Merz is exactly right. The Chinese, Indians and Turks were all buying Russian oil and defying sanctions before this decision. The only thing Trump’s move of lifting sanctions does is allow Putin to sell his oil at a higher price. It doesn’t change anything in the supply/demand equation which would lower oil price. A catastrophic move just when Putin was really starting to feel the economic pain.

Merz: We discussed Russian oil and gas deliveries with the US President in the G7 this week. Six members clearly said this sends the wrong signal.
This morning we learned the US government apparently decided otherwise.
We think this is wrong — there’s a price issue, not a

Kate from Kharkiv

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