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Russian Deputy Prime Minister Alexander Novak stressed that the demand for Russian oil was and will continue to exist, and the market will witness a change in the supply chains, after imposing a ceiling on the price of the Russian barrel.
Novak was quoted by the Novosti news agency as saying: There is a demand for Russian oil in global markets and Russian oil will find Russian buyers from the major oil suppliers in global energy markets.
Novak added that the demand for Russian oil has always existed and the demand for it will continue.. but the mechanisms and logistical chains will change now.
Yesterday, Western sanctions on Russian seaborne oil entered into force. The G7 countries, Australia and the European Union imposed a limit on the price of Russian seaborne oil at $60 a barrel. Earlier, the Russian Deputy Prime Minister confirmed that his country would not supply crude to countries that support a ceiling on the price of Russian oil.
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