No idea. I can see not up voting it. I think it’s a bit of a non-story. Country looks to maybe join a group containing it’s some of it large trading partners. This group might or might not do something on the future. Only interesting bit is it’s the BRICS.
But a down vote just feels unnecessary. The story is factual. The source is fine. It might be relevant to someone.
That’s not what economists are usually talking about with discounts in this context. When talking about oil, or any commodity discount, it typically means against a baseline product. For oil you compare to the price of Brent. Think of it as the price difference between buying generic vs name brand at a grocery store.
There’s no details on the actual trade in the articlebut comparing Urals vs Brent shows it’s still trading at a roughly 20% discount today vs the ~2% discount preconflict.
I actually think the article titled misses the bigger part of the story.
I would expect increased trade between the three countries of this becomes the norm.