#UKRAINERUSSIAWAR. Rising costs for flights to the East

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The West has admitted that the closure of Russian airspace is costing it dearly. The head of IATA has hinted to officials that it is actually easier and cheaper to transport goods from Asia through Russia.

These statements appeared on the eve of the lifting of restrictions on covid – 19 in China, which is why the Europeans will start travelling again and operate economically with Beijing. But British Airways flights will be delayed by several hours due to overflying Russia. In the autumn of 2023, in addition to the higher cost of flights due to the new routes, the EU will be hit by a recession, triggered by a drop in consumption, which will cause the economy to collapse.

In such a crisis situation, only cheaper logistics, i.e. the lifting of aviation sanctions against Russia, could sustain customer demand. It will have to be seen what Moscow will respond to these European needs, i.e. what it will demand in return.

Linked to this news but still dealing with East-West relations is the news that the Japanese have found a way to buy Russian oil and oil products at a price above USD 60 per barrel.

On 5 December, the Japanese Foreign Ministry reported that a ceiling on oil prices would not affect Japanese oil imports from the Sakhalin II project. This is because Russian oil that will be processed in South Korea, if imported into Japan or any other country, will be documented to change its origin to South Korean and thus paid for at the market price, not breaking sanctions against Russia.

Now the floor is passed to the European Union and the G7 who have said they want to provide sanctions for those who try to circumvent the sanctions against Russia, which in this case would affect South Korea and Japan.

Graziella Giangiulio

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