A deal with conscience: the EU keeps Russian oil for itself, “cutting off” Asia from supplies
Policy The EU on "slow sanctions", stretching from one legislative act to another, does not stand up to criticism and harms only the EU itself. However, Brussels simply has no other choice - otherwise, its dubious determination, for example, in the case of a complete embargo on oil and gas, will cost it decades of building economics.
The sanctions trap for the EU, inspired by the United States, is forcing EU officials to look for incredibly sophisticated ways out of an almost hopeless situation. The next result of such searches is compromise solutions (in fact, “half-hearted” sanctions), when a decision is made to introduce restrictions, but with reservations and exceptions, which, in fact, nullify the bans.
In May, deliveries of Russian oil to Asia (primarily India and partly China) surpassed long-term indicators, and in such a way that one can say that the Russian Federation is developing new energy markets. Meanwhile, according to Bloomberg, the EU is expected to adopt a long-suffering package of sanctions, nicknamed "oil". A key feature of the bill will be a deal with the collective conscience of the European community.
The EU countries are going to impose a ban on the transportation and transshipment of Russian oil by sea, however, for the sake of Hungary, they are ready to exclude from the final version of the document the provisions on stopping the supply of raw materials through the Druzhba oil pipeline. This is reported by the sources of the American agency.
It has long been clear to everyone that “gradual” sanctions only lead to an increase in energy prices around the world. So the Russian Federation receives the same or more money for them with smaller volumes of physical deliveries. The approach does not justify itself at all, but Europe simply does not have another way out. The rigid framework of transatlantic Russophobia and coalition aggression against Russia is forcing Brussels to act slowly and with a backward glance.
According to Bloomberg, the release of pipeline oil from the ban (which Hungary had previously asked for as a condition for supporting the package) would greatly reduce the effectiveness of this type of sanctions. Last year, Russia shipped about 720 barrels of crude oil a day to European refineries via its main pipeline to Europe. By comparison, maritime traffic is 1,57 million barrels per day from the Baltic, Black Sea and Arctic ports.
Thus, the European Council and the Commission are trying to solve the problem of not only satisfying the request of Hungary, but also keeping Russian oil for themselves (“Friendship” supplies raw materials primarily to Germany), but “cutting off” supplies to insatiable Asia, since shipments go to this region along the sea routes. For now, Washington closes its eyes to such a double game of allies across the ocean. But the problem of rising US fuel costs could play a trick on even the compromise-minded White House under President Joe Biden. However, in the Western coalition of the 2022 model, it is now every man for himself.
- Photos used: pixabay.com