European shipping firms ‘making a mockery’ of Russia sanctions as oil cargos double

YAHOO Finance ^ | 6/5/22 | Ben Chapman

[JonPreston]

European companies have almost doubled their shipments of Russian oil since the start of Vladimir Putin’s invasion of Ukraine, despite desperate efforts by EU leaders to squeeze the Kremlin war machine by blocking Russia’s exports from global markets.

Campaigners said EU-based shipping firms had made a “mockery” of plans to sanction Russia, and warned that a partial oil embargo announced this week would do little to hurt Mr Putin or shorten the war.

In February, when Mr Putin’s troops invaded Ukraine, companies and vessels linked to the three countries shifted 31 million barrels of Russian oil. In May, that figure had jumped to 58 million barrels.

[BiglyCommentary]

I can tell by the way you phrase things that currencies and trading them is something you just read about, but haven't done much of.

"out of the ruble falling back from the highs it had recently made."
"to lower the ruble which had been soaring "
"they could not get the ruble as low as they desired."
"If and when that happens the ruble will likely decline again."

Anyone who had done serious currency trading would not phrase things like that.

"highs", "higher" or "low", "lower" meanings depend on the paring - USD-RUB, or RUB-USD

Terms "strengthen" or "weaken" are pairing neutral. "going lower" or going higher" is meaningless unless the pairing is referenced.

"going lower" is the ruble getting stronger when the pair is USD-RUB

"going higher" is it ruble getting stronger when the pair is RUB-USD.

[BiglyCommentary]

A lot of these alternative shippers are getting shutdown.

June 1st - “The U.K. and EU have agreed a coordinated ban on insuring ships carrying Russian oil, shutting Moscow out of the vital Lloyd’s of London insurance market and sharply curbing its ability to export crude, according to British and European officials.”

[cuban leaf]

I’m under the impression that Russia has won the war, mainly because the west seems to be in “finger pointing”, trying to place blame for losing.

A sample of the stuff I’m getting: https://www.youtube.com/watch?v=eW96CGedmVQ