Changes

'''Urals oil''' is a blend of heavy sour oil from the Urals mountains and Volga river area and light oil from Western [[Siberia]]n fields.

'''Urals oil''' is a blend of heavy sour oil from the Urals mountains and Volga river area and light oil from Western [[Siberia]]n fields.

As part of the [[World Economic Forum]]'s [[Great Reset]] and plan to ban all private gas-powered vehicles by 2030, the [[G7]] settled on the idea of a price cap on Russian crude oil. Because of the objections of the landlocked EU countries who were supplied by pipeline, they were exempted from the cap mechanism by imposing the cap on waterborne shipments of crude only. [[Germany]], the [[Netherlands]], [[Italy]], and other EU countries would be affected because they historically relied on Russian crude, and their refineries were “tuned” to Russian (Urals) crude. Those countries were not exempted from implementing the cap. The [[NATO war in Ukraine]] was used as the excuse to impose the cap.  

As part of the [[World Economic Forum]]'s [[Great Reset]] and plan to ban all private gas-powered vehicles by 2030, the [[G7]] settled on the idea of a price cap on Russian crude oil. Because of the objections of the landlocked EU countries supplied by pipeline, they were exempted from the cap mechanism by imposing the cap on waterborne shipments of crude only. [[Germany]], the [[Netherlands]], [[Italy]], and other EU countries would be affected because they historically relied on Russian crude, and their refineries were “tuned” to Russian (Urals) crude. Those countries were not exempted from implementing the cap. The [[NATO war in Ukraine]] was used as the excuse to impose the cap.  

The basic idea is that [[the West]] (G7, EU, [[U.S.]], etc.) wanted to curtail the income that Russia was receiving from the sale of a valuable commodity. In other words, a group of customers were going to stipulate the price of the crude, with no negotiation between themselves and the supplier. That might work if the buyers were the only buyers in the marketplace. The West was confident that they could pressure all of the other buyers worldwide to “fall in line” with their decree. The West was also confident that they could prevent surreptitious behavior of [[market]] participants, i.e., those who might buy Russian crude and mix it with other crudes to mask the identity of the Russian crude.  

The basic idea is that [[the West]] (G7, EU, [[U.S.]], etc.) wanted to curtail the income that Russia was receiving from the sale of a valuable commodity. In other words, a group of customers were going to stipulate the price of the crude, with no negotiation between themselves and the supplier. That might work if the buyers were the only buyers in the marketplace. The West was confident that they could pressure all of the other buyers worldwide to “fall in line” with their decree. The West was also confident that they could prevent surreptitious behavior of [[market]] participants, i.e., those who might buy Russian crude and mix it with other crudes to mask the identity of the Russian crude.