While China buys, the EU bans Russian oil

Photo-illustration: Pixabay

While the European Union is introducing a ban on the import of Russian oil, independent refineries from China are discreetly buying it at lower prices.

The President of the European Commission, Ursula von der Layen, confirmed the new plan of economic sanctions against Russia, which, among other things, includes the embargo on Russian oil. EU members will have time to adapt to the new situation.

According to the dpa agency, according to the first information, the plan is to ban the import of crude oil after a transitional phase of six months, and after eight months to ban the import of petroleum products. It is also important whether the deliveries go through the oil pipeline or by ship.

Large exemptions from the embargo are planned only for Hungary and Slovakia, which are highly dependent on Russian oil, and since they do not have access to the sea, they cannot switch to other sources of supply as quickly as other countries.

While the European Union is working on a permanent solution and freeing itself from dependence on Russian oil and gas, China is discreetly buying. According to writing According to the Financial Times, independent refineries from China do not publish the contracts they conclude with Russian oil suppliers in order to avoid American sanctions.

According to previously published information, India and China have become the leading buyers of Russian oil. About six million barrels of oil arrived in India last month. While at the beginning of the year China National Petroleum Corporation (CNPC) has signed an agreement to deliver 100 million tons of Russian oil via Kazakhstan. This agreement was signed for 10 years, and then it was said that the oil would be processed in factories in the northwest of China in order to meet the needs for oil derivatives.

And while global demand for oil reigns, citizens are worried about the price of fuel. The Government of the Republic of Serbia has adopted the Decree on limiting the prices of petroleum products, so every Friday the Ministry of Trade, Tourism and Telecommunications announces the price of fuel for next week. According to experts, fuel prices will continue to rise, and only the Government knows how much.

Until then, after valid price list, until May 6, the price of diesel in Serbia is 206.20 dinars per liter, and gasoline 184 dinars.

When it comes to the countries of the region, the situation is not great either. The prices of petroleum products in Slovenia have reached a record level, a liter of gasoline costs 1.61 euros, and diesel 1.81. In Montenegro a liter of petrol costs 1.73 euros, and diesel 1.76 euros, while in Croatia it is necessary to set aside 1.64 euros for petrol and 1.89 euros for diesel. In BiH, petrol costs 1.5 euros, diesel 1.61 euros, while in Northern Macedonia the prices are 1.33 euros, or 1.37 euros.

The citizens of Serbia will find out what fuel prices await us in the future on Friday, and everyone else when going to the gas station.

Milica Radičević

Source: Energetski portal Srbije by www.energetskiportal.rs.

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