From the article:
“Strongest sanction” against Russia “is in the hands of the United States” because U.S. could sell crude from the Strategic Oil Reserve and depress prices, investor George Soros says during panel discussion in Berlin.
Brilliant, brilliant strategy!
Putin’s reacts:
Flashback:
– USDA: No strategic grain reserves … they sold them!
– The U.S. Has No Remaining Grain Reserves
– Soros Has A Modest Proposal For How To Punish Russia (ZeroHedge, March 20, 2014):
Having warned of Putin’s blind-spot (and Merkel’s position of potential leadership) in the Europe-US-Russia debacle, billionaire investor George Soros has some ideas on how to punish Russia (and some warnings on the consequences)…
- *SOROS SAYS PUTIN ‘ACTING OUT OF WEAKNESS’
- *SOROS SAYS UKRAINE CRISIS IS LEADERSHIP CHANCE FOR MERKEL
- *SOROS SAYS MERKEL’S LEADERSHIP HAS GROWN IN UKRAINE CRISIS
- *SOROS SAYS U.S. SELLING OIL RESERVES WOULD HURT RUSSIA
- *SOROS SAYS U.S. HOLDS ‘STRONGEST SANCTION’ WITH OIL RESERVE
Via Bloomberg,
Russian President Putin sought to prop up flagging support at home in a move that “turned him adventurous abroad and repressive at home,” billionaire investor and Chairman of the Open Society Institute George Soros said today during a podium discussion in Berlin.
Soros also said:
Putin “acting out of weakness” following sag in domestic popularity since beginning second term as president
On Merkel: Ukraine crisis “an opportunity for the chancellor to emerge as the leader of a united Europe, not just a chancellor preoccupied with the national interests of Germany.”
And added that the US still holds the biggest bazooka…
“Strongest sanction” against Russia “is in the hands of the United States” because U.S. could sell crude from the Strategic Oil Reserve and depress prices, investor George Soros says during panel discussion in Berlin.
Says Russia needs oil at $100/bbl “to balance the budget”
The problem, Soros notes, is…
“Task is to help Ukraine rather than just punishing Russia because just punishing Russia will push Putin further into a corner and as a wounded animal he would strike back and it would be a lose-lose proposition.”
So will Obama shoot himself in the foot?
Soros said it right. I think that the rise of Russia in recent years is all due to the Iraq war that pushed up oil price. If crude oil price is pushed down to $20/bbl, Russia’s economy would collapse.