Sanctions against Russia - sure - but EU needs their hydrocarbons.
http://www.eia.gov/countries/analysisbriefs/Russia/russia.pdf
And who buys Russian hydrocarbons... WESTERN EUROPE (& China)
84% of their 7.2Mmbopd went to European countries - particularly GERMANY @700Mbopd (check the chart)
Likewise Natural Gas exports with Germany (24%), Eastern Europe (24%), Turkey (19%), Italy (11%), UK (6%), France (5%) and other Western Europe (10%),
Can't see old Angela supporting EU initiative to boycott Russian Hydrocarbons - for that matter can't see the EU even putting forth such a proposal. Hollow sanctions such as travel bans ... who cares. Asset freezes may hurt a little.
Might not be as price disruptive as one thinks. Shooting war on the other hand....
How much of ROC's production is hedged and how much is spot?
ukraine, page-2
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