Submitted by Core2score t3_zwvb1y in worldnews
Comments
SardScroll t1_j1wyvk5 wrote
It's all relative to the amount of oil (and it's importance to the country's economy) that is being bought. See also, India which has been buying loads of oil at reduced prices.
TapSwipePinch t1_j1x8pki wrote
If India is the only one buying can't it just, you know, buy for cheaper? You know, until it eventually goes to this price cap range anyway.
GoodAndHardWorking t1_j1xa0v2 wrote
It's already trading below the price cap. The point of the cap is that instability with the supply can cause the price to shoot up, which benefits Russia, who can also cause the instability that increases the price. So capping the price reduces Russias ability to strategically leverage the oil supply.
[deleted] t1_j1ya5sv wrote
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grrrrreat t1_j1x3wgl wrote
Politics isn't for rational digestion
aham_brahmasmi t1_j1xowcw wrote
There are many countries in Asia, apart from China and India that are looking to buy Russian oil. Sri Lanka and Pakistan are looking for cheap oil because their economies are in the drain (Sri Lanka more so than Pakistan). Indonesia too is looking to buy Russian oil after people protested the exorbitant fuel prices. So demand is there.
KmartQuality t1_j1xmsvl wrote
What would that accomplish?
[deleted] t1_j1yxjje wrote
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Core2score OP t1_j1zsub1 wrote
You sound like another dumb internet idiot or a Russian troll.. there's not much difference tbh.
Putin started a war betting on one thing, that Ukraine won't t fight back, he then refused to call it a war and made it a crime to do so, and recently violated his own law on live TV.
He literally threatened an enemy he's at war with with retaliation if they keep fighting back against him.
If that's not stupid, I dunno what is.. maybe you are.
Also blaming someone with access to any news outlets they want of consuming propaganda while defending Russia is incredibly stupid, and the way you put it sounds like an 8th grader trying to imitate a highschool bully.
mycall t1_j1x5lnb wrote
Now that Russia will no longer sell to price cap countries, those same countries should lower the price cap.
deez_treez t1_j1wz450 wrote
Cap is working as intended then. Putin surprisingly bad at strategy, probably dealing with a lot though.
Varolyn t1_j1wztoq wrote
It is kind of funny to see that there are some pundits who seem to think that this is a genius move by Putin:
... and unsurprisingly, it's a right-wing blog that wrote this article.
fiftyeleventimes t1_j1xdgjz wrote
Zerohedge is not a pundit site. It is passion project from a fake libertarian who calls himself "Tyler Durden." It frequently flat out lies: "As for the US stepping in a providing emergency cover to nations who may be caught in the crossfire, sorry - Joe already drained a third of the SPR to get Democrats reelected."
That's just made up. Biden released oil to oil companies with the agreement to buy it back at a fixed price. Zerohedge has zerocredibility.
Core2score OP t1_j1xe095 wrote
I used to think he was cunning and calculated, but this war has revealed him to be so stupid he could be diagnosed with a mental growth stunt.. literally the manual gearbox on my dad's beat up 1970s Chevrolet is more intelligent.
GoodAndHardWorking t1_j1xaaqg wrote
The cap is meant to reduce Russias ability to strategically leverage oil prices and to benefit from disruptions to supply, without disrupting global markets that depend on that supply. If this ban disrupts those markets, then the cap is not working as intended.
Jake1125 t1_j1x149r wrote
This is how Russia sanctions itself. I hope Putin succeeds, and sells much less oil haha!.
autotldr t1_j1x5lqv wrote
This is the best tl;dr I could make, original reduced by 90%. (I'm a bot)
> Russia announced on Tuesday it would ban oil sales to countries that abide by a price cap imposed this month by the West, giving its long-awaited response to the most dramatic step taken so far to limit Moscow's ability to raise funds for the war in Ukraine.
> The Kremlin ban would halt crude oil sales to countries participating in the price cap from Feb. 1-July 1, 2023.
> Some analysts have said the cap will have little immediate impact on the oil revenues that Moscow is earning, as the price for Russian oil has already fallen close to it.
Extended Summary | FAQ | Feedback | Top keywords: Russia^#1 oil^#2 Russian^#3 Moscow^#4 price^#5
[deleted] t1_j1xpbj4 wrote
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Core2score OP t1_j1wykaj wrote
Is he this stupid? Or am I missing something?? Pretty much no one is buying Russian energy in significant amounts except for China and India and these 2 are dictating their own prices iirc.. what does this ban hope to achieve??
Can we just diagnose this guy with dementia and get it over with?