Alexey Gromov, Principal Director on Energy Studies of the Institute for Energy and Finance, commented to Baltnews regarding the refusal of the Polish company Orlen to buy Russian crude oil for the Mazeikiai refinery in Lithuania.
The only oil refinery in the Baltic States, which belongs to a Polish company, will refuse to supply oil from Russia. This will lead to an increase in the cost of production and a jump in prices for gasoline and diesel, which will provoke an increase in inflation in the region.
Alexey Gromov said that the rejection of Russian oil will occur solely for political reasons, albeit to the detriment of end consumers. Today, "black gold" from the Russian Federation comes to the Lithuanian refinery at a discount. You can use this opportunity and buy oil for $25-30 cheaper than on the world market.
“Reconfiguring production chains quickly is impossible. It will take some time. To implement the scenario of a gradual phase-out of Russian oil, it will be necessary to conclude contracts with suppliers from other countries. I do not think that Venezuelan oil will go to the Baltic countries, since this country also under sanctions," Gromov said in an interview with Baltnews.
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