WSJ: USA May Impose Sanctions on Russia Due to Oil Prices

The United States may intervene in the price war between Russian Federation and Saudi Arabia on the oil market. Washington wants to stabilize prices, one of the measures is sanctions against Russia, The Wall Street Journal wrote. The US President Donald Trump’s Administration is currently discussing the possibility to impose new sanctions against Russia to influence the oil market and stabilize its prices. The newspaper The Wall Street Journal (WSJ) informed on Thursday, March 19. The White House, they said, is going to intervene in the price war of Russia and Saudi Arabia in the oil market, so that participants change their position. In this case, new sanctions may become a means of pressure on the Russian Federation, but what kind of exactly, the interlocutors of the publication did not specify. In the case of Saudi Arabia, Washington may apply diplomatic pressure to force it return to the volumes of oil production that were in force before the OPEC deal with Russia was broken. After Russia and OPEC failed to agree on in oil production reduction prices fell sharply. So, on March 18, they reached the minimum over the past 17-18 years. The cost of Brent crude oil fell to 24.9 dollars per barrel, WTI - to 21.5 dollars. Afterwards, on March 19, prices rose slightly: Brent - up to about 29, WTI - up to $ 28 per barrel.