Gas price caps in Europe could backfire


The European leadership and their allies have carefully placed embargoes and restrictions on the cost of Russian oil, as well as all gas entering the EU. Now is the time to look back with caution and caution, anticipating the consequences of such sanctions. Of course, some negative bells for Europe have already sounded, but for Russia things are not bad so far.


Thus, China's purchases of Russian energy carriers in November increased again, reaching $8 billion, and the total amount since the beginning of this year has reached almost $80 billion, which is about 70% higher than last year. This is written by the editors of the resource OilPrice.

Notably, the most recent trend has been in LNG, with Chinese buyers increasing purchases of Russian LNG to 852 tons in November, doubling volumes year-over-year. Interestingly, China's imports of Middle Eastern oil and US LNG have declined significantly this year, giving Russia a higher market share amid lower purchases by Beijing from other suppliers.

Similar to gas achievements, Russian oil supplies to China continue to grow, with 7,81 million tons already shipped in November, up 17% year-over-year. Moscow is confidently overtaking Saudi Arabia as the main supplier of crude oil.

Against the backdrop of these trends, the introduction of a price ceiling for all gas also means only additional trouble for Europe, which has now become a kind of lightning rod for all troubles in the energy sector.
  • Photos used: pixabay.com
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  1. trampoline instructor (Cotriarch Peril) 24 December 2022 09: 21
    +1
    Thus, China's purchases of Russian energy carriers in November increased again, reaching $8 billion, and the total amount since the beginning of this year has reached almost $80 billion, which is about 70% higher than last year.

    Nobody saw these dollars. They only exist in digital format. And then (it is not known exactly when) China will repay the debt with its goods. In the meantime, Russia and China will coordinate the range of those goods and their prices. This is a job for decades.

    By the way, why are all the numbers given in toxic enemy dollars? It's probably foreign agents doing dirty tricks here. It would be necessary to translate all this into rubles and yuan, as Putin bequeathed.
  2. Sergey Latyshev (Serge) 24 December 2022 09: 34
    0
    Yes, Inogenty from the Kremlin squeezed in dollars here too. Where are the once declared Rubles? And for how many rubles does China buy a cubic meter? not written anywhere