The Russians Can Help
Recently, several governments in Eastern Europe (as reported by Bulgarian Sofia News Agency) have concluded that the major changes in the oil prices in Europe are dictated by Middle East crisis but are largely supported by the Russian dominance over the continent. The problems that Europe is facing are the high commodity prices and Eastern Europe is the region that has been hurt the most since the oil prices there are becoming unbearable for the population that cannot afford more expensive fuels.
The governments have made the assumption, based on political and economic considerations, that the Russians are actually making the wrong choice by complying with the prices. Even though the Middle East has a reason to increase commodity prices, the Russian oil exporters are doing this on purpose, because they can now offer crisis-free oil and can put any price on it because the European countries would largely depend on it. According to leading economists in the two countries, nothing can actually make Russia increase prices at that level and it only does so in order to boost its sales and benefits from the forced European Commodity market.
Airlines, even the biggest ones in Eastern Europe hosting luxury London flights, were the first to express concern. Bulgaria Air have officially stated they want the national regulator to impose limits on the oil prices. The trade unions in Romania and Greece have also made requests to the domestic power for a national measure that would prevent the future increase in the prices which might incur severe losses and worsen the inflation rates in the region.
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