Bloomberg: Half of Russian oil production will be bought by other countries after the Western embargo
Russia will find new markets for half of its crude oil production, which the European Union will reject as of next December,” Bloomberg Agency reported.
According to the agency, Indonesia, Pakistan, Brazil, South Africa, Sri Lanka and some Middle Eastern countries can buy up to 1 million barrels of crude oil per day this winter from Russia.
Bloomberg report added that “only the countries of the latter region can import up to 500,000 barrels of Russian oil per day, and these countries will have the opportunity to redirect some volumes of raw materials for export”.
Last week, it was reported that “the United States and allies from the Group of Seven (Britain, Germany, Italy, Canada, France, Japan and the United States) and the European Union will impose a ban on the shipping of Russian oil on December 5 and oil products on February 5”.
At a time when Russian energy-related trade exchanges are increasing with countries, the most important of which are China, India, Iran and Saudi Arabia, the Russian president confirmed that his country would “stop gas and oil shipments if a price ceiling is set”.
