The oil embargo will be a very painful blow for Russia, because if there is nowhere to put gas, it can be flared, but with oil everything is more difficult.
In addition, Russia receives the bulk of its energy export earnings from oil and oil products.
President of the Center for Global Studies “Strategy XXI” Mikhail Gonchar spoke about this in an interview with UNIAN.
“It is possible to reduce production (of oil – ed.), pump it into the tank farms of Transneft or corporate producers until better times. But the volumes of these parks, with the Russian export volume of 230 million tons, clearly will not allow to accumulate for many months in advance. Killing wells when demand falls possible, but not all of them can be restored later ,” Gonchar explained.
He also drew attention to the fact that it is due to oil and oil products that the Russian Federation receives the bulk of energy export earnings.
“If we compare, last year the Russian Federation sold oil together with oil products for 180.1 billion US dollars, gas for 55.5 billion, and coal for 17.6 billion. Therefore, oil revenues are the main source of Russian aggression “, said the expert.
Recall, on May 4, the head of the European Commission, Ursula von der Leyen, announced the sixth package of sanctions against Russia for the invasion of Ukraine. It also included a proposal for a phased oil embargo.
Note that Hungary does not agree with the EU decision on the oil embargo for Russia. The country does not see any plans or guarantees in the current EU proposal.
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