this post was submitted on 17 Apr 2025
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Europe

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[–] UnderpantsWeevil@lemmy.world 15 points 6 days ago (6 children)

EU purchases of laundered Russian oil worth an estimated €1.1 billion to the Kremlin in 2023

The fuel is entering through a not-so-small loophole left in EU sanctions which allows products refined from Russian oil to flow into the bloc. This has resulted in a ‘laundromat’ where refineries in countries like India and Turkey, can import discounted Russian crude, refine it into products like diesel, jet fuel, or gasoline, and legally sell the refined oil to embargoing jurisdictions like the EU.

Has this meaningfully changed? Because I'm finding a lot of news about EU states increasing their trade with Turkyie and it's neighbors, without a hard look at where this glut of reserve is coming from.

[–] albert180@piefed.social 5 points 5 days ago (3 children)

Russia still looses Money on this, as the Turkey and India won't pay full price for this oil

[–] UnderpantsWeevil@lemmy.world 3 points 5 days ago (2 children)

Russia still looses Money on this

The margins on O&G are enormous. They're not pumping gas for charity.

[–] albert180@piefed.social 2 points 5 days ago (1 children)

They still get a worse price than if they could sell directly to Euroe

[–] UnderpantsWeevil@lemmy.world 1 points 5 days ago

"Euro Bonds" are the two scariest words in the US Treasury's vernacular right now.

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