Russia to slash oil supply to Europe

Russia plans to greatly reduce the export of crude oil and oil products to Europe and reroute the saved amount to Asia, Russian Deputy Prime Minister Alexander Novak said on Thursday.

Russia exported around 40 million tons of crude oil and oil products to Asia and some 180 million tons to Europe in 2022, Novak told reporters on the sidelines of an energy event.

“This year, 140 million tons of oil and oil products will go to the East. About 80-90 million tons will remain in the West,” he said. ■

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