The expert of the National Energy Security Fund in Russia warned about the consequences of the Russian oil embargo by European countries.
Publish dateSaturday 4 June 2022 - 11:52
Story Code : 253755
Afghan Voice Agency (AVA): Stanislav Mitrakhovich, expert of the National Energy Security Fund in Russia, called the EU action on the Russian oil embargo a strange step and said that the Russian oil embargo is hitting the world oil market more than a blow to Russia.
"Approximately 60 percent of Russian oil is transported by sea, so it is possible to transfer it from one region to another," Mitrakhovich told the Rashatodi network.
He added: "Russia will overcome the limitations and challenges in the field of oil transportation; especially in this direction, it creates insurance companies and other transportation companies in order to provide insurance and transfer of oil to consumers. That is why the impact of these sanctions cannot be too heavy for Russia, even Russia has already prepared for such decisions.
The oil expert continued: "Europe was trying to hit Russia, but today some European countries, such as Bulgaria, Hungary, etc., are receiving the oil they need through the pipeline; Will continue to buy Russian oil; There are usually other strategies and routes for transporting oil to Europe, and mixing Russian oil with oil from other countries is one of these strategies. So there are several mechanisms in this direction, so it must be said that Europe took a strange step to punish Russia, a decision that affects the global oil market in general.
Stanislav Mitrakhovich clarified: "If we assume that Russia's oil exports will reach zero due to sanctions, will this amount of oil be supplied from other countries or not?" It is a point that the future will determine the answer to, but our point is that the results of these sanctions were seen only a few months later.
In my opinion, Russia has the power to find an alternative market for all its production. For example, China and India, with a population of 2.5 billion, need energy, but it is also possible that oil producers in the Persian Gulf are trying.
In order to be able to export part of their oil to Europe, this means that part of the oil in the Persian Gulf is moving away from the Asian market, and this is an opportunity for Russia to make up for this shortage in Asia with its oil.
European behavior means a disruption in the world market, but if part of the oil of Russia or any other country is removed or reduced from the world market, it will not affect the income of these countries, because rising oil prices will compensate for the shortage in production. It can be said that these sanctions will give Russia, Saudi Arabia and other oil exporters a chance to make more profit.
"Approximately 60 percent of Russian oil is transported by sea, so it is possible to transfer it from one region to another," Mitrakhovich told the Rashatodi network.
He added: "Russia will overcome the limitations and challenges in the field of oil transportation; especially in this direction, it creates insurance companies and other transportation companies in order to provide insurance and transfer of oil to consumers. That is why the impact of these sanctions cannot be too heavy for Russia, even Russia has already prepared for such decisions.
The oil expert continued: "Europe was trying to hit Russia, but today some European countries, such as Bulgaria, Hungary, etc., are receiving the oil they need through the pipeline; Will continue to buy Russian oil; There are usually other strategies and routes for transporting oil to Europe, and mixing Russian oil with oil from other countries is one of these strategies. So there are several mechanisms in this direction, so it must be said that Europe took a strange step to punish Russia, a decision that affects the global oil market in general.
Stanislav Mitrakhovich clarified: "If we assume that Russia's oil exports will reach zero due to sanctions, will this amount of oil be supplied from other countries or not?" It is a point that the future will determine the answer to, but our point is that the results of these sanctions were seen only a few months later.
In my opinion, Russia has the power to find an alternative market for all its production. For example, China and India, with a population of 2.5 billion, need energy, but it is also possible that oil producers in the Persian Gulf are trying.
In order to be able to export part of their oil to Europe, this means that part of the oil in the Persian Gulf is moving away from the Asian market, and this is an opportunity for Russia to make up for this shortage in Asia with its oil.
European behavior means a disruption in the world market, but if part of the oil of Russia or any other country is removed or reduced from the world market, it will not affect the income of these countries, because rising oil prices will compensate for the shortage in production. It can be said that these sanctions will give Russia, Saudi Arabia and other oil exporters a chance to make more profit.
Source : خبرگزاری Afghan Voice Agency(AVA)
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