4 ms·

For a very good reason; it is keeping international oil prices stable and so the world as a whole and in particular; the poorer countries are not devastated. Ge

For a very good reason; it is keeping international oil prices stable and so the world as a whole and in particular; the poorer countries are not devastated. Get a clue about how all economies are highly interlinked together and how to use diplomacy for the benefit of the World. Incidentally, Europe/Americas/Other Developed Countries are also a huge beneficiary of this. 'India deserves a thank you for purchasing Russian oil': EAM S Jaishankar - https://www.youtube.com/watch?v=-NYRk_Vgm-g https://www.youtube.com/watch?v=-NYRk_Vgm-g The World Is Thanking Us For Buying Russian Oil: Hardeep Singh Puri | Davos 2024 - https://www.youtube.com/shorts/VDpVY44rNUw https://www.youtube.com/shorts/VDpVY44rNUw

ReaLNero 2y ago
I don't really buy this. An equivalent economic policy would be if Europe and India were both allowed to buy oil, but capped at India's current amount (let's say 20% of pre-war baseline). Perhaps this can be called a "fractional" embargo. Is this really desirable? The pain of going from 80% embargoed to 100% is much greater for Russia than 0% to 20% -- a 100% would likely cripple the war. To be fair, not saying that was a card in play due to China, Iran, etc. But arguing it's good economic/diplomatic policy is unclear since it makes the embargo weaker
- rramadass 2y ago
  The paramount objective is Economic stability by controlling/managing global oil price volatility; everything else is secondary (i.e. Realpolitik). That is why the sanctions are full of loopholes for various European countries (see [1] below). 1) The disillusionment and hope of Western sanctions against Russia - https://www.gisreportsonline.com/r/disillusionment-russia-sanctions/ https://www.gisreportsonline.com/r/disillusionment-russia-sa... 2) The impact of Russia–Ukraine war on crude oil prices: an EMC framework - https://www.nature.com/articles/s41599-023-02526-9 https://www.nature.com/articles/s41599-023-02526-9

ReaLNero 2y ago

I don't really buy this. An equivalent economic policy would be if Europe and India were both allowed to buy oil, but capped at India's current amount (let's say 20% of pre-war baseline). Perhaps this can be called a "fractional" embargo. Is this really desirable? The pain of going from 80% embargoed to 100% is much greater for Russia than 0% to 20% -- a 100% would likely cripple the war. To be fair, not saying that was a card in play due to China, Iran, etc. But arguing it's good economic/diplomatic policy is unclear since it makes the embargo weaker

rramadass 2y ago
The paramount objective is Economic stability by controlling/managing global oil price volatility; everything else is secondary (i.e. Realpolitik). That is why the sanctions are full of loopholes for various European countries (see [1] below). 1) The disillusionment and hope of Western sanctions against Russia - https://www.gisreportsonline.com/r/disillusionment-russia-sanctions/ https://www.gisreportsonline.com/r/disillusionment-russia-sa... 2) The impact of Russia–Ukraine war on crude oil prices: an EMC framework - https://www.nature.com/articles/s41599-023-02526-9 https://www.nature.com/articles/s41599-023-02526-9