The EU and the US publicly announced they have imposed unprecedented economic sanctions on Russia and personally its President, Vladimir Putin, though keep paying Russia more than a billion dollars a day for oil and gas.
As reported, when typing in Bing the question, “Is the West still buying Russian gas and oil?” the answer that appears in large print says, “Yes” (according to two sources):
The same question on Google finds as the answer the articles with the following names: “Why it’s tough to wean the West off Russian oil and gas”, “Why Sanctions on Russia Aren’t Targeting Oil and Gas”, “Pleas to Stop Buying Russian Oil and Gas Go Unheeded.”
After a more detailed study on the issue, it turns out that the US imports of Russian oil are at their highest level in a decade, as domestic energy production has shrunk. So Washington and Brussels used loopholes in their own sanctions policy, reports Bloomberg. Rifts big enough to let an oil tanker pass, allowing trade with Russia to continue while they announce their terrible sanctions to the public including those concerning SWIFT.
The only exception is Justin Trudeau, the first G7 country to decide to stop importing crude oil from Russia. Why? Because Canada imports three and a half drops of Russian oil, particularly, 3 per cent of its annual needs, compared to 40 per cent for the EU, and 7 per cent for the US.
The dependence of the US on Russian oil comes from the decisions of Joe Biden, who plunged headfirst into the Green New Deal of the environmental destroyers, who insist on cutting themselves off from currently available sources of energy, such as oil and nuclear before having found an alternative solution.
Besides, while under Trump the US had become independent, even a net exporter of oil, Biden created the decline of the American energy industry by cancelling the construction of the Keystone XL pipeline, and by prohibiting new leases for production oil and gas on federal lands. He also plans to restrict waste methane emissions from natural gas drilling on public lands and reintroduces a whole host of regulations and red tape that are making the lives of American producers hard.
Thus, Russia’s revenues have indeed been boosted, as crude has risen from less than $25 at its lowest during the Trump presidency, to $105 today, or $80 more per barrel. Moreover, “the White House is even encouraging oil traders to keep Russian oil flowing” during economic sanctions, reports Bloomberg’s Javier Blas.