On NBC’s Meet the Press with Chuck Todd, secretary of state Antony Blinken discussed sending planes to Ukraine via Poland and with the EU on banning Russian oil.
On Planes to Ukraine
Todd: This idea of essentially U.S. fighter jets to Poland; in exchange, Poland sends Russian-made jets to Ukraine – is that going to happen? And how quickly can it happen?
Blinken: We’re talking very actively about this, looking at what we can do to backfill Poland if it chooses to send the MiGs and the Su planes that it has to Ukraine, how we can help by backfilling what they’re giving to the Ukrainians. So that’s in very active discussion as we speak.
Todd: So we are 100 percent going to do this? If any of these NATO nations that have these Russian-made planes donate them to the Ukrainian – Ukraine, we’re going to backfill if they’re NATO Allies?
Blinken: Well, look. We’ve got to – we have to work through each case on its own merits. We’ve got to make sure we’re able to do something if that’s what a country is requesting in return for sharing the jets that they have.
On Oil
Todd: I know as late as last week there was still – the administration was saying no, we can’t do the 100 percent ban. Has your mind changed? Has the administration’s mind changed on this? Are you looking at a full embargo on Russian and gas – Russian gas and oil?
Blinken: Chuck, I spoke to the President and the cabinet, the leading members of the cabinet, about this just yesterday from Europe. And we are now in very active discussions with our European partners about banning the import of Russian oil to our countries while, of course, at the same time maintaining a steady global supply of oil. The actions we’ve taken to date have already had a devastating impact on the Russian economy. We see the ruble in freefall. We see the economy heading into a deep recession. We’ve already had a major impact. But we are looking – again, as we speak – in coordination with allies and partners at this prospect of banning oil imports.
Todd: So it’s interesting you added the “in coordination.” We will not do this unilaterally? The United States is not going to do this unilaterally?
Blinken: A hallmark of everything we’ve done to date has been this coordination with allies and partners. We are much more effective across the board when we’re doing things together in as close a coordination as possible. There are instances where we each do something a little bit different, but it complements the whole. So in the first instance, we want to make sure that we’re acting in coordination. I’m not going to rule out taking action one way or another irrespective of what they do, but everything we’ve done, the approach starts with coordinating with allies and partners.
How Long Will This Go On?
Todd: We’re getting towards the end of the second week of this conflict. Can this still end diplomatically with Vladimir Putin in charge of Russia?
Blinken: I think we have to be ready that this could go on for some while. The sheer force that Russia can bring to bear – the manpower, the expanse of its military – has the potential to keep grinding down these incredibly brave and resilient Ukrainians. But here’s the thing. Winning a battle is not winning a war. Taking a city is not taking the hearts and minds of Ukrainians. And what we’ve learned over the past couple of weeks is that they will fight to the end for their country – and if it takes a week, if it takes a month, if it takes a year. … It may take some considerable time to play out. We want it to end as quickly as possible, with Ukraine having its independence, its territorial integrity, its sovereignty. But I think we need to be prepared for this going on for some time.
The complete interview is posted at the US Secretary of State website Secretary Blinken With Chuck Todd of NBC News
YouTube Video
Senator Joe Manchin of West Virginia followed Blinken on Meet the Press. He starts at about the 17:30 mark.
Manchin supports sending planes to Ukraine via Poland and a unilateral US ban on Russian oil whether the EU goes along or not.
On climate change Manchin stated “Our energy that we produce in America is better and cleaner than anywhere else in the world.” Anything we backfill is better than anything they produce.”
It’s an interesting discussion that follows.
Blinken’s Tightrope Attempt
Returning to the Secretary of State:
Q: How do you ban Russian oil and make it stick, while maintaining a steady global supply of oil at prices that don’t skyrocket?
A: You don’t. There is no tightrope because there is no rope at all.
Nor is there a cohesive plan on anything.
$180 Oil?
Sources tell me US officials are worried about $180 oil when Russian oil is fully offline.
I’d caution that $200+ per barrel is possible—if we can’t access additional supply. This price shock will cause an economic meltdown.
Like it or not, the world is still powered by oil.
— Trish Regan (@trish_regan) March 7, 2022
Unintended Consequences
Sanctions on Russia result in unintended costs. Among other things, sanctions will accelerate Russia’s ties with China. Russian banks cut off from SWIFT will use the Chinese counterpart, CIPS. In the long run, King dollar will meet more challenges. https://t.co/sAg9cKWrq1
— Steve Hanke (@steve_hanke) March 6, 2022
President Biden
We have to treat climate change like the existential threat it is. As president, I will:
– End subsidies for fossil fuel corporations
– Ban new drilling on federal lands & waters
– Hold oil executives accountable
– Rally the world to raise the commitments of the Paris Agreement— Joe Biden (@JoeBiden) March 16, 2020
Team Biden Headed to Venezuela
How stupid is this?
U.S. Officials Meet With Regime in Venezuela, to Discuss Oil Exports to Replace Russia’s
In rare meeting, the two sides discuss lifting of U.S. sanctions that have barred Venezuelan oil exports to American refineries.
The proposals being discussed in the Venezuelan capital would ease sanctions for a limited period on U.S. national security grounds. Since the Trump administration began turning the economic screws on Venezuela in 2017 and then leveled sanctions on the oil sector in 2019, Caracas has come to rely on China, Russia and Iran to keep its oil sector afloat. As of 2020, Petróleos de Venezuela SA, the country’s state oil company, was producing about 300,000 barrels a day.
Biden team in Venezuela as U.S. seeks to split country from Russia
What a hoot.
Embargo. In Aug 2019, Trump imposed additional sanctions on Venezuela, ordering a freeze on all Venezuelan government assets in the US and barred transactions with US citizens and companies.
— Mike “Mish” Shedlock (@MishGEA) March 7, 2022
That sanction on Venezuela sure worked, just as Trump’s sanction on Iran.
And now we will tell Venezuela we will “temporarily” remove them on grounds of our national security.
Has everyone gone mad?
This post originated at MishTalk.Com
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Mish
And now we will tell Venezuela we will “temporarily” remove them on grounds of our national security.
Has everyone gone mad?”
And of course, it’s all pointless because China will be buying all the extra Russian oil at a discount, and if they don’t just store it but use it to replace the oil they import from elsewhere we are just playing musical chairs with oil with no or little net worldwide effect on oil supplies, other than some disruption as things get sorted out. We were already in shortage however.
Very risky investing environment.