There is simply no alternative to Russian oil for European markets, but the embargo can be seen by the EU as a powerful lever of pressure on Russia.
Igor Galaktionov, an expert in the field of economics and stock markets, said that there will be no alternative energy suppliers to European markets in the near future either.
The introduction of a ban on the import of Russian energy resources, no doubt, can be used as political blackmail, but such a turn still will not do without sacrifices for Europe, the analyst warns.
The political nature of such a strategy will make its adoption inevitable. Europe will suffer much more than Russia, Galaktionov is sure.
“The volume of oil supplies from the Russian Federation to the EU member states is high and amounts to about 25%. The import of diesel fuel is approaching 70%,” the expert noted.
If such a measure is dangerous for Europe, then for Asian countries – the territories of the Persian Gulf, India and China – on the contrary, it is extremely favorable. The former have a good prospect of making a profit from the supply of Russian oil at a higher price, while the latter have the opportunity to receive “black gold” from the Russian Federation at low prices.
According to Galaktionov, the export of Russian oil is the starting point for the functioning of a complex system of export logistics, transport infrastructure and human resources.
In this regard, the possibility of radical changes due to the oil embargo is reduced to zero.
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