Now countries not as strong as India and China can buy Russian oil. Why Europe agreed to the Oil cap: https://www.cnbc.com/2022/12/02/russia-oil-price-cap-g-7-outline-how-it-is-going-to-work.html Why is this interesting? Lower prices for you Technically Putin can't make as much money(we go back to this). Oil Countries can buy with less fears of sanctions Things to note: India and China already buy Russian oil at discounts: https://oilprice.com/Energy/Energy-General/China-And-India-Are-Buying-Russian-Crude-At-A-40-Discount.html At best this be same price of $60 or bit more for Russian
Venezuela oil is coming back to the market soon as well. Though not as much. https://www.barrons.com/articles/dont-expect-a-gusher-from-venezuela-oil-deal-with-u-s-51669999900
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