Two weeks before the entry into force of sanctions against Russian oil, the supply of hydrocarbons from Russia to the European Union collapsed to a new low. The Bloomberg agency, which monitors the volume of oil supplies from Russia, claims that Moscow has lost 90% of its market share in the Nordic countries, the main consumers of hydrocarbons in the EU. Deliveries have dropped to 95,000 barrels per day (compared to 1.2 million barrels per day that Russia exported before the war), and they go only to the Netherlands.
The aggregate level of oil exports from Russia also fell to a new anti-record and, according to the agency, is 2.67 million barrels per day, which is the lowest level in more than two months. The main buyers of Russian oil were the three "friendly countries" – China, India and Turkey, together they account for 2.45 million barrels of oil per day, or 91.7% of exports.
Rossi's revenues from oil exports are also on the decline and update the lows since the beginning of the year. During the week from November 11 to 18, oil exports brought Russia only $109 million, and the average value for the last month dropped to $127 million. set in November at $5.83 per barrel. In December, the duty rate will rise slightly and amount to $5.91 per barrel, the average discount for Russian Urals oil in relation to Brent is about $25.5. The price of Brent on Tuesday, November 22, was trading at $88.36 per barrel.
Most European countries, on the eve of the sanctions, have already effectively refused to supply Russian oil, the principal exception is Bulgaria, which, however, received some indulgences from the European Commission and will be able to continue buying Russian oil after the oil embargo is imposed on December 5. On the same date, it is planned to introduce a mechanism for limiting prices for Russian oil, according to which countries that have joined the mechanism will be prohibited from buying Russian oil at prices above the established ceiling, as well as from providing related services (transport, financial, insurance, and others). Russia has repeatedly stated that it will not supply oil to those countries that will join the mechanism.
However, even in the current rules of the countries of the "collective West" there are inaccuracies in the wording of laws that allow you to receive Russian oil, despite the declared refusal. Thus, the British media recently revealed a scheme by which Russian oil continues to flow to the UK, although local authorities claimed that they had reduced supplies to zero in the summer.
