Rember the term “Oil is fungible?” Despite the sanctions, that’s still a thing.
—”Rember the term “Oil is fungible?” Despite the sanctions, that’s still a thing.”
TRUE, no doubt about it.
That said, Russia is selling at or below the cost of production and taxes.
If you think China and India are overpaying... guess again.
Also, transportation and insurance costs are out of sight for Russian oil.
See #43