Comments by "Toby" (@toby9999) on "Russia's Declining Oil Capacity and the Deeper Problems of Cartel Politics" video.

@u2beuser714 Not really. Banks can not magically convert currencies. It's even more difficult right now with rubles. No one wants them due to sanctions and Russia's manipulation of their value. And there needs to be buyers and sellers. Russia was effectively building up credit in India because rupees are no good to russia given that russia doesn't buy much from India.
3
Is it really that complicated? The way I see it... Russia is selling less oil since sanctions were imposed, and volume is still falling, hence production cuts. There's no where for the oil to go. Why isn't it that simple? The cartels seem irrelevent right now (within the context of russian oil).
1