Price cap of Russian oil could restrict Putin's revenue to finance the war--- US

[Majestic-milf]

 Western allies and the EU have come together to approve a price cap aimed at stopping the purchase of Russian seaborne oil at the rate of $60(£48) per barrel by countries. This plan was orchestrated by G7 group of industrialized nations(the US, Canada, the UK, France, Germany, Italy and Japan) to at least stall the flow of Russia's financial ability to bolster the war in Ukraine.

 In a statement by the US Treasury secretary, Janet Yellen, she disclosed that this price cap initiative could help restrict Putin's finances and put a hold on the revenues he generates to fund the senseless and brutal war.
With Russia's economy experiencing a contraction and it's budget increasingly getting thin, this action could cut into hispst important source of revenue.

 Measures like this taken by the EU are no longer new to the public, because since the war began, they have been seeking for ways to stop him from this mindless attack, but efforts have proven futile. How long will the EU continue searching for 'new and improved' methods to stop him, or is this it?
https://www.bbc.com/news/world-europe-63843893
 

 

[BADecker]

What? I thought that Europe wasn't buying Russian oil and gas. I thought the sanctions stopped it all. So, how can they put a price cap on something that isn't being done? They surely aren't going to stop Russia from selling to Asia and India, and a whole bunch of nearby, little, Middle East countries.

This whole plan is simply something designed to make the common US or European citizen think that the US and Nato are winning the war, and are actually doing something that can stop Russia. What's really happening is that the G7 nations are failing in their attempts to steal Russia for themselves. In fact, the failure is bringing about their downfall rather than giving them success.

[Majestic-milf]

This whole plan is simply something designed to make the common US or European citizen think that the US and Nato are winning the war, and are actually doing something that can stop Russia

My point exactly! I mean, wtf?? On several occasions, Putin has proven that no matter how much restrictions is put on him, he'd still find a way to get out of it. Yeah, the price cap is intended to affect oil exports worldwide, but this action by the EU is only putting at risk it's own energy security!
 When will these guys learn?🤦🤦🤦
 

[tsaroz]

G7 and EU sets a price cap on Russian oil.
Russia stops providing oil to G7 and EU.
G7 and EU needs other provider and the options are limited.
The price for oil rises.
Profit Russia makes from India and China rises..
Russia makes more money by selling less oil.

This is a school grade economics, you can't cap the price of something you don't produce.

[Die_empty]

What? I thought that Europe wasn't buying Russian oil and gas. I thought the sanctions stopped it all. So, how can they put a price cap on something that isn't being done? They surely aren't going to stop Russia from selling to Asia and India, and a whole bunch of nearby, little, Middle East countries.

This whole plan is simply something designed to make the common US or European citizen think that the US and Nato are winning the war, and are actually doing something that can stop Russia. What's really happening is that the G7 nations are failing in their attempts to steal Russia for themselves. In fact, the failure is bringing about their downfall rather than giving them success.

This policy is a clear indication that the US and an allies really underestimated the economic relevance of Russia. They keep rolling out sanctions after sanctions without considering the economic impact of their actions. I have always believed that there are some nations that cannot be curtailed by economic sanction because they have grown to be irreplaceable in the global economic environment. They thought they could limit Putin by sanctions but they ended up opening other viable trade options that ended up making Russia economy more sanction proof. This is because more countries are attracted to the discounted oil and gas price of Russia. OPEC+ are not also willing to flood the market with supplies to facilitated the drop in price.
I pity Ukraine because the US and its allies are now left with few options to deter Russia, because currently the war is having a huge negative impact on Ukraine's allies.     

[BADecker]

What? I thought that Europe wasn't buying Russian oil and gas. I thought the sanctions stopped it all. So, how can they put a price cap on something that isn't being done? They surely aren't going to stop Russia from selling to Asia and India, and a whole bunch of nearby, little, Middle East countries.

This whole plan is simply something designed to make the common US or European citizen think that the US and Nato are winning the war, and are actually doing something that can stop Russia. What's really happening is that the G7 nations are failing in their attempts to steal Russia for themselves. In fact, the failure is bringing about their downfall rather than giving them success.

This policy is a clear indication that the US and an allies really underestimated the economic relevance of Russia. They keep rolling out sanctions after sanctions without considering the economic impact of their actions. I have always believed that there are some nations that cannot be curtailed by economic sanction because they have grown to be irreplaceable in the global economic environment. They thought they could limit Putin by sanctions but they ended up opening other viable trade options that ended up making Russia economy more sanction proof. This is because more countries are attracted to the discounted oil and gas price of Russia. OPEC+ are not also willing to flood the market with supplies to facilitated the drop in price.
I pity Ukraine because the US and its allies are now left with few options to deter Russia, because currently the war is having a huge negative impact on Ukraine's allies.     

The people of the West might underestimate the economic relevance of Russia. But the West's banking system and the elite don't.

If you do searches on things that Western leaders have said, and read between the lines a little, Russia is important to them. Western leaders and the elite have said over and over for decades, that they want to conquer Russia and split her ups into sections... tiny States. Why would they do this? So they can get the raw materials.

People are people, in the West and in Russia. Russia isn't ignorant of what the West is trying to do... right now through their Ukraine puppet.

[worldofcoins]

Western allies and the EU have come together to approve a price cap aimed at stopping the purchase of Russian seaborne oil at the rate of $60(£48) per barrel by countries. This plan was orchestrated by G7 group of industrialized nations(the US, Canada, the UK, France, Germany, Italy and Japan) to at least stall the flow of Russia's financial ability to bolster the war in Ukraine.

 In a statement by the US Treasury secretary, Janet Yellen, she disclosed that this price cap initiative could help restrict Putin's finances and put a hold on the revenues he generates to fund the senseless and brutal war.
With Russia's economy experiencing a contraction and it's budget increasingly getting thin, this action could cut into hispst important source of revenue.

 Measures like this taken by the EU are no longer new to the public, because since the war began, they have been seeking for ways to stop him from this mindless attack, but efforts have proven futile. How long will the EU continue searching for 'new and improved' methods to stop him, or is this it?
https://www.bbc.com/news/world-europe-63843893
 

 

Agree with your post that the price cap initiative would help Russia gain more capital. To complete the demand and supply and all the efforts for stopping other countries from buying the cheap as it's its perception that preference of buying lower price would prevail against restrictions by other countries.