

Yes, that’s what the sanctions are intended to do. Russia should struggle to make any profit from their gas and oil. It would be ideal if they couldn’t sell at all, but forcing them to sell at steep discounts is still very good. This Hormuz straight business has unfortunately caused the price of oil to go up, which will significantly increase the price Russia can sell at.

























They’ve been selling oil and gas this entire time, there isn’t any need to secure customers, they already have them. The discount is essentially the effect that they have a smaller pool of buyers, and those buyers piss off a number of other players (countries, buyers, sellers, insurance, etc) by buying from Russia. A few buyers have to also contend with paying a country that has demonstrated a willingness to invade their neighbors. Many of the former Soviet states, for example, have continued to buy Russian oil this entire time, while putting in big efforts to transition away. Their oil and gas purchases have been heavily criticized by people who don’t understand how long it takes to change energy sources.