The US has "defeated" Russia: the EU has abandoned its oil and switched to American oil

The United States became the main oil exporter to the EU, taking over from Russia. Moreover, Norway and Kazakhstan have also overtaken Russia.

This was reported by Eurostat. It is noted that in 2022, Russia's share fell from 31% in January to 4% in December.

At the same time, the United States increased its share from 13% to 18%. Norway increased its share to 17%.

Deliveries from Kazakhstan, analysts say, remained within the previous level of 8-14%. However, due to the sharp decline in Russian exports, it managed to overtake Russia in this indicator.

"By the end of 2022, the United States, Norway and Kazakhstan became the largest oil suppliers to the EU. The EU has thus demonstrated its ability to adapt to the changing situation on the oil market and virtually eliminate its dependence on Russian oil," the report said.

Russia's "petrodollars" are being taken away

At the same time, according to the International Energy Agency, after the EU embargo on Russian oil products came into force on February 5, their - and oil's - total exports fell by 500,000 barrels per day (bpd). At the same time, Russian oil supplies to the EU decreased by 800,000 bpd.

In February, Russia's oil export revenues fell by $2.7 billion, or 42% at once. Thus:

• oil sales were down 3.9% compared to January;
• exports of petroleum products fell by 16%.

Shipments to China and India also declined. This is despite the fact that these two countries accounted for more than 70% of Russia's exports of raw materials.

However, the volume of cargo without a destination increased by 600 thousand bpd. It now stands at 800 thousand b/d.

As reported by OBOZREVATEL, meanwhile, the US authorities privately called on the world's largest oil traders to trade Russian oil - but only if the transactions are made within the price ceiling ($60/barrel). In this case, traders will not face any sanctions or other types of punishment.

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