The Oil war between Russia vs USA and Europe Explained | How will it change India? : Geopolitics

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VIDEO INTRODUCTION:
Starting from 5th of December 2022, the European Union implemented a masterplan to impose something called the oil price cap on the Russia. So from 5th onwards, they would limit the purchase of oil at 60 dollars a barrel.
And this has sent yet another shock wave all across the world!!! Why?? Because in response to that Russia has announced a ban on all oil exports to g7 and all other countries that follow this price cap!!!

This is what marks the beginning of yet another round of economic warfare between Russia and 8 of the most powerful countries in the world including Canada, France, Germany, Italy, Japan, UK, United States and even Australia.

And just like the gas war and sanctions this economic battle is going to have a lasting impact on India, China and every other country in the world. And India literally stands on the thin line of diplomacy between these critical economic warfare. So the question is, Who is going to win this economic warfare and How is it going to affect India?

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✅Study Materials:

https://home.treasury.gov/system/files/126/price_cap_policy_guidance_11222022.pdf

https://indianexpress.com/article/explained/explained-economics/g7-russia-oil-price-cap-explained-8308305/

https://finance.yahoo.com/news/effectively-russia-bypass-g7-oil-000000652.html

https://iranprimer.usip.org/blog/2019/oct/02/irans-tankers-and-its-smuggling-tactics

https://www.politico.com/newsletters/global-insider/2022/07/11/how-russia-and-irans-illicit-oil-travels-the-high-seas-00045081

https://www.thehindu.com/business/explained-what-impact-will-the-g7s-60-price-cap-on-russian-oil-have-on-markets/article66218832.ece

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