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SardScroll t1_j1wyvk5 wrote

Reply to comment by Core2score in Putin bans Russian oil sales to countries that accept West's price cap by Core2score

It's all relative to the amount of oil (and it's importance to the country's economy) that is being bought. See also, India which has been buying loads of oil at reduced prices.

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TapSwipePinch t1_j1x8pki wrote

If India is the only one buying can't it just, you know, buy for cheaper? You know, until it eventually goes to this price cap range anyway.

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GoodAndHardWorking t1_j1xa0v2 wrote

It's already trading below the price cap. The point of the cap is that instability with the supply can cause the price to shoot up, which benefits Russia, who can also cause the instability that increases the price. So capping the price reduces Russias ability to strategically leverage the oil supply.

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