{"id":1405283,"date":"2022-03-28T16:14:43","date_gmt":"2022-03-28T20:14:43","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1405283"},"modified":"2022-03-28T16:14:46","modified_gmt":"2022-03-28T20:14:46","slug":"russia-looks-to-asian-market-as-germany-commits-to-cutting-imported-energy-addiction","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/russia-looks-to-asian-market-as-germany-commits-to-cutting-imported-energy-addiction\/","title":{"rendered":"Russia Looks to Asian Market as Germany Commits to Cutting Imported Energy Addiction"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" 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      <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p class=\"subheading\">Russia has said that it is looking to Asia as a potential market for oil as Germany commits itself to wean itself off of Moscow\u2019s supply.<\/p>\n<p>Asia appears to now be a prime market in the eyes of Moscow, with a spokesman for Russian President Vladimir Putin reportedly outlining the continent as a new potential consumer for Russian oil.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>It comes as politicians in Germany commit the country to wean itself off Putin\u2019s oil, with the nation\u2019s leftist economics minister saying it is feasible for Russian oil imports to be halved by summer.<\/p>\n<p>According to a <a href=\"https:\/\/www.spiegel.de\/wirtschaft\/energiepolitik-russland-will-oel-export-nach-europa-durch-asien-ersetzen-a-61ba64ac-8a21-4c19-a988-049ba235b862\">report<\/a> by\u00a0<em>Der Spiegel<\/em>, Russia is now looking for new oil customers in Asia, with South-East Asia, in particular, being mentioned as a prime location for potential demand.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">OIL MARKET: \u00a0Kremlin spokesman Dmitry Peskov tells reporters on daily conference call that Russia will be able to redirect crude oil not taken by European buyers to the Asia-Pacific market | <a href=\"https:\/\/twitter.com\/hashtag\/OOTT?src=hash&#038;ref_src=twsrc%5Etfw\">#OOTT<\/a><\/p>\n<p>\u2014 Javier Blas (@JavierBlas) <a href=\"https:\/\/twitter.com\/JavierBlas\/status\/1508379145213988869?ref_src=twsrc%5Etfw\">March 28, 2022<\/a><\/p>\n<\/blockquote>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>\u201cThere is a market in Southeast Asia, in the east,\u201d Russian news agency TASS <a href=\"https:\/\/tass.com\/economy\/1428235\">reports<\/a> spokesman\u00a0Dmitry Peskov as saying. \u201cUndoubtedly, falling out bids for oil will be compensated by bids from that Eastern direction.\u201d<\/p>\n<p>\u201cBut in any case, we repeat it once again, after all, the world market is much more multifaceted than only the European one,\u201d Peskov continued. \u201cAlthough, of course, the European market is top-grade\u201d<\/p>\n<p>This view was backed up by one expert <em>Der Spiegel<\/em>\u00a0spoke to, who claimed that there was a great demand for Russian oil in China, though they also noted that getting the oil to its desired destination would be no easy task.<\/p>\n<p>\u201c\u2026 if you look at how oil and gas are supposed to get there, it gets complicated,\u201d noted economic researcher Paul Krugman, who said that the fuel would likely have to travel thousands of kilometres, and be transported by tank wagons to get to its destination.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The ongoing Russian invasion of Ukraine has had a big impact on Italy, which uses gas for half of its energy needs and imports half of that gas from Russia <a href=\"https:\/\/t.co\/8dADh1epii\">https:\/\/t.co\/8dADh1epii<\/a><\/p>\n<p>\u2014 Breitbart London (@BreitbartLondon) <a href=\"https:\/\/twitter.com\/BreitbartLondon\/status\/1507741850395893761?ref_src=twsrc%5Etfw\">March 26, 2022<\/a><\/p>\n<\/blockquote>\n<figure id=\"M-ROS-B3\" class=\"a8d adSo\"><\/figure>\n<p>As Russia looks for new markets for its oil, Germany is apparently finally committing to rid itself of its addiction to Russian oil.<\/p>\n<p>Both Olaf Scholz, the country\u2019s current leftist chancellor, and Robert Habeck, the nation\u2019s Economic Ministry, have both made verbal commitments to seriously cutting oil imports from Putin\u2019s Russia, with Habeck\u2019s ministry saying that imports will be cut in half by the middle of the year.<\/p>\n<p>\u201cEvery effort, every kilowatt-hour saved also helps and harms Putin,\u201d\u00a0<em>Der Tagesspiegel\u00a0<\/em><a href=\"https:\/\/www.tagesspiegel.de\/politik\/wirtschaftsminister-habeck-deutschland-koennte-russische-oelimporte-bis-sommer-halbieren\/28199328.html\">reports<\/a> the minister as saying regarding the curb.<\/p>\n<p>However, while Germany appears like it may in fact be able to kick its Russian oil habit in good time, its gas addiction appears to be a different matter entirely, with the country currently importing <a href=\"https:\/\/www.nytimes.com\/2022\/03\/25\/business\/germany-russia-gas.html\">55 per cent<\/a>\u00a0of what it uses annually from the Russian Federation.<\/p>\n<p>What\u2019s more, Moscow is now demanding that all \u201chostile\u201d nations pay for Russian gas in rubles, something that Germany \u2014 along with the rest of the G7 \u2014 has <a href=\"https:\/\/abcnews.go.com\/Business\/wireStory\/germany-g7-rejects-russias-demand-pay-gas-rubles-83718737\">rejected<\/a>.<\/p>\n<p>However, Russia has threatened that it will not deliver gas \u201cfor free\u201d, with the country\u2019s Finance Minister expressing confidence that western states will \u201cadjust\u201d to paying for gas in the Russian currency.<\/p>\n<p>\u201cIn our view, in the current difficult geopolitical conditions the transition to settlements in national currency is a reduction of risks in commodity exchanges, trade flows and settlements for them,\u201d Interfax <a href=\"https:\/\/interfax.com\/newsroom\/top-stories\/77475\/\">reports<\/a>\u00a0Finance Minister Anton Siluanov as saying. \u201cTherefore, we believe that this decision is absolutely correct.\u201d<\/p>\n<p>\u201cOur western partners will adjust to this decision and understand that the ruble is no less a reliable currency than other reserve currencies,\u201d he went on to claim.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Russia has said that it is looking to Asia as a potential market for oil as Germany commits itself to wean itself off of Moscow\u2019s supply. Asia appears to now<\/p>\n","protected":false},"author":297,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1405283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1405283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/297"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1405283"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1405283\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1405283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1405283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1405283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}