MOSCOW, RUSSIA – Russia does not see the risk of trading oil at a loss due to the redistribution of energy flows to the East – growing local markets will be able to “absorb” its supply, Russian Foreign Minister Sergey Lavrov said.
Lavrov said this in an interview for the documentary project “Oil” published on the website of the Russian Foreign Ministry.
“I do not see such threats at all. I’ve already said that China and India are expanding rapidly. They can absorb supply from numerous OPEC+ member countries,” he said.
“The organization regulates the market and prices in an equitable manner, taking into account the interests of consumers. OPEC+ will not set prices that are unacceptable to customers. This is that fair balance of interests,” the minister said.
Lavrov expressed confidence that Moscow is not frightened of relying on countries that will buy Russian oil and gas “and are already buying in ever-increasing volumes”, TASS reported.
“We have to beware of those who blow up the already existing infrastructure that ensured the prosperity of European countries,” the minister said.
