“They’ll just sell to Asia, and India or whoever will sell the global commodity they don’t use.”
They are already doing that now, and China and India are reselling it to the West at several times the price.
Exactly, but it will just need to be a greater amount.
It won’t be as easy as it has been up till now. Oil can mostly be transported to Asia only by ships. European-owned ships will be banned from transporting Russian oil the price of which exceeds the cap and European insurance companies will be banned from insuring such transports. Almost all insurance companies that offer ship insurance are European.