New customers lining up for Russian oil

According to the correspondent of Fars News Agency, quoted by Bloomberg, the Kepler Institute says that Moscow can find new customers for half of its sanctioned oil in the shadow of the European oil embargoes.

According to the new sanctions of the European Union, a significant part of Russian oil imports to the Green Continent will be banned from December. From February next year, Russian oil products will be banned in Europe.

According to the International Energy Agency, these sanctions will prevent the equivalent of 2 million barrels of Russian oil from reaching the European market.

The Kepler Institute says: Of course, in the coming winter, Indonesia, Pakistan, Brazil, South Africa, Sri Lanka and some countries in the Middle East will most likely buy one million barrels of oil per day from Russia. Moscow has already changed the destination of its oil shipments to Asia and increased oil exports to India and China. Of course, Moscow uses the option of offering discounts to attract customers.

Experts say: These discounts are so good that some countries in the Middle East may sell their oil in the world market and import cheaper oil from Russia.

Recent reports indicate that Indonesia wants to import oil from Russia, but the country is waiting to see if China and India will join the issue of setting a price ceiling for Russian oil.

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