Czech industry profiting from Russian oil sanctions loophole, research reveals
One company in particular has earned €1.2 billion in extra profits, despite alternatives being available. The Czech Republic, one of Ukraine’s closest allies, has let oil refineries earn over a billion euros in surplus profits through discounted Russian fuel purchases despite alternatives long being available, new research seen by POLITICO shows. The conclusions come in a report published Monday by analysts at the Center for the Study of Democracy and the Centre for Research on Energy and Clean Air. They found that “the Czech Republic has spent over €7 billion on Russian oil and gas — more than five times the €1.29 billion it has provided in aid to Ukraine.”
Source: https://politico.eu/article/czech-industry-russia-oil-ukraine-fuel-surplus-aid-sanctions/