Putin asked China and India to give up the 30% discounts and they told him no.==
You continue to repeat this BS although I gave you a link with article from Oilprice.com which absolutely rejects your saying. But still continue. WHY? Are you so stubborn?
C’mon man the reality will win anyways)))..
China and India are bragging about the 30-40% discounts. They told Putin he has to accept marketplace realities. Hilarious!
“We find that Russia was able to redirect crude oil exports from Europe to alternative markets such as India, China, and Turkey but that export earnings were curbed substantially by the sizable discounts that Russian exporters had to accept in market segments where the impending EU embargo lowered demand.”This is selectively comparing the pre-invasion numbers from the Russian customs service, to post-invasion estimates. Russia stopped reporting economic indicators and there is no freedom of speech in Russia to say anything critical related to the invasion. The video in #39 points out no one knows what the real value of the ruble is to any other currency. These factors make having confidence in basis for comparison impossible.“However,” the report goes on to say, “we do not find crude oil discounts as large as those reflected in Urals prices toward the end of 2022. In particular, prices in market segments that are unaffected by lower European demand, e.g., exports from Russia's Pacific Ocean ports, have not dropped in a meaningful way and shipments do not appear to comply with the price cap.”
As the paper points out, the sanctions have been progressively imposed, which means, their effects are progressive as well. The oil price cap took effect December 5, the paper was published Feb 23. Three months is a a short time for any sanction to have effects. Before the cap took effect, total Russian energy exports were dropping, despite increased sales to non-European countries.
While China and India have had high percentage increases, the amount and value of that increase is a higher cost and lower profit than selling to Europe. China and India have a long term goal of energy independence. The capacity for other countries like China and India to substantially replace Europe will take years to build, when they do not want to become dependent on Russian or any other country's energy exports. Russian sales to China and India are a short term cushion, not a long term solution.
As the article for the thread points out, reported oil tax revenue has dropped 48% compared to last year. Its kind of hard to explain that away as unrelated to sanctions. This paper is comparing previous years apples to a hypothetical model of a orange for this year that no is sure exists.