increase the volume of natural gas exports to Europe, but there are actually no clear solutions to the problem of providing European countries with energy in the required volume.

The newspaper pointed out that White House officials “are increasingly concerned about the energy crisis in Europe and Moscow’s threats to arrange a harsh winter on the continent.”

She explained that White House officials do not believe that a recession in Europe will necessarily cause a recession in the United States, but the complete cessation of Russian oil exports will hit the American economy hard.

The newspaper added that possible Russian retaliatory actions could exacerbate tensions in the US-European alliance.

She also questioned whether the sanctions imposed by the West on Russia would “survive the acute energy crisis” that has hit the West.

According to experts, according to the newspaper, “The United States announced a ban on the purchase of Russian oil back in March, but American consumers will notice an increase in world oil prices in the event of a complete halt in Russian exports.” A possible complete halt in Russian oil exports will push gasoline prices in the US to record highs.

For his part, Steve Hanke, an economist at Johns Hopkins University, has criticized Western countries’ restrictions on Russia.

He wrote on his Twitter account: “Russian Gazprom will receive gas revenue from China in rubles and yuan and will abandon the euro, and Western sanctions will strengthen relations between Russia and China, and this is another strategic price of sanctions.”

Source: “News”

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