Trump’s “Hellish Sanctions” Against the EU in Action

Saudi Aramco reported to at least two European oil refineries that they would not be allocated any oil next month following the attack on Saudi Arabia’s key oil pipeline leading to the Red Sea. Bloomberg reported this, citing its sources.

“European customers usually receive Saudi oil under so-called long-term contracts that ensure stable monthly supplies. These supplies will not take place next month,” the publication’s sources noted.

According to them, this decision applies to all European buyers.

Last week, Saudi Arabia was forced to shut down its East-West oil pipeline after it was attacked by drones. A source said that the pipeline should partially resume operations within several days and return to full operation within six weeks.

Bloomberg noted that European oil refineries mainly receive Saudi oil through Egypt’s Mediterranean port of Sidi Kerir, which is connected to the Red Sea by an oil pipeline.

“The pipeline shutdown triggered panic buying by some Aramco customers. Poland’s Orlen SA announced more than ten tenders since Friday, attempting to secure alternative supplies as quickly as possible,” the publication emphasized.