Germany reduced its need for Russian oil by 99.9 percent.
The EU oil embargo on Russian oil allowed Germany to completely abandon its supply in the Russian Federation. This was reported by Tagesschau on 13 March, citing data from the Federal Statistical Office.
In January of this year, Germany bought 3,500 tons of Russian oil. In January 2022, imports were still at 2.8 million tons. Imports from the Asian country have actually stopped.
“Arithmetically, it’s down 99.9%,” the department said.
Russia’s share in the total volume of oil imports to Germany has dropped from 36.5% in January 2022 to just 0.1% now. This level indicates negative dynamics for the Russian Federation and beyond.
The German authorities have already confirmed the ability of the country’s economy to meet its needs without Russian resources. In January, the head of Germany’s finance ministry, Christian Lindner, said the country is no longer dependent on Russia’s energy imports.
Russian authorities are trying to justify the decrease in oil exports to the countries of the European Union. In February, Russian Deputy Prime Minister Alexander Novak noted that in March, Russian companies will reduce oil production by 500,000 barrels per day, or about 5%.
By the end of 2022, oil production in Russia reached 535 million tons. This level corresponds to approximately 10.74 million barrels per day. Commenting on the Kremlin’s weak activity in the oil market in the US presidential administration, he explained that the decline was due to Russia’s inability to sell all of the oil it produced.
Previously Focus reported that the sanctions effectively blocked Russia’s access to the European energy market. The Russian Federation is trying to sell its resources to Arab states that are dissatisfied with the US pressure to isolate Russia in the market. The Kremlin continues to intensify its attempts to find alternative methods of realizing resources.
Source: Focus
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