How Saudi Arabia And Russia Are DESTROYING The UK And US Economies

How Saudi Arabia And Russia Are DESTROYING The UK And US Economies #oil #gas #energy The oil trade market has seen a recent shift that’s benefitting Russia’s Middle Eastern allies in the OPEC . Saudi Arabia and the UAE are now taking advantage of discounted prices on Russia’s fuels due to Western markets being closed off to Russia’s crude and products. As a result, new trade routes have appeared, and these countries with some of the largest oil reserves are importing Russian diesel and fuel oil. And tanker-tracking and data commodity services have confirmed this shift in the trade market. If You Like This Video; Like, Share, Comment And Subscribe. This Means A lot To Us! Thanks For Watching Our Video; How Saudi Arabia And Russia Are DESTROYING The UK And US Economies Saudi Arabia and the UAE, who have been close Middle Eastern friends of the US, are still buying, keeping, selling, and sending out Russian fuels. This is happening even though the US has asked them to help stop Russia from getting around the Western sanctions that have been placed on its oil. Western nations announced embargoes and price limits on Russia’s oil and oil products. As a result, there has been a shift in oil trade away from Russia, with the Middle East becoming a major trading center. Kpler data cited by The Wall Street Journal shows that Russia’s oil exports to the UAE reached an all-time high of 60 million barrels in 2022, triple the amount of the previous year. Fujairah, the UAE’s largest trading hub, is now receiving a lot of Russian oil products. And according to estimates from Argus Media, Russian oil products are now second only to gas oil from Saudi Arabia in terms of volume. In addition, the UAE is becoming a center for exchanging, covering, and transporting Russian oil. Russia is now sending fuels to Saudi Arabia, which is the world’s top crude oil exporter and leader of OPEC. They are both leaders of OPEC and non-OPEC producers in the OPEC alliance. This alliance has been coordinating crude oil supply for over six years. Kpler estimates that Russia is now sending around 100,000 barrels per day of fuel to Saudi Arabia, which is a significant increase compared to before the Russian invasion of Ukraine. In addition, it looks like Russia is stepping up the pace of diesel exports to Saudi Arabia. They’re doing this by sending it directly or by transferring it from one ship to another. Russia began exporting diesel to Saudi Arabia in February because the EU stopped importing Russian oil products via sea on February 5. Russia is making shorter routes for tankers going to Africa and Asia since the EU has banned them from exporting fuel to their countries. The EU ban began on February 5 and forced Russia to look for new buyers for their diesel, naphtha, and other fuels. If Moscow wanted to continue earning money from these products, it had to find a new place to sell them. Price caps also regulate the flow of Russian fuels to other countries, just like the cap on Russian crude. The cap on Russian diesel is $100 per barrel, while the cap on lower-cost petroleum products is set at $45 a barrel. The Head of APAC Analysis at Vortexa, Serena Huang, says that as Russia reorganizes its oil industry, specific trading patterns are becoming more established. India and China are Russia’s top strategic trading partners, each accounting for one-third of the total Russian oil arrivals in March. When looking at other markets for Russian oil after the EU ban, Huang notes that crude, naphtha, and fuel oil exports are mostly going to a few countries in Asia and the Middle East. However, diesel supplies are being sent to various countries, including Saudi Arabia, Turkey, and Brazil. In March, there was a big increase of 33% in Russian diesel exports. They sent the diesel from their Black Sea ports to places like Libya, Egypt, and Tunisia in the East and West Mediterranean regions. The diesel exports from Baltic Sea ports have also changed. They have spread out pretty evenly to countries like Brazil, Saudi Arabia, Egypt, and Morocco. Furthermore, the United States has been unable to convince Saudi Arabia and the United Arab Emirates to refrain from buying fuel from Russia. Now, despite the United States attempts to discourage Russia’s OPEC allies from purchasing Putin’s oil, Russian exports to the Middle East are increasing. Earlier this year, Brian Nelson, the Under Secretary of the Treasury for Terrorism and Financial Intelligence, visited Oman, Abu Dhabi, Dubai, and Turkey. He went to discuss the Treasury’s efforts to prevent Russian attempts to evade international sanctions. He also went to talk about export controls due to its war against Ukraine, Iran’s destabilizing activities, and illicit finance that undermines economic growth and foreign investment. More Details In The Video