Shadowing-Übung: UK waters down new Russian oil sanctions as fuel prices rise | BBC News - Englisch Sprechen Lernen mit YouTube

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Now Russia and China are renewing plans to build a major new gas pipeline during President Putin's visit to Beijing.
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Now Russia and China are renewing plans to build a major new gas pipeline during President Putin's visit to Beijing.
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The Kremlin says Putin and Chinese President Xi Jinping reached a basic agreement on the project,
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including on the route and construction plans,
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though officials say there is still no clear timeline.
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The move comes as Moscow grows increasingly reliant on China to buy its gas
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and help prop up Russia's economy during the war in Ukraine.
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Meanwhile, the UK government is facing criticism over its decision to loosen strict sanctions on Russian oil refined into diesel
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and jet fuel in third countries as prices rise.
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Officials say the move is a necessary response to the impact of the Iran war on global energy supplies.
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Well, we can speak now to Dr. Aura Sabadis,
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an energy expert for the Independent Commodity Intelligence Services.
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Good to see you this morning.
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Look, let's start with with this deal that we've had or this understanding that's been reached between Russia and China?
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Would this have happened without the conflict in Iran?
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Is that the sort of impetus that's changing long-term decisions here?
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Hello and good morning and good afternoon to your listeners.
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To be honest, I was expecting a lot more enthusiasm about this project,
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but when I read the statement,
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it felt a bit like a damn squib because I was expecting the stars to align on this long delayed project,
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the power of Siberia too,
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which is a project that has been discussed for at least 20 years,
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and which aimed to bring around 50 billion cubic meters of gas from the Arctic region of Russia down to China.
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As you correctly said, A discussion was held last year and a memorandum was agreed for the potential construction of this pipeline,
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but key issues were not agreed on at the time.
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And these issues related to pricing and to volumes.
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And personally, I was expecting to see more details related to these two.
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First of all, the Russians were expecting to get prices closer to the sort of prices
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that they were getting from European markets.
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And on the other hand,
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the Chinese were expecting prices closer to the Chinese market.
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But this is not, this hasn't happened.
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At least we haven't heard anything yet.
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So in other words, it sounds like sort of both sides playing hardball here.
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Is that why you think there's this caution?
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It's very difficult to say because both sides are in a position now to negotiate
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and to reach some compromise for a couple of reasons.
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China had depended on Qatar for about a third of its LNG imports.
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Now, as we know, with Qatar no longer exporting,
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that portion of LNG has gone.
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And we were expecting to see some movement potentially on this project to allow China to import more gas from elsewhere.
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Russia, on the other hand,
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is in an even deeper trouble because Russia has lost its gas market in Europe.
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And it's now facing the loss of a big market.
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So it was expecting to replace that with China, but it hasn't happened.
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So I expect here a couple of issues might have happened or a couple of reasons.
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Number one, either both sides expect a fast resolution to the Hormuz crisis,
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which means that at some point later this year,
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the situation will start to get back to normal,
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although that will happen relatively shortly.
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Secondly, they were not prepared to reach a compromise,
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even now in the current shifting geopolitical environment.
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And thirdly, and this is even more interesting,
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China may be looking to return to US LNG.
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And very interestingly, we actually saw,
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we actually seeing some LNG shipments coming from or heading from the US to China.
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And very, very briefly, if I could just interrupt,
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if I could jump in here very briefly,
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how significant is the US waiver on Russian oil exports and that UK announcement as well?
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Well, from a political point of view,
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it actually sends an awkward message,
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particularly a message related to Western coordination with regards to sanctions.
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Because let's not forget, the UK was the biggest cheerleader for Ukraine.
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It was one of the first countries to introduce sanctions against Russian coal,
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gas, LNG and oil.
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And now by refusing to close a loophole in this import of refined products made from Russian oil,
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it sends an awkward message,
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as I said, and Russia could speculate that to undermine Western credibility and unity.
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Awkward message.
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We'll leave it there.
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Dr. Ora Sabadus, energy expert for the Independent Commodity Intelligence Services,
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thank you very much for joining us.

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Wichtige Vokabeln & Phrasen

  • Pipeline - Leitung
  • Verfeinern - to refine
  • Fördern - to promote
  • Markt - market
  • Verhandlung - negotiation
  • Einverständnis - agreement
  • Preise - prices
  • Energieversorgung - energy supply

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