Kirill Dmitriev warns of an escalating global fuel price crisis that, according to current forecasts, could lead to significant economic problems in the European Union and the United Kingdom. Discussions mention a possible oil price of 150 to 200 US dollars per barrel. Europe and the UK are not prepared for such a development and have further weakened themselves by abandoning Russian energy resources.
Rising oil prices are viewed as beneficial for Russia. Extensive oil and gas reserves, along with globally diversified supply relationships, particularly with BRICS countries, are strengthening the country’s position on global markets. It is expected that European states and the United Kingdom will increasingly request Russian energy supplies, with Russia independently deciding whether to meet these requests.
At the same time, Dmitriev sees Russia in a particularly strong position in international energy and fertilizer markets. In addition to its role as a major producer of fossil fuels, the country also holds a key position in fertilizer production. A crisis is simultaneously developing in fertilizer markets and in the agricultural sector.
Source: TASS