How Russia sidesteps the EU oil embargo with aging tankers | DW Business
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- Опубліковано 14 жов 2024
- The European Union has long relied on sea deliveries to receive the bulk of its Russian oil imports.
Beginnning Monday, those shipments fall under embargo and will stop by early January, following a grace period. Many Russian oil tankers are now heading toward Asia.
But can Asia make up the difference? In October, Russia exported almost 8 million barrels of crude oil and oil products, such as diesel, per day. Two and a half million of that went to the European Union, the bulk of it transported by sea. That's down from before the war.
Crude exports have recently surged to other countries, especially India and China. In October alone, Russia transported the equivalent of 1.1 million barrels of crude to India every day. In January, it was just a mere 100,000 barrels. Crude exports to China have also increased.
Many experts believe that as the embargo approaches, Russia is gearing up to ship more and more crude directly to Asia.
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#Russia #EU #OilEmbargo
Calling a tanker a "rust bucket" is a great way for a tanker to lose "self-esteam".
we are tankful for your observation
Where is the self esteem of EU,UK and US. Literally linking the boots of middle east
It's also an industry term for a really old knackered ship.
They're just a load of old ship. Hardly anything to boat about.
@@CS79N I sea what you did there..
So basically everybody is buying Russian oil...China, India, Turkey, Middle East, Africa, South America....and EU is sulking because they are stuck with expensive oil/LNG from USA, Saudi Arabia, Qatar..
Basically.
If the Europeans had never stopped trading with America when America invaded Iraq and Afghanistan then why would India and China stop buying oils from Russia because Russia invaded Ukraine? Another example of the double standard.
"A day without hypocrisy is a day of wasted "- Western countries
What's hypocritical about this story? A day of wasted what? Which western countries?
Someone salty. The problem is people thought west will just role over and the Russians keep getting slaped
to be fair usakistan and its white supremacist lackeys are not the west.
the west is far more than just them.
and we're not joining them in their ridiculous embargos.
@@arthas640 All of you. Thank God Saudi make use of you all. Bought cheaper oil from Russia and sold it at higher price to your hypocrite countries. Now you can taste your own medicine
Russia sucks grow up.
Uninsured rust buckets transporting oil around the world………..What could possibly go wrong?🤣
Hmm... The EU could set a price that's too low to transport economically on the insured ships, thus turning the entire fleet into poorly maintained rust buckets.
Like a brand new Gas pipeline ?
A single country monopolised the banking system, re-insurance industry and right to military interventions. What can possibly go wrong?
@@NTraveller If you can't play nice get out of the sandpit.
@@Featherface01 there are no monopolies in the sandpits. Which proves that that sandpits are safer than international policy and economy
Price cap means nothing if the supplier refuse to sell you goods.
Good for Asia
Asia already buys Siberian crude at a discounted rate. This simply brings Europe on par with Asia. Asian economies lose their temporary competitive advantage, which is hard to construe as a good thing.
They have to sidestep it. Otherwise, how will we keep buying Russian oil refined by Saudis at premium prices?
I used to inspect ships: most Russian commanded ships, were unpainted for long periods, painting is extremely important again corrosion.
Some ships were almost lost, some ships were lost, many lives were lost due to “mismanagement and inadequate maintenance.”
Besides Russian oil is not premium, it contains raised amounts of sulphur compared to other standards.
Due to this expensive sour water installations have to be installed, so the rest of the refinery doesn’t rust away.
a lot of people cant see that far ahead...lol😅🤣😂
Dws anchors have the gift of stopping qualified guests from answering their questions properly.
I hope everyone noticed that they showed the change in Indian and Chinese oil imports from the star of the year, but they deliberately avoided showing EU imports from the star of the year.
And your point is?
@@JohnDoe-vy5hh that Europe still bought 2.5 million barrels of oil/ day ! Europe: 2.5 mil/day
INDIA and CHINA.: 1.1+1.9 mil/day .
@@archismaanrudra876 1.1 + 1.9 + 2.5 = still less than the 10 million+ shipped prior.
@@shelbynamels973 europe still buys more oil than the next 10 countries combined
@@JohnDoe-vy5hh point is you have no fkn point in asking the point.
Not demolished Andrew, but scrapped! Buildings and structures are demolished, but machines and vehicles such as cars, planes and ships are scrapped. Literally taken to a scrapyard for disposal and recycling.
Of course they will but there's the little problem of the price cap. Tell me what Asian country is going to demand to pay more for the cheap Russian oil? Hopefully they pump like mad because more oil means lower prices for everyone 😁
Have you forgotten that there is an organisation called OPEC & plus what say them about your price cap, it seems as though the act now and think later western elites haven't factored this in, why would OPEC members limit their profit just to satisfy you let's just take some popcorn 🍿 and see how it plays out.
Yeah, European countries were paying good money for Russian oil. Other countries won't
@@mateuszpapla2163 some thing cheap Russian oil helped Europe, Europe can't get as cheap oil as Russian
Needs know no price cap
@@coin9007 True, but thats over now. Europe is switching gears, and won´t come back to Russia. In the long run, this will destroy Russias economy (and military power) entirely.
Why would an oil buying country not want to buy Russian or any country’s oil if they can get oil at a discount?
You mean cheap. Morals, ethics and the idea that others may suffer goes right out the window.
Business is business, right?
@@arfajob4246 My point is if Russian oil is completely cut off, the price of oil will go up for all of us. However if the Russians are forced to sell oil at a discount, the get revenue but a much reduced price and profit. While at the same time keeping oil prices down for everyone. The “dark horse” is OPEC! What will they do about the production of oil? Will they lower production to keep the price if oil artificially high?
@@arfajob4246 those are memes
They are retcon excuses/justification for after the fact.
@@michaelcross4112 not memes or excuses just an observation and hypothesis based on information and facts.
@@aminor7476 then I did not make myself clear so to rephrase what I said:
*Morals and ethics only count when it suits us*
That goes for both sides.
For example both the west and Russia pretend to care about democracy or whatever except when they don't.
They are both selective about when they care.
An aging oil tanker I worked on earlier this year is now under Russian ownership, so I had a feeling this was going on when I found out the nationality of the new owners via ship brokers. My ship has become a modern-day blockade runner of sorts which is surreal to think about. These ships are using every normal trick in the book not to be directly linked to Russian owners, such as being registered in flags of convenience (common for most ships around the world anyway) and being owned and chartered through a series of companies (as is common for many cargo ships) as well as (in the case of my ship) being given a name that has nothing to do with being Russian. The crew onboard will likely still be Filipino given they are the largest group of seafarers by nationality. The officers may still be Russian as they were when I was onboard. The nationality of the crew and officers having little bearing on things other than the labour that's most cost effective for the owners and charterers. Getting insurance for both the ship and her cargo won't be anymore of an issue than normal either in my opinion given the way things are arranged.
🍻
Correct, it is very very easy to disguise everything about a vessel in the modern world. As for insurance most are unaware that for the hull you need no insurance at all, you can part insure i.e. 2/5 or fully insure up to you. Oil liability insurance is compulsory, but if you only trade between Russia and a partner willing to turn a blind eye it is possible to skip this. The Russians now in effect insure their own vessels 'in house' and their shadow fleet is highly likely to be insured just the same, with the same insurer. It will be interesting to see what insurance P&I (predominantly Western) provide to these vessels, and if it continues, and whether they comply with long range and AIS tracking, I suspect not. Enforcement of International Regulations are only really enforceable for vessels engaged in free trade, two rogue nations by agreement can effectively do as they wish. I would guess that a country that ignores the rules on invading another country by the United Nations would not lose sleep over breaking IMO regs.
People have to remember Russia is a country with less than half the population of the US with a GDP just above Spain.
As we have seen with their military Russia has to do a lot of shortcuts in maintenance and many other things to keep up with the west.
@@Crashed131963 joke of the day...😂 does US possess hypersonic missiles? compare US minute man to SARMAT missiles and more.. Comon Joe we not in the old age era..🤣
Nobody is stopping the insurance... Just that to qualify for any insurance the delivery price of the oil has to be under the cap.
But nobody is banning Russia from insuring the ships. In fact ships have no choice but to be insured.
I suppose Russia could offer its own insurance. But then that offers all sorts of nefarious characters and organisations the chance to knock Russia for six by arranging for someone to make a claim on that.
All of the sudden 🚢 OIL SHIPS become RUSTY when you don't need them? 😂
No but these are second hand and aging. So it is a matter for concern, obviously.
@ Bram so there were no concern when other countries was using them you love Russia so much so you are concern
@@charlesekpima8210 What I am concerned about is irrelevant. The rest of your gibberish is incomprehensible.
Also the sad part is relying on old tanker ships that even with the tiniest of mistake could cause centuries of damage to the ecosystems of marine life
China and India will love it when a Russian rust oil tanker pollutes their territorial waters and Putin grins maliciously at the information that Russia will not pay for the damage.
@@ettoreatalan8303 have you seen the rivers in India and China? Them and they're neighbors have already contaminated a lot of water and rivers. Search "Holy river in India garbage" and you will see
@@steveellis2501 And the sources for your speculations are...?
I don't think Putin cares. He bombs maternity wards so what is a few fish worth then?
I used to inspect ships: most Russian commanded ships, were unpainted for long periods, painting is extremely important again corrosion.
Some ships were almost lost, some ships were lost, many lives were lost due to “mismanagement and inadequate maintenance.”
I just hate when reporters cut short their interviewers. That just seems so damn rude, if you don’t have time to interview a person, don’t interview them, but this is so damn rude.
Its insulting to be honest, specially when they try to interrupt them
The interviewer needs to be told when to stop because they have a specific time slot. It may not be nice but you don't want a single person talking all day.
News broadcasts are tightly scheduled, usually down to the second. To keep to that schedule, news anchors have no choice but to interject and cut people short. It's the way things have been done for approaching 100 years.
If it's any consolation, those being interviewed know that can happen in advance, and that no offence is meant by it.
I dont see an issue. Iam pretty sure the people who are getting interviewed are aware enough that the time is limited and won't be mad when they get interupted.
@@CountScarlioni right, so edit the recorded interview for pete’s sake
You people are funny. Everything you throw at Russia bounces back to you and you don't stop
Is that why you're stealing washing machines from Ukraine, Sergei, because you have sooooo many to spare at home?
You don't see the bigger picture and instead see this as Russia winning? Interesting
@@nvelsen1975 and obviously people in LA,NYC,Chicago sleep on streets in December nights because they have slept in cosy homes all their life and they're just bored,right?
@@neetubajpai2136
That's the distribution of wealth the US has chosen to have and always has had. Nothing is new.
Just like in Russia thousands die on the streets every year and in India people dying in the streets and being attacked by BJP rape-gangs is nothing new because of the war, that's how it's always been.
Boomerang effect!😊
Could be a pretty sweet gig: buy a used tanker for $100,000, gross $350,000 a day running oil bypassing sanctions, and when the thing sinks just escape on a jet ski and walk away. You'll break even in a week so anything past that is free money.
Where do you get 100k used oil tankers?
What many in EU don't understand is that, the increase of shipment costs by the mid-buyer (processor) in Asia, Middle East and Africa will be paid by the end user in Europe. 🙄🙄
WHY NOT?? Didn't Europe Fuel It's Renaissance From Knowledge Systems In India/Asia??!!
European Energy Freedom From Russia is Enforced By Buying Oil & Gas From Asia & Free Nations!!
You did watch this video right? you must have noticed that Russia has to go through the West to send oil to Asia. so the West has control of what ships can go where meaning if the West don't want the oil to get to Asia there is nothing Asia or Russia can do.
@Facts you should educate yourself on the world law before commenting. Military ships and commercial trade ships have different rule. If the west blocks commercial ships, then the 75% of the world should sanction the west as well.
From 100,000 barrels per day to 1.1 million barrels per day to India. That's massive jump and after Ukraine war!
India needs oil to grow. Sorry. EU needs to make peace with Russia. 😅
How much is China getting?
EU leaders keep making blunders putting it people and other in poverty. Now insurance brokers in china and india are ready to insure tankers just purchased by russia to ship it crude oil to customers ready to pay it price not price determined by EU. Madness..
exactly instead of doing what's best for the people that put them in office they bow down to America hoping to get more children to abuse
You realize that insurance companies can also go bankrupt with too much payouts right?
@@lastsong7159 yes and they will disappear when the SHTF.
and they are building pipelines like mad. It will take another few years and they can retire all the tankers.
Slava Ukraine!
Russia can get tankers from China and india.
How can Russia ship crude oil to Asia if Russia is Asia? These news anchors are a joke.
If India didn't buy Russian oil then oil will be 150dollars. If Nato sanctions Russian oil then oil will become 150 dollars. Blaming India is just jealousy.
did nato sanction russia? who is blaming india?
"An aging fleet of ships." oh, my sweet child, wait until you see our aircraft.
Don´t forget that at the beginning of the war, Russia has stolen hundreds of commercial aircraft from foreign companies inside its borders.
A better question is how is EU ignoring its own embargo and getting oil from Russia.
Then there are the offshore ship-to-ship transfers to get oil into countries that ARE imposing embargoes... This has not impacted Russia as strongly as anybody hoped.
The oil infrastructure is primarily to Europe who pay well. Through pipes through Ukraine and others through Turkey from Iran. Selling to Asia covers the cost of storage but is a 25% write off as to normal profits this year . Energy needs to be developed and sold to pay for more development...
Respectfully, if told don't buy 'A' then said mouth must take accountability and ensure alternate supply of 'A' at same old rates and quantities.
You get to buy “A” at 30% discount, didn’t you watch?
@@TheSteinbitt Exactly. Then mouth should retire.
@@aparnabhardwaj8500 kya bol rehi ho in gore angrej ko
Lol just from the title you could tell this was going to be a fair and balanced report 🤣
Everything in the title is true and pretty balanced. Russia is getting around the EU embargo by selling outside the EU and those tankers are aging, they're tankers that professional shipping companies have stopped using so they're selling them dirt cheap. Same as semi trucks or taxi cabs they use their ships until they reach a certain usage level (age or distance traveled) where the costs to upkeep and repair them gets to be too much so they sell them cheap, meaning these ships are already getting to the point where major problems are likely to occur.
The EU has a minimal effect on Russia, and Russia knows why. Comparing the population of the EU is 450 million, aging and declining. With China and India's 3 billion and 4.7 billion Asians, which market would you invest in if your oil producer, Asia or the EU if you, had to choose one or the other?
China and india gdp is rising steadily too
It still damages Russia. The EU had to do that. I could not accept a genocide on its doorstept. I am surprised India doesn't care about. It just shows that colonialism is ok for most, if it doesn't happen to you. Tragic.
Do u think these countries would buy Rus oil at a higher price when EU gets it for cheaper?
@@facty_kit1742 Eu wont get it cheaper. Russia wont supply it to EU. China and India will. They will re sell us russian oil and gas AS THEY ARE ALREADY doing.
@@facty_kit1742 It's already cheapest in the market, which means they will sell more than they ever did, taking over stable and long-term contracts for the middle east, which may ultimately cause issues for the EU.
India Russia always 🇷🇺🇮🇳
nice. Clever and true at the same time. Now can you work Iran into that?
Both impoverished countries with little regard for life.
An ageing fleet of ships? Have you seen the Chinese, Bangladeshi and Indonesian fleet working the Indian and North Atlantic Oceans..Just recently retuned from East Africa, the locals are learning Chinese and Russian.. While "we" watch the UA situation, their mining Africa and the former French influence is gone. Many Hotels we use now have Russian /Chinese TV channels, where it use to be just BBC CNN and AJ+..F24..
Nobody is learning russian, since russia isn't a relevant country. Australia has a bigger nominal GDP, has more companies in the global 2000 and more investment abroad despite having over 6 time less population, if Australia is more influential than russia, imagine european countries that have bigger economies
@@diegovasquez7610 live in your delusional world buddy 😂
@@arshu916 so facts are delusional? It's not my fault that russia is so poor that an island with more kangaroos than people has a nominal gdp as big as russia's
@@slavicmelodies9614 it isn't, the metropolitan area of Los Angeles or Tokyo have a bigger GDP than russia, you can't be relevant and have a economy smaller than a city
@@diegovasquez7610 they are a defence and offence super power with 6000+ nukes
whats so unsafe about an old ship? its not like its going to sink for no reason just cause its old, maybe just a little less reliable but that's really it.
yeah, just a few of them will sink. a few more oil spills, who cares. the environment is overvalued anyways, I mean we will all die one day either way, right?
For one thing, diminished structural integrity due to metal fatigue brought about by decades of vibrations and stresses. Those ships can snap in half like a twig in rough weather when confronted with waves sa large as cathedrals.
Another is the main engine which could be problematic. A ship running at full speed, and suddenly the main engine fails, could have a momentum that will keep it moving for 5 kilometers before it fully stops. Only the engine run in reverse can act as a brake and if the engine malfunctions, there would be no hope of stopping the ship before a collision with anything from other ships, land mass, and shallow waters. That will then result in an oil spill, fire, or explosion.
The reason some do sink is exactly because they are old. Only a small problem normally. The real problem is the failure to deliver on time, fire at sea, oil spills, there are many things that can go very wrong without sinking. An old ship isn't usually a bad thing. It can be a disaster if not maintained. An oil terminal wants it product on time. Scheduling, futures prices, yada, yada. One major problem & whatever port will allow the russians in, will close quick.
Newer ships have hulls MADE IN CHINA. So Id say newer ships are no more seaworthy. They are built as cheaply as possible. Container ships for example are barely seaworthy.
What a pity for DW news, they hoped, she would say very dangerous the tankers can be broken and will never arrive
This is terrifying news. The ports and coastlines where these rust buckets travel will be at risk of crude oil spills.
Especially if one or nineteen of them mysteriously accidentally on purpose explode like Nord Stream did.
👺
Imagine if happened in the English channel, it would be hilarious
@@rubeng729 The Russians should do it on purpose. The costs of All Coastal European countries. You want CAPPED oil, Well here it is delivered to your beaches, free of charge.
Yeah that's true... And do you think Russia will pay for the cleanup?
Also it does of course invite just such an, erm, accident. Accidents can be arranged.
Blame western stupidity 🤣
Oil prices are already soaring highs if india and China stopped buying Russian oil.. There will be physical shortage of oil.... You won't be able to get a barrel even for $200.... Do you guys want that to happen?.
That seems to be exactly what they want.
Russian oil shouldn't be bought on moral and ethical grounds if not anything else.
You should always write I of India in capitals.
Better a rust bucket than no oil at all
i sure hope they don't intend to sail those rust buckets full of oil through Danish waters. That sounds like something we need to keep an eye on.
Shipping lanes are in international waters. Puttiin may sSunk one of them deliberately near oresung bridge.😃😃
@@mustafakhan6935 they deserve one two oil sinking incidents
If the danes don’t buy it there’s no reason for them to come. I guess Danemark has a very strict embargo,not like those others Europeans countries that continue to buy Russian oil through the back door and make a laughing stock of the rest of the world.
@@sapere7 u probably have 0 IQ !
About sea international trade routes
You probably from west ! Haha your education sucks lol ! Only drugs and shooting and early pregnent high school girls 💀💀💀
Pretty sure if there is missing isurance for potential disasters... i dunno but i wouldnt be shocked if they can be forced to stay out of even the economic zones if those who own them cannot afford a shipping disaster...
And while iam sure nobody used to check if tankers was insured or not, iam pretty sure everyone will have their eyes on these rust buckets🤣
Selling crude heavily discounted is a very bad strategy
Russia has no alternatives, the only ones willing to buy in the same quantities as Europe are China and India who know they have Russia over a barrel. India also got screwed on some military equipment deals recently and are increasingly unhappy with Russia in general and the war really made things tough on China as well, so neither of them will be interested in shouldering part of the burden just to help Russia out.
Nah we India help Russia to keep evil west and USA terrorist country out of Asia and for world peace
No more Rusty than our American Naval Fleet...
Sour grapes! US-EU price-cap plans fall flat. What next, Janet Yellen?
People who blew up a gas pipeline are suddenly anxious about the safety of oil transportation
Who blow it up?
@@lovelybitofbugle219 the ones who profit the most and who had the resources to do it
@@NTraveller So you have no idea...
@@CorporalCookie everybody knows. But nobody dares to mention you-know-who )))
CIA and US navy 😅
Well as long as those 'rust Bucket' go from A to B I dont see the problem. The only problem I see is western shipping and insurance companies will see less money in the drawer. 😂😂😂
as soon as Western Europe introduces a fixed price for any oil, they immediately say goodbye to these oil suppliers. That is, they will create all the conditions for an oil shortage. This means that countries will experience a shortage of energy resources. Alas ...Now the Europeans are watching how Russian oil is sailing to the other side of the world and, probably, they get special pleasure from all this. 🤑
See a lot of people noting China, so when it comes to exports to China, a significant amount of this transported by the ESPO pipeline 1.6 mb/d and another pipeline via Kazakhstan, so it's often not by tanker.
That’s a fraction of what has been sold to the West. So they would have to decrease the amount of pumped oil (besides having to provide huge price discounts bc of non-existing storage capacities) nothing you wanna do if you have to transfer it through an arctic climate area.
@@agn855 more pipelines are in the works. The London insurance business will go the way of the dodo bird.
Aging or not, they are insured that's the main point and they are supplying oil)))
Russia has to sell oil to China and India at below market discount prices. Less money for the same amount.
Then India's and China previous oil supplies before the war now are looking for new buyers.
But OPEC is literally using it as an excuse to cut production to bump up oil prices, plus Russian Ural exiting western markets drives up price of Brent. So yes, Russian Ural oil is selling to discount… to overpriced Brent because of the western sanctions. The only affect this has had is giving an advantage to China and India’s economy over the west, thereby making preserving US hegemony that much more difficult.
The previous sellers are not looking for new markets, they are already selling to Europe for high profits.
@@himanshusingh5214 Good for them... It's not that Europe cannot afford it.... But if it's really above $80 they could start delving it from the North Sea again takes a while to build though.
Если Россия ненадолго уйдёт с нефтяного рынка цены на нефть взлетят выше гор Памира. Русские, скорее всего, сократят продажу нефти, что бы цены выросли, им это выгодно, а покупатель на их недорогую нефть всегда найдется. Поэтому русские так спокойны. Их даже не берут никакие санкции. Россия оказалась гораздо сильнее, чем думал Запад, он Россию не просчитал, а теперь имеет у себя энергетический кризис. В России цена за 1 киловатт электричества в 100 раз ниже, чем в Европе.
@@ОльгаБоголепова-щ2л bollocks
Doesn't matter what u call them... They put a nail in price cap coffin.... don't worry
Yeah: "we have to leave it there now"... of course, because she didn't agree 🤣
She's a great guest. Her most important point...one not discussed...is that introducing the concept of a cap doesn't matter if the cap is provisionally at or higher than the price being paid by those nations getting the "friends and family discount".
Exactly. India & China really don't care. What they do care about is getting a good deal.
Because we have to think about almost 4 billion people ( China 1.4 billion and India 1. 3 billion) and we import more than 80 % of our oil and gas, previously most of it came from the middle East ( Saudi. Iraq. Iran. UAE) but now thanks to the west the Russians are undercutting the Arabs and it's a win win situation for countries like India & China. Japan and South Korea, the last 2 may bow down to western pressure, but the first 2 will NOT.
Someone already tried to damage a tanker with a drone a week or so ago... might want to keep that in mind
Maybe Ukraine can issue letters of marque to a double dozen somalis, micronesians, or myanmar rebels, Keep sinking the empty tankers until the Muscovites start sending escorts along with them. Raise the cost a bit.
@@peterrose5373 This is war, so I doubt they are always empty.
@@peterrose5373 what is 1t with the Russian hate ? Live your life and let the Russians live theirs
@@charlesekpima8210
I would've loved if the Russians had let my two friends live. But they brutally murdered them with an AA missile and then stole their wedding rings.
Quite frankly if you don't hate Russia at this point, something is wrong with your head.
@@nvelsen1975 so my hate or love of Russia should be base of what happened to your friend, so the people that died in irag Yemen Libya Donbass over the past years,who should they channel their hate to? Be sensible
My question is how did US convince lapdog olaf sholz that blowing nord stream was good for the german people?
A reminder...this is crude oil. Gas which Russia used to sell to EU, is in vapour form and can only be transport by pipeline. Currently Russia has no pipeline to India, SEA, and only 1 small pipeline to China.
Not to mention no facilities to liquify gas and no connections between their various fields. So even if they use special sekrit putin-magic to increase the capacity of those lines by 99999% they're still stuck because that's one field, to one small section of China with no connections.
And Beijing is pretty pissed with Putin for both the war and murdering Chinese citizens several times. This lead to the famous 'Wolf Warrior tweet', indicating Putin ignoring Beijing's call to respect their authority and respect Chinese citizens, is seen as a loss of face in Beijing.
Pretty dangerous place for Putin to be in if you consider the domestic pressure on Xi Jinping means he could do with a foreign distraction like "Look at what these evil Russians have done to our noble citizens who were staying in Ukraine"
China have already 2 pipe lines and gas pipes
EU should change there name to "LAPDOG OF USA"
Moral of the story is Energy can be sold anywhere in the world
Barrel is just a fluff word for news readers to sound knowledgeable while they don't even know how much is in a barrel.
And I can never take someone serious if they use OS X and leave the dock completely default, 15% of your screen estate poof gone and unusable!
It just shows me how much effort someone put in anything, not a lot I can tell you from experience ;)
mRnJ-@s,As\0z%eJNiqn`ud4 D~
Its a unit of measurement…
50gallons
What about the Russian oil being refined in Italy ?
It's worse than that. Russia dumps barrels of oil in international water off the coast of Greece, Greek companies pick it up and bring it back. It puts the whole thing into a legal grey zone where they aren't technically violating sanctions.
old line, will not last
Russian oil coming through Hungarian pipeline to Germany isn't old right,!
@@AahFukIt Belgium buying Russian diamonds at same pace ???????
@@AahFukIt Americans and Europeans buying nuclear fuel from Russia?
Any idea how you will pump that oil on whatever rusty ship if you haven’t had the equipment to handle that new/extra capacity already in place? And building that site, while being under sanctions, in an arctic environment, in the winter. Priceless.
To heck with Russia.
You're saying that the Russian oil tankers aren't shiney? Don't have new paint? Serious, serious stuff. A major problem for Russia.
All that is happening is Russia is shipping it's Oil to China, Turkey and China. They will refine it, sell it back to Europe at a massive profit. The Price Cap policy is insane.
How tf are you supposed to make massive profit on 30% discount while having to freight it around the world just to refine it?
@@TheSteinbitt Because after you refine it, it's not "russian" anymore. Ask indians. Their massive refine industry is happy to exploit stupidity of european population. (Not stupidity of european leaders, they know exactly what they are doing)
China and India are only interested because Russia agreed to sell to them at a bargain basement rate. Refining and selling on is risky because those countries will then be targetted for secondary sanctions. So sure, they're going to take advantage of the cheap oil bonanza whilst Russia keeps the sale price on, but they aren't going to push their luck or it'd work out uneconomical.
In the meantime Russia loses the market of an entire continent, and is locked into selling its oil to Asia far below market rates. Either way, it's a win for western interests.
That is what Russia has been doing already over the past few months and that is why they amassed so many billions in oil revenues
@@normthom123 But less then they otherwise would have. Much less. Even if other countries sell this on, it’s good course it lowers oil prices and Russia won’t cap prices through opec because they really need volume at those prices.
Only a matter of time before one of these cheaply crews rust buckets either simply breaks up from the load or hits something and ends up spilling oil.
Yesterday these same tankers where just fine when they where friends with Russia now they suddenly called "Rust buckets".
Yup.😂😂😂
"Europe problems are world problems, but world Problems are not Europe problems ",-
Dr.S.Jaishankar
I guess that explains why Europe never caught COVID, didnt get hurt by the great recession, arent being effected by climate change, didnt face shortages or increased costs from China shutting down due to zero COVID policies, and didnt get impacted by Russia invading Ukraine.
We are not stopping the Russian tankers docking offseas with north Korean ships. The ships look Chinese, but are not ..
These crude get refined in Asian refineries and get sold to European markets.
The only reason the EU bought russian oil and gas is because shipping via pipeline from Russia was cheaper than bringing it in by ship one way from the Gulf or the Americas, not because Russia is the worlds only source of oil. It makes zero sense to ship oil all the way from Russia to Asia (a great distance than Gulf to Europe) and then ship it aaaaallllll the way back to Europe (passing through the Suez canal a second time, which alone is almost as much as the shipping costs). The US is already producing a ton and has ships lining up to offload to Europe, they have zero reason to spend more money just for the sake of helping Russia out when there are numerous other, cheaper sources.
Shadow fleet of rust buckets? That is their navy. 😢
It's Europe that will pay the extra costs. Yes, Russia will incur higher costs getting the oil to India, but India will make sure the selling price of "Indian" oil to Europe will cover Russia's higher costs AND India as the middleman. Europe will lose out, not Russia. EU leaders have no grasp of basic economics, but just love to whine about old ships on the ocean.
Western governments don't have any issues in sale of Russian oil, they just want the oil to be sold with razor thin profit margins or at loss. That's why price cap.
Think again. EU and G7 stops buying Russian oil. That means they have to sell more to everyone else (who actually buys it) at the lower price. Which means they have to pump a lot more to get any sort of profits. That then leaves everyone else who sells oil with a much smaller market, to get anything over the price cap. Less costumers with more producers means lower prices for everyone.
No Duncan. This the last year that Russia can threaten Europe.
@@ionnanskilliorus6877 so why is crude oil 23% more expensive then this time last year
Don't forget Turkey.
EU will be paying a fortune for Russian oil/Gas via Erdagon
Moral of the story gradually Russia making market except Europe.😂
No OPEC+ nation will agree to a price cap, period. If that's allowed, what will be next, tomatoes, potatoes, avocado.
Price cap on Vodka
Oil market is fluid. The Middle East will give more to Europe and Russia will give more to Asia now. The deal is made already in May inside OPEC .....Awake guys. The same output of oil will be and will be even at more high price due to transportation cost now. So at the end the end users pay more not the oil producers lost. Stay tune !
I does not matter if it is a rust tanker or new one, what is important is the cargo they are carring. Assian countries are not realy buying that much oil due to their local needs rather they are buying to sell it to EU at double the price who refused to buy it from russia directly. Anyway before russia was the only party who was benefiting gas and oil business in EU, but now Asia is alsoprofiting this business too
There is a way to test where it comes from
Double the price? Are you slow? Brent is 80$, Russian crude is 60, why tf would anyone buy oil at 120$??
@@TheSteinbitt He used "double the price" a figure of speech, chill..
Here is the kicker. No insurance companies will sell policy to these ships. Can you imagine shipping hundred million dollars worth of goods with no insurance.
Maybe it is time to bar access to EU waters?
An oil spill from these aging tankers seems inevitable.
Tankers are still permitted to use international waters, Russia wont be using EU territorial waters
Agree! We should not wait for this to happen.
Those aren't your waters they are international waters
@@Omega0850 u can't according to international waters law !
And Putin probably gonna intensionally spill some oil in your eyes ! 😆
great, old "rust bucket" tankers - seems like a recipe for oil spills...
As I understand, there is an insurance-ban on russian vessels as part of the sanctions. Does this imply that those ships will be sailing uninsured?
От русских можно ожидать чего угодно! Русские привыкли и даже любят рисковать, для них это норма жизни. Поскольку у Запада нет возможности влиять на Россию, т.к. она вышла почти из всех западноевропейских организаций, то принудить Россию оплачивать мероприятия по устранению аварий не получится. 🤦♀️
It has its own insurers
As far as I read there is no ban on insuring russian tankers as long as the price per Barrel of the transported oil is below 60$
Western companies can’t insure. But this not mean other counties as china or Russia they are not allow to insure. Of corse they can insure. The Russians build up a special insurance company where many county’s use it even since 6 years ago. The Chinese have 3 big insurance company for shipping industry. So the ban on insurance is equal to zero. They an make only lost to this Insurance company in the west. The Greeks lose a lot on this game ! The British as well they lost 10% of the shipping capacity insurance already. Wait and see things will change very fast next year ! More and more shipping company will use te Chinese insurance groups ! Is just about reticence if paper work now. But things will change in future
No need to insult the tanker, Poor guys just a worker trying to feed his family.
Insurance policies of these second hand tankers will be a problem in addition to the massive pollution associated with them . I still don't understand the miscalculations of Putin , as it is obvious he wrongly assumed that Ukraine will capitulate in few days or weeks and the West is too weak and divided to make a tough stand .
Yeah but now hes in too deep. Really interested in seeing how this will end but I don't see any positive future for Putin even if he wins by his own conditions now, the damage to Russia has been dealt.
Bringing us back into the 19 hundreds was such a great plan by putler... (sarcasm off)
I will simplify it for you the Russians have been loosing power since the downfall of the Soviet Union there trying to reconquest/influence all Slavic & Central Asian countries because of Nato and other rising powers they have to move fast or they will collapse n the country will be fall
CIA troll puppet, Ukraine is surrounded since March in Estambul negotiations between Russia and Ukraine, but the US and puppets Europeans plus NATO , is the reason why this conflict still up until today
Whenever i thought about Russian maritime, i only think about rusty fishing boats/ships
Ofc might be a missconception, doubt there is any diffrence with Russian sailors on a tanker
I doubt pulling a big fleet of rusty tankers in service will be a benefit in the long run, all it will be is some enormous oil spill, and India will plead for money to clean it up or something
@@baltazarfloresjr7137you not going to live to see colapse of Russia 🇷🇺 anyway keep watching western TV Russophobic documentary’s
OPEC+ will not accept sucha amove infact they are even discussing about reducing the production of oil output per day,EU and US is screwed
The so called west just jealous of those countries that benefit front Russians cheaper oil and gas 😂😂😂😂😂😂😂😂😂
America boutta charge em real good😂😂😂😂😂
Russia is earning more money now than before the war 😳
Shipbuilding peaked like 100 years ago. So I wouldn't worry too much about having the newest.
Yeah but rust is like a cancer. It needs to be removed or it just eats through
Not so. Most tankers ,and large cargo ships are not used after thirty years. They are not safe after that. So ships are built to replace them...
They get it done.
Germany has how many tankers 2?
Well, to be fair Germany doesn't have oil or gas. They just leach off other countries for power. They have some windmills, though, I hear.
4 of the biggest oil tankers fleet are from the EU and 2 are greek by the way. (the 2nd 3th 4th and 6th biggest fleet)
@@alganis3339 rent them to Russia.. Germany is buying Russian gas anyway.
And owes Greeks a lot of money from what they did during WW2 .
שלום
Good news for us asian..low cost oil means good for our economy..thanks Russia.👍 ...why EU is so salty????
EU just doing EU things😂😂😂
Price cap needs to be lower then? You cut off her conclusion? Should it be 1$? 47$? Why did the G7 pick 60 then???
Amazing how relentlessly Europe continues to shoot itself in the foot. Europe’s loss is Asia’s gain. Hope you guys are prepared to struggle a lot the next few years.
Missing the main question here: why do they need to buy aging tankers?
To by pass the embargo
exactly some people are so bias that it makes them say shiz that make no sense😁😆
Cheapest assets to buy and lose less if they end up confiscated. New VLCC costs around 100million dollars second hand q0 years or more around 30% of that price
Can russia export oil through the north-south corridor that goes through iran to india?
Yes they can , if you look the map where is Russia and iran , there Caspian sea and USA or nato doesn't have access there or any rights to get there
@@TheMadara05 Well they could in theory, except for the problem that there is no such corridor.
@@oldbloke135 yes there is, it passes through arzebaijan. Is a train corridor, it goes to a port city in iran that connects with a port city in india (mumbai I think). Is in trials phase right now
@@rubeng729 shipping things by rail costs more than by sea and cant ship in bulk as efficiently. Also cant be offloaded as efficiently as you have to fill and empty each car individually. This is part of why the US was importing small amounts of oil from Russia, it was cheaper to ship by sea clear across the Pacific rather than bringing it by rail from Texas to California.
they need to look at available storage of the buyers.
Great… used tankers that can cause huge oil spills
И русские платить за аварии не будут, так как они вышли почти из всех западноевропейских организаций. И ещё они обижены за взрыв их трубы в Северном потоке. Авария с танкером будет проблемой той страны, около которой случится катастрофа.
Now i selected whear i given eny Russias oil by tanger too
Europe watches with desperation as Russia comes out of all the sanctions with flying colors.
😂
Indonesia has no capacity to refine medium-heavy crude oil type
Shipping the oil is one thing storing it is another. The tankers can be used but unless they can unload they can't do the next trip so after the surge of cheap oil the amount of oil that can be exported. will drop. Next is demand it will take a long time for China and India to increase the demand.
Next are secondary sanctions.
West:"You're buying oil from Russia? Welcome on our new "Supporter’s of a terrorist state"-sanction list."
Oh, Price cap!
India/China: "How many you wanna charge us while you’re only getting 60$ from the West?" Russia: "As much as possible!"
India/China: "60.001$. Deal. You’re welcome."
Russia: "WTF…?!"
India/China: "Well, you can store it. Oh okay, you can’t. What about drinking it?"
@@agn855 have you been drinking?
@@jontyfernandez5146 certainly cheap stuff
wow...so I guess you work on the docks in china? and inspected all the tankers nice job to have....lol
@@leesun1104 No doubt every shipping movement is observed by satellite or simply by ships tracking programmes that you can see all vessels with their transponders switched on. It is not rocket science to follow ship movements.
This show also said Ukraine was storming the Kremlin. Can that be true?🤣🤣🤣
Who is going to pay the huge insurance costs that the Asian ports will demand before accepting these "rust buckets" certainly no one in the west; or anyone that wants to avoid secondary sanctions, that rules out the vast majority of insurance companies capable of carrying such a risk.
Putin's word of honor that nothing will happen. Who would distrust a lying fascist klepto dictator….🤣
The insurance is provided by a western group made up of 2 UK companies, a Norwegian company, a US company and a Japanese company and no insurance will be provided on ships transporting Russian oil sold for 1 penny over $60 a barrel anywhere on Earth. Now you say "can't they just insure them domestically?" Sure they can, but an oil disaster can cost 100s of billions of buckeroos to clean up which is why risk is spread across the industry on a global scale, one oil spill would bankrupt most countries on Earth via the liability so in short, Russia is heading for a fall one way or another, sooner or later.
@@darthwiizius Russia can "insure" the ships. They just won't pay out in the event of a disaster. You can only become an international pariah once, and they've already done that. It's like a serial killer worrying about a parking ticket.
@@oldbloke135
When the first spill occurs and Russia can neither underwrite the liability or respond to mitigate it in real time they will lose most if not all the markets they ship to as those countries watch the country polluted economically collapse under the burden of having to deal with the consequences alone. This is why oil tanker insurance is organised through spreading the risk costs globally, most nations do not have the capacity financially or technically to deal with such a situation, the only nations outside some western nations (US, UK, Scandinavia, France, Netherlands off the top of my head) are China and Japan, and even then I'm not convinced that China has the maritime experience to do so effectively.
@@darthwiizius by the history books
Most of oil spills have happened in
Or near EU and US. Priority for asian
Countries is to get cheaper oil from
Wherever possible. Even if oil
Soill happen Asian countries are least
Bothered as human live value is
Negligible compared to west.standards.
Oil spill theory is a propoganda tool
Spread by global marine insurance
Companies.let these rusty bucket
Transport oil and we will have to see
If there's any oil spill taking place.
Every one here is talking as if insured
Tankers never cause oil spill..
I'm just thinking about an uninsured Russian tanker breaking up off India and spilling millions of gallons of oil.
Costing India 80 billion Rupees in lost fishing revenues the first year, along with other costs to tourism, and the effects on health, quality of life, etc.
Dream more ✌🏻
Good 2 know. Very informative. Thanks.❤