Three tankers carrying more than 2 million barrels of Russian oil are floating in the waters off the coast of east China and cannot be unloaded after the United States imposed new sanctions on Russia’s largest oil companies on Friday, 10 January.
That is what Russia is doing, however the West is sanctioning entities involved in this all the time. That increases risk and means extra work. So Russia can not make as much money selling oil like this and if customers have a choice, it is easier to deal with legal oil. So if oil prices fall, then Russia is going to sell less oil.
That is somewhat true for all sanctions. Russia is going to find ways around them, but even then it hurts Russia.
That is what Russia is doing, however the West is sanctioning entities involved in this all the time. That increases risk and means extra work. So Russia can not make as much money selling oil like this and if customers have a choice, it is easier to deal with legal oil. So if oil prices fall, then Russia is going to sell less oil.
That is somewhat true for all sanctions. Russia is going to find ways around them, but even then it hurts Russia.