After Russia’s massive invasion of Ukraine in February last year, Western countries imposed broad sanctions on the aggressor, including banning the import of oil by sea. Russia has already solved this problem – with the help of its favored countries, it has managed to redirect the endangered oil.
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Less production, but Western sanctions have been bypassed
Today I can say that we have succeeded in redirecting the entire volume of prohibited exports. Russian Energy Minister Nikolai Shulginov told an energy forum, citing Reuters, that there had been no drop in sales.
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