All countries reduce, Hungary increases dependence on Russia
Since Russia’s war against Ukraine broke out, Russian oil imports have fallen significantly. In 2021, Russia imported an average of 9.5 million tonnes of oil per month from the EU, down to 3.3 million tonnes in December. Hungary, however, has not decreased but increased its imports of Russian oil.
Russian oil imports to the EU decreased
Russia’s imports of crude oil by ship to the European Union already fell in March 2022. However, the major decline in the pipeline only started in the autumn, writes g7.hu.
Since the Russian-Ukrainian war began, EU countries have tried to reduce their dependence on Russia and Russian oil. However, different countries have been freed from Russian oil to different degrees. Not all countries have given up cheap oil.
Total EU imports of Russian oil fell by 17 percent in 2022. Some countries even increased imports. Perhaps less surprisingly, the Hungarian Orbán government, which has been described in the international press as pro-Russian, was in this group.
Besides Hungary, Bulgaria and Italy have also increased their imports of Russian oil. In Bulgaria, a 2.4-fold increase can be attributed to Russian-owned refineries, while in Hungary the surge in imports can be attributed to Mol. The Czech Republic and Romania are vociferous in their opposition to the Russians, so it is surprising that they still purchase Russian oil.
Less, but more expensive
While the volume of Russian oil imports has fallen, European spending has even increased due to higher market prices. In 2022 as a whole, Russian oil export revenues from EU countries amounted to EUR 57 billion, a five-fold increase compared to 2021 figures.
The price cap implemented by the European Union and the G7 has been working effectively: in a single month, the price per tonne of oil imported by ship has fallen by 13 percent. The price cap does not apply to pipeline prices though, thanks partially to the Hungarian lobby.
Asia is the new Europe
Europe has cut Russian oil imports but Russian sales have not fallen. China and India have now taken over the EU’s role.
Read alsoHungary could have saved billions by not buying gas from Russia
Source: G7.hu
4 Comments
Please correct me if I’m wrong- billions were spent to bring NS – 2 to Europe from Europe. They were warned by trump it was big mistake- they laughed. I guess they blew it so they could say Hungary is the one getting Russian energy. The international press is a joke- would like a list of there stupity. They are pushing hungary is not a democracy and Obran is the new Stalin other stupity and what they don’t tell you is even worse.
I don’t remember seeing anything from DHN on the NS-2 and not a mention of it being blown up- but even the big story that Russia was responsible. Hungary is not perfect, but compared to the rest of Europe it’s amazing for such small country. Why don’t you report on what lead up to the Ukraine war- or do you know?. I moved to prague 10 years ago and saw exactly what was happening. What i didn’t know the role the US, EU and NATO played. They destroyed a country with a 2 time elected leader – it became even more corrupt and they were big part of it.
The Biden crime family played a big role- not one word from DHN and it’s all documented and much more to come. It would be great to know what the actual Ukraine people think and what d they know about what has taken place. The leaders F-d up and the people are paying the price.
Russian oil – interesting overview:
https://www.statista.com/statistics/1112243/urals-crude-oil-price/
This is already a bit “old”, though. Prices for Urals blend appear on the rise, albeit with a significant discount (Jan. 2023 USD 30 / barrel) compared to Brent crude.
Article below has some good observations, as well as a chart listing the fossil fuel departures (EUR value) from Russia with destinations.
https://www.reuters.com/markets/currencies/indias-oil-deals-with-russia-dent-decades-old-dollar-dominance-2023-03-08/
This factual happening, this WRONGFUL increase of Russian relationship and dependency by Victor Orban, the Hungarian Government, we will pay a hefty price, by measures arising out of the European Union, N.A.T.O, Britain & the United States of America and all country’s Globally that are Democratically Governed.
Less than a year the north stream pipeline was blown up- the biggest adventure with Russia by Germany – interesting no mention of the biggest cooperation with Russia in history then they try to blame Russia for blowing it up because of the stupity and billions spent. I guess you couldn’t correct my last comment so you just removed it.