Russia lost by far its most important client

My comments I wont predict the immediate results on oil in the markets.

I will say this move will further depress oil prices. Russia will get some or most of the oil/diesel onto the market. Most of the supply will go to India and China at hugely reduced prices as we dictate them. Russia reeling will just have to take what we decide in payment. Russia wont get an extra cent out of any kindness from the Indians or Chinese.

The Indians and Chinese are equally uninterested in being kind to Opec.


The escalation is aimed at further throttling Russia’s energy business, cutting it off from its most important export market. Sales of petroleum products are crucial for financing the country’s budget and, ultimately, its war in Ukraine. The West is hoping to slowly diminish this source of money for the Kremlin.

“Russia lost by far its most important client,” said Fatih Birol, executive director of the International Energy Agency, in an interview.