Alexander Novak, the deputy prime minister of Russia, emphasised the delicate nature of the position on the world oil market because nearly 20% of the world’s oil production was produced by Russia, Venezuela, and Iran, which imposed sanctions.
The following are some of the Russian official’s most notable remarks made during his Wednesday participation at the “Russian Energy Week” forum:
The three countries that imposed sanctions—Venezuela, Iran, and Russia—produce nearly 20% of the world’s oil.
As it works to implement schemes to redirect resources to the east, Russia is planning to impose an embargo on oil supply and oil products on the European Union.
– The right move was made by “OPEC+” to lower oil output in order to balance the market.
–
A technical defect occurred in the Polish section of the “Drogba” oil pipeline, but it seems that the issue has been resolved.
Russia is willing to discuss market conditions with oil consumers.
The energy situation in Russia is currently stable. Energy supplies to the east will be reintegrated as Russia’s ports expand their capacity.
Russia notes the interest of Turkish companies to increase the volume of its purchases of Russian oil.
Origin: Tas.
Regarding the state of the energy market, Novak said that nations who produce 20% or more of the world’s oil are subject to sanctions.
About Author
