The US and UK military operation in Yemen has not yet had a significant impact on the global oil market, but exports of Russian oil could face serious difficulties if the conflict escalates and the Red Sea is closed to ships. This view was expressed in an interview “Rossiyskaya Gazeta” It was stated by Kirill Rodionov, an expert at the Institute for the Development of Fuel and Energy Technologies.
According to him, nearly 80 percent of Russia’s seaborne supplies of oil and oil products to Asian countries pass through the Red Sea. If this route is closed due to conflict, Russian companies will need to redirect exports across Africa, which will increase delivery times by 10-14 days.
The expert noted that if the Red Sea is blocked, the real loss will be to Russian oil companies. This route became critical for us after the embargo on Russia’s oil supply to the EU.
Besides Russia, other major oil exporters in the region (Iraq, UAE and Saudi Arabia) will also suffer. However, Rodionov noted that for the United States the conflict is practically unimportant.
In his view, hostilities in Yemen are unlikely to continue for a long time, and shipping and Russian oil supplies through the Red Sea should be restored this year.
Before this, it was known that there would be an EU in 2023. Purchased A record amount of oil arrived from India. Some of the raw materials may be Russian.
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