Yuri Stankevich: the US decision to ban imports of Russian oil will not affect volumes of supply of our energy resources to world markets

Member of the Committee on Energy stressed that Russia had the opportunity to redirect these supplies to other countries
Member of the Committee on Energy Yuri Stankevich
Member of the Committee on Energy Yuri Stankevich

“Russia, along with the USA, is one of the largest producers of oil and petroleum products in the world. The US decision to ban imports of Russian oil and oil products is definitely a political decision. By and large, it will not affect a significant reduction in the production and supply of Russian energy resources and processed products. Russia’s part is no more than 5% in the overall US energy balance. Such unfriendly step is an attempt to additionally destabilize the situation on the world market. The rise in domestic prices for motor fuels in the United States clearly demonstrates the destructive nature of the decision initiated by politicians,” said Yuri Stankevich Stankevich Yuri Arkadievich Stankevich
Yuri Arkadievich

The parliamentarian stressed that Russia had the opportunity to redirect these supplies to other countries.

“We should not forget that the European Union more depends on our resources. Gas supplies are more than 40% of supplies and the supplies of oil and oil products are more than a third of the total supplies. Therefore, the current discussions in the European Union on the possible ban on the supplies of Russian energy sources — gas, oil, oil products, are quite speculative, such a decision will not be made,” emphasized Yuri Stankevich.

“We see that the situation of the past year, even before the rise of geopolitical tensions, has already proved that earlier decisions regarding the change in the structure of the fuel and energy balance due to a sharp increase in the share of renewable energy sources were erroneous. As a result, this led to a shortage of energy resources and an increase in their cost. Therefore, in my opinion, the current discussions do not have serious economic justifications and will not be implemented,” the parliamentarian said.