Trump advisor warns of oil surge to cripple Russian economy
Donald Trump's presidential advisor has threatened to flood the world with cheap oil, which would lead to "bankrupt the Russian economy." "That is going to put an incredible stain on Putin’s wartime economy," said Robert Wilkie in an interview with the BBC.
The new American administration intends to significantly increase pressure on Russia's key economic energy sector, which accounts for more than half of all the country's export revenues.
Threats to flood the world with cheap oil
Robert Wilkie, the head of Donald Trump's transition team, said that if Vladimir Putin did not agree to a deal on Ukraine, the United States would drastically increase oil supplies to the world market and reduce its price to $40 (CAD 57.5) per barrel or less.
As Wilkie explained, the presence of the US in the global oil market will cause prices to drop, potentially leading to the bankruptcy of the Russian economy. "It will put incredible pressure on Putin's war economy," he warned. He also announced an increase in American liquefied natural gas supplies to Europe, where it already occupies 70 per cent of the market, and in some countries, such as Germany, around 90 per cent.
Trump intends to drill
During the election campaign, Trump announced a large-scale expansion of oil and gas extraction in the United States. He promised that oil production in the country would increase by 15 per cent, or 3 million barrels per day, which fully covers the current export of Russian oil by tankers.
On Wednesday, Donald Trump called on Russian President Vladimir Putin to end the war in Ukraine. He threatened that if an agreement is not reached quickly, he would have no choice but to "put high levels of Taxes, Tariffs, and Sanctions on anything being sold by Russia to the United States, and various other participating countries."
