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Orlen Unipetrol has purchased large amounts of cheap Russian crude oil, CSD note...

The Czech Republic spent 5 times more on the purchase of Russian gas and oil than to help Ukraine

Orlen Unipetrol has purchased large amounts of cheap Russian crude oil, CSD notes. This strategy contributed to the profit of 1. 29 billion euros. The Czech Republic has spent more than € 7 billion in Russian oil and gas, ie five more than € 1. 29 billion, which it provided as assistance to Ukraine. About it writes the Center for the Study of Democracy (CSD).

Imports of oil to the Czech Republic, which, together with Hungary and Slovakia, used the deviation from the EU's ban on importing Russian oil, brought Kremlin more than 2. 3 billion euros. In 2023, the Czech addiction on Russian crude oil increased to 60%, despite the government's intentions to gradually abandon it.

The only oil refinery in the Czech Republic, the Polish company Orlen Unipetrol, used the exemption from the EU ban on imports of Russian oil to purchase large volumes of discounted Russian raw oil, which was on average 21% cheaper than Azerbaijani oil in 2023. This strategy, in the Center, contributed to the profit of about 1. 2 billion euros.

However, during periods of high dependence on Russian raw oil savings at the expense of cheaper Russian oil did not affect the reduction of consumer prices for gasoline in the Czech Republic. The Czech Republic can completely replace the supply of Russian crude oil, using the transalpine oil pipeline as much as possible, increasing the import of petroleum products from Germany and using huge raw oil reserves of the country, emphasizes at the Center for Democracy Study.

Similarly, the Czech Republic can completely stop buying Russian gas, as it has many alternative supplies from Norway and the global LNG market. In order to complete its strategic separation from the Russian oil, the European Union must close all sanction gaps, including exceptions for the Druzhba Pipeline and Lazivka, which allowed third countries to maximize the purchase . We will remind, despite the sanctions, tankers with Russian raw oil continue to go to European ports in the Baltic Sea.