Russian oil exports to Europe decreased by 90 percent
Lithuania, France and countries like Germany Russia they stopped the import of oil a few months ago. Poland joined these countries in September
Russia north of it, two weeks before the sanctions imposed on its oil come into force Europe compared to February, the export to their countries decreased by 90 percent from 1 million barrels to 95 thousand barrels per day.
According to Bloomberg Europe excluding the direction of the Mediterranean and Black Seas, currently only the port of Rotterdam Russia accepts oil.
Lithuania, France and countries like Germany stopped importing Russian oil a few months ago. Poland joined these countries in September.
Currently, three-quarters of the oil loaded in the ports of the Baltic Sea is sent in the direction of Asia.
India buys Russian oil taking advantage of the grace period situation.
Before that USA and Britain they stated that sanctions will not be applied to oil loaded into tankers until December 5. But this cargo should be delivered to the address no later than January 19.
Demon, Turkey and exports to India hit record highs
According to the calculations of the Bloomberg agency, total oil exports from Russia fell to 2.57 million barrels per day.
It is also noted that Russia’s oil revenues have fallen to their lowest level since the beginning of January.
At the same time, the export of Russian oil to China, India and Turkey reached a record level – 2.45 million barrels per day.
In October, Russia became India’s largest oil supplier. Russia’s export to this country has increased to 1 million barrels per day.
Reuters agency in early November news said that Indian refineries have not yet placed an order for the import of Russian oil.
Factories are waiting for “clarification” of the mechanism of the price restriction to be imposed on Russian oil.
After December 5th
Europe According to the 8th package of EU sanctions against Russia, on December 5, by sea from Russia to the European Union, USAan embargo on oil shipped to Canada and Japan will come into effect.
In accordance with the sanctions, as well as if the price of Russian oil is above the specified limit, it will not be possible to unload or insure this cargo at the ports of other countries.
The upper price limit for Russian oil has not yet been determined, but according to some information, it is 63-64 per barrel dollars is expected to be around
The purpose of this mechanism is to reduce the oil revenues of Russia, which is waging an unjustified and unprovoked war against Ukraine.
The Kremlin has already declared that it will not sell oil to it at unprofitable prices and will reduce production if necessary.