According to President Vladimir Putin, after Western sanctions, Russia has managed to realign its oil deliveries with the help of an expanded tanker fleet. “Thanks to the actions of companies and authorities, the tanker fleet has increased and new mechanisms for payments, insurance and reinsurance of goods have been created. This meant that oil deliveries could be redirected to the world’s fast-growing future markets – in the south and east – within a short period of time,” Putin said on Wednesday during an appearance at the “Russian Energy Week”.
After the war of aggression against Ukraine ordered by Putin, the western industrialized countries imposed sanctions on Russia, including a price cap for Russian oil, in order to make it more difficult for Moscow to finance the war. According to experts, Russia is now relatively successful in circumventing these restrictions. During his appearance, Putin nevertheless complained that the sanctions against Russian oil had shaken the global energy market.
At the same time, the Kremlin boss praised the decisions of the oil-producing states OPEC plus, which have reduced their oil production. This has stabilized the markets, said Putin. He was convinced that cooperation in this area would continue. Crude oil prices have also risen significantly in recent months due to production restrictions.
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