Biden: Restricting oil prices from Russia will make it possible to reduce gasoline prices in the United States

The US administration, led by President Joe Biden, is pushing among its allies the idea of ​​imposing restrictions on the cost of oil from Russia. The head of the American state believes that the price ceiling for Russian black gold on the international market will reduce the cost of fuel in the country. He spoke about this on July 22 during a meeting with assistants on economics in the White House.

The cost of gasoline has been declining for 38 days in a row

- he said.

Biden is confident that this was made possible thanks to the efforts of his administration, which were aimed at increasing US oil production and redirecting the necessary volumes from strategic state reserves. He stressed that he wants to achieve a reduction in the cost of hydrocarbon raw materials, then the prices for gasoline and diesel fuel will also decrease.

Good news in that it's happening, but it's not going fast enough. There is some progress, but prices are still too high

- he noted.

Biden drew attention to the need to discuss additional steps.
He believes that oil and gas companies in the United States are making record profits, so they should use the money they earn to increase their capacities for extracting and processing black gold.

We will talk about the global price ceiling for Russian oil, which I persuaded our partners to agree to in June at the G7 meeting. This will increase supply and reduce Putin's income. I will do everything possible to reduce prices at gas stations in the US

Biden concluded.

We remind you that on July 21, Deputy Prime Minister of the Russian Federation Alexander Novak saidthat Moscow will stop the supply of crude oil to world markets if its price, due to restrictions, is below the cost of production. On July 22, the head of the Central Bank of the Russian Federation, Elvira Nabiullina, specified that Russia would not supply the specified hydrocarbon raw materials to those countries that would introduce a price ceiling for black gold of Russian origin.
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  1. maiman61 Offline maiman61
    maiman61 (Yuri) 23 July 2022 13: 04
    The can in old age does not think well. It is necessary that Russia supply oil and gas to the gay west and PAY money at the market price for the delivered oil and gas! Ha ha ha!
  2. Observer2014 Offline Observer2014
    Observer2014 23 July 2022 13: 07
    Biden: Restricting oil prices from Russia will make it possible to reduce gasoline prices in the United States

    God! What a brilliant old fellow he is though. Covid! Let's get it over with quickly. laughing
    It's such an idea! Who writes all this to him?
  3. Bakht Offline Bakht
    Bakht (Bakhtiyar) 23 July 2022 13: 08
    Tired of this verbiage. Stopping supplies for 6 months (until the end of Goa) and you can sign the surrender of the West. I simply refuse to understand the politics of the Kremlin.
    1. Rare1809ivanov Offline Rare1809ivanov
      Rare1809ivanov (Vladimir Ivanov) 23 July 2022 17: 55
      The Kremlin has its own calculations, but not in our favor
  4. Demon SDA Offline Demon SDA
    Demon SDA (Dmitriy) 23 July 2022 14: 04
    The clown doesn't know what the world's market is? There is a price, do not like - goodbye
  5. rotkiv04 Offline rotkiv04
    rotkiv04 (Victor) 23 July 2022 16: 26
    I won’t be surprised if the Kremlin agrees to such conditions, Novak also made it clear that the price may be limited, but as long as it brings at least some profit, if this happens, then we can say that Putin capitulated and accepted the conditions of the Pindos
  6. av58 Offline av58
    av58 (Andrei) 23 July 2022 17: 55
    In the US, prices for gasoline and diesel really go down for a couple of weeks, but it’s unlikely because of Biden’s words that the share of Russian oil in the US has never exceeded a few percent, and how can you force a manufacturer to lower the price: if you don’t like the price, don’t take it, I’ll sell it others!
  7. Vova Zhelyabov Offline Vova Zhelyabov
    Vova Zhelyabov (Vova Zhelyabov) 24 July 2022 19: 08
    Those who restrict can forget about inexpensive gasoline.
  8. kalita Offline kalita
    kalita (Alexander) 25 July 2022 11: 30
    Doesn't show anything about what's going on.