Do price caps work?
Did price caps ever work?
Is the construct as simple as sending a purchase order to Russia w/ stamp, 'take it or leave it'?
If 'no' and 'no' and 'no', then does 'anti-Russia' team have a strategy or are we doomed to succumb to marching Russians?
Is the world ex-anti-Russia throwing Ukraine under the bus? If so, when will Team Nato tee up boots on the ground to get the job done? Or the Team shall do Afghanistan II?
Team Biden needs to lead by action instead of cowering behind words.
Watched the 2nd of the curated video Message 33891932 and am saddened that Ukrainians has to fight the Russians without material boots on the ground help from Nato, and do so using Toyota and Mitsubishi pickups
bloomberg.com
Germany Open to Discuss Russian Oil Price Cap, Scholz Aide Says
Birgit Jennen
23 June 2022, 00:15 GMT+8
Germany would support having an international debate about imposing price caps on Russian oil imports, according to Joerg Kukies, Chancellor Olaf Scholz’s top economic aide.
“We are open to having this discussion on the international level and can definitely foresee this making sense if it’s implemented,” he said Wednesday at Bloomberg’s Future of Finance event in Frankfurt.
A key question, Kukies said, is whether the rest of the world will agree to it and participate. In light of the European Union’s own decision to halt Russian oil imports after the end of this year, the issue of a price cap “is a bit of a moot question” domestically, he added.
The US push to force Russia to sell its oil more cheaply comes amid concerns that a surge in energy prices has softened the blow from the international sanctions by bringing Moscow enough revenue to stave off economic collapse.
Some European officials, however, are wary of the idea, as it would likely require the EU to reopen the legal text of its latest sanctions package, which took weeks to approve.
Read more: A ‘Price Cap’ on Russian Oil -- What Would That Mean?: QuickTake
While Kukies appeared less concerned about how an oil price-cap would sit with the German government, he condemned Russia’s “blatant violations” of contracts to supply gas, and warned there could be risks to his country’s economy.
“We are working hard to mitigate the impact, but we shouldn’t be naive: it’s very obvious that there is an impact,” he said.
The government has been pushing to increase gas reserves in recent months to be in position to weather the winter. The task has become increasingly fraught after Russia slashed flows through its main link to Germany.
Daily fill rates fell by almost half on Wednesday. At the current rate, it would take more than 100 days to reach the government target of 90% capacity from the current level of 58.4%, according to data from Germany’s network regulator.
Consumers “would be protected the most” if the government was forced to ration energy, but he declined to comment on what industries would be affected.
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