{"id":9380,"date":"2022-11-24T18:14:26","date_gmt":"2022-11-24T18:14:26","guid":{"rendered":"http:\/\/lonecandle.com\/?p=9380"},"modified":"2022-11-24T18:14:26","modified_gmt":"2022-11-24T18:14:26","slug":"despite-sanctions-russian-fuel-is-still-selling-heres-whos-buying","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=9380","title":{"rendered":"Despite sanctions, Russian fuel is still selling \u2014 here\u2019s who\u2019s buying"},"content":{"rendered":"\n

\n\n“Petroleum shipments are still relatively stable for Russia, as nations like China and India have picked up some slack from EU countries weaning themselves off oil, and Russia still has LNG, coal, and nuclear energy to help the economy float, too.
In order to make petroleum products more appealing to customers like India and Indonesia, Russia has offered fairly steep discounts \u2014 an average of $30 per barrel \u2014 against Brent crude oil, which has also been a benefit for Sri Lanka, Pakistan, Bangladesh, and Cuba, all emerging economies struggling with inflation, as Business Insider<\/a> reported. Although according to S&P the discounts on Russian crude oil are decreasing, some analysts believe they\u2019ll persist, making Russian crude oil imports highly palatable for poorer countries.”
…
“Countries like China, India, and Turkey are proving eager partners for the Russian fuel industry, with Turkey doubling Russian oil imports this year<\/a> and vying to become a hub for Russian LNG transfers into Europe<\/a> after damage to the Nord Stream pipelines.”  
…
“Even with the Nord Stream 1 pipeline out of commission \u2014 and setting aside the transfers to China, now Russia\u2019s biggest natural gas buyer \u2014 European countries are importing record amounts of Russian LNG at market prices, according to Bloomberg<\/a>. France has purchased about 6 percent more Russian LNG between January and September of this year than it did all of last year; Spain has already broken its record for Russian LNG imports this year, and Belgium is on track to do the same.
The stakes for natural gas imports are somewhat different than they are for Russian petroleum, in a number of different ways; for one, the EU hasn\u2019t imposed sanctions against it as it has against petroleum products, though the bloc does intend to eliminate its reliance on Russian fossil fuels by 2027. Second, Russia has already used Europe\u2018s reliance on its natural gas as a weapon; Russia cut access to many European countries which refused to pay for LNG in rubles, and cut total output to Europe by 60 percent in June and by 80 percent in July, Reuters reported last month.<\/a>”   
…
“Russia continues to invest heavily in its nuclear technology, and nuclear facilities in many nations <\/a>are dependent on Russian technology and cooperation to function, even if they\u2019re not directly importing Russian nuclear fuel, according to a report by Robert Ichord for the Atlantic Council<\/a>.”   
…
“Russia has several illicit strategies to evade western sanctions on its energy products and financial system. Because these transactions are, by their nature, often difficult to track, it\u2019s hard to know how effective and how widespread they are \u2014 not to mention how much the Russian economy is benefiting from them.”<\/p>\n\n\n\n

https:\/\/www.vox.com\/2022\/10\/16\/23407003\/sanctions-russian-fuel-china-india-natural-gas-ukraine<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

“Petroleum shipments are still relatively stable for Russia, as nations like China and India have picked up some slack from EU countries weaning themselves off oil, and Russia still has LNG, coal, and nuclear energy to help the economy float, too.<\/p>\n

In order to make petroleum products more appealing to customers like India and Indonesia, Russia has offered fairly steep discounts \u2014 an average of $30 per barrel \u2014 against Brent crude oil, which has also been a benefit for Sri Lanka, Pakistan, Bangladesh, and Cuba, all emerging economies struggling with inflation, as Business Insider reported. Although according to S&P the discounts on Russian crude oil are decreasing, some analysts believe they\u2019ll persist, making Russian crude oil imports highly palatable for poorer countries.”<\/p>\n

…<\/p>\n

“Countries like China, India, and Turkey are proving eager partners for the Russian fuel industry, with Turkey doubling Russian oil imports this year and vying to become a hub for Russian LNG transfers into Europe after damage to the Nord Stream pipelines.” <\/p>\n

…<\/p>\n

“Even with the Nord Stream 1 pipeline out of commission \u2014 and setting aside the transfers to China, now Russia\u2019s biggest natural gas buyer \u2014 European countries are importing record amounts of Russian LNG at market prices, according to Bloomberg. France has purchased about 6 percent more Russian LNG between January and September of this year than it did all of last year; Spain has already broken its record for Russian LNG imports this year, and Belgium is on track to do the same.<\/p>\n

The stakes for natural gas imports are somewhat different than they are for Russian petroleum, in a number of different ways; for one, the EU hasn\u2019t imposed sanctions against it as it has against petroleum products, though the bloc does intend to eliminate its reliance on Russian fossil fuels by 2027. Second, Russia has already used Europe\u2018s reliance on its natural gas as a weapon; Russia cut access to many European countries which refused to pay for LNG in rubles, and cut total output to Europe by 60 percent in June and by 80 percent in July, Reuters reported last month.” <\/p>\n

…<\/p>\n

“Russia continues to invest heavily in its nuclear technology, and nuclear facilities in many nations are dependent on Russian technology and cooperation to function, even if they\u2019re not directly importing Russian nuclear fuel, according to a report by Robert Ichord for the Atlantic Council.” <\/p>\n

…<\/p>\n

“Russia has several illicit strategies to evade western sanctions on its energy products and financial system. Because these transactions are, by their nature, often difficult to track, it\u2019s hard to know how effective and how widespread they are \u2014 not to mention how much the Russian economy is benefiting from them.”<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[89,217,165,1218,83,314,576,1265,315,1001,226,418],"class_list":["post-9380","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-china","tag-economics","tag-economy","tag-gas","tag-india","tag-international-relations","tag-oil","tag-oil-and-gas","tag-russia","tag-sanctions","tag-trade","tag-turkey"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/9380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9380"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/9380\/revisions"}],"predecessor-version":[{"id":9381,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/9380\/revisions\/9381"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}