EU oil embargo targetting Russian economy | DW News
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- Опубликовано: 30 май 2022
- The 27 EU members agreed a new sanctions package late on Monday covering more than two-thirds of Russian oil imports to the bloc, European Council President Charles Michel announced.
Michel said on Twitter the arrangement covers more than two-thirds of oil imports from Russia, "cutting a huge source of financing for its war machine. Maximum pressure on Russia to end the war."
The bloc also agreed on removing Sberbank from the SWIFT international payment system. Sberbank is Russia's largest bank and is majority state-owned.
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#Ukraine #Russia #oil
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It has been announced that the ship insurance companies (it is a conglomerate of 13 companies, mainly from the UK and Norway, will no longer ensure oil transport from Russia anywhere in the world. This makes Russia's exports to China and India virtually impossible. In addition, the relatively few oil tankers in the world (most are Norwegian-owned), will no longer transport Russian oil. I think DW should include these facts in their reports.
no the big shipers are greeks
They can not do that- stopping their oil tankers from transporting Russian oil.
They will go BANKRUPT hehehehe
The oil tankers SURELY WILL CONTINUE transporting Russian oil to Asia 😀😅😆🤣
@@frankrenda2519 It was true in the 70ties. Nowadays a very high proportion are Norwegian-owned. Some of them live in Cyprus and run their company from there for tax reasons.
@@WizardJon You are wrong! Russian oil in the far East is a very small proportion of world oil shipping. It is easy to do what they say they will do which is to stop shipping Russian oil. Also, they do not want to get banned too. Asia mostly gets their oil from the Middle East.
India or Russia ships will be use. Don't worried about that
Yes. Oil will be more expensive. Russia will earn more money. Well done.
Not necessarily....tgere is no shortage of oil elsewhere...plenty to go round!
Would you mind breaking that down for me -
There won't be enough buyers so not really. It would only work IF the demand for THEIR oil is the same and prices go higher.
Please look at the country with the biggest oil reserves on earth -
🇻🇪 Venezuela - basket case
Why - first sanctions- then the American
Second sanctions- you deal with them
You don’t deal with us …..
That is not how it works..
I have so much respect for the EU as an American because they're the ones getting hit so hard by these sanctions, not us. I hope my government provides aid to the EU to ease the burden.
😂🤣
Don't worry there won't be any sanctions. This is just a PR.
EU has no alternative to Russian gas
@@s.s.9276 indeed, after Ukraine, Europe is the most affected party to the conflict
@@s.s.9276 Sure mister big brain
OMG, please leave EU alone
What an amazing accomplishment of diplomatic skill. Anything that helps Ukraine is a beautiful outcome.
Lol
More like amazing failure of diplomatic skills
Wait till the costs of those Boomerang decisions reach the pockets of European consumers with full force...
Till now the consumers had no say on the absurdities European leaders are doing to please Washington at their own consumers expense!
European officials are puppets of the State Department, otherwise how can such an anti-European policy be pursued
Anybody want to fire Blinken, Sullivan and Nuland?
This is impressive. Kudos.
If Russian oil is allowed to continue to be delivered to Hungary then that oil and all derivatives should be banned from onward sale to other countries. Same applies to gas.
The EU and USA must supply and support Hungary with oil etc . All russian sales must be banned
Yknow it aint just hungary right?
@@oi2837 yes, of course but Orban is so blatantly pro-Putin it makes me suck. He refuses all and any aid to Ukraine and bans any NATO deliveries thru Hungary which has a common border with Ukraine. The latter should block the Russian pipelines going thru UKR territory to Hungary.
@@lennieunderscoreboy problem is petroleum is delivered to hungary only by pipeline from Russia with no equivalent alternatives
@@michaelmazowiecki9195 yes that's a big hurdle
*"The best time to plant a tree was 20 years ago and the next best time is now"* I consider this to be best motivational quote I've heard in a very long time. But motivational quotes are useless if you don't practice what you preach*
You're right, that's why I invested into assets like cryptocurrency and some stocks
Stocks are good to invest on, but crypto is more profitable
I wanted to trade crypto but got discouraged by the fluctuations in price
@@Johnclayton28 You have to get more experience first, work with a professional like Mr Dave Jevans on crypto to guide you step-by-step.
I heard that his strategies are really good
Yes i 100% agree this was the most damaging, but not for russia but for the EU economies.
But on the other side im almost sure EU and US politicians and banks are playing with the stocks and commodity prices making themselves richer while "normal" population in ALL sides (russia, us eu etc.) are getting poorer and reducing its living standards.
@GapYear sure 🤣🤣🤣
@GapYear yeah right just prices increasing, are you donating food to people starving in europe??
It is like you did not watch the video.
@@ramunasstulga8264 Nobody is starving in Europe, you troll. You will be.
Happy about it but don't complain when it hit you back.
Should not matter to us, because financing a dictator, warmonger and killer is not good; So well done EU.
Let's imagine eastern Europeans..living from wage to wage and their energy,food quadruple...sanctions will lead to poverty Europeans never experienced before.
@@bobpadok5331 i think russians are already there
@@bobpadok5331 that's war, I live in country that borders Ukraine and I support the sanctions. Alternative would be much worse.
@@severinsilmedin2588 sanctions not hurting Russians..it lead to higher prices and Russia may sell less and make more moneys...what is case and their revenues are 50% up!!!
Russia is greatest military force in the world...nobody can cross their red lines.
That took some time, but great that the member nations managed to agree.
@Liesl Pompe Who cares. Everything that is pipelined through Ukraine to Hungary gives Ukraine transit fees.
This means that Ukraine has the power over Russian oil.
@@stream2watch you probably hav'nt heard of nord stream have you?
@@newguy954 You put your apostrophe in the wrong place. Nordstream 1 is not connected to Hungary. Do they have maps in India?
@@stream2watch it bypasses ukraine and it connects to Europe which is more than enough.
@@newguy954 No, we are talking about Hungary. They are not gonna shift it to trucks in Germany.
Why don't they talk about how his will affect the Europe people who can afford these prices.
I heard that electric car is getting popular this day's
@@setsuna9757 And where is the electricity coming from? Also how do you transport food and other commodities to stores? Maybe think before you speak.
@@iosifmarius7302 Dimitri Stop! drinking vodka again......
It makes you very salty.🤣
It's party time for the world!
Buy Russia cheap oil!
And resell to Europe!
Get all your oil tankers ready and go!
Money~money~💲🎶💸🥳❤️👌
90% proud of being a European. 🙂 Let's handle gas now! Any reductions on gas import will prevent gas revenue to fall on Ukraine in the form of missiles.
Proud of what? For being the nutless cowards?😂🤣
50% here
You are delusional. Lol
100% being proud to be European. Not so proud of our current slow responses with delivering weapons and imposing sanctions (EU and Germany)
@@bennymuller3379
So you want to give Ukraine your tampons?😂🤣
Better late than never! Actually, it’s only now I’m starting to believe Brussels ‘s been working to make a change - as to the war now but also as to our own security in the future.
yes me too
'cause oil is realatively easy to ban compared with baning EU firms from selling products into Russia. THATS HARD !
Pushed oil up, raised inflationary pressure on us all well done Brussel all for the European assimilation dream
Elites are not affected only the low income and middle classes of europe stand by for eu member state regime changes, cant change the unelected commusion but nation states can be.
What change? The eu will simply use work around, no real change....
The real change will be with the US yet again. The technology gap between conflicted parties is getting so substantial with the growth curve its hard to see how they will ever catch up. I really hope that the inovation discovery and creativity of the free world with be what lifts it up the most. I think many humans are at their best when inventing or creating. ITs just so many have not had that potential because dictatorships view them as a expendable rescource. When in fact I believe human beings are our greatest rescource.
The fact they can agree on this, between many different countries, is kinda impressive.
Congratulations to the European Union for this result. Please continue.
Are you ironic ?yes?
😉
Cut off the nose to spite the face. Nice
@@gaborjuhasz5610 Ironic or dumb.
congratulations EU just continue the economic war and we all die later for nuclear war will follow and we all die, congratulations!
@@poorasiantv2389 happy to see your reaction, it means it is hurting and we should do more
I hope we also introduce some fuel-saving measures to go along with this embargo. Fuel prices will rise due to the lower supply, so we need to conserve as much as possible to counteract this trend. Don't just throw money at the problem and think it goes away.
Lower supply 😂
@dan mac good job, you’re able to copy and paste
People just need to start using less.
I lowered my thermostat with 2 degrees. I cook with more thought to energy saving. I don't even need to because I have a good salary. I do it because I want to.
People are not entitled to very cheap energy. People need to start thinking.
@@stream2watch we just stopped using the heating 2 months ago because it's oil fired, I have only a small tank (1000 LTRs) and at the prices of heating oil two months ago it will cost £2,000 to replace! I can't replace it, so I am preserving it. We are also reducing our electric usage and just traveling when necessary , if everybody does this, the prices will regulate and all will be fine. ✌️
@@1justme Indeed. It is a macho thing for me. If I did not have my mom in the house I would lower the temp to 16 degrees and wear woolen underpants. It is not a big thing. Cheap energy is like a drug for some people.
a start, but sadly not nearly enough.
The EU buys about 60% of Russian oil,this is a major blow to Russia's financial flows.
It will cause price triple and Russians win once again😉😁
This will drag down the last economic power of EU, Germany.
@@bobpadok5331 oil has a price hard cap, beyond that you just get demand destruction. These sanctions will hurt Russia, and it won't be made up with higher oil prices.
@@sophieedel6324 if Europe buy Arabic oil...Russians will sell more to Chinese,Indians etc. Demand is still same...and Arabs have not more drilling capabilities😁
Europe withouth cheap Russian resources become uncompetitive and deindustralization will be consequence...Asians will have competitive advantage😉
High life standard Europe experienced in last few decades was possible only thanks of Russian cheap resources..if you cut it...drastic decline will come.
@@bobpadok5331 russia has almost no pipelines to china and they are already at full capacity, new pipelines could takes decades. Europe had already decreased oil and gas usage before the war, europe transitions to renewables and green hydrogen storage.
Fred…good to know. Thanks for info
Congratulations EU. You have shown the way and the future looks good for Europe. Thank you for helping Ukraine, democracy and curbing authoritarianism!!
Yeah, supplying more weapon to Ukraine. So can use Ukrainian life to weaken evil Russia.
For whom looks the future good in Europe ? Its after all just another nail in the coffin. Europes exportindustries ( and millions of jobs) are hinging on cheap energy.
@@Zockopa there are better energy alternatives to Russian oil. Europe will now invest in those.
@@Zockopa at least (unlike Russia) they will still be able to manufacture goods. The Russian central bank is already talking about the de-industrialization of Russia because without chips from the west you can't make things like washing machines or cars.
I'm sure Russians will learn Chinese quickly to be able to use the new imports though. They can pay in metals, food, and oil. Raw materials for finished goods is the traditional trade pattern of a colony and their master state.
@@Stethacanthus There might be better,but the only thing that counts is are they cheaper ?
Because if not we are all are just getting poorer.
And if you look at the numbers russia so far this year made record profits on energy sales.
They are swimming in money thanks to the sharp rise in gas and crude prices.
Good but could be better. The West should not miss this opportunity to really damage Russia to the point it is no longer a threat.
They are only destroying themselves. Russia will sell to other countries outside EU. In the long run(2, 3 years time), the EU will realize they messed up. Their citizens will vote them out and demand a way to get oil.
🤣
NATO is the problem it's v clear. Stop blaming Russia.
Can the world do the same thing to the US? How many countries have you invaded? How many millions of people have you killed? How many economies have you destroyed? The Empire of Evil.
Way more damage to your own economies will now be established... Russia is doing fine record profits are recorded and a growing list of buyers taking your spots, While USA is still importing oil from Russia lol
That means cheap gas will flow to Asia by winter this year, while Europe freezes.
If that isn't bad enough, imagine the high cost for the factory, increased production cost means products has little competitiveness on the market, if products are not good sale, factory close, people going to lose their job, it is a chain reaction.
they dont have the infra for more lol a new pipe will take years
what i am interested to know is where EU will buy the oils from?
if Gulf states diverted existing contracts commitment to ASIA to EU, Russia will just sell to ASIA!
Exactly..
yes but prices will be around 40% less to Asia.
They can't. They don't have pipelines for it. EU has a lot of options.
@@ajnaughtin1 and this
No pipelines to Asia & no big shipping company is willing to transport oil or LNG?
All big players have chosen not to.
"partial" means "let's pretend we are helping, because we can't handle full embargo"
Better than nothing. I appreciate anything that harms Russia whitin the limits of what we can handle.
Pretend we are helping? You go first without oil. Than talk
Partial, because Hungary's undemocratic president has Russian sympathies.
@@Jo-Heike you're so ridiculous when someone thinks about financial economy ( Hungarians) , and thinks totally different to eu , you call him dictator ( Hungarians voted for him) , just rubbish without any common sense
I'm with you 💯
Russia should ban all its oil and gas now and not sell it to the rest of the world till next winter this will bring shortage and bring high price rise in the world this will be disaster for USA and west economy the effect will be shown in winter Russia can afford for one year in their budget
as well as uranium, platinum, grain, and other resources. But this is not done, because Putin is kind and thinks about the common people of the West.
Russia is self-sufficient in energy and food, only 36 countries are currently enforcing sanctions , the rest of the world is sitting on the side-lines and have no problem trading with Russia. These sanctions are hurting the EU not Russia .
The sanctions hurt the EU and not Russia. And Putin is just very concerned for the EU as he demands sanctions end. Such a nice guy 😜
Most of the Russian oil infrastructure exists to ship oil in Europe. Good luck shipping anywhere else.
Incorrect. Most of the world is currently not fond of trading with Russia. Not to mention that the top container companies in the world don't want to do business with Russia and that the ship insurance industry (which is vital to water oil transit) is avoiding Russia like plague.
And how exactly is russia going to get its energy to other market’s besides Europe without infrastructure? Europe can find alternative sources of energy way faster, than russia can build the infrastructure to serve other markets
@@robertjonker8131 we shall see how that will pan out....
Cool. Now we can all suffer together as one.
Much Respect!
Russia is probably laughing at the EU right now
Putin knew all this would happen...he has it all covered
I'm sure they're not laughing.
Temporary ban??? It would be very interesting to see its impact on their own economy. Lets see how people react when they find the increased prices of oil and gas.
Price for regular gas jumped from 1.6 EUR/L to 1.9-ish EUR/L. That's pretty much it. Can't say it's pleasant to see it happening but we don't really care. Can't comment on Gas at this point as we mostly use electricity in homes. Stores are still full of steaks, wine and Italian cheese. So all in all, nothing dramatic, yet :D
@@weichentechnikk8083 don't worry. You will care. Give it a time.
@@cenationofjnu all the best to you as well :D tiny troll :D ....we can check up in 5 months who's having that steak still
@@weichentechnikk8083 dont need 5 months again.just 2 months and see who will laugh so hard
@@maidenheaven5014 ok I am making a note :D
Now Asian countries will get cheaper oil from Russia....
Glad to hear it
I see everyone clapping of hurting Russia. The anchor forgot to ask what impact it will make in to the life of EU citizens in case of inflation and unemployment? This question is also to the clapping guys too!
there will be a non-competitive economy in the west, hyperinflation
EU is economicly powerful. They can handle it.
@@Maximum7077 I don't believe so
Not everyone is egoistic. There are some Europeans who believe in humanitarian values
@@bennymuller3379 at expense of own family life. Wow.
DW should ask an econom expert instead of an oil & gas expert.
Where EU will find the oil substitute?
China?
Then China will import more oil from Russia to be sold to EU.
China will not risk their own internal oil stock security for the sake of EU needs.
Similar case was happened when US banned some product imports from China few years back.
China export those to Vietnam, and US then found Vietnam as a substitute for the imported Chinese products.
End story, it is all exactly the same Chinese products with 'Made in Vietnam' stamped on the goods.
Next year EU will still buy Russian oil that identified as Chinese oil. 😂
Will EU react to this?
No, everybody will keep their mouth shut as long as they are not violate the sanction agreement among EU nations.
Genius
What are you suggesting to do then, let Russia get billions to finance the war? You do realise that Russian people will support this war unless they have nothing to eat
pretty much like how china ban australian coal. indonesia import those coal then sell it to china lol
I never looked at the sanctions with this perspective. Therefore probably this bloody war continues for a long time. So sad and heart broken for the Ukrainian. Divine give president Zelensky more wisdom how to handle it
They will move the oil halfway around the world, and say that they are reducing global warming.
We need sustainable energy sources, not redirecting. Good initiative, very welcomed.
Questions remain damaging to who ???
Never have I seen someone so happy to shoot their own limb...I wish EU and US also ban Saudi oil for invading Yemen, if UE and US truly genuinely care about freedom and lives.
I wish too, and generally to stop using carbon fuel, it only encourages wars. However, sanctions, like war, are never expected to not hurt the country that imposes them. It's simply choosing lesser evil over the greater, in the long run.
They don't know what they are doing. Who is paying the price of that decision. They should look for a way to get Ukrainians out of this mess they created.
Russians created this mess.
Now they will face a 25% reduction to the state budget and wells that fall into disrepair.
Partial??
Why they are not talking how those sanctions will affect ordinary citizens of Europe?
They will adjust no problem!
Because its nothing compared to what ordinary ukrainian citizens have to endure.
Partial means no ban, quit with the bs!
We´ve been feeding and fatten our worst enemy...now we must pay.
+1
worst enemy? lol
EU's worst enemy is itself
And good ole India will fill the gap, EU has been creating.
As was covered in the video, there's not enough transport capacity to get that extra oil to Asia, even if there was demand (there isn't).
The Indian economy is about as big as the economy of Great Britain, a single EU nation. The infrastructure to divert all exports is simply not there, India is unlikely to pay as much as the EU would, and Indian companies do not want to get sanctioned.
good interview
The EU needs to put pressure on Hungary and Turkey.
Hungary needs to be offered an alternative to Russian energy and strongly advised to accept it while Turkey needs to be willing to accept Sweden and Finland into NATO as well as the closure of the Bosporus and Dardanelle's to warring nations as per treaty of 1936.
That would be to assume that the decisions of the EU are correct. So far, I'm less than convinced.
@@Smudgie Also Turkey is protecting it's national interests by not letting Sweden and Finland join NATO.
Hi from Russia. Hungary completely agree and ready to join sanctions, once "alternative to Russian energy" will be found. I just not see how it could be achieved.
@@paulzx5034 Stay safe out there! I sincerely hope someone stops Putin and puts end to suffering of both Ukraine and Russia's general public
maybe kick Hungary out of the eu
Let see what happens in a few years time... If now after 3 months we have these inflation figures on many goods how is going to look in 3, 6, 9 months ?? or in 1, 2, 3 years ??
As I don't have a crystal ball I have no clue of what the world will be like in two or three years. We'll see; I'm neither optimistic nor pessimistic but panicking certainly won't help.
@@jfrancobelge The eu will collapse, the whole economy is run on cheap Russian energy, without it the eu simply cannot exist
At 5% lol
This is the way!👍
As a man from Asia currently courting a woman from Russia, it's personally sad to know that Russia is disintegrating itself economically, morally, socially and militarily in every sector by staging this aggression
Morally huh! Then you should be in the US camp.
You should find a Ukrainian woman their more desperate now. You might be able have 2 for price of 1 sale.
Support Ukraine one woman at a time. All the men are dead you can have as many as you can afford.
@@NewOrleansSeptember How dependent they are on importing nearly everything from other countries except for the most basic things like food and oil?
@@NewOrleansSeptember short term answers are not solving long term problems. You are the one knowing nothing
@@NewOrleansSeptember Russia's GDP is a mere 2% or less in relation to global-scale economy. This explains why so many companies found it easy to pull out. Russia does not matter to their profits.
2:15 Orban is a very dislikeable figure but you're putting a spin on this that he's an exception to the ban because he's a horrible guy. No mention that Hungary (and Slovenia) are FAR more dependent on Russian oil than other countries, and that no other EU member could cut off th percentage of their energy usage that sanctions on Russia would mean for these two countries.
It was understatement not "spin." Big difference. They said Hungary takes in more Russian oil than others. His motives in this particular deal struck on Russian oil are unclear, at best. It isn't exactly clear that the WANTS to reduce Hungary's dependence on Russian oil, after all. Any other phrasing would be giving Orban credit for the kind of collaboration with other EU nations that he doesn't have a record for. Any good, diplomatic leader could have found a way to signal to the press that Hungary wants to go further than they could. A press conference held with other key leaders, for instance? Even a statement directly to the press on the matter.
When did EU left one of its members dying of thirst? That’s why we are a union. Hungary and Serbia need to be kicked to the curb. Excuses excuses.
Slovakia, not Slovenia. Slovakia agreed to go along if they could have some extra help. Hungary could have done something similar, as it already has a pipeline from Croatian ports with sufficient excess capacity to replace all Russian Oil overnight. So that would not be so disastrous. Slovakia's Government, which doesn't have any such connection, was thus more willing to work with other countries than Hungary's Orban.
The leaders have agreed, but have the European peoples....?
These EU leaders are such.fools....next is the winter of all discontent...
European people forced this on their government. So cry more russian troll
Can a ban be partial ?
lol like the guy at 1:30 is in charge of letting oil flow to hunagry
Translating the Title: EU agree to help US making the oil prices High as F.
Sometimes in life, you have to make the tough decisions to address whats going on.Too many Americans do not get it get it, they want their way all the time, have no idea of sacrifice, or hardship, what we endure is nothing compared to others. It is called the price of freedom., wake up call time
Exactly…The Green Fraud reset
Can't wait to see more on this topic in 5-6 months from now when the temps go below 0. 🤣
Cope
Why partial? And how many countries will buy oil and gas via Hungary?
Ursula can't even get it together to dye her roots ffs
While China is set to be the biggest beneficiary of this war, trades are ongoing with friendlies like Nicaragua, Venezuela, Belarus, Kazakhstan, India, Vietnam, Philippines, Mongolia and Azerbaijan especially.
India a well
@@carlosgamarrath244 so what kick rocks hater
quite a list of those profiteering from mass murder and genocide.
LOL. Those are some heavy hitters huh.
They can cover but a tiny fraction of the shortfall. Developing countries aren't developed.
He said India
Buying gas from an authoritarian state currently actively committing genocide is a disgrace. Oil ban is good, but way too little, way too late. If you have a malignant tumour, such as the Russian blood-tainted energy, you don't just trim it around the edges. You remove the tumour. The whole tumour.
Your 'genocide' inclusion is quite important here. Just out of interest: do you also condemn all products originated from China and/or partly produced in China?
You know about the genocide cause you ve been there right?
America shouldn't have messed with Russia by committing coup in Ukraine in 2014
Exactly
@@peterparker9954 Uneducated
You did not mention which year. You should say end of this year or maybe is end of year 2030
Keep hurting urself eu
Europe should support more for Ukraine.
Your country should give support too.
@@9400lilly Ah, you should check what the US as already given and committed..
@@maaa.a.8003 well, you didn’t identify yourself as American. I thought you’re another one demanding Europa and America should do and pay for everything and everyone when they themselves don’t foot a single thing.
The EU has already destroyed itself for the Ukraine. What else should they do? Start WW3 to destroy Russia totally? Oh, wait, somebody would really love that....
waw eu ! i am proud of you! i am born and raised in EU but moved out many years ago. The prices have skyrocketed here for gas too and I'm not rich by any means but i am willing to make less trips than having to use blood-stained gas!!!!!!!!!!! again, i am so proud of you eu!!!!!!!!!!!!!!!!!!!!
Is Arab's oil not blood stained oil?
@@sorder6509 my bad I should have said European war stained oil. Middle East is still fighting over religion beliefs and until they decide to settle or accept everyone else's religion the war won't stop there. It was the same with Europe couple hundred years ago too. But eventually they passed over the religion war. And I'm not hating or being careless about middle east in all honesty I wish they would stop, in the end no matter of the religion color or belief people should learn to stop being tribal and work towards a common goal but I guess until aliens come and declare war on earth that won't happen and everyone is focused on spending billions on defense instead of acceleration of space exploration and multi planetary human development
I think if you really did what you preached
You would maybe end up naked
@@jokbok995 for being restrained and not go 4 times to MCDONALD and lower it to 1 2. Nah man I will be probably healthier if it comes to it. Going for walks instead of jumping in the car is something I forg9t how refreshing it is!
@@sorder6509
Tell me how is that bloody oil ? You know it’s Arabs who have been attacked by EU and USA every day in our lands?
Do you see Arab soldiers and airplanes and drones attacking the West?
As a result of the imposed sanctions against Russia, inflation in the European Union has already become higher than in Russia.
According to Rosstat, in annual terms, inflation in Russia in May was 6.02%, and inflation in the Eurozone reached a record level of 8.1% in May in annual terms. According to the latest data from the European statistical office Eurostat, this is the highest figure since the introduction of the single European currency euro in 1999. Earlier, economists estimated the level of European inflation at 7.7%.
Real accrued wages in Russia in March 2022 increased by 8.2% compared to February. The Russian budget in April 2022 increased revenues from the oil and gas industry by 48.8% compared to March - up to 1.797 trillion rubles, follows from the statistics of the Ministry of Finance. Compared to April last year, the figure has more than doubled. The volume of oil and gas revenues in April was a record, at least over the past few years. At the end of May 2022, oil and gas windfall profits were at the level of 544.6 billion rubles, which is even higher than the initial rather bold estimate of the Russian Ministry of Finance for May 2022 at 414 billion rubles.
well it's a step up from partially agreeing on a ban on Russian oil
It needs to be 100% as well as the gas
It will not happen because of Hungary
Come winter eu will cry
@@HShango pity, the Russian economy should be brought to its knees
@@khiraas5656 their stupidity for trusting Russia
@@khiraas5656works both ways, your economy is all oil and gas, all pipelines go to Europe. The Chinese and Indians will be in for cheap gas but it will take years to build pipelines. Enjoy being N korea
It is dawning on the entire world that Russia will *NOT* stop its aggressive behavior until it is forced too. 🤷🏻♀️
Set an example
@@RF-yh3qh Russia killed a lot of civilians in Afghanistan and Syria as well, and in Chechnya, DPR, LPR, but no sanctions were put on Russia
@@RF-yh3qh war in Afghanistan was started by ussr which is Russia actually. War in Syria was started by Syrian people. War in Ukraine was started by Russia. War in Iraq was started by the USA
@@pupssss6sorry Afghanistan it was USA (after 9/11), Syria was USA (with the excuse to help the rebels for freedom) and Ukraine just played the USA game applying for NATO....
@@RF-yh3qh Afghanistan was started by ussr, it is a fact, which made of Afghanistan what we know. In Syria it was a civil war, first, it is a fact. In Ukraine it was Russia and only Russia, and I know about this war more than about other wars, since I’m Russian and I’ve been following it since 2014. Please, don’t spread the rumer, that it’s US that started it. No! Ukraine is an independent county and can do whatever it wants, apply for NATO or not, apply for EU or not. And NATO is not a threat for my country, as Russia has nuclear weapon. The only reason my country started to kill innocent Ukrainians is because they want to live normal European democratic life with no corruption, and banditism in power, which is a threat for Putin. „If close neighboring country lives so well, then my end is soon“
Less investment into the war machine, could potentially mean less spending on rebuilding and supporting Ukraine, so it's potentially also a good financial decision in the long term.
the cost of one kW in Russia is 12 euro cents. In Germany 1.90 euros
Thanks to EU ..
Oil prices came down less than 1$ in many Asian countries
Russia need buyers in Asia so it's Discounted price is very attractive.
Which are the many Asian countries which have oil prices less than 1$
@@patrick9029 in my country Indonesia oil prices less than 1$
In India it's 90 cents per litre
@@GearUpind 52 cents per litre in indonesia
@@adenioilham3546 enjoy your cheap oil, payed for with the blood of Ukrainians. Don't come knocking at European doors when China decides to use their military.
Germany needs to do more and send what it promised. Words and weakness don't win wars, actions do.
Close the valve now, I would.
OK, so this avenue has pretty much dried up now. What is the next step before the effect of sanctions on Russia wears off while it turns on us on the form of fragmentation and disrupted supply chains?
@@Spearca Easy. They will readjust according to new buyers, such as Serbia, Iran, China and India. Point is, the Russian army must be defeated. Restricted weapons supplies won't cut it, much less economic sanctions. They have to go all out or suffer the consequences of sticking to half measures.
Thank you EU for refusing to deal with terrorist,murders,rapist and robbery. God save Ukrainian 🙏🙏
Well said!
You mean Saudi Arabia
Now watch the EU inflation rate jump from an already elevated 8 percent to 11 percent or more.
A fraction of the inflation in Russia, though. Still crowing, bot?
Food inflation is more than 20%. Energy as well.
Oil and gas traders in Europe will suffer ..also rise the price of goods
Finally a start
This is only to make EU leaders feel good about themselves but there people will grow restless will russia still has more food and energy
And being a Russian propagandist makes you feel good about yourself, it seems.
Winter is coming if I were putin I'll shut the gas supply to europe and watch them freeze to death
Half hearted, mild brush of sanctions did not work so far, will it be any different in future !!?
How do you know they "aren't working?" Because Putin hasn't gone into immediate full retreat? Sanctions aren't that kind of tool. The effects of sanctions can range from primarily symbolic punishments to having a medium to long term, crippling economic effect. They aren't a tool that's ever going to make anything happen immediately.
I actually think the other sanctions measures will have more of an impact. With oil, Russia will simply sell more oil to other nations that are not participating who will likely benefit from cheaper Russian oil. These nations include Turkey, India and China. Turkey and India are a bit "on the fence", sometimes strong Western allies, sometimes not. China is involved in a whole other geopolitical game and likely WANTS Russia to depend on them after it is weakened by this war in Ukraine.
These aren't mild.
GOLDEN
oil price skyrocket to 150 per barrel
Unfortunately they will sell half the oil at double the price
No they will not.
Most damaging for EU, you mean.
Think about broader picture. To stop fueling Putin's war machine will cause less economical damage in the long term. Rebuilding Ukraine isn't cheap and if give Putin enough money to start an attack on another country will hurt much more
Big deal! Now we're 4 months into this war and the EU is just gotten around to this?
"Partial" ban. Yeah right like we don't understand eyewash🥴
yeah,, this century is the century of Asia, Europe hurts each other, and Asia develops greatly.
Asian are practical, they are more keen to protect their rice/food bowl than dine in "Freedom and Democracy".
By the end of the year? Partial? Hahahahaha. Thanks Europe now Russia will sell their gas cheaply to Asia and let Europe buy expensive gas ( and military hardware) from US and lets see whether they can compete with Asia since their gas is cheaper.
In the video he explained the problem with selling to China and India. They only have the capacity to send 1 / 20th extra to China and India out of the amount the EU would stop. Can sell it yes but can't get it there at the volume required.
Up So Good
finally!! Keep going, still not enough
Russia will still sell their oil and resources. There are tons of countries that do not partake in the sanctions and still need their energy. The only economies that are getting hurt are EU economies, but keep throwing smoke towards our faces and convince us that all is well!
Meanwhile in Europe of development and prosperity, we are preparing for a winter under blankets and rolling blackouts while our wise leaders scramble to build LNG terminals so that maybe we can get the energy we need at multiple times the price we were paying. Thank you EU! We made sure that Russians can’t have Nike, Adidas and McDonalds, while we scramble to keep the lights on and figure out how to deal with food scarcities.
Its summer
@@ajnaughtin1 so you think that the continuously worsening problem will somehow be miraculously solved by the time winter comes in 5-6 months. What a clown. Enjoy paying hundreds of Euros more for your bi-monthly bills.
No alternative pipelines & no big shipping company is willing to transport oil or LNG?
All big players have chosen not to.
The other claims you make... You just haven't looked into the ins & outs of how the European energy sector works. We'll be alright.
Food scarcities? Where? I live in Belgium and I have not seen any empty supermarkets yet, except occasionally for sunflower oil, but plenty of other oils on the shelves.
@@jfrancobelge You can afford oil in Belgium, the food price increases will affect the poorer countries, who have lots of children and cannot afford to pay double price. But this is the plan, to motivate the coming 2 child policy.
With the EU stating they want to transition to renewables, nobody is interested investing in fossil infrastructure to increase their production, so replacing the Russian oil and gas is simply not possible. The brunt of the damage caused by the sanctions is taken by the countries issuing the sanctions, while private companies in the energy sector are making an absurd amount of money and are actually interested in making the situation worse, not better to make even more money. Perhaps we should sanction other entities not just Russia.
Ok boomer.
the germans dont want windmills in their backyards buddy and most of the worlds solar panel get manufactured by china,so if they decide to go renewable it would be a painful and risky endeveour.
It must be absolutly crazy at Brussles right now. Coming up with sanctions and getting it rattfied every 5 mins
Don't use the English language if you do not know the meaning of common words.
Russia should just cut off the oil supply
Gas to
Then watch the EU cry victim 😂😂
So we gonna be paying 5 times more that's If we find another source really smart move.
If they cant sell it they cant make war on ukraine.
Oh really 😂
Don't worry
India loves to buy "Cheap Russian" Oil 🔥
While the market price of Oil today has reached $120 ,India will continue to buy Russia's oil for 70-75$ per barrel. ✅
Is that Dr. title for witch doctors? Because it doesn’t match your ridiculous thinking 🤦🏼♂️
@@Ed-gd5ec Then India can resell it to the world win win situation.
Plenty of countries out there are more than happy to take the oil and gas from Russia. But you shouldn’t worry too much about it. Your EU of prosperity is preparing new instructions for you on how much you should heat your house this winter and how to start rationing your food among your family members. But you win! Because DW told you so
Sounds too much like Versailles
These clown in Brussels never cease to amaze me
clowns as they are... if they pull the right strings,,,russian soldiers might land into the other side of Volga in a couple of days
This is really good news. Hit Russia hard where it hurts. Let them think about their actions. They never expected this. Orban should be supplied separately.
So Europe ends up paying more for its energy making higher bills for the public with inflation higher.
Only supplement Orban needs is a good pair of handcuffs.
@@flexparachute they have to sell much cheaper elsewhere if they want anyone to buy more than they need.
Wait till the costs of those Boomerang decisions reach the pockets of European consumers with full force...
Till now the consumers had no say on the absurdities European leaders are doing to please Washington at their own consumers expense!
@@Maximum7077 Last year Russia sold oil at $50, in May of this year at $70, and in June it will sell even more
It's very,very good...hope everything coming from russia, food,gas,metal... it's a big welcome to asia....we benefit it...cheap russian oil....bad for you EU but it is good for us...
Nobody cares
there is an upside to this. cleaner air and water . but dont believe that the oil corps are just going to give up. they are fighting clean power every day.
Why only PARTIAL? It should be TOTAL!!!