On Russia United States Sanctions Thus in the prescribed condition European countries There is a more vulnerable environment. Including Germany, which relies on Russia for crude oil and natural gas European countries Have been in great crisis.
On Ukraine Russia Has been under attack for the past few days. This environment has posed economic threats around the world. Thus gold, crude oil The price is rising sharply.
A few days ago a barrel of crude oil crossed $ 100. Then the price went up to $ 110. The forex trade continues to rise to $ 118 and $ 125, respectively.
Studies by several companies, including Bank of Baroda, Morgan Stanley and DT Securities, have warned that prices will continue to rise. crude oil A Reuters study has warned that price rises could be unpredictable and could reach as high as $ 300 a barrel.
In this case from Russia in retaliation for the attack on Ukraine crude oil US President Joe Biden has announced a ban on imports. All of Russia crude oil Britain has also announced a phasing out of imports.
This announcement crude oil Will further increase the price. This price increase will increase inflation around the world. Especially United States And the impact of these decisions is expected to be greater in its European allies.
The three largest countries in the world crude oil The market is booming. Globally crude oil In the world United States Holds 18 to 19% stake. after that Russia And Saudi Arabia each have a 12% stake.
The rest of Saudi Arabia, which leads the OPEC organization crude oil Also leads exporting countries. Thus crude oil Saudi Arabia dominates sales.
The overall contribution of these three countries is 45 percent. Russia’s global crude oil Exports are 12 percent.
Nearly 5 million in the world market every day crude oil Barrels Russia Distributes. Especially to European countries including Germany Russia In large quantities crude oil Distributes.
Germany is Russia’s largest exporter of 12% of its oil. 40% of its total fuel needs depend on Russia. Germany also relies heavily on Russia for its natural gas needs.
Germany relies on more than 25 percent natural gas. That too is mostly imported from Russia. Natural gas comes to Russia from Russia through pipelines. Thus Germany has no chance of getting gas in other ways.
Germany is an important decision-making body in the European Union, depending on its interests United States And the question arises as to how Germany is going to deal with the decisions that Britain makes.
The nations of the world can repair the losses caused by the Russian embargo by increasing production. But it takes time, money and effort. It is too late for small scale producing countries to prepare the supply chain. Even if many countries supply together, its volume will never be equal to Russia’s production.
Thus including Germany, which will be affected by the Russian embargo European countries Ukraine is seen as likely to protest US action.
Thus to the nations of the world crude oil To keep the supply uninterrupted United States Has made several attempts. crude oil The United States has called on the over-producing OPEC nations to increase their production. But those countries did not agree to that.
Similarly from Iran crude oil Consultations are also underway to lift the ban on imports. United States It has been in the forefront of supplying crude oil to European countries. But this change can only happen if everything happens immediately European countries Survive. It is believed that otherwise the situation of exclusion could occur to European countries regardless of the US embargo.
In the meantime United States At a lower price in the wake of the ban crude oil It has been reported that some companies in Russia have come forward to sell. Russian companies are willing to do this in other ways, despite the impediment to money transfer.
This raises the question of what position countries like China and India, which are neutral on the Ukraine war, are going to take. Countries like India and China have lifted US sanctions against Russian companies crude oil There is also the question of whether to buy.