Yup! Putin's a chess player!
Opportunities for the West to hurt the Russian economy are limited, President Vladimir Putin said Thursday. Europe cannot stop buying Russian gas without inflicting pain on itself, and if the US tries to lower oil prices, the dollar will suffer.
“Can Europe stop buying Russian gas? I think it's impossible…Will they make themselves bleed? That's hard to imagine,” the Russian president said.
Since oil is sold internationally on global markets cutting the price would mean lower dollar circulation, diminishing its value in the global currency market.
"If prices decrease in the global market, the emerging shale industry will die,” Putin said.
The US shale industry has boosted domestic production, helping the US become independent and situating it to overtake Russia as a producer.