Putin: Europe’s Russia sanctions tantamount to ‘economic suicide’ | Oil and Gas News

By searching for to section out Russian vitality provides, Europe will solely damage itself, Russian President Vladimir Putin warned.

Russian President Vladimir Putin on Tuesday mentioned the oil sector was present process a “tectonic change”, however claimed Europe can be committing “financial suicide” with its sanctions on Moscow over Ukraine.

By searching for to section out Russian vitality provides, Europe will solely damage itself, Putin mentioned, urging state officers to make use of “ill-thought-out” strikes by the West to the nation’s benefit.

He instructed an vitality assembly that Europe would see increased vitality costs and better inflation because of its actions.

“After all, such an financial suicide is a home affair of the European international locations,” Putin mentioned.

After the Kremlin despatched troops to Ukraine on February 24, the West has launched unprecedented sanctions towards Russia.

Western international locations have displayed shut coordination of their bulletins of penalties, however haven’t moved on the identical tempo in terms of Russian oil and gasoline.

Putin is hoping to redirect provides to “pleasant” international locations as European nations search for methods to wean themselves off Russian vitality.

Putin mentioned Europe’s “chaotic actions” aren’t solely damaging its personal economic system, but additionally resulting in a rise in revenues from oil and gasoline for Russia.

“Adjustments within the oil market are tectonic in nature and doing enterprise as common, in response to the previous mannequin, appears unlikely,” he mentioned.

“Within the new circumstances, it is vital not solely to extract oil, but additionally to construct your entire vertical chain resulting in the ultimate shopper,” he added.

Putin mentioned the federal government will assist corporations change their enterprise fashions.

The Kremlin chief mentioned the state would assist enhance logistics in addition to the deep processing of hydrocarbons and guarantee funds in nationwide currencies.

What’s the way out of Sri Lanka’s economic crisis? | Politics

Video Period 24 minutes 15 seconds

From: Inside Story

President Gotabaya Rajapaksa has declared one other state of emergency. 

The island nation of Sri Lanka is in disaster. There have been meals and gasoline shortages for weeks and energy cuts have develop into the brand new norm.

Many say they’re struggling to get by and so they blame the federal government for mishandling the financial state of affairs – calling on President Gotabya Rajapaksa to resign.

There was a normal strike on Friday that shut down a lot of the nation.

In response, the president’s workplace re-imposed a state of emergency – saying it was wanted to “guarantee public order”.

However what introduced the nation to this unprecedented state of affairs?

Presenter: Adrian Finighan

Visitors:

Bhavani Fonseka – Senior researcher and lawyer with the Centre for Coverage Options

Ahilan Kadirgamar – Political economist and senior lecturer on the College of Jaffna

Jehan Perera – Government director of the Nationwide Peace Council of Sri Lanka