Russia plans to sell more than 80 per cent of its oil exports to what it calls “friendly” countries in 2023, Deputy Prime Minister Alexander Novak said on Monday, referring to countries that have not sanctioned Moscow over its invasion of Ukraine.
He added that these countries would also receive 75 per cent of Russia’s refined oil products, and that Moscow continued to look for new markets.
Russia has stepped up discounted sales to China and India, in particular, since it was hit by sanctions and a G7 price cap.
EU’s new plans
The European Union (EU) is set to propose a new package of sanctions to further restrict Moscow’s ability to support its war machine, according to sources.
