Borrell: the refusal of all countries from oil from Russia will lead to an imbalance in the market
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The head of European diplomacy, Josep Borrell, spoke about the attitude of the European Union to the export of Russian oil to India. Mr. Borrell noted that the refusal to buy oil from Russia on the part of all countries would lead to an imbalance in the oil market.
“We know that the oil market must be balanced, and if everyone in the world does not buy Russian oil, we will have problems because the market will be very unbalanced,” Josep Borrell said in an interview. Hindustan Times.
In this regard, he stressed that the European Union does not consider the purchase of Russian oil by India a problem. “And it’s good for India if they can buy Russian oil at a better price,” he said.
After the entry into force of the price ceiling for offshore oil supplies, most of the Russian resource, which is subject to the embargo, was redirected to China and India. According to the International Energy Agency, in December 2022, the export of Russian oil and oil products to India amounted to 1.6 million barrels per day. However, as reported by the agency BloombergRussia continues to supply India with the maximum possible amount of oil, despite the recovery in Chinese demand.
About how Russia supplies oil under sanctions – in the material “Kommersant” “Shadow Fleet Expands”.
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