RE:G7 to phase out Russian oil, US sanctions Gazprombank execsI think you may well be correct on that, however, all it really means is that Rusian Oil will go to China, India, North Korea and the like so the demand for gloabl oil from those countries will decrease which will/may be offset by those countries who no longer will be buying their oil from Russia (ie Europe). The two should balance one another so the net effect of all these embargos on global oil use will be closer to zero - its just redistributed. The pipelines going east are already in place and operational - I don't really thnk Putin cares who buys his oil......quite frankly anything China can do to compromise the West they are only too happy to oblige.
I think we are are the cusp of a new world order
Cheers
Rusty