Seven refineries processing Moscow’s crude in India, Turkey and Bulgaria continued exporting refined fuels to the EU.
So basically, all the financial warfare against Russia has failed.
Seems more like Europe is mostly hurting itself instead.
While this is still a big number, Russia’s oil revenue both from the EU and in total has been massively reduced.
I think it’s hard to argue reducing dependency on resources from a frequently hostile country is “harming themselves”, especially since Russia has intentionally interrupted supply as leverage.
Yeah, I overstated my point, Russia hasn’t been untouched by sanctions and trade war. That said? The Eurozone slipped into a recession in June and GDP growth been flat since then, I don’t know why people are trying to argue that they haven’t been hurt by this. The US has orchestrated a master stroke of geopolitics. It has been able to hurt its rivals in both Europe and Russia at the same time and tricked them both into doing it to themselves and thinking its in their own interests.
Russia’s oil revenue both from the EU and in total has been massively reduced.
Not really. Although Russia revenue from the EU has been reduced significantly, they manage to open up a new market in the East that massively stabilise their gas overall revenues. Russia is nowadays redirecting its resources east and building news pipelines to meet the demand from the East e.g. China. They no longer care much about the EU market.
That was never the intention and totally unexpected outcome of the sanction. They never thought China, India and even Turkey will come to the rescue. To say EU are not affected is an understatement. The EU now has to depend on the higher price gas from the US, Germany had to abandon their green initiatives and go back to coal, and they even have to buy Russian gas at higher inflated price from middleman to circumvent their own sanction - do you really think they dont know they are actually buying Russian gas? Of course they know. But they have to because they will suffer more if they don’t.
- Gabu ( @Gabu@lemmy.ml ) 11•4 months ago
Except it clearly hasn’t. Why are you manipulating public discussion in favor of a dictatorship?
Asserting so does not make it so. The Eurozone is in recession and growth is flat, meanwhile Russia is still growing. Russia is coming out ahead of this sanctions/trade war with Europe.
That said? The US is the real winner here. It gets to hurt Russia and Europe and the same time and make them think it was their idea! Meanwhile, people just assume anyone who doesn’t say Russia is going to collapse any day now is working for Putin. 🤡
- Gabu ( @Gabu@lemmy.ml ) 4•4 months ago
Russia is still growing
You mean like how the Soviet Ruble was worth hundreds of dollars, yet the USSR had to pay for western goods with old battleships? Oh, the irony - “Asserting so does not make it so.”
I mean like how the IMF said their economy grew over 5% last quarter.
exactly. and buying lng from usa as we do now costs a whole lot more.
Turkey and Bulgaria? Where is Hungary or don’t they have refineries?
Not sure why Hungary was excluded. They’re getting oil from Russia directly through the pipelines. Others probably ship them, so that’s why they were excluded? Bulgaria gets it from Kazakhstan, Iraq and Tunisia. But the oil from Kazakhstan comes from Russian pipelines, I think.
Putin seems to have 200+B$ in bank, insane
