Journal du Club des Cordeliers - Putin's War Will Go Bankrupt if the Oil Prices Drop

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Putin's War Will Go Bankrupt if the Oil Prices Drop

The oil prices can suddenly drop if Saudi Arabia decides to boost production and flood the market with cheap oil. That's catastrophic for the Russian budget and for the war budget in particular. Putin will basically "go bankrupt" for financing the war against Ukraine and the West if the oil prices fall low enough.

But there's a bigger player to that, too. China is a major world player and it is getting Russia more and more dependent on its political will.

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