This Year May Be More Difficult For Russian Oil: Gazprom Neft CEO

This year will likely be more difficult than last year for Russian oil exports because of stronger sanction pressure, Gazprom Neft CEO Alexander Dyukov.

• “I think the year of 2023 will be no less difficult and potentially, most likely, more difficult compared with last year. We expect stronger sanction pressure,”Dyukov said.
• Russia needs to “develop independent insurance of cargoes, ships and liabilities,” he added.
• The country needs to “create independent systems to finance trading operations and, of course, we need new independent alternative mechanisms of pricing our oil and petroleum products,” he said.
• Earlier today Russia’s Deputy PM Alexander Novak said Russia will need a new insurance and re-insurance program for its oil exports.