There are many countries queuing to buy Russian oil, including China and India.
Why should Russia cares about G7?
Russia told G7, any country setting the ceiling, Russia will exclude them from buying.
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Dun work one lah. U can go coffee shop say I willing to pay for roti prata 40 cents? They tell u dun eat. LoL
Even my 5 yo nephew knows dun work.
If I am Russian I will bar those part of the price setting gang from buying Russian oil
Of course Russia won't sell oil to Europe or G7 for $60. The rationale for the cap is to limit the price that Russia can charge to China and India who will drive a very hard bargain of just above $60.
West has finally become Communist.
欧盟对俄石油限价令正式生效，普京：谁限价就断谁的油和气！
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No use lah. Even selling at 60USD.
Russia still gain 100Billion per year.
If selling at USD 40. Shale oil companies will bankrupt.
(08-12-2022, 10:49 PM)debono Wrote: [ -> ]Quite true, forcing Russia to sell oil to EU nations, at less than US$60 per barrel will not work........... 
A bunch of Clowns lah.
Look like OPEC is getting closer tie with China.
Let see how quick China signs the 50 years oil contract with them. Take note, it will be using RMB not USD hor.
(08-12-2022, 11:08 PM)debono Wrote: [ -> ]The Chinese are great builders, and they can built infrastructures cheaply, thence the Middle-eastern countries wants them to built their infrastructure, e.g. railroads which is their specialty......... 
China produces total 30% of the world engineers.
Without them, how can China become world factory.
Talk is cheap, dont blindly listen to the western news.
Where to find so many qualified engineers outside China.
(08-12-2022, 10:51 PM)RiseofAsia Wrote: [ -> ]A bunch of Clowns lah.
Look like OPEC is getting closer tie with China.
Let see how quick China signs the 50 years oil contract with them. Take note, it will be using RMB not USD hor.
Xi jinping now in Saudi. No news whether issit using rmb or what
(08-12-2022, 11:26 PM)sogo Wrote: [ -> ]Xi jinping now in Saudi. No news whether issit using rmb or what
To hurt the US economy, Pre. Xi wants to pay for oil to the middle-eastern counties in RMB instead of the green backs...........
(08-12-2022, 11:32 PM)debono Wrote: [ -> ]To hurt the US economy, Pre. Xi wants to pay the middle-eastern counties in RMB instead of the green backs...........
But no news leh. Should pressure Powell to hike more rates to save usd
The idea is not what you guys say
If Russia wishes not to sell to G7 due to price cap it remove dependence of G7 on Russian oil
If Russia sells to G7 it has to do so at low price so it does not fill Russia war coffers
Russia can of course go to India or China to sell and these countries knowing that Russia faces price caps in major economies will demand a discount.
Russia has ruined its future with a war it cannot win. It will be the dog begging for food from those willing to give ...they will throw it a bone or 2.
Mr Sgbuffett so you think Russia will sell oil at $60 har....than most of the market oil counters how ?
(09-12-2022, 05:49 AM)ysh02 Wrote: [ -> ]Mr Sgbuffett so you think Russia will sell oil at $60 har....than most of the market oil counters how ?
I have no view on oil counters.
But oil price has been falling due to it impending tree recession