So they put a cap on Russian oil. Prevent Russia from selling at a certain price. If Russia doesn't sell at that certain price, the they will not buy it, and will try to prevent others from buying it.
They assume Russia has to sell. But there is only so much oil production in the world, so if the Russians refuse to sell, then they are betting that they can hold out longer than the Russians.... And this starts in December?
I'm confused as to how they will prevent others from buying it? If Russia decide not to sell oil to EU, and the price of Brent increases to let's say 200$, but their cap is at 50$, what's preventing others form buying it at 100$? Are they going to resort to piracy ?
Also with all the sanctions already on Russia, why would Russian companies want to comply with the cap? Doesn't make sense.
there is a nice counterargument hereSo they put a cap on Russian oil. Prevent Russia from selling at a certain price. If Russia doesn't sell at that certain price, the they will not buy it, and will try to prevent others from buying it.
They assume Russia has to sell. But there is only so much oil production in the world, so if the Russians refuse to sell, then they are betting that they can hold out longer than the Russians.... And this starts in December?
I'm confused as to how they will prevent others from buying it? If Russia decide not to sell oil to EU, and the price of Brent increases to let's say 200$, but their cap is at 50$, what's preventing others form buying it at 100$? Are they going to resort to piracy ?
Also with all the sanctions already on Russia, why would Russian companies want to comply with the cap? Doesn't make sense.
there is a nice counterargument here
?? I thought The counter argument is written by someone to counter the assistant secretary.Do you have a counterargument from a different source. I find it hard to care about the arguments from the guy who works as assistant secretary for economic policies at the US treasury. Who more then likely played a role in crafting the previous disastrous economic shock and awe plan. That was a complete failure and an embarrassment to the West.
?? I thought The counter argument is written by someone to counter the assistant secretary.