• Home
  • All news
  • Russia
  • Ukraine
  • World
  • Tags
    • Navalny
    • Arrests and Attacks
    • Court
    • Kazakhstan
    • Coronavirus
    • Election 2021
    • Almaty
    • Putin
    • USA
    • Murders
    • Death
    • Rape
    • Germany
  • Special Projects
    • Stories
    • One year after
Thursday, May 9, 2024
  • Login
Russian Free Press
  • Home
  • All news
  • Russia
  • Ukraine
  • World
  • Tags
    • Navalny
    • Arrests and Attacks
    • Court
    • Kazakhstan
    • Coronavirus
    • Election 2021
    • Almaty
    • Putin
    • USA
    • Murders
    • Death
    • Rape
    • Germany
  • Special Projects
    • Stories
    • One year after
No Result
View All Result
  • Home
  • All news
  • Russia
  • Ukraine
  • World
  • Tags
    • Navalny
    • Arrests and Attacks
    • Court
    • Kazakhstan
    • Coronavirus
    • Election 2021
    • Almaty
    • Putin
    • USA
    • Murders
    • Death
    • Rape
    • Germany
  • Special Projects
    • Stories
    • One year after
No Result
View All Result
Russian Free Press
No Result
View All Result

WSJ: European companies helped Russia sell a record amount of oil

July 18, 2022
in Daily News
Share on FacebookShare on Twitter

European companies helped Russia sell a record amount of oil abroad even against the backdrop of all the sanctions and the announced oil embargo: Greek companies have sharply increased the volume of supplies of Russian energy resources to third countries outside the EU. The largest market now served by European vessels is China. This is written by The Wall Street Journal with reference to market participants.

The publication cites data from the analytical agency Vortexa: since the beginning of the war, the volume of oil supplies from Russia to India has grown from near zero to a million barrels per day, and exports to China – from 670,000 barrels in February to 1.13 million barrels in June. According to Vortexa, export data show that Russia has succeeded in redirecting oil flows from the West to the East, albeit with the proviso that for this it had to offer huge discounts on products, up to $40 per barrel.

The main beneficiary of the situation in the oil market has become the Greek shipping companies, which account for about a third of the entire merchant fleet of the planet. The publication claims that after the introduction of the sixth package of sanctions, which included the gradual abandonment of Russian oil, the Greek fleet almost doubled the volume of oil shipments from Russia to third countries. According to Lloyd's List Intelligence, in May-June of this year, Greek ships accounted for up to half of all deliveries of Russian oil, and the number of ships under the Greek flag has increased from 89 last year to 151 this year. The publication notes that the Greek ships were seen even in the northern ports, which are traditionally used by Russian and Chinese shipping companies.

European shipping volumes have skyrocketed amid the oil embargo coming into effect on Dec. 5, and transport companies are looking to cash in on the hot shipping market, expecting volumes to drop once the embargo is in place. Against this background, the cost of chartering an Aframax medium-sized vessel has quadrupled – from $10,000 to $40,000 per day; at the same time, companies fear that since the beginning of the embargo, demand for transportation may fall sharply, since the sixth package of sanctions involves a ban on insurance for oil tanker shipments from Russia. However, analysts predict that tankers will not be idle for a long time, as the demand for oil is still at a high level and transport will simply be redirected to other directions.

The absence of a ban on the transportation of Russian oil in the sixth EU sanctions package was criticized by hardliners on Russia, as well as representatives of Ukraine. They believe that in this way the imposition of sanctions against oil is meaningless, because Russia continues to receive super profits from the sale of energy resources. Against this background, the G8 countries are trying to promote the idea of ​​introducing marginal oil prices, which will be implemented through ship insurance mechanisms. At the moment, the ship insurance market is almost completely controlled by American, British and European companies. US Treasury Secretary Janet Yellen previously explained that even countries that have not formally joined the marginal oil price mechanism will nevertheless be forced to buy oil within its framework, since under other conditions Western insurers will simply be banned from working. At the same time, Yellen is sure that the mechanism promoted by the G7 is beneficial for all countries that buy Russian oil, because they will be able to buy it even cheaper than now .

Read also

Bach and Margaritis support politicisation of sport in prank video call

April 16, 2024

In a world of disruption, the Olympics confronts the World Friendship Games

March 16, 2024

Clothing brand East&West hosts Spring celebration in Dubai on March 8

March 15, 2024

The champion of the Games of the Future will become the first master of sports in programming

March 1, 2024

Hochland Contemplates Patriotism Through Cheese for Russian Troops?

February 2, 2024

. BRICS+ Fashion Summit : Russian brands managed to conclude deals with buyers worth 250 million rubles

December 19, 2023

RECOMMENDED NEWS

<strong>“The regime wanted me to be afraid of…</strong>

1 year ago

The owner of the Ukrainian brand “Khortytsya” was included in the list of “terrorists and extremists”

10 months ago

40 people died in a plane crash in Nepal. There were Russians on board

1 year ago

The large family that died in a fire…

1 year ago

Newsletter

Be the first to get the news in the Telegram newsletter!

Newsletter

Be the first to get the news in the Telegram newsletter!


Прекратить репрессии против людей которые высказывают свое мнение

Archives

  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • March 2021
  • February 2021
  • December 2020
  • November 2020

Categories

  • ! Без рубрики
  • AI Chatbots
  • asian mail brides
  • asian mail order bride
  • best dating sites
  • blog
  • Daily News
  • dating ukrainian women
  • Fast News
  • kosmos
  • latin mail order brides
  • Live
  • mail brides
  • mail order bride
  • On the map
  • One year after
  • Russia
  • russian mail order bride
  • Stories
  • thai women dating
  • top dating sites
  • Ukraine
  • Uncategorized
  • women for marriage
  • World
  • Весільний салон Київ
  • Весільні сукні київ
  • Весільні та Вечірні Сукні
  • Вечерние и выпускные платья в Киеве 2023 года
  • Вечірні сукні
  • Свадебные платья в Киеве
  • Яку весільну сукню купити для цивільного весілля?
  • About
  • Contact
  • Privacy
  • Cookie
  • Terms
  • Donate
  • Advertise
  • Sitemap
[email protected]

© 2022 Russian Free Press - Honest news about Russia and the whole world.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • All news
  • Russia
  • Ukraine
  • World
  • Tags
    • Navalny
    • Arrests and Attacks
    • Court
    • Kazakhstan
    • Coronavirus
    • Election 2021
    • Almaty
    • Putin
    • USA
    • Murders
    • Death
    • Rape
    • Germany
  • Special Projects
    • Stories
    • One year after

© 2022 Russian Free Press - Honest news about Russia and the whole world.