HomeMediaLatest NewsEurope eased sanctions against Russian oil and petroleum products

Europe eased sanctions against Russian oil and petroleum products

07 February 2023

Belogoryev Alexey M. Research and Development Director, Director of the Center for Energy strategic analysis and forecasting

Alexey Belogoryev, Deputy Principal Director on Energy Studies of the Institute for Energy and Finance, commented on the prospects of export-oriented production of petroleum products in third countries based on Russian crude oil and blending of Russian petroleum products to Business FM:

"Russia is winning in terms of retaining sales markets or entering new sales markets. First of all, in terms of crude oil and fuel oil. But this does not solve our problems with the supply of diesel fuel, because there are no market niches for such volumes of diesel that we supplied to Europe. When they will appear, it is not very clear. But in general, of course, this will support our physical export of oil and petroleum products due to the loss of a certain part of the cost."

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