Russia's Deputy Prime Minister, Alexander Novak, announced this Wednesday (27) that the country has redirected almost all of its oil exports from Europe to China and India, in an attempt to dodge the series of sanctions. imposed by the West, as a result of the invasion of Ukraine.
According to a member of Vladimir Putin's government, currently 45% to 50% of its oil is sold to Beijing, while 40% goes to India. “If earlier we supplied Europe with a total volume of 40 and 45% of exports of oil and petroleum products, this year we hope that the figure will not exceed 5%,” Novak said in an interview with the Russian television channel Russia 24.
According to him, Russia's “energy and oil complex has successfully developed in 2023, with revenues equivalent to the year 2021”, which precedes Moscow's invasion of Kiev. “Many people want to buy Russian oil and petroleum products. These are Latin American countries, African countries and other countries in the Asia-Pacific region,” he said.
Russia is expected to accumulate almost 9 trillion rubles (approximately R$471 billion) from oil and gas this year alone.
Novak highlighted that the hydrocarbon industry represents 27% of the country's Gross Domestic Product (GDP) and foreign sales amount to more than half of Moscow's total exports – almost 57%.
Before the conflict in Eastern Europe began, Russia was the European Union's main oil supplier, accounting for up to 31% of total imports until January 2022, according to Eurostat, the EU's statistical organization.
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