“It will probably work out about as well as those ‘oil price caps”
I guess that you haven’t noticed Russia’s declining oil export revenues, and the sharp discount that it’s main Urals grade of oil sells for, relative to the Brent benchmark. At $52 a barrel, it is selling about $18 below Brent, vs. near parity before the price cap. Transportation expenses for Russian oil exports were also raised significantly by the price caps, further reducing their profit.
Price caps have been costing Russia a fortune. They have been depleting their financial reserves, and loading their banks with increasingly bad debt.
Depending on how President Trump chooses to impose the Bone-Crushing Sanctions, they could produce a near immediate and effectively complete halt to Russian oil exports, forcing well shutdowns - faster and further than what led to the collapse of the Soviet Union. Really, only China and India need to be persuaded to buy oil from other available suppliers, rather than Russia, and it is game over for Russia’s economy and Government finances. Neither (especially not China) could afford 500% tariffs from the USA. The Saudis have the spare capacity to fill their tankers for them, instead of Russia, at market rates.
President Trump knows what he is doing, and if he wants to force Putin to call off his invasion, President Trump has the cards.
How about the REAL PRICE of Urals oil, along with a link.