He has identified a small group of 8 Chinese, Indian and Turkish refineries that have refined $ 400 billion of Russian oil since the start of the Ukranian war. According to Browder if these refineries were put on a no trade list, the effect would be dramatic. This wouldn’t be a sanction on the whole country, just these refineries. He suggests the refineries would likely choose the West and while the Russian crude would still get sold, not to the current best customers and at less than half the current price.
Perhaps it would work, perhaps only in part with China hanging tough….but it does show how vulnerable an economy reliant on one commodity really is. Suggesting this war goes on because Putin doesn’t want it to stop and because the world has not been serious about making him pay,