Energy supplies will not go to countries that support price caps, Deputy PM Novak has said

Russia intends to shift the exports of its oil and petroleum products to ‘friendly’ countries this year, increasing their share in total supplies shipped abroad to 75-80%, Russian Deputy Prime Minister Aleksandr Novak has revealed.

“As for supplies to states that maintain illegitimate price restrictions, our position here is widely known and remains unchanged: such countries will not receive Russian oil,” Novak wrote in an article for the magazine Energy Policy on Monday.

He noted that oil production in Russia amounted to 535.2 million tons in 2022, which is 2% more than in the previous year. Oil exports increased by 7.6%, to 242 million tons, Novak wrote.

The deputy PM also noted that last year, in order to reorient Russian oil supply to friendly countries, a project was implemented to increase transportation via the major eastern port of Kozmino. As a result, deliveries to the countries in the Asia-Pacific region rose to 42 million tons per year.

Moscow has been diversifying its energy supplies in response to Western sanctions. The EU’s ban on Russian refined petroleum products, which came into force on February 5, set a price limit of $100 per barrel for diesel, jet fuel, and gasoline from Russia, and a $45-per-barrel cap for other oil products that trade below the crude price, such as fuel oil used in industry.

More Below

https://www.rt.com/business/571403-russia-oil-exports-friendly-states/