And if Russia doesn’t sell their gas/oil they get $0. Sure Europe suffers but so does Russia they really don’t have other income sources.
But one thing is certain. Trump was 100% right.
You are forgetting China could buy all the oil Russia has for sale.
Well, India is not willing to leap off the cliff and they are buying. So is China. Since oil if fungible it is merely a question of what sort of discount to international prices the Indians and Chinese are going to get. Russia loses. But so does everyone paying the higher non Russian sourced oil prices.
India and China are buying Russian oil—only the two most populated countries on the planet...no big deal...
;-)
I guess we see who blinks first. Russia could always ask to be paid in gold or bitcoin.
They selling it already to China and India. There is never going to be a shortage of buyers for oil and gas.