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Situation when India and Saudi Arabia profit from that oil is much better than if Putin would get all the profits. Transportation over long distances and opacue
by SXX 3y ago
Situation when India and Saudi Arabia profit from that oil is much better than if Putin would get all the profits. Transportation over long distances and opacue pricing also eating into tax income and it does work. Kremlin changing oil export taxation rules every few months in attempt to recover some losses of course.
It will also slowly deteriorate Russian oil refining industry since everyone just want to buy their cheaper crude oil. It will take decade and won't stop the war now, but it gonna be a huge hit in a long run.
So while EU sanctions are weak they do work.