Oil supplies to Europe in 2023 won't exceed 4-5% of Russia's total exports

Deliveries of oil and petroleum products from Russia to Europe by the end of 2023 will not exceed 4-5% of total exports, Russian Deputy Prime Minister Alexander Novak said in an interview with the Rossiya-24 TV channel.

"While previously we supplied Europe with a total of about 40-45% of oil and petroleum products, for example, of the total volume of exports, by the end of this year we expect the figure to not exceed 4-5%,” he said.

As Novak noted, Russia’s main partners in the current situation are China, whose share has grown to approximately 45-50%, and India.

"Previously, there was practically no supplies to India. Over two years, the total share of supplies to India was about 40%," he added.