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Russia Targets Eastern Markets to Avoid Sanctions


Russia will maintain its energy volumes to the markets even in light of sanctions according to Economic Development Minister Maxim Reshetnikov.

  • "Russia will be able to maintain volume of supplies and its role of strategic supplier even if new sanctions are imposed. We account for 14% of world oil production and 11% of exports, and if necessary, we will and we are redirecting exports to eastern markets. And in general, it is impossible to balance the world markets without Russia," he said.
  • "As for Russian energy prices, the [2023-2025 macroeconomic] forecast envisages their gradual reduction. However, in general, they will remain at an acceptable level. Cooperation within OPEC + and recent decisions point to this," he added.

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