New black smoke on European embargo on Russian oil. “Today, unfortunately, it was not possible to reach an agreement on the sixth package of sanctions, on the oil embargo, and he will return to Coreper for further negotiations,” said the EU’s High Representative for Foreign Policy. Joseph Borrell. “I can’t believe the sixth sanctions package will be approved without the oil embargo, the question now is when will it be approved. We are disappointed that it has not been adopted but it is up to the European Union to deal with the Hungarian authorities as this is a family matter. That’s what the foreign minister said Dmytro Kuleba in Brussels, on the occasion of the EU Council on Foreign Affairs. The oil embargo is openly opposed by Hungary, but also viewed with dissatisfaction by other European countries heavily dependent on Russian crude. Russia is the third largest producer of crude oil in the world after the United States and Saudi Arabia and is putting it on the market every day 10 million barrels. At current prices, goods worth approx 1 billion dollars. The EU Commission also published the information on this today gas payment Adoption of the system requested by Moscow, giving the green light to European customers to proceed.
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Russia posted its highest-ever trade surplus in the first 4 months of 2022, thanks largely to record revenues from sales of oil and gas. Between January and April the trade surplus (difference between the value of exports and imports) has reached i $95.8 billion, nearly quadrupling from $27.5 billion a year ago and well above the $58.2 billion estimated by analysts. Today, about fifty countries in the world continue to buy Russian oil and refined products and pay more than that $120 billion a year. The first customers are China ($33 billion), the Netherlands ($21 billion), Germany ($8.5 billion), Poland ($6.4 billion) and Italy (6 billion). The gas receipts before the tide goes up, they stopped at about twenty billion dollars a year, with Italy at the top of the shopping value list.
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