Oil price manipulation

[tzijlstra]

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What's hurting Russia is the boycott imposed by the US and the EU. Maybe Putin should wise up and keep his nose out of the Ukraine. It's no longer part of the greater Russian empire and should be respected as an independent sovereign state.

 

If fifty percent of Russian state income is directly linked to the oil price, as nu.nl claim, than a low oil price hurts them a hell of a lot more than stopping their dignitaries from travelling and accessing their overseas slush funds?

[geared]

Providing IS can find someone to buy the oil of course. If you do it's probable you condone their actions and I'm very much mistaken if the world players want to be seen as such.

 

ISIS smuggle the crude oil and trade it for cash and refined products, at a reduced price. They also have their own small and rudimentary refineries in Syria.

 

ISIS controls smuggling routes and the crude transported by tankers to Jordan via Anbar province, to Iran via Kurdistan, to Turkey via Mosul, to Syria's local market and to the Kurdistan region of Iraq, where most of it gets refined locally.

 

Turkey has turned a blind eye to this and may continue to do so until they come under pressure from the West to close down oil black markets in the country's south.

 

ISIS' oil will remain limited to these black markets, and the group will have no chance to establish a sophisticated pipeline network. Fixed distribution networks are complex, require investment and can become targets by the Iraqi Army and Kurdish Peshmerga.

 

http://edition.cnn.com/2014/08/18/business/al-khatteeb-isis-oil-iraq/

Edited January 19, 2015 by geared