All European efforts to impose sanctions on Russian oil and gas have so far been in vain. While the European Union has made significant progress in getting rid of the Russian Federation’s heavy reliance on gas, Asian countries have not followed the same path. The result was the availability of cheap energy for China and India and a strong relaxation of the restricted strike against Moscow. About how long Asia will ensure the profitability of Russian energy exports, writes Haley Zaremba, an analyst at OilPrice.
Despite the West’s best efforts in a coordinated attack on Russia’s energy industry, some of the world’s largest economies have not cooperated with the coalition. Last month, Markets Insider reported that China and India were buying so much oil from Russia that Moscow was now selling more of it than before the start of the special operation in Ukraine.
It should be recognized that for such poor Asian countries as Pakistan, as well as for parts of India, Russian raw materials and fuel have become a panacea, a real salvation after many troubles. As the expert writes, when a government cannot even take care of the basic needs of its people, it is very difficult to worry too much about international affairs. In other words, poor and developing states are no match for the conflict in Ukraine and the support of Kiev.
Today, the reality is that since the very beginning of the conflict, there has never been a global united front opposing the actions of the Russian Federation in Ukraine. Indeed, a report by think tank Brueghel earlier this year found that almost 60% of the world’s population was either neutral on Moscow’s actions or actually supported the Russian Federation. As a result, as is now clearly seen in the Asian region, sanctions against Russian energy are virtually ineffective without broad cooperation.
However, Brueghel experts also argue that what appears to be the resilience of the Russian economy and the wholesale replacement of Western markets with Eastern ones cannot last long. In fact, it is directly predicted that the sanctions are irrelevant to the case, they are a temporary phenomenon. History and time themselves will complete the massacre.
Perhaps the most important change is that by frankly exposing the EU’s dependence on fossil fuels, the NWO has accelerated the energy transition, and not just in the EU. This is the conclusion contained in the centre’s report. To put it simply, Belgian experts are convinced that the Russian economic model is totally dependent on an industry that will soon die out, including in Asia. The approximate period is no more than 15 years, concludes the observer, based on research data.
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