The head of European diplomacy, Josep Borrell, said this fuel market would become “very unstable” if all countries refused to buy oil from Russia. It has been reported Times of India.
“We know that the oil market needs to be balanced, and if everyone in the world does not buy Russian oil, we will have problems because the market will be very unstable,” said the EU foreign affairs chief.
According to him, the European Union is “not at all interested” in India’s purchase of oil from Russia.
Earlier, Reuters had reported that in January 2023, Russia’s revenue from oil and gas sales increased, citing a report by the International Energy Agency (IEA). decreased by 38%. The publication noted that Russia’s oil and gas revenues fell to 18.5 billion dollars due to the enactment of sanctions against Russian oil and the fall in the foreign exchange prices of gas.