Russia plans to diversify oil supplies

Moscow, March 21 ( /Sputnik) Russia intends to diversify destinations of its oil supplies in the event of an embargo by the West, Russian Deputy Prime Minister Alexander Novak said on Monday. “Of course, we have taken into account all scenarios, the toughest that you can imagine. We proceed from the fact that we will not allow this, we will diversify supplies. Oil, after all, is not a pipe, mostly. Basically, these are tankers, which can be delivered to other regions. Therefore, we will create logistics schemes and chains,” Novak told reporters,” Novak told reporters. In principle, companies are already engaged in this process, he said. If the West does refuse Russian oil, prices will jump up to $300 per barrel, the official said, noting that some see an opport ty of an up to $500 rise in prices. As a response to the possible embargo, Moscow is considering a ban on supplies of uranium from Russia to the ted States, Novak added. /SPUTNIK MYK

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