NEW DELHI: Russia is threatening to use oil from neighboring Kazakhstan as a weapon against European countries supporting Ukraine. A court order this month to close the export terminal on the Black Sea for a month is a clear warning to Europe of Russia\u2019s leverage.
\nOn Tuesday, a Russian judge in the town of Novorossiysk on the Black Sea coast ordered the Caspian Pipeline Consortium to halt shipments for 30 days. Suspension of operations was sought as punishment for a number of \u201cdocumentary violations\u201d under CPC\u2019s Oil Spill Response Plan, which the company had been given until the end of November to rectify.
\nAlthough the facility is in Russia, about 90% of the crude that passes through it comes from Kazakhstan. That makes it an ideal weapon in President Vladimir Putin\u2019s arsenal to inflict economic pain on his tormentors. Halting CPC will remove as much as 1.5 million barrels a day of much-needed crude from the global oil market, while barely denting Russia\u2019s own flows.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: Russia is threatening to use oil from neighboring Kazakhstan as a weapon against European countries supporting Ukraine. A court order this month to close the export terminal on the Black Sea for a month is a clear warning to Europe of Russia\u2019s leverage. On Tuesday, a Russian judge in the town of Novorossiysk on the Black Sea coast ordered the Caspian Pipeline Consortium to halt shipments for 30 days. Suspension of operations was sought as punishment for a number of \u201cdocumentary violations\u201d under CPC\u2019s Oil Spill Response Plan, which the company had been given until the end of […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-504776","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/504776","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=504776"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/504776\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=504776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=504776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=504776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}