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re: The irony of funding Ukraine is that the conflict is keeping oil prices high.
Posted on 2/23/24 at 6:51 pm to loogaroo
Posted on 2/23/24 at 6:51 pm to loogaroo
Loogaroo, were are we disconnecting here?
US puts sanctions on Russian oil. This is to keep it off the international market. But there are other countries (China being one) that ignore the sanctions and buys it on the black market. Because Russian oil cannot be openly traded, it's traded at a lower than market value. No way would China pay open market price much less higher than market value for Russian oil. this means China has less demand on the open market. They are getting a lot of their oil cheap in the black market because Russia is desperate for the money (Russian government relies heavily on the oil revenue and not just for military).
Do you think it works different than this?
US puts sanctions on Russian oil. This is to keep it off the international market. But there are other countries (China being one) that ignore the sanctions and buys it on the black market. Because Russian oil cannot be openly traded, it's traded at a lower than market value. No way would China pay open market price much less higher than market value for Russian oil. this means China has less demand on the open market. They are getting a lot of their oil cheap in the black market because Russia is desperate for the money (Russian government relies heavily on the oil revenue and not just for military).
Do you think it works different than this?
This post was edited on 2/23/24 at 7:00 pm
1
Posted on 2/23/24 at 9:07 pm to COAUTiger
quote:
Russian oil cannot be openly traded, it's traded at a lower than market value.
It is being traded at or just below market value. Any other country besides us can buy it at market value. It's being blended and repapered in other ports. The refined product is being sold to us at market value. China is profiting and Russia is profiting. The sanctions are allowing Russia to finance their war with Ukraine. What is so hard to understand?
This post was edited on 2/23/24 at 9:13 pm
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