Post
Topic
Board Economics
Re: LMAO: India resells Russian oil to the European Union.
by
paxmao
on 07/06/2022, 21:59:20 UTC
Let's see how Russia will be able to sell about 3 million barrels that were going to Europe and its allies.
Through the Druzhba pipeline? Haven't you realized yet that the EU oil embargo is pure farce and bluff. Hungary did not join the embargo, Bulgaria, Slovakia and Croatia did, but with a number of reservations and delays. A large refinery in East Germany that produces aviation fuel for the whole of Europe is designed for heavy Russian oil, and it is easier to build a new plant than to reconfigure an old one. Europe has painted itself into a corner with populist statements by incompetent politicians, and now their voters will have to pay the price. Russia does not need to sell three million barrels to Europe when Europe is driving up oil prices through its actions. It is enough to sell two million and get the same money or even more.

False. The embargo is real. The oil bought by those countries is 10% of the total and does not make any difference. Hungary is as close as a country can get to being expelled from the EU for failing to follow the rule of law, implementing one state of exception after another. They are already excluded from the EU funds for those reasons. Let them buy from Adolf Putin, eventually they may only be able to buy from him.

There is no lack of refining capability in Europe, there is no lack of heavy crude oil in the world. Unfortunately, the RF citizens are going to have a though time in the next decade.