This mistake by Biden would have increased Moscow’s revenue.
Published on 19.1.2023
Sputnik reports that President Biden’s energy policy is playing into Russia’s hands, says Washington Times author Don Ritter, a former US congressman.
“Despite a partially enforced embargo (or perhaps because of it), oil, gas and coal sales generate significantly more revenue [pour la Russie] today than in 2021, with revenues raised by another third estimated for 2022.”
Mr. Biden is helping to ensure high energy prices by refusing to increase America’s vast energy-generating capacity, the author criticizes him. According to him, American oil and gas could replace those of Russia worldwide.
“The United States has the world’s largest reserves of oil, gas and coal,” he adds.
Russia adapts
According to Russian Deputy Prime Minister Alexander Novak, Russian budget revenues from the oil and gas sector will increase by 28% in 2022.
To counter Russia, Western countries stopped accepting Russian oil transported by ships and the G7 countries, Australia and the EU set a ceiling on the price of Russian oil transported at $60 a barrel.
During the transition period, before the entry into force of these sanctions, Russia managed to redirect a large part of its exports to alternative markets.
