Russia cutting off oil?

[AtW]

Well the bits they want. There's nothing we can do about it. They must be cackling in the Kremlin when the EU talks about sanctions - we need their stuff (gas, oil) more than they need ours.
Welcome to realpolitik.

Russia is importing 70-75% of food from other countries - people won't have anything to eat if full sanctions are imposed. Who can handle longer - Russia without food supplies or EU without oil/gas? Let's not forget - Russia supplies 35% of gas to EU, that's not 100%.

Sanctions on top members of Russian Govt should be imposed immediately - no visas, including for their relatives, total check of all big bank accounts to see if they are in any way affiliated with them - publish all publicly when such accounts are found. Complete ban on luxury goods - no Mercs, Porsches etc.

[Incognito]

And do you think that China will expose itself to relying on russian oil in the same way that Europe has?

What China has the luxury of is being bordered by both of the most resource rich regions in the world. They can afford to pick and choose.

[DodgyAgent]

MAD

If you are trying to be clever shorty its not working

[sasguru]

And do you think that China will expose itself to relying on russian oil in the same way that Europe has?

They can stockpile Russian oil while still preserving their existing sources. Do you know how large China's foreign reserves are, as opposed to the bust of our own finances?

[AtW]

Asia will do. The Chinese and Indians can use all of it - and pay for it.

LOL. Geo-politik guru style.

Do you know that China refused to pay European prices for oil and gas from Russia? They simply can't pay 400 dollars per 1000 cubic meters and 150 for oil, and you bet Chinese won't pay anywhere close that if they know that Russia has nobody else to sell it to.

And the kicker is that there are no big pipelines to China - best of all oil production is such that if it is interrupted (and it will be if you can't pump it away) then it may cause big damage to wells, effectively you can't afford to stop doing it until the damn hole in the ground is empty.

[chef]

it's ok, the vodka is fine.. although she was asking about beetroot and potatoes

[DodgyAgent]

What China has the luxury of is being bordered by both of the most resource rich regions in the world. They can afford to pick and choose.

China would be better off annexing Iran then

[AtW]

Do you know how large China's foreign reserves are, as opposed to the bust of our own finances?

$1 trln of all China reserves will buy 6,666,666,667 barrels of oil @ $150 per barrel, China uses 6,534,000 barrels per day (and its growing), this means they can only buy 3 years worth of oil using their whole reserves.

Source: http://www.nationmaster.com/graph/en...il-consumption

[sasguru]

If you are trying to be clever shorty its not working

I wasn't, dopey.
MAD=Mutually Assured Destruction.
In practice this means that there will be an unspoken agreement that the US looks after it's backyard while Russia looks after its own, just like in the cold war.

[snaw]

China would be better off annexing Iran then

Oceania, Eurasia and Eastasia here we come!