Quote:
Originally Posted by Mr.Coffee
Too lazy to go get the articles but Japan has decided to say “nah” to the US price cap on purchasing Russian crude oil (not good, possible floodgate opener move?) and meanwhile a few other (large) countries are starting to shift in purchasing with the US dollar. Russia and China the notable ones but India putting pressure on others to use the Rupee as well. Not enough of an expert to understand the ramifications of these moves, however.
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I've meant to ask this for a while, but question for you guys far more knowledgeable than I am...
Is there really any point to not buying Russian oil right now aside from optics? It seems to me the idea of economically isolating Russia has completely failed due to things like the above issue. The fact that Russia can still sell to China and India seems to defeat any alliance western nations have. It just seems to me that a lot of countries are putting their people through tough times for not much gain. Am I missing something?
I do realize there is a nice long term benefit of European energy independence from Russia. Helps them act more firmly in future conflict not having that hang over their head.