The United States came out on top in terms of oil supplies to the EU

According to Eurostat, the share of Russian oil in the EU market began to decline after February 2022, but fell sharply after the introduction of the price ceiling. At the same time the US, as well as Norway, Great Britain and Libya,increased their shares

The United States came out on top in oil supplies to the European Union by the end of 2022, while RUSSIA reduced its share from 31% to 4%, according to Eurostat data.

Thus, from the fourth quarter of 2021 to January 2022, imports from Russia fluctuated around 40-50 million barrels. per month, which ranged from 24 to 31% of the total volume of oil imports to the EU. At the same time, the US share was 10–13%. Approximately the same volumes of oil were supplied to the EU by Kazakhstan and Norway.

As Eurostat notes, the situation began to change after the start of the military operation in Ukraine: in February and April, oil imports from Russia amounted to 33 and 30%, respectively, but in March this figure dropped to 18%. After December, when the EU imposed an embargo on Russian oil exports, deliveries from Russia fell to 4%. The United States, by contrast, increased its share by 6% (to 18%) compared to December 2021, ranking first in terms of oil exports to the EU.

Also deliveries to the European Union significantly increased Norway (plus 6% per year), Great Britain (plus 4%) and Libya (plus 2%).

The EU embargo on the import of raw materials began to operate on December 5, 2022, on the import of petroleum products - from February 5, 2023. Since that time, price ceilings have been set for the supply of oil and oil products from Russia to third countries: for oil - $60 per barrel, for light oil products - $100, for dark ones - $45 per barrel. Russia, in response, banned the sale of oil to those individuals and organizations whose contracts include a price limit.

Supplies of oil and oil products from Russia to the G7 countries and the EU in 2021 amounted to 214.7 million tons for a total of $109.5 billion. This is 68–70% of the total EXPORT of these goods to the world market.

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Russian authorities criticize Western sanctions and call them illegal. Deputy Prime Minister Alexander Novak said earlier that Russia in 2022 redirected significant volumes of oil to Asian markets, in particular to CHINA and India. “If we take, for example, oil supplies to India, they increased 22 times last year. Deliveries to China and other markets have grown, and this is also the result of the great work that has been done in the industry,” he said.