In the opinion of Roberto Dumas, professor of international economics at Insper, the decision of the United States to ban the import of Russian gas and oil “is not a major sanction” that will harm Russia.
In an interview with CNN Radio, he explained that the country led by President Vladimir Putin exports 8 million barrels of oil a day. “Of these, 60% go to the European Union, 20% to China, and 8% to the United States, which is equivalent to 1 million barrels.”
“The real sanction would be from Europe, but without gas and oil from Russia, it literally freezes, there is the dependency that has been built up over several years”, he defended.
Dumas considers that China should buy the production that would be destined for the United States, but said that, although the sanction should not have much effect, it has “symbolic power.”
According to the professor, Putin’s decision to respond by stopping the export of fertilizers and other products will reduce supply and hurt the cost of food production.
“The West is beating Russia, only the West’s hand is hurting more and more,” he added.
For Roberto Dumas, the world will be pushed more and more towards a situation of stagflation, with GDP that does not grow and inflation increasing.
Source: CNN Brasil
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