Stricter measures against Russia’s oil industry could lead to pressure on the Kremlin to end the war in Ukraine.
According to Keith Kellogg, who is soon to be the US President’s peace envoy, stricter measures against Russia’s oil industry are needed. He told FOX News that Russia earns billions from oil sales and that battlefield victories alone will not force them to stop the war.
Kellogg said that reducing Russia’s oil revenue to $45 per barrel could weaken their financial situation and make them more willing to negotiate a settlement. This is Russia’s breakeven point, where they are no longer making a profit.
Russia’s President Vladimir Putin has been saying that his country is ready for talks with the US. He described President Donald Trump as having a “pragmatic and trusting” relationship with Moscow.
There are concerns about Russia’s economy, as reported by Reuters on January 23. Sources close to the Kremlin say that Putin is worried about their economic situation.
