Posted on 02/24/2024 5:59:01 AM PST by SpeedyInTexas
Imports include more than just energy products, and, in normal market pressure behaviors, fungible parts of trade "find their way" to where they are needed / wanted.
Some sources and quotes:
"The plan proposes a two-phase approach: Banning new gas contracts with Russian suppliers by the end of 2025 and phasing out all remaining imports by 2027. However, with fossil fuel flows still strong and intra-EU divisions widening, experts remain skeptical."Russian LNG imports rising — against the trend"
"The move comes amid a sharp uptick in Russian liquefied natural gas (LNG) imports into the EU. Although overall EU fossil fuel imports from Russia have fallen since the 2022 invasion of Ukraine, imports of Russian LNG and pipeline gas rose by 18% in 2024, according to the European statistics office Eurostat.
"The financial stakes are high: The EU spent €23 billion ($26 billion) on Russian fossil fuels in 2024, directly contributing to the Kremlin's war budget. The new roadmap is set to stop that.
"Pawel Czyzak, researcher at the UK-based energy think tank Ember, sees the EU Commission's latest plan as a push against a slowing political momentum towards Europe's independence from Russian oil and gas, which has been complicated since the beginning." more....
Source: Why the EU's push to cut Russian energy ties is so difficult
Deutsche Welle, 7 May 2025
"Since the beginning of the war, trade between the EU and Russia has drastically contracted due to EU sanctions and import restrictions on some products. Imports from Russia fell by 86% from the first quarter of 2022 through the first quarter of this year, according to the latest data from Eurostat.
"Imports of goods from Russia in the first quarter of 2025 totaled 8.74 billion euros ($10.11 billion), down from 30.58 billion euros four years earlier. Since January 2022, the EU has imported 297 billion euros' worth of Russian goods.
"The EU, however, continues to purchase oil, nickel, natural gas, fertilizer, iron and steel from Russia."
Source: Three years into war, US and Europe keep billions in trade with Russia Reuters, 8 August 2025.
"Russia's total Exports in 2021 were valued at US$492.31 Billion, according to the United Nations COMTRADE database on international trade. Russia's main export partners were: China, the Netherlands and Germany. The top three export commodities were: Mineral fuels, oils, distillation products; Commodities not specified according to kind and Pearls, precious stones, metals, coins. Total Imports were valued at US$293.50 Billion. In 2021, Russia had a trade surplus of US$198.82 Billion."
Source: Russia Exports By Country [ China at 14 percent; look at the surprise coming second at 8.6 percent, and third at 6.1 percent ]
The EU seems to be about 15 percent of the world's GDP, The US is estimated at about 26 percent. So together, less than half. There will be places to trade for any and all that want to trade, as the EU's past eighteen or nineteen sanctions sets seems to suggest.
We need be careful of deciding how we see trade and how we see using it wholly as a weapon, in a world wherein there are always alternatives escaping controls. Prices are always affected, meaning consumers are always affected. Consider:
"Which Countries Have Experienced the Steepest Rise in Energy Costs?"It is not just a matter of politics, but of individuals' and companies' wallets. How would you be doing with a 200 percent rise in your fuel bill?1. Estonia | Electricity: +323% | Gas: +559%
2. Netherlands | Electricity: +421% | Gas: +328%
3. Italy | Electricity: +211% | Gas: +329%
4. Austria | Electricity: +145% | Gas: +433%
5. Denmark | Electricity: +161% | Gas: +353%
European Energy Prices Increase up to 500% Compared to Pre-crisis Levels Green Match, 8 January 2025
The picture is far more complex than choosing a side for which to cheer, or a side to denigrate. "Supply and demand" is a real phenomenon washing over the entire world.
Or one can look at pictures of bombers, fighter jets and some analysis of maps and X and Telegram videos of destruction. Time perhaps for some new perspective?
“So yes, President Trump did do what he had threatened, and did it before the deadline. So far, it seems to be working, with Indian companies now substituting Russian oil supplies for other suppliers.”
My friend, no sanctions against India for buying RuZZian oil has gone into effect. Lets talk again at the end of the month. I’ll believe it when it happens...
“On Wednesday, Donald Trump doubled US tariffs on India to 50%, up from 25%, penalising Delhi for purchasing Russian oil - a move India called “unfair” and “unjustified”. The tariffs aim to cut Russia’s oil revenues and force Putin into a ceasefire. The new rate will come into effect in 21 days, so on 27 August.”
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