28 days Warning..! Is this the desire of Russia..?!

Russia, which controls the economic growth of the world, has restricted the production and supply of crude oil and has blocked the growth of the entire european market. This is only because of the decision taken by europe and the world against russia to reduce the price of Russian crude oil and stop its supply. Russia's crude oil sent by sea is going to be stopped altogether. In this situation, who is going to decide whether europe needs more crude oil..? Is the european union going to be in big trouble..?
The european union bought about 220 million barrels of diesel fuel from russia last year alone, according to data from crude oil trading and transportation firm Vortexa. It is based on this that all the fuel distribution in the european union was done for cars, trucks, ships, construction, and equipment manufacturing. In this situation, if the european union has to buy the crude oil it buys from russia from other countries, it has to buy about 14,000 Olympic-sized swimming pools of diesel. If this is possible in the current situation of the world countries, it must be difficult. For several decades, the european union has been stuck in a situation where it has only relied on Russia. Even after the start of the Russia-Ukraine war, the european union has imported almost 50 percent of crude oil and gas from Russia. Even in January, the european union imported 1.7 million barrels of crude oil per day, of which only 0.7 million barrels came from Russia.While russia is the main supplier of oil to europe as a whole, russia is followed by saudi arabia, india, the USA, UAE, and smaller oil-producing countries. But how will europe cope if 50% of Russia's oil is cut off after 3 weeks? It is no exaggeration to say that important changes in Europe's oil imports have already taken place.By 2021, more than half of all seaborne exports to the EU and the UK will come from embargoed Russia. This ratio has come down to around 40% in december last year. saudi arabia and india are currently filling the gap of Russia. But even if saudi arabia and india unite, they are not in a position to compensate Russia. Thus, if the european union does not come to an amicable decision with russia, it will face a major problem in fuel shortage after 28 days. For example, europe can change like pakistan is currently struggling to get fuel due to a lack of adequate financial position.In february 2022, when the Russia-Ukraine war began, Russian President Vladimir Putin approved a roughly 40 percent discount on crude oil to India. It is estimated that the government of india has saved more than 35000 crore rupees through this discount. It is at this stage that india has started exporting diesel raw materials from crude oil to russia to Europe. india and china are currently compensating for the trade lost by the Russian government to europe by supplying excess crude oil.All the countries supporting ukraine, especially the european countries, G7 countries, and Australia, imposed a price limit of 60 dollars on crude oil in december to freeze Russia's financial position. That means that all countries supporting ukraine if they buy crude oil from russia will be 60 dollars. It has been determined that only Otherwise the purchase will be banned and insurance and shipping will be disabled.

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warning

Sowmiya Sriram

14/01/2023 02:35 PM