Discover and read the best of Twitter Threads about #RussianOil
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1. It seems that #Russia has found another opportunity to circumvent #EU and #US #sanctions.
Which one? - mass purchase of tankers. Over the past six months, 240 vessels have been sold in the world,⬇️
@SecBlinken @POTUS
@RishiSunak @AndrzejDuda
mind.ua/en/news/202541…
Which one? - mass purchase of tankers. Over the past six months, 240 vessels have been sold in the world,⬇️
@SecBlinken @POTUS
@RishiSunak @AndrzejDuda
mind.ua/en/news/202541…
2. and all of them have unknown owners. And this is already the largest shadow fleet in the history of shipping.
#Russia is buying 25 to 35 large tankers every month to increase the number of ships it can carry to bypass #sanctions.⬇️
#RussiaIsATerroristState #SanctionsRussia
#Russia is buying 25 to 35 large tankers every month to increase the number of ships it can carry to bypass #sanctions.⬇️
#RussiaIsATerroristState #SanctionsRussia
#EUCO summit over, here are the conclusions:
Leaving #EUCO summit, 🇫🇷President #Macron tells journalists the exemptions for 🇭🇺🇸🇰🇨🇿 in the 🇪🇺ban on #RussianOil agreed last night are minimal.
He vows the exemptions will be time limited. But there is no such time limit in the deal. Leaders expected to revisit next month.
He vows the exemptions will be time limited. But there is no such time limit in the deal. Leaders expected to revisit next month.
Macron says he doesn't rule out 🇪🇺 following up with a #RussianGas ban. “We have to keep credibility and this strategic ambiguity is also useful”
But privately energy industry insiders & EU sources tell me at this time there is almost no chance of an EU embargo on Russian gas.
But privately energy industry insiders & EU sources tell me at this time there is almost no chance of an EU embargo on Russian gas.
Break: #EUCO agreement reached on #RussianOil ban
This is a compromise that will only ban #RussianOil imports by ship, but keep imports via pipeline. That was the only way they could overcome the veto from Hungary's Viktor #Orban.
It is a political agreement, it will still need to be translated into a legal text in coming days.
It is a political agreement, it will still need to be translated into a legal text in coming days.
Breaking the impasse on the #OilEmbargo means that the entire sixth package of 🇪🇺sanctions against Russia can now be adopted.
It includes a #SWIFT ban on Sbrebank, banning 3 Russian broadcasters and new sanctions on individual Russians.
It includes a #SWIFT ban on Sbrebank, banning 3 Russian broadcasters and new sanctions on individual Russians.
Leaders now arriving for the #EUCO summit in Brussels.
The big question journalists will be asking: are we really close to a Russian #OilEmbargo agreement today, and what are the details of this compromise?
The big question journalists will be asking: are we really close to a Russian #OilEmbargo agreement today, and what are the details of this compromise?
Entering #EUCO, 🇪🇺President @VonDerLeyen pours cold water on the rumours we are close to a #RussianOil ban deal.
"My expectations are low that it will be solved in the next 48 hours, but I'm confident that thereafter there will be a possibility."
"My expectations are low that it will be solved in the next 48 hours, but I'm confident that thereafter there will be a possibility."
BREAKING: We are close to an agreement on an 🇪🇺 ban on #RussianOil, and the aim is now to adopt this embargo at today's #EUCO summit, according to an EU official. Now added to agenda.
But we could still be in for some fireworks as Orban may hold out a veto on political agreement
But we could still be in for some fireworks as Orban may hold out a veto on political agreement
This last-minute compromise understanding reached by national diplomats just now would exempt all Russian oil imports that come via pipeline. The ban would only apply to seaborne Russian oil (2/3 of Russian imports).
It also includes some additional temporary exemptions.
It also includes some additional temporary exemptions.
It's important to point out that this agreement among diplomats at technical level doesn't necessarily mean we'll have an agreement at political level among prime ministers and presidents at #EUCO today.
We could be in for some last-minute surprises.
We could be in for some last-minute surprises.
Speaking after the emergency meeting of EU energy ministers in Brussels, French minister Barbara Pompili says ministers agreed that the conditions of their contracts should be respected.
She says the Commission provided guidance on legality of paying in rubles.
She says the Commission provided guidance on legality of paying in rubles.
Energy Commissioner Kadri Simson says she explained to ministers that payment in rubles constitute a clear violation of sanctions against Russia, "and cannot be accepted".
"Countries should not have any illusions they can rely on the good faith of Gazprom in this matter"
"Countries should not have any illusions they can rely on the good faith of Gazprom in this matter"
🇪🇺Commissioner Simson disputes the Bloomberg story that a number of European countries are already paying for #RussianGas in rubles.
She says she’s not aware of any EU country that is doing so or has announced their intention to do so.
She says she’s not aware of any EU country that is doing so or has announced their intention to do so.
Waiting for the 🇪🇺 energy ministers to arrive for the emergency summit to agree an oil embargo against #Russia and a united stance on #Putin’s demand to pay for gas in #rubles.
The decisions taken today will have ripple effects throughout the global economy.
The decisions taken today will have ripple effects throughout the global economy.
@BarbaraPompili,🇫🇷French Minister for Ecological Transition who convened this emergency meeting of energy ministers, stresses upon entering that the purpose of today's summit is to respond to Russia shutting off the gas taps to #Poland & #Bulgaria, not to discuss the #OilEmbargo.
"Today's council is exclusively on the question of gas and not on the question of oil," Pompili tells a reporter who asks about the embargo.
"We have other discussions that are ongoing, but we must stay focused today on the issue of gas."
Playing down expectations?
"We have other discussions that are ongoing, but we must stay focused today on the issue of gas."
Playing down expectations?
🇪🇺energy ministers holding an emergency meeting today to discuss how to respond to Russia shutting off the gas taps to #Poland & #Bulgaria - and clarify whether paying for gas in rubles would violate the EU's #RussiaSanctions.
They'll also try to find agreement on a #OilEmbargo.
They'll also try to find agreement on a #OilEmbargo.
What we know for sure is any 🇪🇺 embargo on #RussianOil won't begin immediately. It would probably be phased out by end of the year.
In order to avoid an #Orban veto, #Hungary may have to be granted exemptions. #Italy & #Greece also need more convincing. But #Germany is on board.
In order to avoid an #Orban veto, #Hungary may have to be granted exemptions. #Italy & #Greece also need more convincing. But #Germany is on board.
Today's emergency meeting starts 3pm. If 🇪🇺 agrees oil embargo it will send shock waves through the world economy, analysts predicting it will lead to even higher inflation. There are fears of resulting social unrest.
#Brussels & #Washington in talks on how to cushion the blow.
#Brussels & #Washington in talks on how to cushion the blow.
🇪🇺Council President @CharlesMichel giving a press conference with 🇺🇦President @ZelenskyyUa now in #Kyiv.
Zelensky says he personally appreciates Michel’s visit despite the security challenges.
video.consilium.europa.eu/event/en/25730
Zelensky says he personally appreciates Michel’s visit despite the security challenges.
video.consilium.europa.eu/event/en/25730
Zelensky: “On 🇪🇺 membership we have discussed that this is a priority for our country.”
“We are waiting, we have answered the questionnaire. So we are waiting on the meeting on this very important issue for our country”
“We are waiting, we have answered the questionnaire. So we are waiting on the meeting on this very important issue for our country”
🇪🇺Council President Michel: “This morning I went to #Borodyanka to see the situation with my own eyes. There are no words to explain what I feel… these are atrocities, war crimes”
“It must be punished. They must pay for what they have done there any in many other cities in 🇺🇦”
“It must be punished. They must pay for what they have done there any in many other cities in 🇺🇦”
It’s really feeling like the 🇩🇪🇦🇹 position against an 🇪🇺ban on #RussianOil is no longer tenable, and they know it.
Feeling in Brussels right now is: these two demanded drastic sacrifice in 🇵🇹🇮🇪🇬🇷🇪🇸 after mistakes were made there. 🇩🇪🇦🇹 must make sacrifices now for greater good.
Feeling in Brussels right now is: these two demanded drastic sacrifice in 🇵🇹🇮🇪🇬🇷🇪🇸 after mistakes were made there. 🇩🇪🇦🇹 must make sacrifices now for greater good.
The counter-argument is that the negative economic effects of an oil embargo wouldn’t just effect 🇩🇪🇦🇹, they would effect all of 🇪🇺 by destabilising the economy and causing energy prices to surge.
But you can understand why 🇵🇹🇮🇪🇬🇷🇪🇸 are sceptical of such contagion arguments.
But you can understand why 🇵🇹🇮🇪🇬🇷🇪🇸 are sceptical of such contagion arguments.
Even if 🇩🇪🇦🇹 agree a #RussianOil ban (which would necessarily need to have a long phase-in) the remaining question is 🇭🇺.
#Orban still says he’ll veto any ban on 🇷🇺 oil or gas. Would he risk destroying his alliance with 🇵🇱 for that? Would 🇩🇪🇦🇹 be happy to hide behind his veto?
#Orban still says he’ll veto any ban on 🇷🇺 oil or gas. Would he risk destroying his alliance with 🇵🇱 for that? Would 🇩🇪🇦🇹 be happy to hide behind his veto?
Chevron told Biden they could produce 800,000 barrels a day from Venezuela, replacing 100% of Russia’s oil exports to the US. But the plan's being blocked by Debbie Wasserman Schultz and Bob Menendez, tweedle corrupt and tweedle corrupter —via @KPFARadio kpfa.org/episode/flashp…
And, of course, Charles Koch is using his influence to oppose the plan too, supporting the embargo of Venezuela, but not Russia. #Ukraine #UkraineWar #UkraineRussiaWar #Russia #RussianInvasion #RussianOil #Putin #Venezuela #OilPrice #OilPriceHike
gregpalast.com/when-you-corro…
gregpalast.com/when-you-corro…
And, weirdly, some greens, like Bill McKibben, are saying no to Venezuelan oil — as if the alternative right now was solar powered cars. Bill’s been a great voice for warning us about climate change. But this is about right now. soundcloud.com/gregpalast/fla…
Let's call out BS when we see it. The administration said today regarding the US halting their purchase of Russian oil: "Given high oil and gas prices, cutting off Russian oil and gas could drive prices up to Putin's benefit."
Uhhh, No.
Uhhh, No.
The only way halting the purchase of Russian oil would raise oil prices is if that Russian oil does NOT get bought by someone else. My hunch is that, effectively, all of it would be bought by someone else and it would have no effect on oil prices or R. But we should still do it.
But, let's suppose some of it wasn't bought by others, and that drove the price of oil up. Why do we know Russia would be worse off? Because if they were made better off by selling less of their oil, THEY WOULD SELL LESS OF THEIR OIL ON THEIR OWN!!
