Why the West is reluctant to deny Russian banks access to SWIFT

Re:Why the West is reluctant to deny Russian banks access to... by rr808 on Friday February 25, 2022 @12:20PM (#30469612)

USA meanwhile 10% of oil imports are from Russia - more than from Saudi. https://www.eia.gov/dnav/pet/pet_move_impcus_a2_nus_ep00_im0...

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Re:Why the West is reluctant to deny Russian banks access to... by oh_sigh on Friday February 25, 2022 @01:21PM (#30470377)

That's a bit different though.

Germany is mostly importing finished products (natgas) from Russia. This is like Russia sending bread to Germany and Germany is eating the bread.

Whereas Russia is sending the US unfinished products (crude). The US is then refining the crude and selling it to someone else. This is like Russia sending wheat to the US, the US making bread out of it, and then selling the bread.

It's much easier to stop baking and selling bread than it is to stop eating bread (if that is all you're eating).

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Re:Why the West is reluctant to deny Russian banks access to... by chasd00 on Friday February 25, 2022 @12:47PM (#30469932)

now that oil is so expensive shouldn't all the fracking wells come back online? i thought for sure there was a price ceiling on a barrel of oil at around $75. Maybe it happened too fast to bring that capacity back online?

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Re:Why the West is reluctant to deny Russian banks access to... by graphpercolator on Friday February 25, 2022 @01:54PM (#30470750)

For sure. $100 dollar oil makes a ton of supply profitable.

It just won't be here tomorrow though.

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Re:Why the West is reluctant to deny Russian banks access to... by dghughes on Friday February 25, 2022 @12:54PM (#30470015)

And 20% from Canada, it's dirty oil but I bet it could be bumped to 30%.

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