Conflicts & War

EU embargo on Russian oil will affect global energy market: Kremlin

Moscow, Jun 1 (EFE).- The partial embargo on Russian oil imports agreed on by the European Union will affect the global energy market, the Kremlin warned on Wednesday.

“These sanctions, of course, will affect the entire continent: the Europeans, us, and the entire world energy market,” the Kremlin’s spokesman, Dmitry Peskov, said at a daily press conference.

Peskov added that Russia was seeking to redirect oil exports that will be affected by EU sanctions to alternative markets.

“These are systemic actions that will minimize the negative consequences,” Peskov said, adding that “Europeans will not be spared.”

On Tuesday, the EU agreed on an embargo on 90% of Russia’s crude imports to the 27 member states by the end of the year and is the toughest sanction yet on Russia since its invasion of Ukraine.

Russia makes 800 million euros a day from oil sales to the EU. EFE


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