Because of the EU oil embargo, Russia will lose about $ 22 billion a year, Bloomberg calculated.
Russia will lose billions of dollars in revenue due to the imposition of the EU oil embargo. Russia’s losses were estimated by Bloomberg.
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The ban covers oil supplies by sea, which make up nearly two-thirds of Russia’s imports. These losses of the Russian Federation are estimated at 10 billion dollars.
This is because the ban would force Russia to sell its oil at a discount in Asia, where a barrel of Urals already sells at a $ 34 discount compared to a barrel of Brent.
And the cessation of supplies to the northern branch of the Druzhba oil pipeline to Poland and Germany would cost another $ 12 billion.
At the same time, the EU decided to abandon imports through the Druzhba oil pipeline, on which Hungary depends. Russia will continue to earn approximately $ 6 billion on this route.
Recall that on the eve of the EU leaders reached a compromise on the issue of a ban on Russian oil imports. The embargo will affect 90% of all Russia’s oil imports by the end of this year.
The remaining 10 or 11% goes to the southern branch of the Druzhba pipeline in Hungary, Slovakia and the Czech Republic. There is a temporary exemption for these countries.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.