Russia continues to find creative ways to circumvent Western bans. According to the CREA (Centre for Research on Energy and Clean Air) report, the Russian Federation has sold nearly $2 billion worth of oil to Western countries through intermediaries. This figure shows the ingenuity with which the Kremlin keeps its economy afloat despite the restrictions.
An effective circumvention of Western sanctions
A report published by CREA (Centre for Research on Energy and Clean Air) reveals that Russia has sold nearly $2 billion worth of oil to Western countries despite sanctions imposed by the United States. To achieve this, Moscow has relied on intermediaries, including Turkey, which refines Russian oil before exporting it to Europe. Kpler's analysis shows that Turkey is not the only one playing this key role: India, another BRICS member, has also imported nearly 89,000 barrels of Russian oil, which it then redirected to other markets. Thus, “Russia continues to maintain its oil exports at high levels, despite Western sanctions,” we can read in the report.
This circumvention of sanctions confirms the existence of a sophisticated and well-organized network of intermediaries that allows Russia to maintain its export flows. Turkey, in particular, appears to play a central role in this mechanism. Turkish refineries, which buy Russian oil at discounted prices, have subsequently seen their sales to Europe increase. It is increasingly clear that sanctions are failing to prevent Russia from generating revenues through its energy exports.
The strategic role of BRICS in this energy reorganization
Beyond simply circumventing sanctions, Russia has been able to count on the support of its BRICS partners, notably India and China, which continue to buy Russian oil despite American pressure.BRICS play a key role in the emergence of a new trade architecture that circumvents the hegemony of the US dollar“, underlines the CREA report. This strategic reorientation goes beyond the circumvention of sanctions: it aims to redefine the rules of global trade in energy.
With Saudi Arabia joining the organization this year, the BRICS’ influence on the global oil market is set to increase significantly in the coming months. Western sanctions will be less effective, and the use of local currencies, such as the Chinese yuan, in energy transactions could become a reality. This would clearly undermine the dollar’s dominant position in international trade.
This sale of oil by Russia, despite Western sanctions, is only one symptom of a deeper transformation underway in the global economy. The growing role of the BRICS in energy trade and their desire to reduce dependence on the dollar herald major changes for the future of international trade.
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