Will the EU pull out a Russian oil knife? Operate in Germany (CG)
If Korea joins the introduction of the oil cost ceiling technique and President Putin’s remarks turn into truth, the supply of Russian oil and gas will inevitably be minimize off.
Having said that, the govt and the oil refining business clarify that the percentage of Russian vitality released into Korea is tiny and the direct impact is not major.
An official from the Ministry of Trade, Business and Strength explained: “Dependent on previous calendar year, Russian imports represented 5 to 6% of total gas imports. We are intently checking the pattern,” he stated. .
As for crude oil, he extra, “The share of oil imported from Russia proceeds to lower and the quantity is not large, so there will be no impression on source and demand from customers.”
In accordance to the Korea Petroleum Association, in July of this 12 months, crude oil from the Middle East accounted for the highest share of crude oil imported from domestic refineries with 72.7%.
The share of Russian crude oil was only 1.04%. The share of Russian goods, which arrived at 5.5% in January, started off to decrease immediately after the invasion of Ukraine and dropped to all-around 1.% just after Might.
As a final result, even if the Russian strength source is slash off, the actual effects on Korea is not predicted to be considerable.
Of system, if Russia proficiently bans all electricity exports to nations around the world taking part in the cost cap system for domestic crude oil, there is a higher risk of fueling a rise in in general power price ranges these types of as oil and gas.
An oil refining industry official claimed: “The direct effect of Russia’s retaliatory actions on Korea will be restricted.”
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2022/09/07 21:52 Ship