Yes, yes. But why not just sell the oil to another oil producing country and they can act as a middle man and turn around and resell the oil at the market rate?
At the very least, that middle man is going to want severe discounts both to make a profit and to compensate for the risk of violating a UN sanction.
And oil flows can still be largely monitored. So it’s doubtful they could get away with much.
and if they middle man understands nobody else is going to be offeing more than the cap. They can position their bid to the lowside.