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interests / soc.culture.china / Re: Does PRC profit on Ukraine war? [DISCOUNTED Russian oil]

SubjectAuthor
* Does PRC profit on Ukraine war? [DISCOUNTED Russian oil]A. Filip
`* Re: Does PRC profit on Ukraine war? [DISCOUNTED Russian oil]ltlee1
 `* Re: Does PRC profit on Ukraine war? [DISCOUNTED Russian oil]stoney
  `- Re: Does PRC profit on Ukraine war? [DISCOUNTED Russian oil]A. Filip

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Does PRC profit on Ukraine war? [DISCOUNTED Russian oil]

<anfi+ld3sol7ftf-m6k1@wp.eu>

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From: anf...@wp.eu (A. Filip)
Newsgroups: soc.culture.china
Subject: Does PRC profit on Ukraine war? [DISCOUNTED Russian oil]
Date: Mon, 20 Jun 2022 10:34:04 +0000 (UTC)
Organization: It is for me to know and for you to find out.
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 by: A. Filip - Mon, 20 Jun 2022 10:34 UTC

https://www.bbc.co.uk/news/business-61861849
> Ukraine war: Russia becomes China's biggest oil supplier
> ; Published 2022-06-20T05:32:06.000Z
>
> Russia has become China's biggest supplier of oil as the country sold
> *discounted* crude to Beijing amid sanctions over the Ukraine war.
> Imports of Russian oil rose by 55% from a year earlier to a record
> level in May, displacing Saudi Arabia as China's biggest provider. […]

It is _at very least_ a comparative advantage, isn't it?

--
A. Filip : Big (Tech) Brother is watching you.
| It doesn't much signify whom one marries, for one is sure to find
| out next morning it was someone else. (Will Rogers)

Re: Does PRC profit on Ukraine war? [DISCOUNTED Russian oil]

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Subject: Re: Does PRC profit on Ukraine war? [DISCOUNTED Russian oil]
From: ltl...@hotmail.com (ltlee1)
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 by: ltlee1 - Mon, 20 Jun 2022 12:54 UTC

On Monday, June 20, 2022 at 6:34:07 AM UTC-4, A. Filip wrote:
> https://www.bbc.co.uk/news/business-61861849
> > Ukraine war: Russia becomes China's biggest oil supplier
> > ; Published 2022-06-20T05:32:06.000Z
> >
> > Russia has become China's biggest supplier of oil as the country sold
> > *discounted* crude to Beijing amid sanctions over the Ukraine war.
> > Imports of Russian oil rose by 55% from a year earlier to a record
> > level in May, displacing Saudi Arabia as China's biggest provider. […]

Discount? In comparison to current market price. Probably yes.
At the same time, probably still higher than pre-conflict price.

In comparison, American oil company and weapon manufacturers are getting
great windfall profit. So much so that Biden had criticized the former's
historically high profits at the expanse of average Americans.

CBSnews.com headline:
"President Biden tells oil companies to stop making 'historically high profits'
off Americans"
> It is _at very least_ a comparative advantage, isn't it?
>
> --
> A. Filip : Big (Tech) Brother is watching you.
> | It doesn't much signify whom one marries, for one is sure to find
> | out next morning it was someone else. (Will Rogers)

Re: Does PRC profit on Ukraine war? [DISCOUNTED Russian oil]

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Subject: Re: Does PRC profit on Ukraine war? [DISCOUNTED Russian oil]
From: papajoe...@yahoo.com (stoney)
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 by: stoney - Mon, 20 Jun 2022 17:18 UTC

On Monday, June 20, 2022 at 8:54:06 PM UTC+8, ltlee1 wrote:
> On Monday, June 20, 2022 at 6:34:07 AM UTC-4, A. Filip wrote:
> > https://www.bbc.co.uk/news/business-61861849
> > > Ukraine war: Russia becomes China's biggest oil supplier
> > > ; Published 2022-06-20T05:32:06.000Z
> > >
> > > Russia has become China's biggest supplier of oil as the country sold
> > > *discounted* crude to Beijing amid sanctions over the Ukraine war.
> > > Imports of Russian oil rose by 55% from a year earlier to a record
> > > level in May, displacing Saudi Arabia as China's biggest provider. […]
> Discount? In comparison to current market price. Probably yes.
> At the same time, probably still higher than pre-conflict price.
>
> In comparison, American oil company and weapon manufacturers are getting
> great windfall profit. So much so that Biden had criticized the former's
> historically high profits at the expanse of average Americans.
>
> CBSnews.com headline:
> "President Biden tells oil companies to stop making 'historically high profits'
> off Americans"
> > It is _at very least_ a comparative advantage, isn't it?
> >
> > --
> > A. Filip : Big (Tech) Brother is watching you.
> > | It doesn't much signify whom one marries, for one is sure to find
> > | out next morning it was someone else. (Will Rogers)

Price is based on current market supply and demand price, but for their friends like China and others, they gave a lot of discount. India got discount from purchase of Russia's gas too. Even the bankrupt's Sri Lanka is seeking help to buy gas from Russia. Soon every country wants to talk to Russia for cheaper oil, too.

Re: Does PRC profit on Ukraine war? [DISCOUNTED Russian oil]

<anfi+8je7fk9krf-m6k1@wp.eu>

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From: anf...@wp.eu (A. Filip)
Newsgroups: soc.culture.china
Subject: Re: Does PRC profit on Ukraine war? [DISCOUNTED Russian oil]
Date: Mon, 20 Jun 2022 18:17:46 +0000 (UTC)
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 by: A. Filip - Mon, 20 Jun 2022 18:17 UTC

stoney <papajoe168@yahoo.com> wrote:
> On Monday, June 20, 2022 at 8:54:06 PM UTC+8, ltlee1 wrote:
>> On Monday, June 20, 2022 at 6:34:07 AM UTC-4, A. Filip wrote:
>> > https://www.bbc.co.uk/news/business-61861849
>> > > Ukraine war: Russia becomes China's biggest oil supplier
>> > > ; Published 2022-06-20T05:32:06.000Z
>> > >
>> > > Russia has become China's biggest supplier of oil as the country sold
>> > > *discounted* crude to Beijing amid sanctions over the Ukraine war.
>> > > Imports of Russian oil rose by 55% from a year earlier to a record
>> > > level in May, displacing Saudi Arabia as China's biggest provider. […]
>> > It is _at very least_ a comparative advantage, isn't it?
>>
>> Discount? In comparison to current market price. Probably yes.
>> At the same time, probably still higher than pre-conflict price.
>>
>> In comparison, American oil company and weapon manufacturers are getting
>> great windfall profit. So much so that Biden had criticized the former's
>> historically high profits at the expanse of average Americans.
>>
>> CBSnews.com headline:
>> "President Biden tells oil companies to stop making 'historically high profits'
>> off Americans"
>
> Price is based on current market supply and demand price, but for
> their friends like China and others, they gave a lot of
> discount. India got discount from purchase of Russia's gas too. Even
> the bankrupt's Sri Lanka is seeking help to buy gas from Russia. Soon
> every country wants to talk to Russia for cheaper oil, too.

If you want it another way: Discounts most likely will be decreasing
(significantly+ after a few months). Initial period of switching
markets/bulk-buyers is the most risky. Selling marketing/promotional
discounts as political favors is not stupid :-)

--
A. Filip : Big (Tech) Brother is watching you.
| When your life is a leaf that the seasons tear off and condemn They
| will bind you with love that is graceful and green as a stem.
| (Leonard Cohen, "Sisters of Mercy")

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