Quote:
Originally Posted by PeteMoss
They are just capping the Russian oil from what I read. Other oil is not being capped. So China and India would pay less for oil than the West would. Basically they don't want to cut the oil available overall, just cut the price on Russian oil by using the fact that all payments flow through G7 countries financial systems.
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I wonder if its like a spread determined by the banks who make the payments to Russia.
I couldn't find much on market spreads on Russian oil, except that Sokol (is this their highest output oil?) is ~ 18$/bbl from Brent