June 1 (Reuters) – The Kremlin said on Wednesday that European Union sanctions on Russian oil would affect the global energy market, but warned that Moscow could redirect its exports to limit the impact of the embargo on his economy.
The heads of state and government of the European Union agreed on Monday to reduce Russian oil imports by 90% by the end of the year in response to Moscow’s invasion of Ukraine.
“These sanctions will have a negative impact on the whole continent – for Europeans, for us, and for the entire world energy market,” Kremlin spokesman Dmitry Peskov told reporters.
In 2021, the EU depended on Russia for more than a quarter of its oil, and in the same year the bloc accounted for almost half of Moscow’s overall crude oil and oil product exports, according to the International Development Agency. energy (IEA).
Energy prices have soared to record highs since Russia invaded Ukraine on February 24, driving up inflation and fueling fears of a cost of living crisis in Europe and the United States. United.
According to the Kremlin, Moscow has already started to reroute its oil exports to bypass Europe, following EU sanctions.
“This is a targeted and systemic action that will allow us to minimize the negative consequences,” said Dmitri Peskov on Wednesday.
Some countries are already taking advantage of sanctions on imports from Moscow. Among them is India, which has already bought record quantities of cheap Russian oil. (Reuters report, French version Diana Mandi, said by Jean-Michel Blot)