The EU will partially replace Russian oil by increasing its purchases in other countries, primarily in the USA and the Middle East.
Russia’s sweeping attack on Ukraine forced Europe to step up its plan to say goodbye to Russian oil. In other words, according to the results of 2022, European Union countries reduced the supply of “black gold” from the Russian Federation by 90%. EU Ambassador to Ukraine Matti Maasikas stated this in an interview with Ukrinform.
The diplomat stressed that during the war, the European Union brought nine sanctions packages to Moscow. In this way, the EU has reduced its dependence on Russian energy resources.
“We radically reduced our dependence on Russia in energy, because one of the main EU sanctions was to stop 90 percent of Russia’s oil supplies to Europe by the end of 2022, and then deprive Moscow of relevant revenue,” Maasikas said. said.
He also reminded that the Kremlin can sell oil to other countries, but at a lower cost.
“Revenues from such sales are limited by the fact that Russia has to do this at a significant discount per barrel – Russian oil is sold about $30 less than the world average,” said the diplomat.
The EU will partially replace Russian oil by increasing its purchases in other countries, primarily in the USA and the Middle East.
On December 30, 2022, it was learned that the Kremlin leader Vladimir Putin allowed the natural gas buyers on the “unfriendly” list to pay their debts in foreign currency and partially abolished the obligation to pay only in rubles. In March 2022, when the Russian president signed a decree on the full transition to ruble payments for Russian pipeline gas, gas giant Gazprom suspended fuel supplies to customers in Poland, Bulgaria, Finland, the Netherlands and Denmark, as well as deliveries to Germany. under a contract with “Shell Energy Europe” after companies refused to comply with the order.
We also remember that gas prices fell to a minimum in Europe for the first time since the occupation of Ukraine on 28 December. On February 22, two days before the start of a full-scale war, gas in the TTF was trading at 79.9 euros per megawatt hour, but on February 24, prices “pumped” to 128 euros.
Source: Focus
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