Russian fuel export rises despite Western sanctions

Washington/ Moscow: After the start of the Russia-Ukraine conflict, the United States and the alliance of European countries made plans to destroy the fuel sector, the backbone of the Russian economy. But despite the sanctions imposed on Russian fuel companies and banks and pressure on countries that buy Russian fuel, the demand for Russian fuel has remained the same. The American website ‘Bloomberg’ reported that Russia exported an average of 3.6 million barrels per day last week.

Moreover, some allies, including the G-7 group, which is part of the anti-Russian alliance, have approved a proposal to cap Russian fuel tariffs. It is said that its implementation will start in December. Under this, foreign companies providing insurance and other services to Russian fuel companies will also be fined. Against this background, many companies have increased the purchase of Russian oil in large quantities.

In the week that ended on November 4, it was revealed that 34 tankers carrying 2.5 million barrels of crude oil from Russia left for foreign supply. Besides, compared to the previous week, the volume of Russian oil has increased by 32 million barrels, Bloomberg reported. Most tankers are reported to be from terminals in Russia’s Arctic region. A few days ago, it was revealed that the export of fuel gas from Russia is moving towards a record level. From this successive information, it is clear that the western alliance has failed to break Russia’s dominance in the fuel sector.