Russia earning billions from Hormuz blockade, German trade body says | dpa international
dpa-international.com

Russia’s profits from exporting oil, gas and fertilizer amount to more than €10 billion ($11.54 billion) a month, the chamber said. “Russia is the big winner of the new war in the Middle East,” Matthias Schepp, the chamber’s chairman, told dpa.

  • GenosseFlosse@feddit.orgEnglish
    3·
    19 days ago

    Wasn’t there a price limit where Russia could sell the oil for, set in 22? Afaik insurance would not touch ships above the set value, and uninsured ships could not dock in western ports.

    • Melchior@feddit.orgEnglish
      7·
      19 days ago

      Russia was selling its oil mainly to China and India, which are not western. If they get a high enough discount, then they are willing to take the risk. With oil at $100 or similar even something like $70, which is well above the price cap, would be a good deal for them and worth the risk.