>

The ruble is still up from a year ago.
Who else is buying it at 50% other than china and india? >

India imported 3702 thousand tonnes of oil in august. European union at the same time imported 6702 tonnes in the same time. >

Why is this not well known. I hear the  western media constantly whine about India importing oil from Russia. But they rarely speak of the hypocrisy. >

Thats because europe decreased their imports while india increased theirs 23 times. >

When Europe buys from the middle east, it puts pressure on countries that don't have similar purchasing capacity as Europe. Also, Europe didn't stop importing Russian oil citing the energy security of the country as its reason. Please extend this privilege to other Asian countries that have 1/10th per capita GDP (income) as European countries. Asian economies are in turmoil. Sri Lanka and Pakistan are facing economic collapse, largely because of the war. People are dying because they are unable to afford basic human necessities right now. Leaders of these countries are doing whatever they can to soften the impact of this economic collapse. >

I dont think anyone expected from India or other developing nations to put sanctions on russia, thing is increasing trade of oil by 23 times starts to look like war profiteering, and less like just keeping pre war trading status quo. >

When the price caps were announced, Russia countered that they would completely ban sales to anybody who accepted them. Since the current price is well below the caps, I assume that's all still theoretical? Has anybody said explicitly that they will or will not respect the caps? >

Basically it was impossible for Russia to do so. The price caps are on ships by virtue of putting them on the insurances. 95% of all ship insurance money is in the US or EU. The rest of the world combined is unable to insure oil tankers of that volume.
You can't enter a harbor or even most national waters without insurance. So you MUST be insured in the US and EU which in return means there is no way around these caps.
Russia saying they plan to ban the insuranses that comply with these laws is basically Russia saying they will self-embargo their own oil shipping industry. >

You are having a Black Friday Sale, huh? Redo your business model with the first step: Withdraw from ALL of Ukraine! >

"We refuse to accept a price cap at 60c a barrel!" Sells at 40c instead. >

Good. Let's push it all the way down to 100% discount. >

We tried to treat them as a trustworthy and reliable business partner for decades but it just didn’t work out for obvious reasons. >

I bet it would be doing better if they weren't trying to take land they don't need. >

Isn't it fascinating that the oil business can still tick along when trading at 50% discount. Demand is still so high worldwide in this climate emergency age that companies can still make so much money from it, funnelling vast amounts back into our media to convince us that we need to keep them going so they can bleed ever more from us.
Humanity is doomed. >


oil business can still tick along when trading at 50% discount

Until they don't. How it happens go ask Venezuela, a country with the most oil in the world that extracts almost nothing. >

Well, they screwed their own pooch... When you fire 22k oil engineers they all leave the country and take their highly valuable skills with them. The equipment they "nationalized" also slowly rotted away. Surprise no foreign countries/firms want to invest in your shit when your entire MO is "nationalize what the other place paid for." >

The problem isn't nationalizing oil - its what Saudis have done, and its worked out well for them. The problem was treating the industry like criminals, even as their own state depended on oil sales. Unlike the Saudis, Chavez treated the engineers and firms that remained even after nationalization like total shit. He invested nothing, maintained nothing, and expected the money to just keep flowing forever. >

Nationalizing oil isn’t itself the biggest reason. Like I said they shitcanned 22k if the most valuable people on their economy and replaced them with party loyalists.
Grew up in HTX and one of my best friends family moved from Venezuela. Daddy got booted from his job and came to the USA where he could make 6 figures in the 80s-90s.
That being said, nobody invests SHIT there these days. Build a hotel for tourism? Nationalized. Build a grocery store chain? Nationalized. Invest in any companies that leads to their success? Nationalized. You invest in Venezuela and you lose your investment regardless of the industry.
Saudis had the foresight to see that oil, and maintaining the industry and infrastructure was of utmost importance. They were also wise enough to keep a relationship open with the USA even during the 70s. >

Well the Russians may not have fired their engineers but they've certainly incentivized them to flee if possible, and they depend a lot on foreign tech and technicians in the first place. Which means they're due to have some serious infrastructure problems too. >

Poor lil' Russia 😭 >

They are going to become a client state. >

Seems like a great arbitrage opportunity.  Buy it cheap from Russia and sell it at full price elsewhere. >

Thats... What a lot of companies did, in earlier months.
They would buy russian oil, mix it with a oil from another country (49% russian amd 51% from another country) and sell it as "non russian oil". >

Source? 
As far as I'm aware you can't just mix crude oil like that because many refineries are set up to process oil from specific places >

Only refineries with big pipelines from specific places work like that. They still work with different crude oils but efficiency is lower. Especially sulfur content can be a problem, where refineries are either not equipped to handle high sulfur contents and would miss specifications for the product / exhaust gases or if sulfur content is too low the refinery might not be able to compensate for the heat lost in the claus process.
Refineries at ports are a different thing. They are equipped to handle very different kinds of oil and usually take a sample from whatever tanker is approacing the port. >

Thank you for the explanation >

should be 150% >

Blood money is always cheaper >

Excellent.  I hope they go down in flames. >

If we keep it up and add more sanctions we could make their oil worthless. Like Putin and his henchmen. >

Can we buy and resell this? >

Actually it became illegal, that's the point of the sanctions >

Guh, we are gonna cause a civil war with this shit.