Saudi Arabia Buys Russian Oil and Resell It to Europe | #SaudiArabia #Russia #Oil #Energy #Europe
Saudi Arabia has been buying Russian oil at a discounted price and reselling it to Europe, according to a report by Reuters. The report, which cited unnamed sources, said that Saudi Arabia has imported about 1 million barrels of Russian oil per day since the start of the war in Ukraine.
The report said that Saudi Arabia is buying Russian oil at a discount of about $20 per barrel. This is because Russia is facing sanctions from the United States and other Western countries, which have made it difficult for Russia to sell its oil to other markets.
Saudi Arabia is reselling the Russian oil to Europe at a higher price. This is because Europe is facing a shortage of oil due to the sanctions on Russia. The report said that Saudi Arabia is making a profit on the deal.
The report said that the deal between Saudi Arabia and Russia is a sign that the two countries are working together to undermine the sanctions on Russia. The report also said that the deal could lead to higher oil prices in the global market.
The deal between Saudi Arabia and Russia is a significant development. It shows that the two countries are willing to work together to undermine the sanctions on Russia. This could lead to higher oil prices in the global market. It is also a sign that the sanctions on Russia are not having the desired effect.
It is important to note that this is just a report, and it has not been confirmed by either Saudi Arabia or Russia. However, if the report is true, it is a significant development that could have a major impact on the global oil market.
