It's much more than that in Europe, so they're desperate and willing to pay a higher price and import from the US. Those in the western hemisphere now need to compete with Europeans for the oil since US and Canadian companies are just gonna ship it over there and cash in.
Places that buy oil primarily from Russia will be severely affected, places that buy significant amounts from the US and other sources will be significantly affected, since those sources will backfill whatever Russia was providing.
It's much more than that in Europe, so they're desperate and willing to pay a higher price and import from the US. Those in the western hemisphere now need to compete with Europeans for the oil since US and Canadian companies are just gonna ship it over there and cash in.
“Those in the Western Hemisphere” like the global south?
Places that buy oil primarily from Russia will be severely affected, places that buy significant amounts from the US and other sources will be significantly affected, since those sources will backfill whatever Russia was providing.