Oil embargo: Despite sanctions, Russia is still making good money from its oil. But replacing Europe as a customer is impossible

Russia continues to export a lot of oil – but embargo and sanctions will change that in the medium term. Why Russia is dependent on Europe in the oil market. Bernd Ziesemer

On March 22, the “Beijing Spirit” was fully on course for Philadelphia, two-thirds of the way from Murmansk in Russia had already been completed. But south-west of Iceland, in the middle of the Atlantic, the 274 meter long and 48 meter wide supertanker suddenly veered 90 degrees to the southeast, towards Gibraltar.