HomeMediaLatest NewsThe rapid recovery of Russian oil exports

The rapid recovery of Russian oil exports

Gromov Alexey I. Principal Director on Energy Studies, Head of the Energy Department

Alexey Gromov, Principal Director on Energy studies at the Institute for Energy and Finance, commented to the Prime News agency on the prospects for restoring Russian oil exports after the US sanctions imposition.

Buyers of Russian oil, having received clarification on the latest US sanctions, will complete commercial operations in the near future, after which exports will recover, Alexey Gromov said.

The expert added that buyers of Russian oil, in fact, have a month and a half left (the sanctions come into full force on February 27) to complete all operations with vessels subject to US sanctions restrictions.

"This means that in the near future our exports will recover again, that is, the failure, the delay in supplies, will probably decrease. In the near future, the sanctioned vessels will have the opportunity to unload, but they will not have time to load a new batch of oil," Gromov added.

He added that the partial resolution of transactions with sanctioned companies is aimed at ensuring that buyers who have already invested in the purchase of Russian oil do not lose money.

"But the strategic problem, of course, remains, and during these two months we need to decide with our colleagues from India and China how they will receive our oil and on which vessels," the expert concluded.

Gromov Alexey I. Principal Director on Energy Studies, Head of the Energy Department
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