EU imports are collapsing, even before the embargo. And the Russian government admits that Russian oil production could fall by 17% this year, a record since the breakup of the USSR
by Sissi Bellomo
The European embargo is not yet in force, but Moscow is already struggling to export oil and fuel to the Old Continent, where until recently it placed a quarter of its barrels. And the lost sales are not fully compensated for by more purchases from other countries, such as India or China. The result is that Russian companies, now short of storage space, are holding back production. More and more drastically.
The difficulties are now so serious …