Does anyone know if NATO countries are still being supplied with Russian gas and oil? - thanks
Regards
Jagdflieger
They are. Disentangling Europe from Russian oil & gas imports will take a long time.
I think only the US and UK (and maybe Canada) have enacted/introduced Russian oil & gas embargoes. Most other NATO states are seeking alternative sources (primarily Middle East and Nigeria), but getting those contracts going and then arranging export/import is not something that happens overnight. Think months, rather than days or weeks.
Russian oil exports are already starting to fall precipitously - it looks like March exports will be down by about a third compared to the average of the previous 12 months. Russia exported an average of 4.4 million barrels per day in 2021, but this looks likely to drop to about 3 million barrels for March (and probably for April too).
There's a couple of flies in the sanctions ointment though - India and China. Indian oil buyers are snapping up Russian crude at record discounts - reportedly $25-30 a barrel below pre-war market levels. India imported 6 million barrels from Russian in the first three weeks of March, or about half of what it imported from Russian in all of 2021.
China has also started to buy more Russian oil and gas, although there are a couple of things that are keeping Chinese buyers from greater imports. Russia want to be paid in Rubles, China wants to pay in Yuan. Which means they'll probably both have to do the exchanges in USD or EUR.
Medium term, you'll see most of Western Europe cut Russia out of its energy mix. Only problem is that they then have to do business with states like Saudi Arabia and Qatar.