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What's the effect of Russian oil price cap, ban?

3 Comments
By DAVID McHUGH

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An attempt by G7 to form a buyers cartel, and good for the buyers if it works but doubt that it will. Oil is too important a commodity for the growing economies, and if China and India are already getting it at a discount from Russia why would risk ruining their relationship with Russia by insisting on the price cap.

Europe will have to turn to alternative supplies from the U.S., Middle East and India.

Crude importing countries are now becoming refined petroleum products exporters, seems like anyone who can is profiting from the war.

-3 ( +0 / -3 )

Another virtue signalling sanction that will push up the price for European consumers.

The Europeans themselves will still be buying Russian oil as they are today. Russian oil via India and other countries. China already has its own insurance companies...

I pity the poor people of Europe having to pay more for their energy while not really making any difference to the war.

1 ( +3 / -2 )

feel sorry abt europen citizens as this this "smart plan" will just make life harder in any aspect.

russians are smart and they may reduce export but still will make enough of money as demand for oil and gas will be ever higher worldwide.russian oil will come to Europe through third party so final buyer will need to pay more-for exactly same product.

if you think that you can make Russians starving like in WW2 in Leningrad...you are wrong.If you are underestimating Russians you are wrong again.

0 ( +2 / -2 )

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