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The US, Canada, Britain and Australia have imposed bans on Russian oil imports in response to what Moscow calls a particular navy operation in Ukraine, whereas the European Union stays divided on the problem.
“On the subject of Russian oil, gasoline and coal, we can enhance their consumption on the home market, stimulate the deep processing of uncooked supplies,” Putin stated at a televised assembly with officers to debate the event of the Russian Arctic.
“We may also enhance the provision of power sources to different areas of the world the place they’re actually wanted.”
Putin stated the West was accountable for the power crunch it was experiencing as a result of it could not cooperate with Russia.
“The refusal of a number of Western international locations to cooperate (with Russia) usually, together with as regards to Russian power sources… has already hit tens of millions of Europeans, provoked an actual power disaster,” he stated.
“In fact we’re additionally dealing with issues however this opens up new alternatives.”
Putin additionally stated that “unfriendly international locations” had destroyed provide chains in Russia’s Arctic areas and a few nations weren’t fulfilling their contractual obligations, creating points for Moscow.
Moscow is able to promote oil and oil merchandise to “pleasant international locations in any value vary”, Power Minister Nikolai Shulginov informed Izvestia newspaper on Wednesday, as conventional patrons are shunning Russian provides, forcing Moscow to chop oil output.
Russia says its purpose is to demilitarize and “denazify” its southern neighbour in an operation that has been met with stiff resistance from Ukrainian forces and triggered sweeping Western sanctions.
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