https://www.nytimes.com/2022/07/29/opinion/russia-oil-sanctions-biden.html

This NYTimes piece is prefaced by the following:
"The Editorial Board
The editorial board is a group of Opinion journalists whose views are informed by expertise, research, debate and certain longstanding values. It is separate from the newsroom."

But of course, the most important issue is not whether the opinion is separate from the newsroom, but whether it is separate from the reality.

"Nations seeking to help Ukraine are aiming at the wrong target. They have focused on reducing Russia’s energy exports instead of reducing Russia’s earnings from energy exports. Russia is exporting less oil but, in a perverse twist, it is earning more money, according to the Center for Research on Energy and Clean Air, based in Finland. The sanctions have raised prices, more than offsetting the decline in exports. In May 2022, Russia earned 883 million euros per day from oil exports, up from 633 million euros per day in May 2021.

The situation is about to take a turn for the worse.
....
The Biden administration has a plan that could avert this crisis. It would establish a buyer’s cartel — an agreement among Russia’s customers to put a price ceiling on Russian oil. That ceiling would be significantly lower than the current market price, sharply reducing the role of Western consumers in funding the Russian military.
....
Constructing a cartel is not easy. ... The buyers’ cartel would be strengthened if other big buyers of Russian oil, notably India and China, could be persuaded to participate. That seems unlikely. But U.S. officials argue the cartel could still increase pressure on Russia by allowing nations that are not participating to extract larger discounts, too."

How realistic is this buyers' cartel at present? To answer the question, one needs to answer the following questions?
1) Is the oil market grossly overproduced before the sanction?
2) Was Russia playing a small role in world market?

Given that the pre-SMO price was on an up trend, the oil market is not overproduced.
According to a recent IEA article subtitled "Russia plays an outsized role in global oil markets", the answer to question 2) is also a "NO".

It is an opinion piece. But in the absence of analysis such as a rudimentary supply and demand model. It is no better than separate from reality wishful thinking.

On Sunday, July 31, 2022 at 9:55:10 AM UTC+8, ltlee1 wrote:
> https://www.nytimes.com/2022/07/29/opinion/russia-oil-sanctions-biden.html
>
> This NYTimes piece is prefaced by the following:
> "The Editorial Board
> The editorial board is a group of Opinion journalists whose views are informed by expertise, research, debate and certain longstanding values. It is separate from the newsroom."
>
> But of course, the most important issue is not whether the opinion is separate from the newsroom, but whether it is separate from the reality.
>
> "Nations seeking to help Ukraine are aiming at the wrong target. They have focused on reducing Russia’s energy exports instead of reducing Russia’s earnings from energy exports. Russia is exporting less oil but, in a perverse twist, it is earning more money, according to the Center for Research on Energy and Clean Air, based in Finland. The sanctions have raised prices, more than offsetting the decline in exports. In May 2022, Russia earned 883 million euros per day from oil exports, up from 633 million euros per day in May 2021.
>
> The situation is about to take a turn for the worse.
> ...
> The Biden administration has a plan that could avert this crisis. It would establish a buyer’s cartel — an agreement among Russia’s customers to put a price ceiling on Russian oil. That ceiling would be significantly lower than the current market price, sharply reducing the role of Western consumers in funding the Russian military.
> ...
> Constructing a cartel is not easy. ... The buyers’ cartel would be strengthened if other big buyers of Russian oil, notably India and China, could be persuaded to participate. That seems unlikely. But U.S. officials argue the cartel could still increase pressure on Russia by allowing nations that are not participating to extract larger discounts, too."
>
> How realistic is this buyers' cartel at present? To answer the question, one needs to answer the following questions?
> 1) Is the oil market grossly overproduced before the sanction?
> 2) Was Russia playing a small role in world market?
>
> Given that the pre-SMO price was on an up trend, the oil market is not overproduced.
> According to a recent IEA article subtitled "Russia plays an outsized role in global oil markets", the answer to question 2) is also a "NO".
>
> It is an opinion piece. But in the absence of analysis such as a rudimentary supply and demand model. It is no better than separate from reality wishful thinking.

Russia needs to increase its profit sales from one billion to 10 billions by increasing its price to EU and US and they do not comply, it should be further reduced to 10 percent of outflows to EU and for some stubborn countries of EU and US which sent arms to Ukraine, they will get complete cut-off in supply until they stop their disobedience and to pay in rubles and pay at Russia's pricing, too.

Russia should form cartel of partners of their own friendly countries like what the OPEC of middle-east countries was formed to control production output and control of selling price, too. Russia should work into giving discounts from their profit sales earned to poor countries to join their cartel partners who are opposed and against the policies of US and EU and their 5 Eyes countries, too.

Make no mistake, if Russia does not do that, then one fine day, they will not have a footing in the world market place to direct and decide their oil and gas prices to their foes. From September to next April, in that 6 months of cold winter months, they can paralyze the economy of EU with gas shut-down from time to time to let the EU people to enjoy some cold nights.