Oil supply from the Russian Federation to Northern Europe decreased by 90% since February

Two weeks before the entry into force of sanctions against Russian oil, its supply to the countries of Northern Europe decreased by 90 percent compared to February - from one million two thousand barrels per day to 95 thousand barrels. This is written by Bloomberg.

The only European direction of sea transportation outside the Mediterranean and Black Sea basins remained Rotterdam, the agency notes.

Such countries as Lithuania, France and Germany stopped the import of Russian oil a few months ago. In September, Poland joined them. Three quarters of oil loaded in the Baltic ports are now sent to Asia. India purchases oil using the so -called preferential period. The United States and Great Britain previously stated that they would free oil from sanctions, which will be loaded into tankers before the restrictions on December 5 entered into force, provided that it will be delivered until January 19.

According to the counting of the agency, the total supply of supplies from Russia fell to 2.57 million barrels per day - this is a nine -week minimum. According to Bloomberg, Russia's income from oil trade has decreased to the lowest level from the beginning of January. Deliveries to China, India and Turkey grew to a record 2.45 million barrels per day.

In October, Russia became the largest oil supplier to India - almost one million barrels per day. In early November, Reuters said that Indian oil refineries have not yet posted applications for the import of raw materials from Russia, since they are “expected to clarify” the price limiting mechanism.

• According to the eighth package of sanctions, adopted in response to the Russian invasion of Ukraine, on December 5, an embargo for sea supplies of oil from Russia to the countries of the European Union, USA, Canada and Japan will enter into force. It will also be forbidden to insure and unload Russian oil in the ports of other countries, if the price of it exceeds the permissible - the so -called price ceiling , which has not yet been set, but is planned at 63–64 dollars per barrel. This will reduce Russia's income from energy, but at the same time will provide profitable production.
• The Kremlin has already stated that it would not sell oil at unprofitable prices and does not exclude a reduction in production.