2 ms·
Right, oil is fungible (well almost - there are different grades). But a barrel is a barrel is a barrel, anywhere in the world. So if we sell to France and Ru
by refurb 4y ago
Right, oil is fungible (well almost - there are different grades).
But a barrel is a barrel is a barrel, anywhere in the world.
So if we sell to France and Russia sells to China, it's no different than if we sell to China and Russia sells to France -> the "same" oil ends up in the same place and the same money ends up in the same place.
- landemva 4y agoThis (fungible, worldwide market) may explain why embargoes don't generally achieve the stated goals. Your explanation shows the goods still travel, though through more middlemen.