The Biden Administration is looking for ways to oblige transnational companies trading in hydrocarbons to pay Russian gas and oil only in prices well below market level.
Once Russia is excluded from the World Trade Organization (WTO), we would be left with a dual market.
The first would be governed by the law of supply and demand. Its price, which is currently around $ 100 a barrel, will therefore fluctuate.
In the second market, to which Russia would be relegated, prices would be based on operating costs, i.e. around $40 per barrel in the case of Russian oil.