“We are studying the new decisions made ... we need to understand the expediency,” RIA Novosti quotes him.

Answering the question about when to expect a response on the deadline, he noted that it is expected that everything will be decided before March.

“It will be until March,” he said.

Earlier, Novak said that the Russian oil industry will work steadily, despite the EU embargo.

The European Union has banned the import of Russian oil products since February 5.