(International relations) – When the oil price war has serious consequences, Russia is ready to provide the most necessary fuel sources to save US shale oil from death …
The US imports of Russian oil products reached the highest level in 16 years
RT on August 11, citing data from the Russian Federal Customs Service (RBC), showed that in the first half of 2020, the US imported more than 9 million tons of Russian oil products – the highest volume since five 2004.
According to the Customs Service of the Russian Federation, in the first 6 months of this year, Russia exported more than 74.6 million tons of oil products and the US was the second largest customer when the orders to this country accounted for. more than 12% in both quantity and value.
According to the data of the US Energy Information Administration (EIA), the US imported Russian oil in the first five months of 2020, reaching nearly 68 million barrels, equivalent to 9.3 million tons, exceeding the figures of Russian customs in Half a year.
This difference is because Russian customs data does not include shipments through third countries, while US data is not based on the shipping country but on the country of origin.
|Russian oil tankers constantly docked at US ports|
In addition to replacing oil imported from Venezuela, the increase in US imports of Russian oil products is also due to low prices. In addition, the drop in freight rates has also supported Russia’s demand for fuel oil.
Russian oil products exported to the United States are mainly transported to the Gulf of Mexico on the US territorial sea, to the ports of Houston and Galveston in Texas and to the port of Pascagoula in Mississippi.
Analyzing data of Refinitiv Eikon, among more than 9 million tons of US oil products imported from Russia, there are more than 5.3 million tons of fuel oil. Particularly in June, the number of orders increased 16% over the previous month, reaching 1.078 million tons.
It is known that in 2017, the US imported 1.5 million tons of oil from Russia but increased to 7.5 million tons in 2018. In particular, the US refineries in 2019 imported up to 11 tons of oil. fuel from Russia.
According to EIA data, there was a time when the volume of US oil products imported from Russia increased 57% after just 1 month. Specifically, in March 2019, the US imported from Russia 361 barrels / day, by April 2019, it increased to 566,000 barrels / day.
Thus, the volume of oil products that the US imported from Russia has continuously increased and continuously set a record. It is worth mentioning that the US setting a record of oil imports from Russia is parallel with the US increased sanctions on Russia, including sanctions on energy.
What do you see when the amount of US oil purchased from Russia continues to set records?
First, the United States cannot succeed with punishing Russia if it does not want damage
On September 13, 2018, Assistant Secretary of the US Treasury Marshall Billingslea explained to the Financial Commission in charge of US Trade and Monetary Policy on the effectiveness of sanctions against Russia. home.treasury.gov – US Department of Finance portal.
In Billingslea’s explanation, for the first time, the US administration officially admitted that the design of Russian sanctions is the most complex but ineffective task in punishing rival US entities.
The reason given by Billingslea is the size of the Russian economy, the strength of the Russian economy and the influence of the Russian economy on the global economy, making Russian sanctions always have consequences for the US and its allies.
|Assistant Secretary of the Treasury Marshall Billingslea|
“Russia is completely immune to the sanctions imposed by the US on other countries, which has forced us to change our approach. For example, we cannot punish Russia in the same way as it applies to North Korea or Iran.
The Russian economic size is large and integrates too well with the global economy, with the international financial system and global supply chains … So it is too difficult to design Russian sanctions that minimize cooperation. negative action to America and its allies “.
According to the Assistant Secretary of the US Treasury: “Many Russian state-owned enterprises and Russian trading house businesses have been closely integrated into supply chains and global economies, especially the economy allies in NATO “.
That is a huge challenge with the design of sanctions Russia and the US require a special approach, but still not effective as expected, especially still does not help the US and its allies avoid the adverse effects. pm.
Perhaps the fact that the US continuously set a record for the volume of oil products imported from Russia in parallel with the increase in Russian sanctions is the best evidence for Marshall Billingslea’s judgment without any further explanation. Let’s like.
Second, the American government has been diligently designing Russian sanctions only as “unskillful”
Bloomberg has said that many MPs still want to bring Russia to justice for meddling in the US election and other Russian actions in other countries, but there is no consensus on specific measures. .
The cause of the deadlock was identified as many US lawmakers worried that the United States might receive a “stick he hit his back”, when Russian sanctions affect the economy of the United States.
Earlier this year, two Republican Senators Marco Rubio and Chris Van Hollen submitted a bill threatening tough sanctions against Russia to prevent the Kremlin from interfering in US politics in the future.
In April 2019, the next bill to punish Russia with similar but stricter hardware was submitted to the US Congress by Senators Hollen and Rubio.
The content of the Rubio-Hollen Bill contains provisions on the possibility of the US government being given the most severe sanctions on Russia’s defense, banking and energy sectors.
|Sen. Marco Rubio goes away in designing Russian sanctions|
In parallel, in August 2018, a group of Republicans and Democrats – led by US Senator Lindsey Graham and Senator Bob Menendez – also announced a bill aimed at imposing additional sanctions. strict with Russia.
The content of the Graham-Menendez Bill includes new limits on public debt transactions, oil and energy projects as well as a regulation on the amount of uranium that can be imported from Russia.
However, neither the Rubio-Hollen Bill and the Graham-Menendez Bill – which was supposed to send Russia to hell – have not been passed. That makes US lawmakers really “tired” of the design of Russian sanctions.
“We are really starting to get tired of sanctions, especially those against Russia. I hope many people will sympathize with our situation, ”said Florida State Senator Marco Rubio.
Through setting a record for the volume of oil products imported from Russia shows that the US has tore up the sanctions barrier that it itself set with Russia. If you ask like that, what is the use of designing a Russian sanctions system, so the American world is only “ineffectual”.
Third, Russia has really become a bulletproof vest for the US business system, both production-business and investment cooperation.
On November 20, 2019, speaking at the Call from Russia Investment Forum, in Moscow, President Putin said that the US administration’s sanctions-embargo against Russia was just an act of ‘shooting himself in the leg’. Only Washington, according to RT.
And according to the contemporary Russian leader, in the current context, embargoed Russia has become a bulletproof vest for the US business system and American investors, not only in Russia, but also in the United States.
The comments of the head of the Kremlin at that time were skeptical and considered only a “spiritual lieutenant” for US-Western businessmen and investors to turn to Russia to help Moscow solve the consequences of sanctions. -embargo.
But according to analysts, Mr. Putin has identified correctly. There are two effects that most clearly identify the impact of the Russian ban on US government policy, from which the Russian shirt will help US businesses against bullets.
|Laminating oil products from Russia is helping US shale oil escape death|
One isUp to now, all US sanctions – though legalized – have never escalated to the point that it would make Russia difficult for American business and investment, as assessed by the Trade and Phat Forum. Development of the United Nations (UNCTAD).
Two isAll US sanctions never target the entity that is the Russian state, but only on specific sectors, organizations or individuals. This is the reason why US-Russia trade could increase sharply, according to the World Bank.
Now, when the war on oil prices has had serious consequences, Russia is ready to provide the most necessary sources of fuel to save US shale oil from death, it is clear that Russia is the “benefactor of American businesses”. although knowing that it comes from the profits of both parties.