Replacing Russian oil may be easier than blocking natural gas. But the risk is a further global rise in energy prices. the sky wall
The European Commission’s proposal to block imports of Russian oil, if confirmed by member states, could cause significant damage to the Russian economy. Contrary to popular belief, oil represents a much higher income for Moscow than natural gas. Moscow has brought in nearly $180 billion since the first (including related refined products, such as diesel and plastic) last year, according to data from the Russian Ministry of Economy. While natural gas revenues were about a third. Figures that will vary upwards this year, but should remain virtually unchanged in proportion.
Because Brussels wants to start with oil
At the same time, it is easier for Brussels to replace Russian oil than to achieve the same result with gas. Crude oil is mainly transported by ship and not through gas pipelines, which inevitably limits the flexibility of trade.
Source: TG 24 Sky
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