Many reasons why price cap on Russian oil exports cannot work

The United States and its allies are trying to impose new restrictions on the Russian economy, but like attempts so far, this one too looks fated to fail

Shirin Akhter and C Saratchand

Peoples Dispatch | September 16, 2022

(Photo: Wikipedia)

In their ongoing economic war on Russia, the United States and its allies propose a price cap on Russian oil exports. The oil price cap idea promoted by US Treasury Secretary Janet Yellen suggests that oil-consuming nations organize into a buyer’s cartel to limit Russia’s revenues from oil exports. This proposal follows previous measures against Russia, which have not dented its economy to the extent that it would be induced to change its posture (as the US and its allies desire) concerning the conflict in Ukraine.

Instead, the direct restrictions placed on Russian exports, principally of primary commodities such as oil and natural gas, have increased their world prices. They are so high that Russia’s export earnings have increased even if the volumes of some export have declined.

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Having a Queen Was Stupid; Having A King Is TOO Stupid  —  Notes From The Edge Of The Narrative Matrix

Caitlin Johnstone

I can’t stop laughing at the fact that we have a King now. “Hello I am the actual, literal King. Please bow to me and put a crown on my head.”

It gets funnier and funnier the more you think about it. Having a queen was really stupid; having a king is too stupid. People aren’t going to buy it, I don’t care how good your PR is.

Just stop having a royal family; it’s so dorky. This isn’t Lord of the Rings. They’re like fantasy LARPers running around with swords and scepters and crowns and junk, except fantasy LARP props aren’t normally encrusted with priceless jewels stolen from colonized territories.

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Mikhail Gorbachev, a modern Judas

Nikos Mottas

In Defense of Communism | August 20, 2022

“My ambition was to liquidate communism, the dictatorship over all the people. I found friends that had the same thoughts as I in Yakovlev and Shevernadze, they all deserve to be thanked for the break-up of the USSR and the defeat of Communism”

 — Mikhail Gorbachev, 2000. 

Mikhail Gorbachev, the last leader of the Soviet Union, the man who betrayed the dreams and expectations of his own people, has died at 91. His biological death bears little importance. In fact, in the consciousness and hearts of the working class people all over the world Gorbachev had died a long time ago, when he consciously decided to become the gravedigger of the first socialist state in human history, the Soviet Union. 

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Gorbachev exposed: “My ambition was to liquidate communism”

In Defense of Communism | August 20, 2022

“My ambition was to liquidate communism, the dictatorship over all the people. Supporting me and urging me on in this mission was my wife, who was of this opinion long before I was. I knew that I could only do this if I was the leading functionary. In this my wife urged me to climb to the top post. 

While I actually became acquainted with the West, my mind was made up forever. I decided that I must destroy the whole apparatus of the CPSU and the USSR. Also, I must do this in all of the other socialist countries. My ideal is the path of social democracy. Only this system shall benefit all the people. This quest I decided I must fulfil.


I found friends that had the same thoughts as I in Yakovlev and Shevernadze, they all deserve to be thanked for the break-up of the USSR and the defeat of Communism.

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Thou Gorbachev, just like Brutus!

Farooque Chowdhury

Countercurrents | August 31, 2022

Gorbachev’s was a betrayer’s life. He has physically left this earth, hours back; but has kept kilometer posts of betrayal on a land years ago identified as the Union of Soviet Socialist Republics (USSR).

He’s the person who led a band of betrayers to dismantle the USSR – Soviet Union. The biggest country in the world stretching from the Pacific to the Black Sea, from the Arctic to the Caspian Sea, with Tundra, Steppes and the Urals, was created with toil, blood and love of millions of toiling people coming from factories, workshops and farms. It was decades of struggle by the millions. This heroic people defeated armies organized by imperialists from around the world, and defied imperialist blockade. This courageous working people defeated the Nazi marauders.

But the Betrayer Band led by that person named Mikhail Gorbachev stabbed from inside – from inside the party, from inside the state machine.

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Noble Ideas of Visionary Gorbachev Failed Because He Ignored the Deceit, Duplicity and Dangers of Imperialism

Bharat Dogra

Countercurrents | September 01, 2022

Gorbachev set out to reform the Soviet Union and make the entire world a less dangerous place to live in. If he had succeeded, the mad race for weapons of mass destruction would have not only slowed down but, assuming the best possible outcome, there was a real chance of their elimination or the elimination process at least starting. Much better relations of the Soviet Union with the USA-led western nations would have been established and the world would have come out of the danger of being divided in two power blocks. The Soviet Union would have got rid of much of its political and economic rigidities, paving the way for more democracy and economic progress.

Ultimately most of this could not be realized but it was not for lack of sincerity or genuine effort. Anyone who gave top priority to phasing out nuclear weapons and an agenda of disarmament and peace, who also initially made important breakthroughs must be well regarded by history for these aspects at least. The fact that he rose very rapidly within the Soviet Union is evidence as much of his real talents as of the fact that much of what he said appealed to the Soviet people who realized the need for the openness and restructuring he called for.

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Russia-Turkey reset eases regional tensions

M. K. Bhadrakumar

Indian Punchline | August 09, 2022

Russian President Vladimir Putin (R) met Turkish President Recep Erdogan at Sochi, Russia, on August 5, 2022

The 4-hour meeting on Friday at Sochi between President Vladimir Putin and President Recep Erdogan promises to be a defining moment in regional politics. The single biggest takeaway from the Sochi meet is, of course, the “win-win” economic partnership between Russia and Turkey that helps Russia, on the one hand, to continue to interact with the world market circumventing Western sanctions, while, on the other hand, is a boon for the Turkish economy.

Turkey is a member of the European Uinion’s Customs Union and it is no secret that there is a lot of Russian money floating around in the wake of the western sanctions. If that money can be turned into investments in Turkey to set up production units with western technology and market access, creating jobs and revving up the country’s economy, it is a “win-win”. This is one thing.

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China Warns U.S.: Those Who Play With Fire Will Perish By It

Countercurrents | July 29, 2022

Taiwan is a part of China and the 1.4 billion Chinese will not tolerate any challenges to the country’s national sovereignty and territorial integrity, President Xi Jinping told his U.S. counterpart, Joe Biden, in a phone call on Thursday. Xi’s warning comes amid reports that U.S. House Speaker Nancy Pelosi is preparing to visit the island next month, something China has warned her against.

Xi told his counterpart: Those who play with fire will perish by it. It is hoped that the U.S. will be clear-eyed about this.

Xi and Biden spoke via telephone for over two hours on Thursday at a juncture of increased tension between China and the U.S. due to the security situation around the Taiwan Straits and Pelosi’s reported plan to visit the island of Taiwan. Xi spoke with Biden on the phone at the request of the latter.

Xi “highlighted that the historical ins and outs of the Taiwan question are crystal clear, and so are the fact and status quo that both sides of the Taiwan Strait belong to one and the same China,” according to Beijing’s readout of Thursday’s call, also noting that Biden was the one who initiated it.

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China, Cuba Present Jointly-Produced ‘Pan-Corona Vaccine’

teleSUR | June 03, 2022

Cuba and China present the first patent for the Pancorona vaccine, result of the collaboration between both countries in the biotechnological field. | Photo: Twitter @EmbacubaChina

Cuba managed to develop five COVID-19 vaccines and inoculated 95% of its population against the COVID-19 virus, despite the burden of the U.S. blockade. China, likewise, produced a massive amount of two different vaccines for its 1.4 billion-strong population and much of the Third World.


Cuba and the People’s Republic of China jointly filed the first patent for a vaccine against  COVID-19 and its many variants, which could also be effective against several related viruses, the Cuban daily Granma reported on Thursday.

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Geopolitical Update

U.S. to leverage Russia-Ukraine Bloc Against China, Says Blinken

Countercurrents | May 27, 2022

U.S. Secretary of State Antony Blinken said Thursday the Biden administration aims to lead the international bloc opposed to Russia’s invasion of Ukraine into a broader coalition to counter what it sees as a more serious, long-term threat to global order from China.

Media reports including a report by AP from Washington DC said:

In a speech outlining the administration’s China policy, Blinken laid out a three-pillar approach to competing with Beijing in a race to define the 21st century’s economic and military balance.

While the U.S. sees Russia and Russian President Vladimir Putin’s war in Ukraine as the most acute and immediate threat to international stability, Blinken said the administration believes China poses a greater danger.

Read the Full News: https://countercurrents.org/2022/05/geopolitical-update-u-s-to-leverage-russia-ukraine-bloc-against-china-says-blinken/

Sweden And Finland Set To Join NATO

Countercurrents | May 16, 2022

Sweden’s ruling party dropped the country’s historic military nonalignment on Sunday and agreed to join NATO, shortly after Finland’s leaders officially announced they would do the same.

Media reports from Europe and other places said:

The moves were major steps in ending decades of military neutrality for the two Nordic nations, as Russia’s invasion of Ukraine continued to dramatically shift security considerations in Europe.

NATO Secretary General Jens Stoltenberg said their accession would be a “turning point for security” in Europe. “Their membership in NATO would increase our shared security, demonstrate that NATO’s door is open, and that aggression does not pay.”

“We arre now facing a fundamentally changed security environment in Europe,” Swedish Prime Minister Magdalena Andersson said.

Read the Full News: https://countercurrents.org/2022/05/sweden-and-finland-set-to-join-nato/

Japan, EU Agree To Raise Efforts In Indo-Pacific

Countercurrents | May 13, 2022

Geopolitical developments are expanding quickly in various regions of the world.

Media reports from various regions said:

Japan and the European Union on Thursday agreed to step up their sanctions against Russia as leaders from the two sides raised concerns about the war’s impact in the Indo-Pacific, where they seek to strengthen their partnership and increase engagement amid China’s growing assertiveness.

Japanese Prime Minister Fumio Kishida, who held talks in Tokyo with European Commission President Ursula von der Leyen and European Council President Charles Michel, told a joint news conference that Japan supports tough sanctions against Russia and ample support for Ukraine because the war “shakes the foundation of the world order not only in Europe but also in Asia.”

“Security in Europe and in the Indo-Pacific are inseparable,” Kishida said.

The EU leaders said they want to take a greater role and responsibility in the region and agreed to bolster cooperation in a range of areas including digital transformation, renewable energy and climate.

Read the Full News: https://countercurrents.org/2022/05/geopolitical-update-japan-eu-agree-to-raise-efforts-in-indo-pacific/

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