EU reaches deal on ban of Russian oil imports, Michel says

Irish Times ^ | 5/30/22 | Naomi O'Leary

[JonPreston]

The European Union has reached a deal to ban the import of Russian oil , EU council president Charles Michel said late on Tuesday. In a tweet, he said it would immediately covers more than two thirds of oil imports from Russia, “cutting a huge source of financing for its war machine”.

A proposed exception for oil delivered by pipeline earlier edged the EU towards finalising the deal to sanction Russia and squeeze its financial ability to wage war in Ukraine.

[JonPreston]

So here you have it; the Green New Deal brought to us by Demented Joe Biden and the moronic Biden Republicans who have been screaming, Russia! Russia! Russia! for 5 years.

[marron]

A proposed exception for oil delivered by pipeline

What?

[Stayingawayfromthedarkside]

Late on Tuesday? It’s not even late Tuesday in the Far East.

[elpadre]

that is one confusing statement. In the final analysis; are they going to ban Russian oil?? I don’t think so. Did they state any time line? I don’t think so.

[NavyShoe]

Why Russia can just bury themselves in debt to finance their war like we do.

[jimwatx]

Russia debt to GDP is 20%, US debt to GDP 130%+. They can finance it easily, it’s the bankrupt West that will have problems.

[jimwatx]

They are only banning 2/3’s of it.

[caww]

I don’t believe them - not even a little.

[BobL]

“A proposed exception for oil delivered by pipeline earlier edged the EU towards finalising the deal to sanction Russia and squeeze its financial ability to wage war in Ukraine.”

For those confused, I’ll translate:

Hungary (and a few other countries) will continue to receive their cheap, reliable, oil supply from Russia via pipelines. Meanwhile the rest of Europe will have to pay far more to now get their Russian oil via brokers who will make it look like it came from other countries.

[JonPreston]

That’s true, Bob.

[entropy12]

Russia debt to GDP is 20%, US debt to GDP 130%+. They can finance it easily, it’s the bankrupt West that will have problems.

And I thought only me keeps posting this fact. Glad to see someone else understands USA & Russia debts.

https://usdebtclock.org

[caww]

Let's have a look at this dweeby looking unelected character .....

some of these characters reveal they're self infatuation ....

[Dogbert41]

It’s ok. Pedo Joe says we’ll make up the difference, even if we have to pay $50 a gallon.

[CatHerd]

And not only that ...

https://www.statista.com/statistics/246420/major-foreign-holders-of-us-treasury-debt/

Now that Hong Kong is wholly-owned subsidiary of China, it should added to China’s piece of the pie.

[caww]

By year end? It’s May......The War would be over way before end of year.
And since Oil is a global market. Demand will always seek out supply and the rest of the world would just buy up the oil Europe gives up. The only ones who will suffer are in the EU.

[marron]

Exactly. They will say they are banning it while not banning it.

They waited until summer even to do this, when their imports would be at the lowest.

This was what Trump was warning about. NATO is meaningless if you are financing your supposed rival.

[kiryandil]

Hungary (and a few other countries) will continue to receive their cheap, reliable, oil supply from Russia via pipelines. Meanwhile the rest of Europe will have to pay far more to now get their Russian oil via brokers who will make it look like it came from other countries.

Stupid should hurt, and hurt real good.

[Cathi]

“For those confused, I’ll translate:

Hungary (and a few other countries) will continue to receive their cheap, reliable, oil supply from Russia via pipelines. Meanwhile the rest of Europe will have to pay far more to now get their Russian oil via brokers who will make it look like it came from other countries.”

---

Perfect translation, Bob...you must specialize in languages...:-) It is amazing how few people understand that this isn’t going to hurt Russia at all.

[BobL]

“Perfect translation, Bob.”

Thanks, but I do get help from non-Globalist sites.

[Basket_of_Deplorables]

China and India will buy every drop they can produce. Virtue signalling idiots there (and here) are intentionally crippling their own economies to please their WEF Masters.

Welcome to Wold Wide Central Planning!

“From each, according to his abilities. To each, according to their needs. With Central Planning Bureaucrats taking 50%, and living like little commie kings.”