The Russians are still collecting more revenue than before the war began. There will be never, ever be a shortage of nations willing to buy oil.
Energy prices are up 80% in Britain. Factories are shutting down in Germany. Europe will be devastated this winter. And, energy prices will explode again after the election here.
The proxy and sanction war are and will continue to be a disaster. You're delusional if you think otherwise. As it stands, the Biden regime and Democrats are set to take the fall politically for it. I'll be damned if you and your ilk drag the conservative movement into support this madness and drag it down. BECOME A DEMOCRAT. Trump and the American First movement are going to end the madness.
“ The Russians are still collecting more revenue than before the war began.”
Clearly, having shut off the pipelines just since June, Current (and future) gas revenues have just cratered. Check the oil spot price. It is now back below where it was on 23 February. When it returns to the more long term pre-COVID norm of $60/barrel or less, Russia is screwed by its new higher transportation and transaction costs, even before December 5ths secondary sanctions kick in.
There will be never, ever be a shortage of nations willing to buy oil.”
Hello, there is every time there is a recession. The oil market is characterized by such boom and bust cycles of supply, demand and price.
The next recession (which seems to be starting already) everyone can agree to let Russia absorb all the reductions. Arguably, it was just such an oil market swing that collapsed the Soviet Union.
Everybody knows that Russia is extraordinarily dependent on oil and gas (1/2 of last year’s GDP) - even more dependent than Saudi Arabia (1/3). The gas flow that took decades to build, has been shut off between June and now.
Oil is the last support, and the West is targeting that for collapse, in several ways at once. An oil price downswing is all it will take to kick the last leg out from under Russia, and leave it swinging from its neck.
The Western Central Banks have all gone on a race, raising interest rates and tightening money supplies, in a way we have not seen in decades - very powerful tools to destroy oil demand and crush prices. There are price caps and insurance bans and secondary sanctions and other policies to reduce Russian oil revenues, but the normal cyclical grim reaper of an oil price drop is what the West knows will bankrupt Russia - and all have agreed to pay the price, because of the atrocious nature of Russia’s aggression.
Russia is doomed, and Putin brought it on them.