RE:RE:RE:Insurance Ban To Limit Russian Crude ExportsRussia has been exporting to India and other nations not interested in trade sanctions as what they need is oil and at a discount. Oil is at $120 and if the Russian oil exports were limited it would be where - $150-180? The sanctions have been mostly a nuisiance for Russia as they navagate away from the EU to an extent and work around the payment arrangements in Rubbles with other countries. The fact their is now an insurance ban tells us the sanctions are not working. So the insurance ban will also fail as they need for oil is essential to help keep inflation from escalating.
navajojoe wrote: VeritasVern wrote: Russia is selling more oil than ever. That's the reality.
That might, or might not, be true today, but I seriously doubt Russia will be shipping as much going forward. And that is what matters. We are already short of supply.