“ Russians are going to do just fine exporting 20% of current volume.”
Putin is a master strategist!
Why didn’t anyone think of that approach before? Sure victory!
Actually, that is about as fine as you will be able to do. 20% of the volume, but on lower prices. All While the other sectors of the economy implode.
The hammer is really going to drop when all that former revenue suddenly dries up, and the knives will be out to fight over what is left. Many will have to be cut out, and their anger will demand blood. Even if it is not about anger, they will have to spill blood to get their piece of that much smaller pie.
What a disaster for Russia, being driven over the cliff like this.
P.S. The USA is the world’s largest producer of both oil and natural gas, with proven technological and financial ability to grow production of both at double digit annual growth rates (unlike Russia). We can take care of ourselves, and your former market share as well. Party on Russia’s former pie! Everybody grab a piece! Putin is a master strategist!
What lower price? They get more than ever, even with a discount factored in. Forget about the oil price cap. Russia is not going to abide it. As a side note, do you know on what budget the USSR caused the US troubles in the 1970s? Russia is more equipped to do so no matter how hard are you trying.