According to the publication, the former partners of Venezuela and Iran switched to Russian oil after the introduction of US sanctions against these countries.
“Venezuelan and Iranian oil are similar in composition and type to Russian. Therefore, after these countries were pushed out of the market, buyers of Russian oil immediately appeared, ”explained Chris Weafer, founding partner of Macro-Advisory.
The trade war between the USA and China, in turn, contributed to the fact that Russian energy companies were able to gain a foothold in the Chinese market.
Moreover, after Beijing imposed retaliatory measures against Washington, Chinese energy companies began to buy stakes in Russian LNG projects in the Arctic.
Weafer noted that despite some political differences, Europe is also interested in the supply of Russian gas.
As the publication recalls, after the completion of the Nord Stream 2 and Turkish Stream projects, Russia will be able to sell an additional 86.5 billion cubic meters of gas to Europe.
Earlier, the head of the ruling Christian Democratic Union in Germany, Annegret Kramp-Karrenbauer, opposed the halt in the implementation of Nord Stream 2.
According to her, Russia has established itself as a reliable partner in gas supply issues.
Expert Igor Yushkov, in an interview with the FBA “Economics Today,” expressed the view that any attempts by the United States to politicize the construction of Nord Stream-2 are doomed to failure.