Russia: We will not supply oil at the prices set by the West, and new markets will be sought

The Russian Finance Minister, Anton Siluanov, announced today, Sunday, that Russia, in principle, will not supply oil at the prices set by the West, and that new markets and logistics will be sought, even with rising costs.

Siluanov's remarks came during a television interview in which he said that Russia will look for new oil consumers with the increasing demand for oil, according to the agencies' expectations.

Siluanov explained that new markets and new logistics will be sought, but they will be more expensive," stressing that the principled position is not to provide our main energy source with some prices set by Western countries, and we will not allow that.

“This is dictated by the consumer through market methods,” Siluanov added, stressing that price restrictions apply to Russian manufacturers.

In a related context, Finance Minister Anton Siluanov said that the ministry will not supply the National Wealth Fund if the value of oil is less than $70 a barrel and at a "very low" price.

Siluanov considered that the sanctions imposed on Russia are very costly for Europe, and only the United States benefits from them.

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