Russia plans oil exports to Asia as Europe sanctions prolong

Moscow is looking to increase oil exports to Asia as European countries look to wean themselves off Russian energy.

On Monday, Kremlin spokesman Dmitry Peskov said there is a market “in South East-Asia, in the East.”

He added that the world market is more diverse than just the European market.

“Although, of course, the European market is premium,” Peskov agreed.

The spokesman was reacting to the announcement by German Chancellor Olaf Scholz that his government will move “pretty fast” to eliminate Germany’s dependence on Russian energy imports.

So far, Russia has continued its gas deliveries to Europe unabated despite its war against Ukraine and the sanctions imposed by the West.

Peskov once again made it clear that Russia insists that natural gas deliveries to European countries be paid for in roubles, not euros.

Earlier, Russian President, Vladimir Putin had announced that gas deliveries to “unfriendly states” would only be invoiced in roubles.

Putin’s move seemed designed to bolster a national currency pummeled by weeks of sanctions, although economists have questioned whether requiring rouble payments would make much of a difference.

Loading

LEAVE A REPLY

Please enter your comment!
Please enter your name here