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Germany to ban Russian oil imports by end of year
BBC ^ | 20 April 2022 | Reuters

Posted on 04/20/2022 1:33:06 PM PDT by BeauBo

Germany has said it will halt imports of Russian oil by the end of this year.

"We will halve oil by the summer and will be at zero by the end of the year, and then gas will follow," said German foreign minister Annalena Baerbock.

Germany currently buys a quarter of its oil and 40% of its gas from Russia...

About 60% of Russia's oil exports go to Europe, and another 20% go to China.

(Excerpt) Read more at bbc.com ...


TOPICS: Business/Economy; Foreign Affairs; Germany; Russia
KEYWORDS: 180abarreloil; gas; germany; naturalgas; ruble; rubleisat81; rubles; russia; ukraine
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Italy has been much quicker than Germany, to substitute other suppliers for Russian natural gas.

Russia is losing market share at a rapid rate, for their core exports.

Even if the war were to end tomorrow, it would be difficult to lure back customers, investors and talent.

They have likely squandered a generation's worth of the rise in the Russian standard of living, on Putin's Ukrainian adventure.

1 posted on 04/20/2022 1:33:06 PM PDT by BeauBo
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To: BeauBo

Why wait ???

Why not now ???


2 posted on 04/20/2022 1:34:24 PM PDT by Tennessee Nana
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To: Tennessee Nana

Because: Free Beer Tomorrow.


3 posted on 04/20/2022 1:35:00 PM PDT by Fido969 (45 is Superman!)
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To: BeauBo

Related...

https://freerepublic.com/focus/f-news/4056525/posts


4 posted on 04/20/2022 1:36:00 PM PDT by ButThreeLeftsDo (The best things in life aren't things.)
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To: Tennessee Nana

Because they need it. Also, they’re lying.
They’re hoping everyone forgets later on.


5 posted on 04/20/2022 1:36:57 PM PDT by EEGator
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To: EEGator

Bttt


6 posted on 04/20/2022 1:37:30 PM PDT by Track9 (You are far too inquisitive not to be seduced…)
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To: Tennessee Nana

Trump warned them and he was right again.


7 posted on 04/20/2022 1:37:50 PM PDT by gibsonguy
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To: BeauBo

I assume no apologies to President Trump for warning them about their dangerous dependence on Russian petroleum products not long ago will be forthcoming.


8 posted on 04/20/2022 1:39:42 PM PDT by SpaceBar
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To: Tennessee Nana; BeauBo
Economics is a cruel mistress.

If Pootie wanted to blow up Germany tomorrow, for the next several years, he'd shut the natgas valves.

There is no replacement.

And this oil move may force oil to over 180 bucks a barrel.

World-wide.

Which means your gas tank and my gas tank.

Ever punch yourself in the face to see how much it hurt?

9 posted on 04/20/2022 1:40:19 PM PDT by kiryandil (China Joe and Paycheck Hunter - the Chink in America's defenses)
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To: BeauBo

Yup, December 31st is a good date to freeze your people.


10 posted on 04/20/2022 1:43:30 PM PDT by George from New England
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To: BeauBo

I guess the offer of one free “We Destroyed Ukraine 2022” waterproof, fade resistant 3” x 10” glossy vinyl sticker with the purchase of each barrel of oil will make the deal worthwhile?


11 posted on 04/20/2022 1:44:54 PM PDT by RouxStir (No Peein' in the Gene Pool)
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To: George from New England

WWI and WWII killed all the strong men in Europe.


12 posted on 04/20/2022 1:45:03 PM PDT by EEGator
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To: BeauBo

LOL, they are hoping it will be over then. Come the end of the year, and war is still raging. Well, maybe the end of the next year then, 2023. đŸ˜‹


13 posted on 04/20/2022 1:46:35 PM PDT by Robert DeLong
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To: Tennessee Nana

Because if they cut off Russian petroleum products right now, some of their people freeze and their industry/economy grinds to a halt. They are *not* setup for alternate sourcing and are desperately trying to change that. They laughed at Trump when he told them to do this, too.


14 posted on 04/20/2022 2:01:08 PM PDT by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: BeauBo

So they’re going to do what Trump told them they needed to do 3-4 years ago, and caught all kinds of crap from our Left and the Euros for?


15 posted on 04/20/2022 2:15:29 PM PDT by FreedomPoster (Islam delenda est)
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To: EEGator

Yup.

Wait until the Russkies decide Indian and Chinese sales will do just fine, and since they don’t need $$$$ for sex change operations for their kids, they won’t mind a few less barrels sold.

Love how they also forget about Turkey - 50+% inflation, nearly 100% energy dependent on Russia. Aren’t they kinda’ hot headed when gas and bread quadruple in price?


16 posted on 04/20/2022 2:36:23 PM PDT by TonyinLA ( I don't have sufficient information to make an informed opinion said no lefty ever.)
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To: BeauBo
"Germany to ban Russian oil imports by end of year"

LOL!! They're dragging their feet hoping this will all go away.

Frankly, I find it pretty funny, that the country that invaded Russia in WWII to take over their oil fields, have, since WWII ended, been completely dependent on Russia for their oil.

17 posted on 04/20/2022 2:43:40 PM PDT by mass55th ("Courage is being scared to death, but saddling up anyway." ~~ John Wayne )
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To: All

Numbers

German oil consumption 2021 (up from the global reduction in 2020) was 2.2 million barrels/day

If 40% of that was Russia, about 900K bpd and since it’s 2022 with growth over 2021, let’s uptick that to an even 1 mbpd expected.

They get the rest from Norway and other North Sea production. Norway upticked last year in oil production to 2 mbpd, but had been declining relentlessly since 2001 when it was over 3 mbpd. The decline will likely resume. This is the fundamental problem of Europe. The only viable oil source is the North Sea. It’s been producing since the 1990s and it is simply running out.

MOST, repeat, MOST oil fields in the entire world are in decline. Where Germany expects to go to replace Russian oil is certainly a puzzle.


18 posted on 04/20/2022 2:49:01 PM PDT by Owen
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To: mass55th

You are correct. The Battle of Stalingrad was about oil. It is the chokepoint of the Volga River and all the oil around the Caspian flowed to Moscow on it.

The Nazis were fueled with oil from Romania, now largely empty.

Stalingrad is now called Volgograd. It is less than 100 miles from the east border of Donbas. There was never any way NATO could be allowed that close.

About 4 mbpd flows on and along that river out of Caspian sources. One of which is Iran’s north coast. They ship north across the sea to Russia, blend, sell and collect cash around sanctions that would prevent Persian Gulf flow.

Might have been part of the intent of NATO in Ukraine.

IN ALL MATTERS GEOPOLITICAL, VIEW THEM THROUGH THE PRISM OF OIL. NOTHING ELSE COMPELS.


19 posted on 04/20/2022 2:53:39 PM PDT by Owen
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To: BeauBo

The BBC should know that syphilis is a serious disease and immediate treatment is required before the brain melts into a puddle of mumbling goo.


20 posted on 04/20/2022 2:56:15 PM PDT by sergeantdave
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