Sergey Kondratiev, Deputy Head of the Economic Department of the Institute for Energy and Finance, commented on the situation in the world commodity markets to the internet portal RBC Plus One.
Sergey Kondratiev believes that Western countries' refusal of Russian fuel will not be quick. “It is very difficult to replace Russia in the world markets. Other countries have almost no free capacity for oil and natural gas production, not to mention the difficulties with logistics. And for the same reason, even with coal, the situation will probably be quite difficult,” the expert told Plus-one.ru.
“European countries depend on our supplies. And it will be difficult to completely switch, for example, to liquefied natural gas. Other suppliers, such as Qatar, Algeria, Nigeria, are working at their best,” the analyst adds.
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