More than a ban! Germany and Poland are reportedly ordering record quantities of Russian oil
Russian pipeline operator Transneft has received orders to buy crude oil from Germany and Poland, RIA Novosti reported today, citing Transneft chief executive Nikolay Tokarev. The oil will be transported via the Druzhba pipeline, which is not covered by the European Union's embargo on imports of Russian crude, which only affects deliveries by sea.
The embargo, which came into force on December 5, aims to reduce Russia's revenues from oil exports, which the EU says the country is using to finance the war in Ukraine. Two months later, on February 5, the EU will implement an embargo on exports of Russian petroleum products.
The news of the orders for Transneft comes after Poland called for sanctions on the Druzhba pipeline in November in a bid to further squeeze Russian oil exports to Europe and abandon a deal it already had for Russian oil supplies through the pipeline without having to pay penalties on the contract.
Germany, for its part, has pledged not to buy any more Russian oil starting next year. To this end, it has secured a deal with Poland for the supply of non-Russian crude oil to the German Schwedt refinery, previously owned by Rosneft but taken over by the German government earlier this year. The Germans kept their word with their usual seriousness.
Under the deal, Poland pledged to deliver two to three shipments of oil of 100,000 tons each a month, starting in January, according to an unnamed source close to the negotiations, quoted by Reuters.
Meanwhile, major Polish refinery Orlen said in November that it had asked Transneft to deliver 3 million tonnes of crude through Druzhba during 2023.
The Druzhba pipeline also carries crude to landlocked Hungary, Slovakia and Czechia, all of which were opposed to sanctioning the infrastructure due to the difficult nature of trying to diversify their oil supplies.
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The article Other than a ban! Germany and Poland reportedly ordering record quantities of Russian oil comes from Economic Scenarios .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/altro-che-bando-germania-e-polonia-starebbero-ordinando-quantita-record-di-petrolio-russo/ on Tue, 20 Dec 2022 20:32:55 +0000.