We have seen that Germany is not going to stop importing Russian oil anytime soon as there is more at play than first seems. Gazprom owns the oil pipe line that runs from Russia into Germany and a certain ex Chancellor Gerhard Schröder sits on their board. How much influence does their ex leader still have one can only imagine, but it all sounds far more than just not being able to find new suppliers. The whole thing stinks and when sanctions are imposed you cannot pick and choose what suits you as that misses the whole point of what sanctions are supposed to do.
The one good thing that Germany cannot prevent is that the LNG projects Russia had planned in the Arctic look dead and buried for now. The idea they would become the worlds leading supplier was their aim using the Northern Sea Routes as their distribution outlet.
Back in February it was widely reported that The LNG plants would rely heavily on Western technology. The Russians did try with a local manufacturer called Novatek’s Arctic Cascade, but this was not very successful. Specialist equipment is required and there are only a few companies who have that expertise and they all lie in the West.
Two weeks ago on April the 8th their were many amendments added to the already amended long list of sanctions. This was to make sure the LNG projects had no loop holes ensuring they could not get off the ground. Heat exchange units are key element in an LNG refinery and without this they are doing nothing. The latest amendments state clearly that orders placed before the 26th February can be delivered up until the 27th May.
LNG Heat exchange units are key to the plant.
The latest round of sanctions definitely targeted certain industries that Russia was relying heavily on and without those they will definitely feel the effects. This is what sanctions are designed to do and not still trade with the "enemy" like Germany is blatantly doing. Why would they stop the war if they are still exporting oil for billions of dollars to the West?
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Arctic LNG 2 now on permanent hold.
Sanctions are designed to cause as much economic harm as possible to Russia in this case while at the same time trying to protect everyone else. We have seen rising prices and the sooner this conflict ends the better for everyone. Trading with Russia is not only going to make the sanctions less affective, but will draw the conflict out even longer affecting everyone around the world.