EXPLAINER: What's the effect of Russian oil price cap, ban?

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Western allies want to hurt Russia's finances with an oil price cap but keep its supply on the global market to avoid cost spikes. AP explains how the price cap and a European ban on most Russian oil would affect consumers and the global economy.

HOW WOULD OIL KEEP FLOWING TO THE GLOBAL ECONOMY?

that oil prices would spike, Western economies would suffer, and Russia would see increased earnings from whatever oil it can ship in defiance of the embargo.rerouted much of its supply to India, China and other Asian countriesOne purpose of the cap is to provide a legal framework “to allow the flow of Russian oil to continue and to reduce the windfall revenue for Russia at the same time,” said Claudio Galimberti, a senior vice president of analysis at Rystad Energy.

However, that $50 cap would be still be above Russia’s cost of production of between $30 and $40 per barrel, giving Moscow an incentive to keep selling oil simply to avoid having to cap wells that can be hard to restart.Russian has said it will not observe a cap and will halt deliveries to countries that do.

 

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So we care about Russia making money, but not about the record profits the oil companies have made during this economy? Makes total sense 🤡

I think it's more likely to move insurance from unreliable UK to other places.

Too late. Negotiations is the only way, what type of politicians are these?

Further evidence for conspiracies about wars being planned. All of sudden we don’t want to cut them off completely?

People will be literally freezing to death and the globalist elites are crowing about 'limiting fossil fuel earnings'. The darkest and most evil of souls.

Russia meddles. West meddles.

Europe has had a almost a year to negotiate with other countries to buy oil from. Surely, during a war, concessios would be made

That's not how prices work. Have fun freezing to death Europe.

Developing counties will get cheaper oil!

How to destroy the world in 9 easy sanctions.....

Remember when Trump told the EU and Germany they needed to divest from Russian oil and was laughed at? Wouldn’t be even worrying about this if they had listened…

That may disadavantage EU industries. Chinese competitors are able to export their goods to the EU that were made on the basis of cheap Russian oil and gas...

Government legislation as a tool to curb inflation and corporate price gouging. Now there is an idea. Maybe the American Congress should take notice. The Fed is not the only game in town when it comes to fighting inflation.

What ban? Refined in Turkey and shipped out for export? My lord. Do they expect us to believe this nonsense

Are we still pretending that this price cap is going to actually do something lol Russia will just continue selling oil through China as a proxy and Europe will continue paying full price.

Cheap oil? So oil all oil comes down in price, who’s going to pay $100 per barrel when you can buy Russian oil for say $70-$80? Seems like a win for the people

No! What their doing is simple: they wage economic war on Russia while at same time they cover their asses from being blown to pieces by bewildered citizens due to the financial burden they are carrying, now and for the years to come, for this little war!

I get that fuel prices have an impact on people all over the world, but putin instigated a fucking invasion and war crimes and need to be stopped at any cost. We can’t be so cowardly just because our pockets are temporarily less-full.

Western allies need the oil. Russian will just tell them freeze then they will pay. Russia has the winning hand here. What a stupid concept. Was Biden the architect of this plan?

As every other plan to bring down Russia , this oil price cap plan would also fail.

Or negotiate a peace agreement over the Ukrainian war. Let Russian oil back on the market to curb global inflation. Then European nations will have time to find alternative fuel sources to cheap Russian energy.

I think the people would like to know who owns this new paper publications. Sometime evil people are in control of our news

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