Russian oil and gas industry

Russian Energy Minister Nikolay Shuliginov said in an interview broadcast on December 20, local time, that the Russian oil and gas industry has withstood the pressure of sanctions this year and met energy market needs.

The "Russia 24" channel broadcast an interview with the Russian Energy Minister that day. Shulijinov said: "Of course, the oil and gas industry will only face greater pressure from sanctions, embargoes, price ceilings. We have to divert energy supplies to other markets. Faced with such a situation, we withstood the test because We provide energy to Russian citizens and consumers."

After the Ukraine crisis escalated in February last year, the United States, the European Union and others successively imposed multiple rounds of sanctions on Russia, involving oil and gas, finance and many other fields. In June last year, the EU decided to ban the purchase of Russian gasoline, diesel and other petroleum products through maritime transportation. This ban took effect on February 5 this year. In December last year, the European Union, the Group of Seven and Australia set a price ceiling of US$60 per barrel for seaborne crude oil exports to Russia. In the same month, the EU launched an embargo on seaborne crude oil exports to Russia.

In addition, the "Nord Stream" natural gas pipeline from Russia to Europe via the Baltic Sea exploded last September, causing a large amount of natural gas to leak. Gas pipeline leaks and the impact of sanctions on Russia once led to shortages of natural gas supply in many European countries and skyrocketing prices.

In February this year, Shulijinov said at an energy forum that Russia had successfully redirected all oil exports affected by Western sanctions to friendly countries.