Alekperov warned that the oil embargo from Russia was a "shock for everyone."

He considers this scenario the most negative for all parties.

“It is impossible to find a replacement for such a major energy exporter as Russia, even in the medium term,” RIA Novosti quoted him as saying.

Earlier, the head of Gazprom Neft, Alexander Dyukov, said that the company redirects oil to new markets and considers Asia the most promising.

Leading expert of the National Energy Security Fund, lecturer at the Financial University under the Government of Russia Igor Yushkov, in an interview with the Economics Today, commented on the situation with energy supplies to the EU.