Deputy PM: Russia’s oil exports to India soar by 1,100% in 2022

MOSCOW, Mar 28 (PRIME) -- Russia’s oil exports to India soared by 1,100% in 2022, Deputy Prime Minister Alexander Novak said on Tuesday during a session of the Energy Ministry without providing absolute figures.

“If we speak about oil supplies to India, it grew by 22 times last year,” he said, adding that exports to China and other markets also grew.

Energy Minister Nikolai Shulginov said that Russia managed to redirect all of the oil supplies which were suspended by the oil embargo, and that no contraction of oil exports happened.

“In regards to sanctions, it is very important not only to maintain production and refining, but to maintain exports as well and consequently the federal budget revenue … In order to achieve that, we are actively working on redirection of supplies of oil and oil products to the countries of Asia, Africa, Latin America, and the Middle East. We may say with certainty today that we managed to redirect the entire amount of exports that dropped out because of the sanctions and that no contraction of sales has happened,” he said.

Earlier in March, Novak said that Russia delivered about 67 million tonnes of oil to China in 2022.

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