Lavrov ruled out budget losses due to EU oil embargo

According to the Foreign Minister, Russia, on the contrary, expects a significant increase in profits from energy exports, taking into account the price level, which “has been established as a result of Western policy”

Russian Foreign Minister Sergei Lavrov ruled out budget losses this year due to restrictions on Russian oil supplies by sea. He stated this to the Bosnian-Serb television and radio company Radio and Television of the Republika Srpska. The interview was published on the website of the Ministry of Foreign Affairs.

“Given the price level that has been established as a result of the policy of the West, we have no budget losses. On the contrary, this year we will significantly increase the profits received from the export of our energy carriers, — he said.

Lavrov noted that the oil markets are not subject to political “orders”, “whims”. Russia has alternatives to the European market, where it is already increasing supplies.

The next, sixth package of EU sanctions against Russia came into force the day before. It included, among other things, a partial embargo on the supply of Russian oil, which the EU countries could not agree on for about a month. The embargo proposals were blocked by Hungary. She sought to be excluded from the sanctions package of the Druzhba pipeline & mdash; the main source of oil supplies from Russia for her. Ultimately, the supply of raw materials by sea fell under the ban. Countries dependent on Russian oil imports will continue to receive it through the pipeline.

The Kremlin, speaking of a possible embargo from the EU, warned that such a decision would “hit everyone.” According to Deputy Prime Minister Alexander Novak, in the event of a ban, world oil prices could jump to $300 per barrel. At the same time, Russia has already begun to redirect flows from west to east, to Asian markets, he reported.

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