Russia’s Shadow Fleet, by Bill Bonner and Joel Bowman

Everybody has figured out how to game U.S. sanctions. From Bill Bonner and Joel Bowman at

600 tankers carry Russian oil around the world, India imports ‘soaring,’ as USA drains its Strategic Petroleum Reserve…

Bill Bonner, reckoning today from Youghal, Ireland…

How are all those sanctions working out? Bloomberg reports:

Russia Did Most Oil Drilling in a Decade Even as Sanctions Hit

Another headline tells us that India’s imports of Russian oil are ‘soaring.’ And here’s

Russia’s Rail Freight Volumes Heading East Exceed Westbound Freight For The First Time      

Russia’s Eastbound rail freight shipments exceeded westbound shipments for the first time in 2022, at 80 million tonnes compared with 76 million tonnes, according to Russian Railways (RZD) Chairman Oleg Belozerov, commenting during a meeting with Russian President Vladimir Putin.

The reversal shouldn’t really be a surprise as the European Union has reduced access to its markets by Russia and blocked passenger trains. However, it does symbolize the extent of the ‘Pivot to Asia’ that Russia has gone through in little under 12 months, itself a quite remarkable feat.

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