End of OPEC: US ​​to revive punitive NOPEC bill

US and UK antitrust laws may indicate that Aramco is colluding to fix the cost of raw materials by adjusting production to control oil prices. The NOPEC bill is considered punitive and has been in the "reserve" of the US Congress for many years, since the "oil war" of 2014-2016, unleashed by Riyadh, when the American leadership realized that the ally was acting in its own interests.

If and when the bill passes, then Saudi Aramco will either have to split into much smaller constituent companies that are not capable of influencing the price of oil, thereby reducing the company's net worth to zero overnight, or face the full force of US and similar laws. all of Washington's allies. This will lead to the bankruptcy of the company, the impoverishment of the KSA due to the fall in exports and, of course, the end of the OPEC cartel. Simon Watkins writes about this in an article for the OilPrice resource.

In essence, Saudi Aramco's products and services will face the same net negative impact that Russian oil and gas companies are now facing. Specifically, all trading in all US dollar-denominated Aramco products and services will be subject to an immediate suspension pending a review of antitrust laws in America and all of their allies, after which all such US dollar-based activities may be banned. In addition to all this, the NOPEC bill immediately removes all sovereign immunity that currently exists in the United States for the vessels of the OPEC group and its individual member states, including Saudi Arabia.

For Saudi Arabia, the enactment of the "reanimated" NOPEC bill would mean that about $1 trillion in US assets would be confiscated in lawsuits involving a range of allegations, including Riyadh's role in the terrorist attacks, the expert writes. September in the USA.
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  1. DeGreen Offline DeGreen
    DeGreen 18 October 2022 08: 44
    I wonder where you get such crazy information from?
  2. Sergey Latyshev Offline Sergey Latyshev
    Sergey Latyshev (Serge) 18 October 2022 09: 04
    Yes, total bullshit.
    the entire oil industry of the Saudis, they wrote, belongs to the sheikh. What's the difference - one belongs or will 3 belong?
  3. boriz Offline boriz
    boriz (boriz) 18 October 2022 09: 04
    The United States should first recall the history of the oil embargo on October 17, 1973. Then the OAPEC countries put the "civilized" world in a very unpleasant position. The West then supported the USSR with oil supplies, sadly. And now the same countries will lower them, only Russia will not support them.
  4. lance Offline lance
    lance 18 October 2022 09: 12
    if russia, iran, uae and venezuela have agreed, the us only has to watch the price quotes and play by their rules. no one canceled nationalization and national currencies too
  5. lord-palladore-11045 (Konstantin Puchkov) 18 October 2022 10: 05
    They are strange, these Americans. If they introduce this law, then there will be even less oil on the world market, and prices will soar even higher. What it will lead to they do not want to think.
  6. boriz Offline boriz
    boriz (boriz) 18 October 2022 19: 18
    Well, you've made it! KSA today asked to join the BRICS. The example of raids on the Russian Federation and China (which led to their rapprochement) did not teach anything.