The Wall Street Journal reported that Europe is buying a "linguistic mix" while US traders are hiding the origin of the fuel.
According to data from The Wall Street Journal, in the US states of New York and New Jersey, despite the ban on Russian energy imports, tankers are said to still come here carrying fuel made from Russian raw materials. Ship traveling through the Suez Canal and the Atlantic with products from Indian refineries has become a major buyer for Russian oil and gas.
Europe has also found a way to get fuel from Russia, in order to avoid its own sanctions. According to Bloomberg, EU countries buy what is called a linguan mixture, which includes approximately 50% of Russian oil.
The country that benefits particularly in this situation is India - which has purchased more than 62.5 million barrels of oil from Russia since February, three times more than in the same period last year. At the same time, since the beginning of spring, fuel supply from India to Europe has increased by 30% and to the US increased by 43%. Buying oil from Russia at a 20% discount, New Delhi has made a good profit when supplying oil to Brussels and Washington.
In the current situation, Russia has not suffered any losses - oil needs to be sold to avoid having to reduce production. In addition, in the context of soaring oil prices, Moscow's oil export revenue has increased by one and a half times.
"Current oil prices are so high that Russia can allow it to both enjoy discount incentives and avoid export sanctions. In addition, prices will continue to increase. First of all, it is due to a serious shortage of oil tankers. Where can the West buy oil now: Latin America, Africa or the Middle East? However, oil from these areas is only exported by sea, contained in specialized ships. Now, boat rental prices have risen by 50%, a record for the past ten years," independent industrialist Leonid Khazanov told Sputnik.
In the view of some experts, supply from India could also be at risk as the West imposes sanctions against Russian crude oil products. However, tracing the traces of Russia in the fuel will be very complicated and difficult according to Khazanov.
On March 23, Russian President Vladimir Putin announced the application of a ruble payment mechanism for gas purchases to EU countries and those that have applied sanctions against Russia. The Russian president signed a corresponding decree, stating that if "unfriendly" countries do not pay in rubles from April 1, Russia will consider it a non-compliance with the contract and cut off gas.
