Canada Bans Russian Oil & Crude Products

[Economy 52,907]

https://www.bloomberg.com/news/articles/2022-02-28/trudeau-says-canada-to-ban-russian-crude-oil-imports

 

In addition to financial sanctions on Russia and products some Provinces banned (Canadas most populated Province just banned Russian alcoholic beverages for example)...

 

Canada is now adding energy products to the list of sanctions, Russias biggest export and life blood

 

Because Canada is the worlds 4th largest producer of Oil, a major producer of natural gas also, and the majority of refined products from outside of Canada such as gasoline comes from USA... This ends of being more symbolic and a small action as total energy imports to Canada from Russia are relatively small especially in the Eastern half of the Country where the majority of the population is

 

If any part of Canada feels any pinch at all from this British Columbia is likely to be the Province as it is the part of Canada most exposed to international oil markets outside North America

 

 

[PartySick 172,980]

Is there a pie chart somewhere that shows where all Russian oil imports go?

[Economy 52,907]

2 minutes ago, PartySick said:

Is there a pie chart somewhere that shows where all Russian oil imports go?

U mean their exports?

 

Their products:

 

 

The Nations:

 

[PartySick 172,980]

Just now, Economy said:

U mean their exports?

 

Their products:

 

 

The Nations:

 

I kinda found what I was looking for here but I didn't verify this  but yeah "exports by destination" is the way it's worded, I guess.

Wow though  oil and gas make up almost 3/4ths of their exports according to your chart. These bans on their stuff is really going to get them, huh?

[Economy 52,907]

4 minutes ago, PartySick said:

I kinda found what I was looking for here but I didn't verify this  but yeah "exports by destination" is the way it's worded, I guess.

Wow though  oil and gas make up almost 3/4ths of their exports according to your chart. These bans on their stuff is really going to get them, huh?

Is that sarcasm? Cuz stuff excluding energy and metals is so little of their exports and few nations have banned that so how does that hit their exports hard? Lol. I think the financial sanctions on Swift so far is the toughest thing weve done tbh

 

But yeah they are insanely dependant on energy. In fact excluding OPEC nations I dont know if there is any other Country with such a strong dependancy on energy for their economy. Maybe there is and im not aware.

 

Makes me wonder if Putin purposely waited for energy prices to surge because it would provide Russia with a lot of income and perhaps also make Nations more reluctant to sanction their energy during an energy shortage

 

Not sanctioning their commodities means we are still not hitting their main source of income tho admitedly its very difficult for many Nations to do this

 

Although in the long run this only makes them even more dependant on fossil fuels if we cut out the rest of their exports and even more unprepared for a global transition away from fossil fuels but thats a long term thing. In the immediate term if we dont hit energy somehow we are not hitting them where it hurts most

[Concertaholic 6,592]

If we had invested more in renewables instead of oil and gas, Russia would be broke and irrelevant at this point! Damn oil and gas companies and lobbyists 

[Economy 52,907]

On 2/28/2022 at 8:07 PM, Concertaholic said:

If we had invested more in renewables instead of oil and gas, Russia would be broke and irrelevant at this point! Damn oil and gas companies and lobbyists 

Hard to say... They are not a high cost producer which means if the world consumed less high cost producers like UK, Canada, Venezuela and USA would probably be the ones to be producing less now cuz they couldnt compete with lower prices but producers like Russia and Saufi Arabia would still make money

 

In the meantime making LESS money from lower prices and demand may have made the Russians take economic diversification more seriously

 

Either way tho, broke and irrelevant or not, I agree if we werent as dependant on fossil fuels it would be easier to sanction them now