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The sanctions help Putin. Thus far they’re making a boat load off the oil. Sanctions only hurt if you import, look at what they’re importing — it’s not much. W
by lettergram 5y ago
The sanctions help Putin. Thus far they’re making a boat load off the oil.
Sanctions only hurt if you import, look at what they’re importing — it’s not much. What they do import is primarily from trade partners who aren’t sanctioning (China, Belarus, etc).
- sdenton4 5y agoAs more trade partners are refusing to buy Russian oil, they're selling at steep discounts in auctions, and need to use non-pipeline delivery for the resulting nonstandard buyers (which greatly increases delivery costs). Germany has also scrapped a plan for a new pipeline, which will decrease future sales.
- jmcgough 5y agoPrices are rising on oil because people aren't buying Russian oil. Russia is even trying to sell it at a discount to offload it: https://www.bbc.com/news/business-60584798 https://www.bbc.com/news/business-60584798
- Retric 5y agoChina is Russia’s single largest trading partner but they import a lot of goods from the countries that added sanctions. https://tradingeconomics.com/russia/imports-by-country https://tradingeconomics.com/russia/imports-by-country Germany $23.38B United States $13.21B Italy $10.20B France $8.08B …