Only a drop in world oil prices to USD 40 per barrel will deal a serious blow to the economy of the aggressor country, russia, in the medium term.
Danylo Hetmantsev, a member of the Verkhovna Rada from the Servant of the People faction, head of the parliamentary committee on finance, tax and customs policy, expressed this opinion in an interview with the Ukrainian News agency.
"A drop in oil prices to USD 40 will significantly hit the Russian Federation in the medium term, that is, such a price should hold for at least several years. Then we are approaching a situation close, if not to collapse, then to a tangible economic crisis in the Russian Federation," he said.
Hetmantsev explained that with oil prices around USD 70 per barrel, russia is actually not in danger, as it covers its military budget with oil revenues.
"The sanctions on the shadow fleet are certainly having an impact. The fact that some Chinese and Indian companies are refusing to supply oil is having a negative impact. But these are all small bites," Hetmantsev added.
In his opinion, the blow to the russian economy will be significant only if the low oil price lasts for several years.
As the Ukrainian News agency earlier reported, Oleksandr Merezhko, a member of the Verkhovna Rada from the Servant of the People faction and chairman of the parliamentary committee on foreign policy and interparliamentary cooperation, believes that U.S. President Donald Trump may impose sanctions that will be devastating for russia and its dictator vladimir putin.
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