Chaplin MP: Russia will not lose revenue due to embargo, taking into account the increase in oil prices
MOSCOW, May 31 – RIA Novosti. Nikita Chaplin, deputy of the United Russia State Duma, told RIA Novosti that Russia will not lose much revenue, considering the rise in oil prices due to EU sanctions.
“The EU’s oil embargo will negatively affect not only our country’s economy, but also the entire world economy. Russia will find new markets over time, and it will emerge when the imbalance and increase in oil prices are taken into account. Chaplin said that there will not be much loss of income due to these EU sanctions.
Following the results of the first day of the summit in Brussels, EU leaders reached a political agreement to impose a partial oil embargo on Russia as part of the sixth package of sanctions. The new restrictions will affect the supply of oil by sea. Oil from the pipeline will not be included in this sanctions package. According to Ursula von der Leyen, president of the European Commission, by the end of 2022, the EU expects to abandon almost 90% of Russia’s oil imports.
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