Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Iranian Army: Air defenses targeted and shot down two Israeli F-35 fighter jets.
Iran's Fars News Agency: Nojeh Air Base in Hamadan was subjected to two Israeli missile attacks.
The Leader of the Revolution, Sayyed Ali Khamenei, issues a decree appointing Brigadier General Majid Mousavi as commander of the IRGC Aerospace Force.
Al Mayadeen's correspondent: Israeli attacks targeted four areas in Tabriz today
Tasnim News Agency: Air defenses in western Iran confront Israeli aggression targeting cities of Tabriz, Khorramabad, and Kermanshah
In its statement, the Army warns against engaging with unofficial statements circulating on social media platforms.
The Iranian Army confirms in a statement that it has no social media platform.
Spokesman for the Atomic Energy Organization of Iran: We moved important equipment out of the Fordow nuclear plant before the attack
"Israel's" Ichilov Hospital confirms recieving 52 wounded from Iranian missile strikes
Iranian TV: Iranian drones penetrated occupied Palestinian airspace and successfully struck several targets

Russia offers discounts on oil imports, unfazed by EU embargo

  • By Al Mayadeen English
  • Source: Agencies
  • 17 Sep 2022 16:53
2 Min Read

Amid the price cap initiative, Europe meets its replacements from Asian and Middle Eastern countries in the Russian oil market as it remains adamant on the Brussels-backed sanctions on crude oil imports.

  • x
  • Russia offers discounts on oil imports, unfazed by EU embargo (Energy Intelligence)
    Russia offers discounts on oil imports, unfazed by EU embargo (Energy Intelligence)

According to a Bloomberg report on Friday that cited analytics company Kpler, new markets are harboring potential buyers for half of Moscow's crude oil exports that are under Brussels’ looming embargo.

Major amounts of Russian crude imports are to be prohibited from entering the EU starting in December, while oil product exports will be banned beginning in February. This indicates, according to the International Energy Agency, that unless Russia reroutes its deliveries, approximately 2 million barrels of Russian oil a day will be left unclaimed. 

However, this coming winter, countries including Indonesia, Pakistan, Brazil, South Africa, Sri Lanka, and a number from the Middle East could buy up to 1 million barrels of Russian crude a day. Exports to India and China have been elevated as a result of rejection from European buyers - as Russia boosts its sales by offering large discounts to attract buyers.

Related News

Russia’s central bank cuts interest rate in a first since 2022

DPRK's Kim vows to 'unconditionally support' Russia in Ukraine war

Analysts believe the tempting discounts may bring sales, alongside the Middle East's contribution as it can take as much as 500,000 barrels per day of Russian crude oil, and could even redirect the oil previously used domestically to export markets.

As a reaction to the embargo and price cap decisions, Russia asserted that it will stop exporting Russian oil to European states that are applying the decision, with Kremlin spokesman Dmitry Peskov telling journalists: "Of course, this can only be a retaliatory measure". 

Per the account of earlier reports, a 30% discount rate has attracted Indonesia but is awaiting China and India's decision to agree on joining the price cap initiative pitched by the Group of Seven (G7) to curb Russia’s profits from oil exports. Russian President Vladimir Putin called the price capping "an absolutely stupid decision" at the Eastern Economic Forum in the Pacific port city of Vladivostok.  

The price ceiling, which Western leaders agreed on in principle in June, would limit the number of money refiners and merchants could pay for Russian oil. The measure is intended to reduce the Kremlin's earnings while keeping Russian oil on the market in order to avert a price upsurge.

  • Moscow
  • Russia
  • kpler
  • Oil
  • Brussels

Most Read

The logo of the Iranian Ministry of Intelligence (wikidata)

Iran acquired thousands of sensitive Israeli documents: Exclusive

  • Politics
  • 7 Jun 2025
Iranian missiles impact Israeli sites in Tel Aviv in 2nd wave

Iran's missiles impact 'strategic' Israeli site in Tel Aviv

  • Politics
  • Today
'Israel' launches major strike against Iran's nuclear program

'Israel' launches massive aggression on Iran

  • MENA
  • 13 Jun 2025
Smoke rises after an Iranian ballistic missile directly struck Tel Aviv, Occupied Palestine, June 13, 2025 (AP)

Op. True Promise 3: Iran's ballistic missiles strike Tel Aviv

  • MENA
  • 13 Jun 2025

Coverage

All
War on Gaza

Read Next

All
Global condemnations mount against Israeli aggression on Iran
Politics

Global condemnations pour in against Israeli aggression on Iran

President Donald Trump attends the UFC 316 mixed martial arts event Saturday, June 7, 2025, in Newark, New Jersey (AP)
MENA

US denies role in attacks on Iran, yet vows to defend 'Israel'

Vehicles drive past an anti-Israeli banner showing missiles being launched, in a square in downtown Tehran, Iran, Friday, April 19, 2024. (AP)
Politics

Political, military Iranian figures vow revenge, slam US complicity

AEOI condemns IAEA silence after Israeli aggression on nuclear site
Politics

AEOI slams IAEA's silence despite Israeli aggression on nuclear site

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS