The Russian Energy Minister, Nikolai Shulguinov, asserted this Friday that he will maintain oil production, despite the entry into force of the embargo on hydrocarbons by the European Union.

This, because next Sunday the embargo on the Russian crude oil block, which was approved by the EU last year, as part of the sanction measures against Moscow, for the special military operation that began in Ukraine last year comes into effect. .

In this sense, Shulguinov pointed out that, after the entry into force of the document, the steps to follow will be studied, although he considered that it will not be a reason for a drastic reduction in fuel production, he refers Latin Press.

The minister indicated that the possibility of postponing refinery repairs due to the embargo is not contemplated.

It should be remembered that this measure was approved last December, when actions against Russian maritime oil shipments were launched.

These actions were supported by the Group of Seven (G7), Australia and the EU.

So far, it is unknown what the cap on Russian crude prices will be.

Imbalance in the markets after the embargo on Russia

For his part, the Kremlin spokesman, Dmitri Peskov, warned that the European Union embargo on Russian oil products will cause a greater imbalance in energy markets on a global scale.

“Of course it will lead to a greater imbalance in world energy markets,” Peskov said when answering a question about the consequences of the EU embargo on Russian oil derivatives, he quoted Sputnik.

However, the Kremlin has a negative attitude towards the EU embargo on Russian oil products and is taking steps to cover the risks associated with it, the spokesman stressed.

At the beginning of December, the president of Russia, Vladimir Putin, indicated that the decision of the European Union to place a ceiling of 60 dollars per barrel for Russian oil transported by sea, would not affect the European nation, however; if it could affect other producers.


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