Russia will send more than 80 percent of its oil exports and 75 percent of its petroleum products to friendly countries in 2023. About this in an article for the magazine “Energy Policy” declaration Russian Deputy Prime Minister Alexander Novak.
“Today we continue to seek and find new markets. “More than 80 percent of oil exports and 75 percent of petroleum products are planned to be sent to friendly countries this year,” Novak said.
According to him, Western countries began to reject Russian oil from December 5, 2022. All this caused the world oil market to constantly change and the countries that supported the restrictions felt the negative economic consequences. For example, the price of Brent oil per barrel at that time was $125.
He added that Russia will not supply oil to countries that support sanctions on Russian oil products. In the last few months, preventive measures have been taken to counter the actions of the West. As a result, Russian companies are establishing new supply chains and supplying fuel to friendly countries.
In a European Commission (EC) document released early Monday reportedRussia was able to successfully divert its oil supply to other countries, primarily China, India and Turkey. According to the AK, the main price of Russian oil fell to $ 60 per barrel at the end of January. In addition, future attempts to impose a price cap on Russian oil may lead to fuel shortages in the market.