US President Donald Trump said Friday that Russia had agreed to immediately supply more than 300,000 tonnes of diesel to US and global markets in an effort to cut fuel prices before November’s midterm elections. The move marks a stunning change of policy after the US and its allies hit Russia with waves of sanctions over its invasion of Ukraine.
My guess is that this is state level money and reputation laundering. Putin needs money/resources to keep his war going. Trump needs lower prices on the diesel pumps.
If the USA actually buys from Russia, I wonder what currency they will use.
I don’t know whether this launders Putin’s reputation, but it won’t lower prices. There may be some nervous market volatility for a day or two that looks to bring the price slightly down, but it won’t last for longer, definitely not until the U.S. midterms (3 November) imo.
Not Putin’s reputation but Trump’s. Elections are coming in the US and people are pissed about fuel prices. Trump thinks this makes it look like he’s is doing something about it.
I know, but this won’t help imo. The price effect will be in a range so low that it is not measurable.
It won’t help prices, but it doesn’t have to. It will generate talking points and sound bites, and as we’ve all seen, that’s all a frightening number of Americans seem to need to be convinced to vote for a con man.
But who knows? Maybe the kayfabe is finally broken?