Bloomberg: Oil exports from the Middle East to Europe have doubled

According to Bloomberg’s IRNA report on Saturday, in line with the European Union’s efforts to embargo Russian oil and abandon it, reports indicate that crude oil shipments from Middle East countries to Europe have increased by 90% since January (December 1400) of this year.

According to this report, the volume of crude oil pumping from the Middle East to Europe has almost doubled compared to last year.

Bloomberg has estimated that in the first three weeks of July (July 10-29), more than one million barrels per day were exported to Europe through the Sumed pipeline in Egypt and from the Middle East, mainly through Saudi Arabia. . In addition, 1.2 million barrels of oil have flowed from Iraq to this continent.

According to the estimates of this American news agency, this amount of oil is 90% more than the amount of oil imported by Europe from the Middle East in January of this year and a month before the start of the war in Ukraine, which quickly led to the imposition of Western sanctions against Russia. In early June (June 11), the European Union imposed another round of sanctions, including a ban on oil imports by sea.

In response to this action, Moscow has offered its oil at a lower price to two countries, India and China, and both major energy importing countries have multiplied their purchases of Russian oil in the past few months.

Observers believe that although Europe thinks it has found a good alternative to Russian oil in the Middle East, it should be aware of the consequences of these sanctions until the end of this year.

Bloomberg writes, part of the European sanctions against Russia is related to the insurance of Russian oil shipments for buyers around the world, which can cause challenges for the entire oil shipments and intensify the competition for oil supply in the Middle East.