Thread by @investigate_eu

🧵 December #sanctions targeting Russian fossil fuels ban #EU vessels, insurers & others from facilitating 🇷🇺 crude #oil trades internationally - unless purchased within a #pricecap set by the west.

The west has “hamstrung its plan’s chances of success”, some analysts say, pointing to the absence of major buyers China, India and Turkey in the price cap. Another flaw is that the price cap – set at $60 per barrel – is above the average price for Russian crude 📈

With exports now price-capped for global buyers 🛢️, traders have to prove purchases are #legal: The system is “unenforceable” and “allows European companies to facilitate a trade that is funding the war in Ukraine,” @Global_Witness say.

"The price cap relies on the honesty of traders, shippers, and insurers to self-report the price paid for Russian oil. These companies cannot be trusted to mark their own homework,” Global Witness' @MaiRosner told Investigate Europe.

Despite the #pricecap many European firms continue to #profit from moving #fossilfuels out of #Russia, with the trade adding millions of euros to the Kremlin’s war chest.

#FuellingWar: read our latest report w/ @reporters_gr ⬇️ investigate-europe.eu/en/2023/europe…