Espreso. Global

Germany continues to import Russian oil through India

12 September, 2023 Tuesday
16:54

According to Germany's Federal Statistical Office, the country is still receiving a significant amount of Russian oil via an indirect route – through India

This information was reported by DER SPIEGEL.

From January to July this year, Germany's imports of oil products from India have surged, increasing twelvefold compared to the same period last year, as confirmed by authorities in Wiesbaden. It's worth noting that India is a substantial consumer of Russian crude oil.

The oil acquired from India primarily consists of gas oil, which is a crucial component in the production of diesel fuel and fuel oil. This gas oil is derived from the crude oil that India has been procuring in large quantities from Russia since the outset of the full-scale war.

It's worth mentioning that Germany had previously halted direct imports of oil from Russia. Additionally, Western nations have been attempting to influence the pricing of Russian oil on the international market by exerting pressure on shipping and insurance companies. However, according to journalists, this strategy has not yielded the desired results.

Russian oil: Production cuts and sanctions

OPEC+ is an informal group that includes countries from the International Organization of Petroleum Exporting Countries (OPEC), led by Saudi Arabia, and several OPEC member states, including Russia.

As of December 5, 2022, the embargo on Russian oil exports to the European Union officially took effect. Russian oil can now only be purchased at prices not exceeding $60 per barrel.

In March 2023, Russia committed to reducing its daily oil production by 500,000 barrels.

By April, all OPEC+ members had announced a collective cut in oil production of approximately 1.15 million barrels per day.

However, in May, Russian crude oil exports to global markets did not show any significant reduction in production as per Russia's earlier announcement.

On June 5, it was reported that Russia plans to reduce oil production in 2024.

In August, India, the world's third-largest oil consumer, decreased its oil imports from Russia to 1.57 million barrels per day, a 24 percent drop from the previous month and the lowest since January.

Acting Assistant Secretary of the US Treasury Eric Van Nostrand announced on September 4 that the price limit on Russian oil was still in effect and was reducing Moscow's income.

On September 6, Reuters, citing its sources, reported that the Group of Seven (G7) nations and their allies had postponed their regular review of the price ceiling for Russian oil, despite most of it trading above the limit due to the global rise in oil prices.
 

Tags:
Read also:
  • News
2024, Sunday
3 March
21:44
Exclusive
Russia considers Georgia its region - Ukrainian National Guard Reserve Major Hetman on new threats
21:15
New Russian Special Forces intensify search for Ukrainian underground in occupied territories
20:45
Russian forces bomb Kurakhove, wounding 16 civilians
20:14
OPINION
How genocide continues
19:42
Russian forces deploy chemical munitions 9 times in Tavria area in 24 hours
19:14
Russian disinformation: Debunking claims about Ukrainian civil servants' pre-offensive "evacuation" from Kherson
18:47
Interview
Radio Liberty CEO Steve Сapus on freedom of speech in Ukraine and how journalism can survive in post-truth era
18:16
Ukraine to use artificial intelligence in demining efforts
17:43
Updated
Russian drone attack on Odesa kills 10, including three children
17:16
Russia suffers record daily losses in February: British intelligence on implications
16:43
Avdiivka front stabilizes amid local successes for Russia
16:14
Interview
Ukraine, Russia face critical moment on frontline — Colonel Grant
15:45
Government allocates UAH 1.3 billion for Zaporizhzhia direction fortifications
15:16
OPINION
There are quite enough Chamberlains and Deladiers today
14:46
Exclusive
Why Russia is doubling down on Avdiivka direction: Analysis by military expert Popovych
14:15
Exclusive
Map of fighting in Bakhmut sector
Defending Chasiv Yar: Ukrainian Armed Forces take measures to thwart Russian capture
13:45
Russia claims it repelled drone attack, downing 38 drones over Crimea
13:17
Russia risks losing aircraft to advance in Avdiivka – ISW report
12:47
Ukraine braces for new Kremlin disinformation campaign against Zelenskyy - Bloomberg
11:56
Interview
Chances that Biden administration will agree with Macron's statements are zero — Ambassador Bolton
11:26
Russia loses aircraft, 35 artillery systems, and 1,160 soldiers in one day – General Staff
10:56
Russian troops attack Myrnohrad with missiles at night, killing civilians
2024, Saturday
2 March
20:30
Aircraft carrier for drones to be built in Black Sea by Portugal’s request
20:11
Exclusive
Putin breaks golden rule of intelligence: expert on publication of Bundeswehr talks about Taurus strike on Crimea bridge
19:55
Exclusive
Crimea bridge is primary strategic target to be destroyed - British Colonel Grant
19:39
Ukraine shoots down another Russian Su-34 fighter jet
19:24
Ukrainian army targets 336 Russian soldiers and 258 UAVs in Tavria sector
19:06
Russia signals readiness to hand over bodies of POWs from IL-76: Ukrainian military intelligence responds
18:26
"Better give Ukraine weapons than send troops" - Polish Defense Minister
17:58
Exclusive
Kremlin played it safe with its main opponent - Feygin on Navalny's murder
17:30
Exclusive
Putin perceives West as very weak — British Colonel Grant
16:56
Bedbugs in Paris: Russian agents spread panic, link it to Ukrainian refugees
16:29
Exclusive
Russia sends battalion for assaults every day - Ukrainian military on fighting in Kreminna sector
16:00
Substation supplying three defense plants explodes in Yekaterinburg, Russia
15:47
Updated
Russian drones attack Kharkiv and Odesa, killing at least 5, including child
15:35
Russia announces test of Yars ballistic missile to scare West, force it to cut Ukraine aid - ISW
15:02
Exclusive
Operation on Tendra Spit, where Ukrainian spec ops soldiers died, had no strategic or tactical value - Major General Kryvonos
14:33
Review
Map of fighting in Bakhmut sector
NATO in Ukraine. Repulsing attacks in Zaporizhzhia region, situation in Avdiivka. Weekly military results 
13:55
Review
Ukraine’s demographic apocalypse: millions of refugees, war losses and how to address population challenges
13:23
"A lot depends on commander": Syrskyi explains why some AFU brigades fail to hold line
More news