“A record 62 million barrels of oil from Russia got stuck in the ocean”: an analyst revealed the ins and outs of the “successes”

31 May 2022, 02:31 | Economy
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The successes declared in Russia with oil sales, which allegedly only increase against the backdrop of European attempts to impose an embargo, are in fact a manipulation designed to hide a very deplorable state of affairs. Mikhail Krutikhin, a Russian oil and gas market analyst, stated this on the air of Khodorkovsky LIVE..

Answering the host's question about the record 62 million barrels of Russian oil "

“According to the Russian government, Russian oil production, which declined in April, has suddenly begun to recover.. And in May showed all the signs of growth. The government says that by the end of the year production will grow even more. Then where did these 62 million barrels come from? Once, and for some reason, there were no buyers for such a huge volume? Something here is so strange and wrong,"

According to him, the fact that Russian oil is simply being refused in the world, despite the offer of huge trade discounts, is obvious..

" Firstly, this is a discount that reaches up to $40 per barrel, at a price of $108-112 per barrel, this is a very large discount.. Next comes another concession for buyers - the sellers promise to deliver to the port at their own expense, having paid both for the freight and for the tankers. And anyway, for some reason it doesn't help,"

At the same time, Krutikhin stressed, there were no sanctions on Russian oil.. Bans were introduced only in a few countries - USA, Canada, UK.

However, according to experts, despite this, Russia has very big problems with the sale of oil..

\? Payment must go to some banks. And, despite the chain of intermediaries in financial transactions, all the same, payments go to Russian companies and Russian banks.. And the financial system of Russia and most of the major banks are under sanctions, not only American and European, but even in some Asian states,"

The second circumstance, according to the expert, is that companies are waiting for the punishment for violating sanctions against Russia and the toxicity of trade contacts with Russia.

" We need a specific example for someone to be punished severely. But now the issue is being discussed in the European Union, so that cooperation with Russian companies that are under sanctions will be recognized as a criminal offense, complicity in terrorism.. And that's why it's scary to get involved with Russian oil and Russian tankers,"

At the same time, he cited the example of India, which is presented in the Russian media as a success in the field of increasing oil sales..

" But still, these volumes are less than 6% that India buys.. In that market I command Iraq, Saudi Arabia, the United Arab Emirates. And it is very, very difficult for Russian oil to compete with them,"

In addition, he noted, oil from Russia to India still needs to be transported somehow..

" Or even from the Baltic ports somehow. Or from the Far Eastern sweats. But this is much more of a transport shoulder. It eats up most of the profits. Russian companies are not in the loser.

But it's getting harder and harder to compete with them,"

In addition, he admitted that India, on the issue of Russian oil purchases, will still reach a certain level of understanding with the United States and the European Union.. After that, it will refuse or severely limit purchases from Russia.

Recall, as it became known, the FATF removed Russia from influence on decision-making in the organization, and is considering the inclusion of the Russian Federation in the " The organization is seriously concerned about the impact of the Russian invasion of Ukraine on the environment for the risks of money laundering and terrorist financing.




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