Wednesday, October 8, 2025

Latest

Europe Importing More Russian Oil Than Before Sanctions

The EU is importing more Russian oil than before western leaders imposed crippling (or what were meant to be crippling) sanctions on the post-Soviet economy in response to Vladimir Putin’s military conflict in Ukraine.

According to the Economist which cited data compiled by Argus Media, Russian oil shipments to the EU rose from 750,000 barrels per day to 857,000 barrels per day between January and April, marking a 1`4% increase. Evidently, the jump in output also comes at the same time that Brussels has been actively calling on leaders to completely halt all energy imports from Russia in an effort to further punish the Kremlin for its role in the Ukraine conflict.

Source: The Economist

The EU’s embargo on Russian oil imports currently only cover shipments of seaborne oil and petroleum products, which account for 75% of supplies from Russia. Exempt is crude supplied via pipelines to several countries in eastern and central Europe, prompting refineries in those regions to snap up “cheap Russian crude that most Western buyers are shunning.”

Germany is thus far the only country in the EU that has cut imports from Russia via the Druzhba pipeline since the beginning of the conflict in Ukraine. The pipeline is one of the largest and longest in the world, through which energy flows from the eastern part of Russia all the way to various refineries in Germany, Czech Republic, Hungary, Slovakia, and Poland.

Western leaders’ ban on Russian oil has created an arbitrage opportunity whereby imports have become cheaper to the international benchmark Brent and WTI, creating “little financial incentive for refiners to ditch Russian supply,” read the Economist report. The data showed that refineries receiving Russian oil through the Druzhba pipeline enjoyed discounts of up to $40 per barrel compared to North Sea oil in May.


Information for this briefing was found via The Economist. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

European Union to Finally Impose $4 Billion Worth of Tariffs on US Goods Over Boeing Aid Dispute

On Monday, the European Union announced it will impose up to $4 billion in tariffs...

Tuesday, November 10, 2020, 11:03:00 AM

EU Targets X For Social Media Law Breach, Elon Musk Deflects: “Other Social Media?”

The European Union has initiated formal infringement proceedings against social media company X over suspected...

Tuesday, December 19, 2023, 04:22:00 PM

Europe’s Energy Crisis: Germans May Face Winter Catastrophe if they Don’t Drastically Cut Gas Usage

Germany is bracing for a cold, hard winter ahead. The country may have to resort...

Monday, November 28, 2022, 03:07:00 PM

“Elon Musk Will Win The Presidential Election” And Other 2023 Predictions By Ex-Russian President

The Russian Security Council’s current deputy chair is predicting the Twitter chief will win the...

Monday, December 26, 2022, 09:48:11 PM

White House Targets Russia With Even More Sanctions

The US government has imposed sanctions on Russia-backed Wagner Group, a private military company spearheaded...

Wednesday, February 1, 2023, 06:18:00 AM