Novak announced the redirection of 20% of oil supplies from Europe to Asia Russia also redirected part of its gas supplies to Asia, Novak said. According to him, the supply of this fuel to China

increased by about 50% last year

Russia has redirected about 20% of the oil supplied to Europe to Asian markets, Deputy Prime Minister Alexander Novak said during a speech at the Knowledge. First."

“Those energy resources that were previously sent to Europe <...> were largely redirected to new markets. If we talk, for example, about oil, then we redirected about 20% of the volumes that were previously supplied to Europe to other markets. These are India, China, other countries,” Novak said.

As for gas, Russia also diverted part of the supplies to Asia, he continued. In particular, deliveries to China increased by about 50% last year, the vice premier noted.

Since the end of February 2022, Western countries have repeatedly tightened anti-Russian sanctions . Under the restrictive measures of the EU , offshore oil supplies fell, and in December it introduced a price ceiling on it.

The Russian authorities consider the sanctions illegal. As a retaliatory measure, Russia stopped supplyingoil to the countries that set the price ceiling and refocused on the Asian market. As calculated by the analytical company Vortexa, in March, China and India accounted for up to 91% of such exports.

Meanwhile, in Asia, Russia's Urals grade of oil has begun to be sold at deep discounts, down to a price below cost, taking into account local fees, Reuters reported in December . In particular, the discount on Russian raw materials in India that month amounted to $12-15 compared to previous deals.

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