4 ms·

But what about the price of gas and oil on Europe, isn't that the salient point?

qbasic_forever 4y ago
The goal of sanctions wasn't to raise the price of oil, it was to crush the Russian economy which the west assumed depended on Russia exporting oil and gas directly to Europe. That goal appears to have failed as Russia just made new agreements to sell oil/gas to other countries (who then sell to Europe).
- distances 4y ago
  On the contrary, that goal has worked pretty well. Russia has to sell crude now, plus at very low price points. It's a shame that China and especially India continue to buy, but at least they're taking advantage of the situation to pay a pittance so Russia isn't making profits with it. Russia's economy isn't crushed but it has now a massive budget deficit that isn't sustainable without some extreme adaptations.
- fauxpause_ 4y ago
  Your own link cited a 43% drop in revenue, a 21% drop in income, and a large deficit.
- AlecSchueler 4y ago
  Yes but the purpose of sanctions isn't important to me. My question is has the war increased the prices of fuel that the global supply chain relies on and, in turn, wholesale prices for goods.
  - fauxpause_ 4y ago
    Cool. But if you’re only going to look out for yourself, don’t be surprised when you’re at the bottom of the list of concerns for people who are looking to cooperate for the common good.
    - AlecSchueler 4y ago
      That's such an uncharitable reading of my words that I'm struggling not to be offended. Of course the sanctions are important to me. But the original question was Does the war in Ukraine affect global prices for seemingly unrelated things. When I say the purpose of the sanctions aren't important to me I feel it's obvious that I mean only within the context of answering this question.
      - fauxpause_ 4y ago
        Sure. Sorry. Fwiw, I don’t think that’s implied at all however. I think it strongly implies that the purpose of the sanctions simply don’t matter to you. Which is a common opinion

The goal of sanctions wasn't to raise the price of oil, it was to crush the Russian economy which the west assumed depended on Russia exporting oil and gas directly to Europe. That goal appears to have failed as Russia just made new agreements to sell oil/gas to other countries (who then sell to Europe).

distances 4y ago
On the contrary, that goal has worked pretty well. Russia has to sell crude now, plus at very low price points. It's a shame that China and especially India continue to buy, but at least they're taking advantage of the situation to pay a pittance so Russia isn't making profits with it. Russia's economy isn't crushed but it has now a massive budget deficit that isn't sustainable without some extreme adaptations.
fauxpause_ 4y ago
Your own link cited a 43% drop in revenue, a 21% drop in income, and a large deficit.
AlecSchueler 4y ago
Yes but the purpose of sanctions isn't important to me. My question is has the war increased the prices of fuel that the global supply chain relies on and, in turn, wholesale prices for goods.
- fauxpause_ 4y ago
  Cool. But if you’re only going to look out for yourself, don’t be surprised when you’re at the bottom of the list of concerns for people who are looking to cooperate for the common good.
  - AlecSchueler 4y ago
    That's such an uncharitable reading of my words that I'm struggling not to be offended. Of course the sanctions are important to me. But the original question was Does the war in Ukraine affect global prices for seemingly unrelated things. When I say the purpose of the sanctions aren't important to me I feel it's obvious that I mean only within the context of answering this question.
    - fauxpause_ 4y ago
      Sure. Sorry. Fwiw, I don’t think that’s implied at all however. I think it strongly implies that the purpose of the sanctions simply don’t matter to you. Which is a common opinion