Russia, one of the world’s biggest oil producers, has faced shortages of fuel crucial for gathering the harvest in some parts of its southern breadbasket and the situation may get worse in coming months, market sources told Reuters.
My first guess, they can’t refine it. Reason for fuel shortage.
That and they’re exporting too much.
That would be my first suspicion. Putin has a war to finance. Needs lots and lots of money, and ammo. Bump up in active military, and bump in merc payroll, increases cash need too. Military vehicles probably running at the highest rate since they bailed out of Afghanistan, burning more fuel. And, in spite of the trappings, Russia doesn’t exactly qualify as a “superpower”, in the economic sense. The oil may not be going to the west, but it’s going to China, and North Korea, for stuff that blows up.
That is going to push the hyperinflation into a high orbit rather quickly.
If Putin does not export the oil, then he must print to pay the army.
Either way, hyperinflation as the year progresses into mid-2024.
This is going to be a cold winter in Moscow. What is the price of Russian NG? Is there enough of a supply?
ADDING, I needed to do a bit of goggling…lol
This was the result.
First, if Russia does not move any NG does that mean they need to shut down their production? Someone here would know that. I vaguely remember that was mentioned.
This stuck out…seems Erdogan needs the West more than he needs Russia. The Western Cartel can organize things like that. Turkey we can assume will be supplied with energy.
Armenia desperately needs hyperinflation and Putin’s death in Russia.
The government is now in Putin’s crosshairs no doubt.
The US will welcome Armenia to the West.