FT: Russia dodges G7 price cap sanctions on most of its oil exports
The European Union, G7 countries and Australia introduced a price cap of US$60 a barrel on Russian oil in last December, aiming to curb Russia’s ability to finance the conflict in Ukraine. — Reuters pic
Monday, 25 Sep 2023 7:55 AM MYT
MOSCOW, Sept 25 — Russian crude oil supplies increased 50 per cent this spring despite the G7 countries imposing sanctions due to war in Ukraine, the Financial Times reported yesterday citing data from analytics company Kpler.
The European Union, G7 countries and Australia introduced a price cap of US$60 a barrel on Russian oil in last December, aiming to curb Russia’s ability to finance the conflict in Ukraine.
However, Russian oil revenues are likely to increase due to constant increases in crude prices and a reduction in the discount on its own oil, the FT report said, citing Kyiv School of Economics (KSE) estimates.
Almost three-quarters of all the seaborne Russian crude flows travelled without western insurance in August, according to an analysis of shipping and insurance records by the Financial Times.
Russia cut its seaborne diesel and gasoil exports by nearly 30 per cent to about 1.7 million metric tonnes in the first 20 days of September from the same time in August. Russia’s temporary ban on exports of gasoline and diesel to most countries, announced last week, was expected to further tighten supplies. — Reuters
Monday, 25 Sep 2023 7:55 AM MYT
MOSCOW, Sept 25 — Russian crude oil supplies increased 50 per cent this spring despite the G7 countries imposing sanctions due to war in Ukraine, the Financial Times reported yesterday citing data from analytics company Kpler.
The European Union, G7 countries and Australia introduced a price cap of US$60 a barrel on Russian oil in last December, aiming to curb Russia’s ability to finance the conflict in Ukraine.
However, Russian oil revenues are likely to increase due to constant increases in crude prices and a reduction in the discount on its own oil, the FT report said, citing Kyiv School of Economics (KSE) estimates.
Almost three-quarters of all the seaborne Russian crude flows travelled without western insurance in August, according to an analysis of shipping and insurance records by the Financial Times.
Russia cut its seaborne diesel and gasoil exports by nearly 30 per cent to about 1.7 million metric tonnes in the first 20 days of September from the same time in August. Russia’s temporary ban on exports of gasoline and diesel to most countries, announced last week, was expected to further tighten supplies. — Reuters
This article is for people who only scratch the surface without understanding, or for Russia-lovers hungry for any "good news" for Ruzzia wankers.
ReplyDeleteFact is Ruzzia is caught in a trap of shipping more oil than ever in Volume, but earning less and less Revenue, as Buyers exact a steep discount for Buying sanctioned oil and gas. It's virtually a Black Market rate.
In the Real world, you can sell almost anything if the price is low enough , to make it worthwhile for the Buyer.
Mfer, when u farting about - people who only scratch the surface without understanding - have u look at yr mirror reflection?
DeleteEven a cracked mirror would still form a f*cked face via all those fissures.
Know nothing mfer, can u explain how Russia can have a growing GDP during his Ukraine special military operation vis-a-vis
"a trap of shipping more oil than ever in Volume, but earning less and less Revenue" fart?
Germany saw its GDP slipping to sixth place behind Russia in 2022 as a result of the war
Delete