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EU share in Russian Oil Exports May fall to Zero: TASS

OIL

Europe’s proportion of Russian oil exports may be no more than 8% and could fall to zero by year-end 2024, according to TASS.

  • "I do not think the situation may change in 2024 - more than 80% of Russian oil will be directed to China and India. The EU share may fall to zero by the end of 2024,” sector head of the Institute of Energy and Finance Sergey Kondratyev told TASS.
  • A second source added that Europe’s imports of Russian oil has already fallen by 80-90%, but Slovakia, Bulgaria, and Hungary continue to receive volumes under the EU exemption.
  • Others told TASS that Russia will likely look to grow its position in African markets, particularly those in North Africa.
  • Asia remains a key market, while Russia is also diversifying to the likes of Brazil and Pakistan, TASS added.
Energy BulletsCommodities
Energy BulletsCommodities

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