Moscow predicts hard times for EU without Russian energy supplies

Deputy Prime Minister of the Russian Federation Alexander Novak has said that Russia provided more than 20% of oil supplies to Europe and almost 40-50% of gas supplies.

It is not known where the EU will get the missing volumes of fuel, he said, Kommersant quotes him as saying.

“Russia has always been a reliable supplier. We occupied more than 20% of the market in oil supplies, almost 40-50% in gas supplies. And where today our colleagues, our European partners will take the missing resources - there is no answer to this question,” Novak said at a session as part of the Russian Energy Week.

He said that Russia will continue to supply oil through pipelines to Europe to those consumers who are interested in this. The Russian Deputy Prime Minister recalled that there is currently no embargo on pipeline transport. According to him, Moscow will expand its capacity and diversify oil exports in response to EU decisions to ban offshore deliveries of Russian oil.

Alexander Novak also said that in 2023 Russia will produce oil at the level of 490 million tons. Gas deliveries via the Power of Siberia gas pipeline to China next year are planned at the level of 22 billion cubic metres.