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deez_treez t1_j1wz450 wrote

Cap is working as intended then. Putin surprisingly bad at strategy, probably dealing with a lot though.

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Varolyn t1_j1wztoq wrote

It is kind of funny to see that there are some pundits who seem to think that this is a genius move by Putin:

https://oilprice.com/Latest-Energy-News/World-News/Putin-Bans-Oil-Sales-To-Countries-That-Comply-With-G7-Oil-Price-Cap.html

... and unsurprisingly, it's a right-wing blog that wrote this article.

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fiftyeleventimes t1_j1xdgjz wrote

Zerohedge is not a pundit site. It is passion project from a fake libertarian who calls himself "Tyler Durden." It frequently flat out lies: "As for the US stepping in a providing emergency cover to nations who may be caught in the crossfire, sorry - Joe already drained a third of the SPR to get Democrats reelected."

That's just made up. Biden released oil to oil companies with the agreement to buy it back at a fixed price. Zerohedge has zerocredibility.

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Core2score OP t1_j1xe095 wrote

I used to think he was cunning and calculated, but this war has revealed him to be so stupid he could be diagnosed with a mental growth stunt.. literally the manual gearbox on my dad's beat up 1970s Chevrolet is more intelligent.

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GoodAndHardWorking t1_j1xaaqg wrote

The cap is meant to reduce Russias ability to strategically leverage oil prices and to benefit from disruptions to supply, without disrupting global markets that depend on that supply. If this ban disrupts those markets, then the cap is not working as intended.

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