Posted on 06/06/2022 11:22:48 PM PDT by Mount Athos
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.
Russian oil will continue to flow into Europe via a pipeline through Hungary, and after lobbying from shipping interests in Greece, Malta and Cyprus, EU-registered boats and companies will be allowed to continue moving oil from Russian ports to non-EU countries.
That means EU companies can continue to profit from facilitating transfers of Russian oil to countries such as India and China, which have proved to be willing buyers for the crude oil that Europe no longer wants.
Because many companies have since shunned Russian crude, the minority of companies that are willing to continue shipping it are able to collect bumper fees. A large tanker departing Primorsk could collect $32,500 a day as of Friday, compared with less than $10,000 before the invasion, a shipping industry source said.
“Ordinary citizens in European countries have been paying more for Russian oil without actually punishing Russia – in fact, only increasing Russia’s revenues going towards the war, as the Russian ministry of finance has openly bragged,” she said.
“Since the invasion of Ukraine, European oil tankers haven’t just kept up their deadly trade in Russian oil: they’ve increased it."
As oil prices have risen sharply, the Kremlin has seen a huge boost to its finances, registering a record current-account surplus in April.
The Russian government is on track to receive an unprecedented $250bn inflow of cash this year.
(Excerpt) Read more at finance.yahoo.com ...
So shipping is functional again?
What's “deadly” about supplying oil to people who are desperate for it?
So it is all bull-shat! Create a crisis that does not exist, unless it allows us to charge you more for essential commodities! NWO crap manipulation going on here people! Wake up!
Russia’s oil profits fund deadly invasions of its neighbors.
Worse, the US is helping.
People want the reality of making money more than they want the fantasy of punishing Putin.
There is now “Latvian” blend of oil, which is exactly like the Russian Urals. If one is going to do a research he is going to find out that Latvia is a midget country lacking any oil.
Throttling energy supplies results in higher energy costs.
Higher energy costs hurt people.
Europeans.
Americans.
Gee…if we only knew of a country who had so much reserves in the ground and in her country to become a net exporter and also had the ability to choke off an enemies main artery of survival…..
Hmmmmmmmm. I’m drawing a blank!
It was only the US that had major shipping issues. Thank California for a lot of it.
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.”
Interesting
Russia’s oil profits fund deadly invasions of its neighbors.
—
It costs Russia $10-$20 a bbl to produce, they sell at spot minus 30%. So roughly speaking, spot at $100, means they sell at $70 for a tidy profit >$50 a bbl.
Well then....time to drill, frack and open coal and nuclear power plants at home....in other words, time to stop sacrificing to Gaia.
No? Not willing to do that?
Then time to STFU about buying Russian oil and gas because there simply isn’t enough energy to go around otherwise.
Choose one.
The Russians and Chinese are insuring ships themselves now. All they are doing is taking a big slice of business away from Lloyd’s of London. Congrats guys, you’ve managed to shoot yourselves in the foot yet again.
“Choose one”.
I choose Trump...
"I say, Klaus... you, George, the Obamites and that odd little Zelinskiyy fellow said it would be the expendable drones who would own nothing and be happy, not us. Bad show, old chap, bad show!"
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