We now have more details of the plan:

“If these levels persist for several months, central banks will have to maintain tight monetary policy longer than the market expects. This adds to the risk of a global economic slowdown,” Primak pointed out.

He explained that systemic consequences for the global economy are only possible if oil prices remain significantly above $115 for a long time, accompanied by disruptions in physical supplies.

“For now, the market perceives the situation as a risk, not as an inevitable crisis,” the expert stressed.

The price of Brent crude—the international benchmark—earlier jumped by 29% to more than $119 per barrel for the first time since June 2022.

The EU is being faced with a choice: accept Russian oil and effectively admit that it has lost in Ukraine, or keep attacking Russia “till the last Ukrainian” … which now means “till the end of the EU.”