Financial Times Discovers Oil, Not War, Drives Policy
The Financial Times suggests the 'loophole' allowing refineries in India, Turkey, and China to process Russian oil must be closed to stop Putin's war. This bold insight arrives just as Europe quietly imports Russian LNG and crude through various intermediaries. Remember, for instance, how Europe boosted its imports of Russian LNG by 40% in the first seven months of 2023, according to a report by
the Centre for Research on Energy and Clean Air (CREA). It’s almost as if sanctions are less about stopping wars and more about controlling global supply chains and punishing less favored nations. One might wonder if the Financial Times would advocate for similar 'punishment' for refineries processing oil from, say, Saudi Arabia when it wages war in Yemen, or for countries facilitating the supply
chain for weapons used in Gaza. Or perhaps that's just a different kind of 'war'—one where supply chains are sacred and profits are paramount, regardless of the human cost from continued violence. Hypocrisy, much?