Its not loophole, its made with purpose

@robertojofre15

Жыл бұрын

Exactly.

@deezeed2817

Жыл бұрын

Enough oil for 7 million automobiles. You imagine if that loophole gets closed then oil prices will skyrocket and Biden will be in serious turmoil.

@zzmmz3789

Жыл бұрын

So Europe continue to suffer while USA profited? Lol idiots rekt!!

@dwiatmokod.a9563

Жыл бұрын

Yep..

Most Italian fashion houses do this with their clothing bags and shoes, they make them in Romania, Slovakia and China and then “finish” the goods in Italy thereby stating “Made in Italy”. This isn’t surprising. Great job WSJ! Hopefully this changes things.

@Solid_Snake88

Жыл бұрын

I AM SO SORRY MY COUNTRY IS ALLOWING THIS 😭

@nikoid3631

Жыл бұрын

That's right, selling using the country's name for a certain brand is more in demand. We don't know whether the material is of good quality or not and where the labor is coming from, what is certain is that the labor is cheap and of average quality and being sold by the Made in Italy brand is more profitable.

@nyakwarObat

Жыл бұрын

@@nikoid3631 almost everything you buy and enjoy, chocolate, car, computer tech etc, the labour is cheap and most of those people deprived. Almost everything

@bmwlane8834

Жыл бұрын

The same thing happens in the US. You can place a graphic or label, packaging so on. It's stupid but allowed.

@coscinaippogrifo

Жыл бұрын

@@Solid_Snake88 It's not "your" country, it's the system, every developed country does this: iPhones aren't made in the US either, and they even charge the full mark up without even bothering to "finish" the product in the US at all

I'm waiting for a similar 'detailed' reportage of WSJ on "why oil prices are at record high and how the choking of Venezuelan, Iranian oils by the USA has caused Global recession" Thanks.

@manatee2500

Жыл бұрын

Maybe you can enlighten us about PDAVSA’s production and then how much VZ has to ship to China to repay its debt? Thanks

@zzmmz3789

Жыл бұрын

No global recession. Only usa and europe are collapsing

Great investigative work!.. But, do people really think the people who were responsible for writing these sanctions were unware of this loophole? Its just realpolitik, every nation's self interest comes first irrespective of what their respective mouthpieces say..

@duran9664

Жыл бұрын

🤢🤮WSJ seems at time not more than a tool for the saudi royal mafia to distract & cover up its crimes. 🤦‍♀️ Saudi regime has been buying Russian oil for months now & sending it to be refined on American soil in Port Arthur, the largest refinery in North America that is 100% owned by the saudi royal mafia. ⚠️ In short, most of the gas in American gas stations, especially Shell & Texaco, is actually from Russia & Saudi Arabia NOT American.

@clemensmosig7612

Жыл бұрын

Maybe, but even if they do know, this report brings attention to the topic and puts them under pressure. So a very important video either way

@tiberianexcalibur

Жыл бұрын

It’s all for show to make our gov looks like the good guys and support to Americans and not stand by doing nothing.

@hawkingstar1698

Жыл бұрын

Every *government’s* self interest. The people at large generally don’t know, that’s why these videos are useful

@Grant80

Жыл бұрын

Oh they’d know. The question is who wrote them what are they getting in out of this ie kickbacks?? Ask Biden.

Italian refinery adds `democracy molecules` to Russian oil so it’s allowed to be sold further 😂

@shreyasbapte3758

Жыл бұрын

😂😂

If this helps keep fuel prices low at the pump, majority of Americans won’t care.

@justinbarion2269

Жыл бұрын

Yeah they are pretty spineless

@okman9684

Жыл бұрын

@@nigelcraig3949 russa helping donbas = us helping Israel Like people don't know how much morality is there that they gonna starve their families to protect

@blyatiful4157

Жыл бұрын

they wont question anything as long it keep them safe in bubble

@user-bg2oi4bz3p

Жыл бұрын

Bidung needs to turn US pipelines back on.

@yeetian2774

Жыл бұрын

@@justinbarion2269 50% Americans support Trump, Putin and Russia.

You left out the fact that Saudi Arabia has been importing 48,000 barrels of Russian oil per day, processing and selling it. MBS is buying it at a discount from Russia, and selling it to us at a premium.

@duran9664

Жыл бұрын

🤢🤮WSJ seems at time not more than a tool for the saudi royal mafia to distract & cover up its crimes. 🤦‍♀️ Saudi regime has been buying Russian oil for months now & sending it to be refined on American soil in Port Arthur, the largest refinery in North America that is 100% owned by the saudi royal mafia. ⚠️ In short, most of the gas in American gas stations, especially Shell & Texaco, is actually from Russia & Saudi Arabia NOT American.

@krto7663

Жыл бұрын

Venezuelan oil does the same in colombia, gets refined in colombia to avoid sanctions

@mohdothmansaid7618

Жыл бұрын

Import and Export at the same time , nothing new .

@azzuri09

Жыл бұрын

Good and smart business from Saudi I guess. Why sell theirs when they can get cheaper and sell it at premium lol

@carkawalakhatulistiwa

Жыл бұрын

The war in Ukraine did not make oil prices rise but sanctions against Russia, Iran, Venezuela made oil prices rise. and now Biden wants an oil war with OPEC and Saudi Arabia

It seems odd that Lukoil is not a specially designated national. This is compelling reporting and certainly appears to be a meaningful loophole that undermines the goals of US sanctions against Russia.

@Simon-sw4ov

Жыл бұрын

Depends on the goal of the sanctions. I don’t think they’re only of economic character.

@Cordycep1

Жыл бұрын

there are alot of american that works or Lukoil

@buraktatar

Жыл бұрын

The Sanction is an important part of the US proxy war against the European and Russian people. Make belief that the US has moral ground at a war where they started.

@phantom1076

Жыл бұрын

The fact is that Russia sells raw materials and fossil fuels, most of which are either extremely hard or impossible to replace. It's naive to think that people wouldn't find a way around the sanctions. We've been trying to for years to stop drugs from going into our country without any success, and drugs are hardly considered an absolute necessity.

@asherasator

Жыл бұрын

It's all theatrics.

This is what is expected of WSJ well done!

@tedmoss

Жыл бұрын

How did WSJ stop this from happening?

@CollectiveWesterner

Жыл бұрын

@@tedmoss They are bringing this terrible act to the attention of the public, who hopefully will cause enough of a commotion to get it stopped. We cannot be a part of funding terrorism.

It’s down right hypocritical to question India on why Indian companies are able to by Russian Oil while American companies buy the same and sell it to Americans at handsome premiums! Atleast India’s policy priority is energy security. US priority seems to be just jack up the prices internationally while letting American Oligarchs make money like no tomorrow!

@motog-rocks6544

Жыл бұрын

I will tell you a secret, the most russian crude buying was done by RIL and then promptly exported. PSU oil companies made minimal russian purchases because they don't have the nimbleness to make those spot purchases. Even better is that even WSJ has no guts to take RIL's name :D

@garrydimasa1964

Жыл бұрын

They act just like India but somehow claiming the moral high ground, which is ludicrous.

@Kiyoone

Жыл бұрын

shhhh you are not supposed to say it outloud. Idk why YT did not erased your comment yet

@user-sx7ef9nd2g

Жыл бұрын

@@motog-rocks6544 true

@ABHiSHEK-ex8kj

Жыл бұрын

@@motog-rocks6544 That's Great Because i have Shares of Both RIL and WSJ both

There are 4 directions in this world that is: North - East - Hypocrisy - South

Why should the US act as a global police anyway ?

@hmb9430

Жыл бұрын

Because it can, can your country can? Good luck with that.

@user-bz5io6ph8w

Жыл бұрын

WW1, WW2, 7 years war, and Kosovo war are some examples of why. Must be nice to be ignorant of history.

@AnuragSinha7

Жыл бұрын

@@user-bz5io6ph8w Hmm.. You didn't remind him of Vietnam and Iraq war. Those were fun too.

@user-bz5io6ph8w

Жыл бұрын

@@AnuragSinha7 looks like more just wars than unjust ones. But, point taken

@prof.leo0246

Жыл бұрын

@@user-bz5io6ph8w In short, glorified world ganster? got it.

The same is happening with India. Nayara Refinery is partly owned by Rosneft and they export refined petroleum products to Europe and USA.

If this loophole didn't exist, prices of petrol (or gas as known by the Americans) would be even higher.

Good for me :P Otherwise, I had to pay 10$ a gallon. Russia, send more oil to the US without violating sanctions. I want to pay 2.5$ a gallon again 😪😪

@tedmoss

Жыл бұрын

Patience, grasshopper, 50 million electric cars and it will be 99 cents.

Previously US was buying oil from India, origin of which is Russia. So this type of loop whole well designed to benefit certain countries, here Italy and the US, and punish the countries that don't want kiss the western feet.

@criessmiles3620

Жыл бұрын

We , Africans understood the game Reason why most of us stand with Russia 🇷🇺 in his fight against trained terrorists From west Africa 🦅

@nikoid3631

Жыл бұрын

right.

@jirachi-wishmaker9242

Жыл бұрын

*unknown origin, claimed as Russian by US.

@singularityraptor4022

Жыл бұрын

@Greek Shipping Tycoons: Everything M 0 $$ AD that's not how things work 😂😂😂

@tsmkcs12

Жыл бұрын

@Greek Shipping Tycoons: Everything M 0 $$ AD what drugs are you on.

Interesting and informative. Thank you.

And USA is telling EU,stop Russian Oil and Gas??? Ohhhh i forgot!!! USA oil company did 100 billion just in 3 month... 🙈

@tedmoss

Жыл бұрын

Don't look for winners and losers in this mess.

@elizabethnilsson1815

Жыл бұрын

....and all went to the people of US

Thanks god Russians have their refinery in Italy, otherwise the US diesel price might’ve hit 10 bucks per gallon

@tedmoss

Жыл бұрын

@António José Medeiros The oil god.

@seth7745

Жыл бұрын

We would have ran out of diesel already otherwise. We still might yet. The sanctions are hurting the West more than Russia. Jokes on us.

Wow, very well put video! Great job guys

Thanks for the insight and investigation.

@duran9664

Жыл бұрын

🤢🤮WSJ seems at time not more than a tool for the saudi royal mafia to distract & cover up its crimes. 🤦‍♀️ Saudi regime has been buying Russian oil for months now & sending it to be refined on American soil in Port Arthur, the largest refinery in North America that is 100% owned by the saudi royal mafia. ⚠️ In short, most of the gas in American gas stations, especially Shell & Texaco, is actually from Russia & Saudi Arabia NOT American.

War is big business

I'd be more interested in what is happening now, rather than what happened back in March. It takes months for these tankers to make the journey, and some product in the supply chain is already paid for. So it should come as no surprise that even turning off a tap takes a while for all flow in the supply chain to stop. Those ship to ship transfers far out in the ocean are more of a concern, the loopholes need to be closed.

It's not a question of it being a loophole for the US to get Russian oil. It's a matter of not breaking contract with Italian refiners who are refusing to stop using Russian oil. If the US stopped buying from the Italian refinery just because the oil was Russian, then they would be sanctioning Italian industry, not Russian.

@mermory5071

Жыл бұрын

Italy can get oil from other places you know

@yummychips_

Жыл бұрын

but... Italy is buying from Russia. Italy may be in an unfortunate position, but thats how sanctions work. If your industry can't or won't allign against and is directly tied to what is being sanction, your going to get sanctioned by proxy if you continue support it.

@wokeaf1337

Жыл бұрын

@@yummychips_ Italy is allowed to do so until 5th december.

@StanislavVilkov

Жыл бұрын

@@mermory5071 no they can't. every refinery is build for one brand of oil

@KanadianKing

Жыл бұрын

@@mermory5071 Sure.. ok. Just that easy huh? Kewl

Strangely when Italian leaders goes to US or other EU nations, nobody asking them why you are still buying Russian oil. But when Indian leaders travel to above mentioned places, those countries journalist including this channel's 'esteemed' and 'smart' journalist, suddenly start to ask this same question implying like all world's Russian oil imported by India. I wonder why these 'esteemed'' reporters are so short on memory.

@theresaadams7143

Жыл бұрын

I wish the reporters would ask America why are they buying uranium and fertilizer from Russia.

@tedmoss

Жыл бұрын

It is because of Indian corruption, no one trusts them.

People who passed the sanctions are fully aware of this

Well done WSJ!

Nice reporting

This is America.

Interesting, but you forgot to mentioned the price tags and profits made, to all of this.

great investigation!

@tedmoss

Жыл бұрын

Yes you led and it matters.

Famous saying - "Dont believe what they say, believe what they do...."

This is great journalism but an even better story would entail why we are so reliant on foreign oil.

Where did you get shipping bills and bill of landing?

Excellent journalism

My 20 gallon gas tank is definitely supporting Russia lol, hope they would give me a discount at this point

Keep it coming!

Did the US not know about the loop hole or did they know and don’t want oil prices to be raised even more

@ca6360

Жыл бұрын

ASK YOURSELF THAT AGAIN! OF COURSE THEY KNOW

Very Nice Not just Italians but Indian Refineries were doing same. Behind the scene American govt knows this very well that's why the loophole exists. They may not accept it officially.

This has to be stopped immediately

Nice video

Everybody is hellbent on making us pay $10/gallon. WE DON'T GIVE A HOOT where it comes from.

I’m all for electric cars, saving the environment, but as long as we still depend on fossil fuel, it was foolish not to approve Keystone.

@MobileLegendS-kn3gy

Жыл бұрын

A fool is always fool. What is need to run for those electric car's

@tedmoss

Жыл бұрын

Events may prove you wrong.

yeah right loophole. lets go brandon

What a surprise!

This is an example of US,s dual Nature 😒

@duran9664

Жыл бұрын

More screaming example 👇 🤢🤮WSJ seems at time not more than a tool for the saudi royal mafia to distract & cover up its crimes. 🤦‍♀️ Saudi regime has been buying Russian oil for months now & sending it to be refined on American soil in Port Arthur, the largest refinery in North America that is 100% owned by the saudi royal mafia. ⚠️ In short, most of the gas in American gas stations, especially Shell & Texaco, is actually from Russia & Saudi Arabia NOT American.

@faridhabibullah30

Жыл бұрын

No offense, you a pro russian?

But, we need all the supply we can get.

Gasp! What shock!

Good !

…and after December you’ll be here complaining about $7 a gallon gasoline.

If the loopholes will be closed, it will be done conveniently after the midterm elections for that politically convenient cheaper gas prices

@tedmoss

Жыл бұрын

You put the frog in a warm pot of water and slowly heat it up, that way he doesn't know he is being cooked and doesn't jump out..

Why I'm not surprised?

Wouldn't it be terrible if that refinery in Italy had a fire or an explosion. Is there a loophole for that?

Close the loopholes then. Good job Wall Street Journal.

How did Italy import it in the first place? Don't they have sanctions on the raw crude?

Please the profit of Exxon and other Us oils companies in the third quarter…it’s unbelievably amazing in their history. 😂

Always a way around everything

Funny how prices are still up

So they wont be running out in 20 days or whatever it says on news?

Well, this is what we mean here in the USA about greedy corporations selling out our freedoms.

So the US are being hypocrites? Surely not...😂

E nós aqui no Brasil!! Nos ajude socorooooo

who would have thought of something like that?!😯

is designed this way, so the oil price don't go up again. but it will as reserves runs out. if you tell 7 million people they cant drive see what happens

loopholes? noooo : )

Why are prices so high then ?

Raise your hand if you are surprised that Exxon is taking an advantage of this. Anyone? No? No wonder. :)

@nikoid3631

Жыл бұрын

Yup. Exxon will buy oil from all countries that import from Russia. America can't even sanction the whole world because it's only a matter of oil and if it sanctioned that country, of course this would disrupt the economy of goods and services for America itself. HA HA

Just be thankful and continue supporting the good guys. Fill'er up!

Super good news nobody in the Europe is aware. Amazing supply chain strategy

Only til December 5th and February for refined

That's such an incredibly low amount of oil. 7 million car gas tanks worth of gasoline since march? There were 286.9 million registered cars in the US in 2020. That's hardly a blip of supply and it looks to be getting even smaller come December 5th. Am I supposed to be outraged?

@duran9664

Жыл бұрын

🤢🤮WSJ seems at time not more than a tool for the saudi royal mafia to distract & cover up its crimes. 🤦‍♀️ Saudi regime has been buying Russian oil for months now & sending it to be refined on American soil in Port Arthur, the largest refinery in North America that is 100% owned by the saudi royal mafia. ⚠️ In short, most of the gas in American gas stations, especially Shell & Texaco, is actually from Russia & Saudi Arabia NOT American.

@alanmay7929

Жыл бұрын

Lol….. it’s still a gigantic amount of fuel

@AccGrad2012

Жыл бұрын

@@alanmay7929 Maybe for one person or 1 major city for a day, but for an entire nation it wouldn't be anything to sniff at.

@alanmay7929

Жыл бұрын

@@AccGrad2012 it’s still a massive amount of fuel doesn’t matter how much it is! Also everything is almost related to fuel prices which are even higher now so if this fuel was not! It would have been worse

@AccGrad2012

Жыл бұрын

@@alanmay7929 It very likely had little to absolutely no effect on fuel prices on a national scale. Spend a little time looking at how much crude and fuel is shipped daily in pipelines or refined in US refineries and compare to this... it's completely negligible. Especially since this has been over the past year. I'll give you that it would have a measurable impact if it were one city and one day... but spread out over the last 9 months across the gulf and east coast... yeah no.

Ha! How about that

Russia is a HUGE country in terms of land mass and it produces products which are crucial to the world. I don't even understand this stupidity of sanctioning such huge land mass like this. It is just punishing the low income consumers around the world. Its not about right or wrong, its about the NEED. In reality, world cannot afford these sanctions in the long run. Its just my opinion on this.

5 million barrels of oil for the year is NOTHING compared to worldwide daily consumption.

How much oil is/was involved?

Thank you for let us know. I will stop using EXON Gas

Russia owns only 20% shares of Lukoil. And 50% of the shares are owned by foreign investors. The thesis that Lukoil is Russian company is nothing more than a manipulation. Therefore the video is useless.

3:13 why not start with that?

The US should continue to buy Russian crude but at a 50% discount! 🇺🇸 🌎 🇺🇲

Stop buying from Lukoil gas stations!

Except this company only has a minority of its shares actually placed under direct Russian control, while more than half are owned by foreign investors

American has refined oil shortage,and mostly diesel,the authorities knew this before you reported about it,they just turned a blind eye for economic reasons.

A lot more loopholes than this. I work for a US Fortune 100 company whose Russian branch still sells products to China.

for the west day without hypocrisy is day wasted. Even world is dependent on russia for uranium even Us😂 Question is that the loophole was intentionally created??? West was barking moral values when India bought oil for their interests. Indian foreign minister slapped western media for their hypocrisy . Europe media BBC was laughing when india said we have our interests , now they are silent, india is laughing at the UK's economy

@TheMagicJIZZ

Жыл бұрын

You'll be laughing when December happens when India can't get Russian oil by ship

@alpeulpe

Жыл бұрын

@@TheMagicJIZZ Why tho.

Nice, love my XOM stock. Please keep buying the cheap gas, I love my quarterly dividends.

Hahaha typical American Hypocrisy

A March 4, 2022 Reuters' article reports that the ISAB refinery in Sicily is owned by Russia's Lukoil company. A few paragraphs later the same article states that ISAB is owned by Swiss -based trading and supply group Litasco SA and that Litasco is controlled by (Russian) Lukoil. With so many different holding companies moving oil all over the world, it's no wonder Americans don't really know where their gasoline comes from. Not that it matters. To quote Cliff Robertson's character at the end of the film, Three Days of the Condor: People aren't going to care how we get it (oil), they're just going to want us to get it for them.

Heavy. I emailed the Whitehouse and my congressman. Thanks WSJ.

@tedmoss

Жыл бұрын

That's going to do a lot of good.

Instead of imposing sanctions why doesn’t the USA encourage a peace deal between Ukraine and Russia

Good

Irving Oil St John New Brunswick. Lets see where theirs comes from.

check the trans-Pacific shipments going to refineries in northern Mexico for cheaper refining than shipped across the border. Just saying.

great journalism! This is what WSJ should be, getting some facts and truth with an impressive investigation! Unlike the so called "tech podcast" recently started in WSJ, no depth in the content purely just talks about topics out there with so call "interview"

funniest war in all war history.......thanks to youtube and social media we are now learning the real truth about wars.

@theresaadams7143

Жыл бұрын

America is buying uranium and fertilizers from Russia. Lol. We are the fools of war

Good information and nice explains.

and they tell INDIA not to buy form Russia

So flukkin what ?!?

It's enjoying sweet crude

Someone working in the cooperate going to get fire for share cooperate information to media 😄

Nice, but I guess that filling up 7MLN cars in a country that has 300MLN cars registered per year is really a drop in a sea (of oil)...