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Let's recap
• Ban G7 member Urals imports ("embargo" Urals)
• Fix G7 $/bbl Urals below cost, inexplicably
• Penalize unauthorized ROW Ural contracts, shipping, insurance, and imports
• Sell G7 Urals prix fixe sanction waivers to world
• Assume OPEC "excess capacity" exports, becaus obligation to balance demand
• Watch RF production collapse, benchmark $/bbl explode
• Profit!

Actual 1YR trend (ex ROW "discounts", bi-lateral currency settlement)

yahoo! Bloomberg | Russia Floating Long-Term Oil Contracts ahead of G7 racketeering, 24 Aug

"We are working very hard to implement this joint project," Scholz told reporters earlier this month. "However, it will not work if only the G-7 countries agree on it. There are others who are needed as partners."
and even then, ya gits. Slava Ukraini!
readovka | It is in Russia's interests to conclude long-term oil contracts with Asians as soon as possible, 24 Aug
The [FY 2022/23] budget still include[s] a price of just $62 per barrel.

by Cat on Fri Aug 26th, 2022 at 03:16:21 AM EST
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