Russia’s Oil Production Up by About 2% to 535Mln Tonnes Despite Sanctions
/ Go to the mediabankRussian President Vladimir Putin chairs a meeting with members of the government
/ Go to the mediabankInternationalIndiaAfricaMOSCOW (Sputnik) – Oil production in Russia increased by 2% to 535 million tonnes despite sanctions against Moscow, Russian President Vladimir Putin said on Tuesday. “Despite sanctions pressure, oil production in Russia increased by about 2% in 2022, the production volume amounted to 535 million tonnes,” Putin said at a virtual meeting on economic issues.
RussiaRussian Oil Will Always Be in Demand, Despite Changes in Logistic Chains: Russian Deputy PM Novak6 December 2022, 09:42 GMTWestern countries have been seeking ways to limit Russia’s income from oil and gas exports, as well as their dependence on Russian fuel since the country launched a military operation in Ukraine on February 24. On December 5, the European Union placed a price cap of $60 per barrel on Russian crude oil, joined by the G7 nations and Australia.
In late December, Russian President Vladimir Putin signed a decree banning supplies of Russian oil and petroleum products if contracts directly or indirectly provide for a price cap. According to Kremlin spokesman Dmitry Peskov, the Russian president did not consult with OPEC+ allies before signing off on the response measures.
Russia’s Special Operation in UkraineEU Vows to Keep Sanctioning Countries ‘Helping Russia’ in Ukraine Op, Including Iran and Belarus12 January, 13:32 GMTSpeaking about Russia’s gross domestic product (GDP), the president said that for 11 months of 2022 it decreased by only 2.1%, in general, by the end of the year it is expected to decrease by 2.5%.”According to the Ministry of Economic Development… Russia’s GDP in January-November of 2022 decreased, but only by 2.1%… In general, a decrease of 2.5% is expected for the whole year,” he said.
