World News Oil field in Russia
Alexander Novak, Russian Deputy Prime Minister, said today, Saturday, that Russia has voluntarily reduced exports of oil and petroleum products by 500,000 barrels per day this January. The Russian Deputy Prime Minister added that the global oil market is balanced.
Novak confirmed that Russian oil exports to India are proceeding according to schedule.
Russia is one of the world’s leading producers and exporters of oil and gas. Western countries imposed sanctions on Russian oil and gas with the start of the Ukrainian crisis in February 2022.
In this context, news agencies quoted Novak as saying that Moscow is ready to hold talks with the European Union regarding natural gas supplies before the end of an agreement with Ukraine to transport gas in late 2024.
Under a five-year agreement Moscow concluded with Kiev in 2019, Russia exports gas to Europe via Ukraine in exchange for a fee for using a pipeline network.
“If the other party, which is the European Union, wishes, we are ready for discussions,” RIA News Agency quoted Novak as saying.
Yesterday, Friday, a European Union official refrained from speculating about the chances of extending the gas transportation agreement through Ukraine after 2024, but said that the bloc is evaluating all possibilities and preparing for them.
Source: Reuters
2024-01-27 15:33:49
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