The price of gas hasn't gone up as much as the market has in the past 7 days because oil companies determine their price based on their own internal inventories plus outside market forces (to determine the replacement cost). Pre-tax Gas was like $4 yesterday, when adding...See more

They are not giving up much given how hard it would be to convert Russian sales into $$$. And given how little the average Russian earns they probably can't pay much even in Rubles. Last week I saw a story that the 3 biggest cargo companies in the world refused to deliver to Russia. I wonder how much of this is based on the simple fact that the money paid for the goods will quickly be worth less than the goods they paid for.

Long term this is going to kill Russia more than any wars or economic sanctions. As they have everything in their economy based around fossil fuel exploitation and nothing to fall back on, these sorts of initiatives are going to hurt. And hurt bad long term.