The risks of a decline in oil production in Russia this year remain, and the government plans to assess them in the near future, Russian Deputy Prime Minister Alexander Novak told reporters on February 10.
Yes, there are risks. But we will evaluate them in the near future.”Novak said, answering a related question.
On February 8, at a press conference, the Deputy Prime Minister of Russia said that the government would monitor the development of the situation related to the embargo of oil products and the maximum price during the next month.
He also noted that despite the imposition of sanctions in the European Union countries, Russia’s oil products continue to be in demand, citing the exclusion of some of its types of oil products from the maximum price as an example.
Remember that sanctions against Russia in the field of petroleum products came into force on February 5. These included the EU’s refusal to accept Russian oil shipped by sea. The G7 countries, Australia and the EU have placed restrictions on the price of oil from Russia for shipment at $60 a barrel, banning insurance for the more expensive oil.
On December 27, 2022, Russian President Vladimir Putin issued a decree banning the supply of Russian oil and oil products at prices limited by the ceiling imposed by EU countries.
Source: Rossa Primavera
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