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Economist: G7 Cap on Russian Crude Would Deepen Global Energy Crisis, Force US & EU Into Recession_我的网站

A |     Analysts at JP Morgan Chase & Co. warned clients this week that global oil prices could reach a “stratospheric” $380 per barrel if Russia decides to slash its crude output in response to the multiple layers of penalties imposed by the US and the EU.,Natasha Kaneva and other JP Morgan analysts highlighted that Russia’s economy could withstand Moscow cutting crude oil production by some 5 million barrels without disrupting its economy.,“The most obvious and likely risk with a price cap is that Russia might choose not to participate and instead retaliate by reducing exports,” the market analysts wrote, as reported by Bloomberg.,Due to much of the world depending on Russia for oil, even cutting production by 3 million barrels could force benchmark London crude prices to swell to $190 per barrel.,“It is likely that the government could retaliate by cutting output as a way to inflict pain on the West,” the memo floated. “The tightness of the global oil market is on Russia’s side.”,Biden Blames 'Putin's Tax' for Rising Food, Gas Prices in US During Speech on Record Inflation10 June, 18:22 GMT,As G7 leaders moved to ban imports of Russian gold in support of Ukraine this week, many experts have begun to weigh in on the practicality, likelihood, and effectiveness of establishing fossil fuel price caps.,Dr. Mamdouh G Salameh, an international oil economist and visiting professor of energy economics at ESCP Europe Business School, has argued that Biden and other Western leaders have “lost all sense of direction” and are on a path to economic despair by continuing to exacerbate the global oil crisis.,“They are letting their enmity cloud their judgment,” Salameh told Sputnik.,"Every time Western nations talk about banning Russian oil or capping it, oil prices surge further forcing Western customers to pay steeper energy bills while [Russian] President [Vladimir] Putin laughs all [the] way to the bank," he added.,Rather than playing by other nations’ so-called rules, Russia could simply nix its exports of crude oil and petroleum products to Western nations and maintain oil sales to China and India, “both of which account for more than 50% of Russia’s crude exports,” according to the economist.,“This will certainly push Brent crude oil prices beyond $140 a barrel, deepen the global energy crisis facing the world and plunge Western economies into damaging recession,” Salameh emphasized.,“Western nations don’t seem to realize how quintessential Russia’s oil exports are to the global oil market. That is why they have avoided so far banning Russian oil exports and are looking for alternative ways of cutting Russia’s oil revenues.”,US Markets Lost up to 30% This Year Amid Soaring Inflation, Fuel Prices, Sanctions Backlash1 July, 16:59 GMT,“Even without any new Western sanctions and more follies, the single most important problem that is adversely impacting global supplies and prices is the ever-shrinking global spare oil production capacity which is running very low,” Salameh said. “This will keep the market on edge and also send crude oil prices in a steep upward trajectory soon.”,The economist pointed out: “The United States currently imports more than 9.1 mbd of crude oil and this could rise to 9.24 mbd before the end of the year. This means that it is more vulnerable to an oil price shock than other major economies.",For his part, Dr Gal Luft, co-director of the US-based Institute for the Analysis of Global Security and a senior adviser to the United States Energy Security Council, believes that JP Morgan's forecast is a "hypothetical scenario", and oil will never come to such price level simply because the "world economy will collapse way earlier.","Even at $159 a barrel we will see massive demand destruction and global depression. The G-7 leaders are behaving like a bunch of drunken sailors on the deck of a ship in the midst of a storm. They are so consumed with rage and vindictiveness that they cannot see the situation clearly and act according to their nations’ self interest. The summer months will face G7 leaders with their voters and they will get an earful. There will be protests and perhaps even violent ones. No democratically elected leader can outsmart the rules of economics," Dr Luft pointed out.。

B |     7月24日上午，“福来浙里更出彩”——2026年度浙江福彩“走进福彩公益金资助项目”系列主题活动第二站在义乌举行，60余名热心公益的社会公众代表和省、市媒体记者代表、福彩一线销售员代表等走进义乌市赤岸镇养老服务中心，亲眼见证福彩公益金在这里的使用情况。

C | 义乌市民政局及省市福彩中心有关人员共同参与了此次活动。活动开始前，参与活动的代表们走进养老服务中心的住宿楼、食堂以及认知障碍照护专区，实地了解院内老年人日常起居和照料服务情况。据介绍，2025年，义乌市民政局使用福彩公益金资助老年人福利类项目63个，总计支出6000余万元，此次所走进的义乌市赤岸镇养老服务中心正是其中之一。

D | 自2022年以来，该中心累计使用福彩公益金90余万元，用于支持基础设施升级改造以及相关照护服务，目前入住老人最高年龄103岁，90岁以上老人有45名，可为赤岸及周边镇街老年群体提供医、养、护为一体的全方位服务。本次活动聚焦丰富老年群体精神文化生活，浙江福彩为院内长者打造了文艺展演、互动游戏相结合的沉浸式公益体验。戏曲、歌舞节目轮番上演，知识问答、休闲互动区有序开放，老人们踊跃参与各类趣味活动，在轻松氛围中舒展身心。同时，省福彩中心现场捐赠价值 5 万元慰问物资，包含全新轮椅、成套床上用品等实用物资，切实解决院内老人日常起居需求。

E | 截至目前，“福来浙里更出彩”——2026年浙江福彩“走进福彩公益金资助项目”系列主题活动已开展两场，接下来还将在其他10个地市陆续开展，下一场活动将于7月28日在嘉兴开展，我们欢迎更多热心公益的社会大众参与到活动中来，共同感受公益福彩的温度，直观见证福彩公益金为民惠民的实际成效。

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