Quote:
Originally Posted by woj
so if hypothetically the West stops buying Russian oil/gas (which accounts for ~2/3rds of Russian economy)... who will Russia sell that gas/oil to? wouldn't they now have to sell 3x to those remaining countries? Why would those countries suddenly start buying 3x oil/gas?
that scenario is likely not very realistic, but same logic follows if the West were to reduce their trade with Russia by 10% (likely very realistic scenario?)... that would imply that for Russia not to lose on the deal they would have to sell 30% more to the remaining countries (likely unrealistic?)...
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Russia would very easily find other countries to sell thier resources to, They do not have to sell more to other non western countrys. The Uk buy Russian oil because of its price and relative distance for shipping costs. If we stoped trading oil with them it would cost us more to import the same amount of oil from other countrys, compared to what we get it for from Russia.
The same will go for gas to other EU countries If Russia decided to cut of the gas supply they would be in a whole heap of trouble. The Ukrain allready owe Russia millions for gas which they have not paid for, so it might even be in Russia's best intrest to find other buyers and stop supplying to countries who cant pay the bill.