It’s a LIE: Europe Is Not Winning the Energy War Against Russia

Hello everybody and welcome to Geopolitical Trends. My name is David Oualaalou. So good to be with you as always. After the European Union ban, North Africa now is buying Russian oil and diesel and reselling it to Europe at 4 or 5 times the price. It's fascinating. In this video, I am going to provide you insight not only into how doomed Europe is, both politically and economically, but also how North Africa now is benefiting economically from the Ukraine conflict. But before I'll do— before I'll get, uh, delve deeper into all this, as always, I like to extend my thanks to the channel's members and also to the supporters, subscribers, that is you. But if you are— if this is your first time landing on this channel, please remember to subscribe and smash that notification button so you will be notified every time I upload a new video. And thank you all for your support. Let's dive in, in this topic. It's fascinating. It just came under my radar literally about 2 hours ago, and I couldn't wait to get on the air, record this, because once again, you're gonna be— you might be hearing about it soon, but it's gonna be in a different sort of linguistically word difference. So Anyway, here is what happened. And whoever thought North African countries are now buying significantly more Russian fuel following the EU ban? I mean, nobody was seeing this coming because we will think, well, North Africa, no, they are the winners, and you will see why. So signs have been emerging or are emerging as we speak that some of those products are headed for re-export. And guess to where? You guessed it right, to Europe— European Union, that is. So let's start first of all with Morocco. Morocco saw an import of about 2 million barrels of Russian diesel in January, which was about just a month, a month, a month or so ago, you know. And this compared— so I said 2 million barrels in comparison to 600,000 barrels that Morocco gets for a whole year of 2021. That is very interesting and fascinating. Of course, Morocco is going to be reselling that at 4 or 5 times the price. North Africa has become now a key export outlet of Russian diesel and fuel and other petroleum products after, of course, the EU embargo on imports of Russian fuel took effect in early February. Just for those who might not know the background, let me provide you just a, a snapshot of what this is all about. Of course, the ban— the European Union banned effectively on February 5th, uh, the— it banned the seaborne imports of Russian refined oil products, which was about around 1 million barrels per day of Russian diesel and other fuels needed to find a home elsewhere. So what Russia was basically saying is, okay, we have now this massive amount of energy. We're not sending it to Europe. We're going to find another home for it, you know, and this because Moscow or Russia, that is, wants to continue getting money for those products. Do you blame them? No, African countries on the Mediterranean, as well as Turkey, started taking into more Russian fuels, you know, even before the Western ban, which, by the way, the European Union never disclosed. Now it explains why the EU reached out to Algeria asking for natural gas. That's why. So, so now the signs are emerging that some of those products could be headed for re-export, as I mentioned earlier, to Europe at a higher price. You know, this is why I said Europeans are doomed, or the EU, that is, is doomed. So, so, and despite what you hear, take my word for this one, despite what you hear about the sanctions and so forth, the EU may not be too strict. Yes, you heard me. EU is not too strict in looking to remove every possible Russian barrel of oil products from its market. So what the media is saying versus what it is are two different things, you know. And considering the major dislocation in global oil trade and the goal of the Western nations to punish Russia. But Russia is keeping the flow of oil around the world elsewhere, so they are not losing money. So as a matter of fact, Russia is doing fine even with the so-called sanctions. So, so the flow, the flow of the Russian fuel to the, to developing nations, it is regulated by price cap. Because what the European Union did is they imposed some price cap. It's similar to the cap that the European Union put on Russian crude. If the trade is carried out through Western insurer, so the cap that the European Union decides on, on the Russian diesel, for example, is about $100 a barrel. That's the cap for it. While the cap on the lower-cost petroleum product is set at $45 a barrel. So this is why what, what, what the media stating about the Russian economy is, is, is down the drain and all that, it's a lie, it's nonsense. I would say the German economy is down the drain, the UK economy is down the drain. France, you know, you look at some other Eastern European countries who are part of the EU, their economy suffers big time. So, so by the way, guys, if you like this video so far, make sure to subscribe and hit the like button. I will truly appreciate your support. So, so here's the thing. Europe, uh, basically where it is, is on track. Yeah, I'll say it, Europe is on track to import this month the highest volume of diesel from the Middle East and Asia that it ever did in the last 7 years. Yeah, because the EU now is turning to alternative supplies after the ban on imports of the Russian, uh, diesel and other fuel took effect. This is why China is selling natural gas to the EU at 5 or 6 times the price. This is why now North Africa is selling oil, is selling natural gas and diesel at higher prices. This is why even Saudi Arabia, believe it or not, Saudi Arabia is buying oil from Russia at a discounted price and reselling it to Europe at a higher price. It's a business decision. Call it whatever, but that's the smart move. They have to look for their own profit, but who end up holding the end of the stick is the European Union. So at the same time, Russian oil products flows to North Africa are surging. Yeah, Morocco, for example, as I said, they saw an increase of 2 million barrels of Russian, uh, diesel just in January. You know, you look at also, and this is by the way according to some American newspaper sources like Wall Street Journal. So Tunisia is another North African country, has also seen a surge in imports of Russian petroleum products, you know, to about 2.8 million barrels in January, uh, and another estimated 3.1 million barrels just last month, you know, after, you know, this is like becoming evident that Europeans shot themselves in the foot. So here's my take on it, my brief analysis for you, as I always like to keep this very short and concise and to the point. So those— these countries, you know, when not— when I say these countries, I'm referring to North Africa. And basically, what am I talking about? I'm talking about Morocco, I'm talking about Tunisia, Egypt to a degree, Libya and Algeria. They have enough energy, so they are all— they are OPEC members, so they don't worry about that much. But those other 3 countries, they do, mainly Morocco and Tunisia. So these countries will not be consuming— here is the key— these countries will not be consuming Russian oil products. That is the key factor, because North Africa isn't boosting, you know, they are not sort of upgrading or boosting its refining process either. They're leaving stuff as is. Why? Because they're turning around and adding some other products to it and reselling it. So, so this leaves one plausible explanation for the jump in imports of Russian fuels. That means re-export to other countries, including Europe, you know, after blending with some other products of non-Russian origin, because they won't be subject to sanctions. This is why I always say sanctions don't work. There is always a way around sanctions, you know, and Europeans were dumb enough You know, I usually don't like to use the term, but they were stupid enough to not realize that they are shooting themselves in the foot, economically speaking. And this is the proof for it. So, so here is my conclusion for you. Like I always say, I like to keep it short and concise. So in the multipolar world that is emerging before our own eyes, which will be the powers that matter in your opinion? US and China? Certainly. India and Russia? Perhaps. Brazil, Japan, and South Africa? Not yet. And what about the EU, the European Union? Yeah, that's the question we need to ask, because only 5 or 10 years ago, the EU, European Union, seemed to be power on the rise. It was integrating economically, launching even its own currency, the euro, that is expanding geographically and passing sort of new treaties that would greater sort of create a stronger institution. That was 10 years ago. But now the picture is different, although the EU is, by some estimates, some things that is still regarded for its prosperity and political stability. Even though I don't believe there is a massive division that exists within the EU, you know, it looks to me like the EU is in shambles politically and economically and no longer looks like the power that it was, that it once was. That is the result of failed policies that the EU has embarked on. Now they see why bringing or importing Russian energy was doing them a favor. No longer. I hope you find this very informative, and as always, remember geopolitics impact your daily life in more ways than one. Till next time, guys. Bye-bye.