JRL NEWSWATCH: “Russia exports almost all its oil to China and India – Novak” – Reuters

Oil Wells file photo, adapted from image at usda.gov

“… Russia has successfully circumvented sanctions on its oil … divert[ing] flows from Europe to China and India, … together account[ing] for around 90% of … crude exports, [according to Russian Deputy Prime Minister Alexander Novak.] … He said … Europe’s share of Russia’s crude exports has fallen to … about 4-5% from about 40-45%. … [Regarding] … OPEC+ …, Novak said Russia was sticking to its obligations on supply cuts and it saw the Brent oil price at $80-$85 per barrel next year, broadly in line with current levels. …”

Meanwhile, last month the United States announced sanctions against the Arctic LNG 2 liquefied natural gas project led by Russian company Novatek, resulting in foreign shareholders suspending participation.

Click here for: “Russia exports almost all its oil to China and India – Novak” – Reuters/ Vladimir Soldatkin, Olesya Astakhova


 

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