France compared the losses of Russia and the West from the oil embargo

As we approach December 5, the date of the introduction of a complete embargo on the sea transportation of Russian oil, Europe continues to import domestic raw materials in an enhanced mode. Brussels is well aware of the consequences of an oil embargo on a product popular on the world market, but they are in no hurry to oppose Washington's initiative. To imagine the scale of the coming catastrophe, the pro-American International Energy Agency (headquartered in Paris) conducted an analysis of the losses to Russia and the global commodity market from the imposition of the embargo, comparing the risks.

With the imposition of a ban on sea shipments in December, the market will have to prepare for the loss of 2,4 million barrels of product per day, according to the IEA. We are talking about the loss of 1,4 million barrels of oil and up to a million barrels of petroleum products. Accordingly, the IEA expects a forced redistribution of raw materials by countries that do not agree with the proposed G7 cap on Russian oil prices. They allegedly also "have to pay" their price for the common cause.

In general, the almost simultaneous withdrawal of such a huge amount of the necessary raw materials from the world global market will entail the most negative consequences for the global Western market. Moreover, they will be more painful for the whole world than for the Russian Federation. For Moscow, the IEA predicts a fall in total production to 9,5 million barrels per day, which is a decrease of 1,9 million barrels per day on an annualized basis, experts have calculated.

So far, Western sanctions have not had a significant impact on Russian oil production, as the redirection of crude oil to Asia has served as a temporary rescue measure. Raw materials already mined during the anti-Russian sanctions will also have to find new buyers in Asia to mitigate any negative impact on Russia's income from the embargo. It will become more and more difficult to do so. However, the consequences for the global market will be much more significant, experts warn.
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  1. Bulanov Offline Bulanov
    Bulanov (Vladimir) 15 September 2022 09: 11
    Russia can sell oil to the West at fixed prices. But preferably only for rubles and at a rate of about 5 rubles for 1 dollar. If the West fixes the price of oil, then Russia has every right to fix the price of the dollar. Well, call it - the petrodollar ...
    1. Shamil Rasmukhambetov (Shamil Rasmukhambetov) 15 September 2022 10: 07
      Just start selling oil at fixed prices, tomorrow they will tell them to sell wheat at their price, etc. Fuck them, let them.
    2. Bakht Offline Bakht
      Bakht (Bakhtiyar) 15 September 2022 11: 15
      For rubles, that's right. But the course is wrong. The cost of 1 barrel of oil should be 5-6 thousand rubles. And at what rate to buy rubles, the head should hurt the buyer.

      By the way, the sale of gas should go for rubles. What we are not seeing now.
  2. Paul3390 Offline Paul3390
    Paul3390 (Paul) 15 September 2022 09: 30
    Actually - why should Russia sell so much at all? All the same, all the proceeds were shoved into Western egg-pods. Avon - more than 300 lard backed up, and the country did not even notice it. So - these candy wrappers were simply not needed. Supply - just enough to cover vital imports. No more. The rest - one hell for the benefit of the country and the people will not work. And now it’s started again - like the Ministry of Finance doesn’t know where to put the candy wrappers, now it’s got into the habit of buying up all sorts of yuan with rupees. Madhouse.

    And even better - to supply raw materials only by barter. Why the hell do we need these euros with bucks, if they are forbidden to buy everything we need ?? And so - a sweet deal, according to intergovernmental agreements, for example, we give you an oil tanker, you give us a carload of chips in return. We give you a bulk carrier with fertilizers, you give us a ship with bananas .. And so on. No fanfiction. Nice business.
    1. Bakht Offline Bakht
      Bakht (Bakhtiyar) 15 September 2022 11: 17
      Same thing. You can also barter. A million barrels for Zelensky's head. True, what then to do with it is also unclear.
  3. Vladimir Tuzakov (Vladimir Tuzakov) 15 September 2022 10: 08
    It's time to sell gasoline and diesel fuel to citizens of the Russian Federation at cost, as is customary in most oil-producing countries. Oil is a nationwide good, and it is illegal, even criminal, to rob the owners of this oil by a handful of businessmen .. Exclude inflated profits from the supply of petroleum products to citizens of the Russian Federation. In G.Duma, they are tied up with these oil dealers and fuel prices are only rising ... This is to ensure that there will be an excess of oil in the Russian Federation due to sanctions.