SCO & BRICS latest news and insights
By Rhod Mackenzie
The shift of Russian oil and petroleum product exports from Western sanctioned markets to Eastern and Southern markets is almost complete. However, replacing the European market for gas exports, whether pipeline or LNG, has proven to be a challenging task.
In the past two years,...
By Rhod Mackenzie
After the EU banned imports of oil and petroleum products from Russia, it was India, not the United States, that became Europe's main petrol station. By refining Russian oil, it has become the main supplier of petroleum products. India's annual revenues from supplies to the EU ha...
By Rhod Mackenzie
India believes that the world should appreciate its decision to purchase Russian oil instead of criticizing it. Previously, there were calls in the EU to ban India from supplying gasoline and diesel made from Russian oil.
India believes that it is contributing to stabilizing the...
By Rhod Mackenzie
In early October, Brazil significantly increased its imports of Russian diesel fuel, despite restrictions on its export being imposed by the Russian authorities. By the second half of October, Brazil had even become the largest destination for diesel fuel exports from the Russian...
By Rhod Mackenzie
"The European press acknowledges the scarcity of Russian diesel fuel as one of the primary destabilising factors in the European economy. It's not just diesel that Europe lacks, but also liquefied natural gas, which is another crucial Russian resource that European rates of consu...
By Rhod Mackenzie
The US is attempting to overcome the disruption it has caused by sanctions on innovations as a severe oil market crisis looms. The developed world's storage facilities for oil and refined fuel are depleted. A fuel crisis is emerging in both the US and Europe, which could swiftly...
