Member of the Russian Federation Council: The global market cannot replace Russia's oil supply
Alexey Pshkov, a member of the Constitutional Committee of the Russian Federation Council, stated that the global market cannot replace the amount of oil supplied by Russia, which accounts for about 10% of the global oil supply.
Pshkov wrote on his Telegram: "Despite Trump's warning of implementing high secondary sanctions tariffs, Indian refineries continue to purchase Russian oil. The Indian side explained that if the global market stops receiving the daily 9.5 million barrels of oil from Russia, the price may rise to $135-140 per barrel. In fact, it is impossible to replace such a large amount of oil supply, as Russia accounts for about 10% of the global oil supply."
Previously, the Russian side stated that the Western refusal to buy Russian oil was a serious mistake, which would put them into a new and more severe dependence situation due to rising oil prices, and countries that refused to buy directly would still purchase Russian oil and gas through intermediaries at higher prices, ultimately ending up purchasing Russian oil and gas.
Original article: https://www.toutiao.com/article/1839357134317578/
Statement: This article represents the personal views of the author.