According to Mohammed Barkindo, due to sanctions, the world may face the loss of up to 7 million barrels per day.
OPEC Secretary General Mohammed Barkindo believes that it is almost impossible to replace oil exports from Russia to the European Union. In his speech at the EU-OPEC energy dialogue, he said that due to sanctions, the world may face the loss of Russian oil exports up to 7 million barrels per day.
“It would be almost impossible to make up for the loss in volumes of this scale,” Bloomberg quoted Barkindo as saying.
Earlier, Deputy Head of the European Commission (EC), Lithuanian Foreign Minister Valdis Dombrovskis said that the EC has started work on the sixth package of sanctions against the Russian Federation; it will contain provisions concerning the EU embargo on Russian oil supplies.
About a quarter of the oil imported by the EU comes from Russia, but individual countries of the community are much more dependent on Russian supplies.