Kremlin spokesman Dmitry Peskov said on Saturday (14 March) that many countries are interested in purchasing Russian oil after the United States temporarily eased sanctions on certain exports.
Peskov told Russia’s state news agency TASS that global energy markets “cannot afford to lose large volumes of Russian oil”, adding that demand for supplies from Moscow remains strong.
“Markets are indeed wide, and there are many willing to purchase Russian oil,” Peskov said, arguing that renewed flows of Russian crude could help stabilise global energy markets.
Thailand and Sri Lanka have signalled interest in buying Russian oil, according to earlier reports, while U.S. broadcaster CNBC said several other countries, including Japan, could also resume purchases.
The comments came after the administration of U.S. President Donald Trump issued a temporary licence allowing countries to buy certain Russian oil products loaded onto vessels before 12 March. Officials in Washington suggested the measure, introduced as energy markets tighten, could be extended.
Oil prices have surged as the war involving Iran disrupts regional energy supplies. Brent crude rose above $100 per barrel this week for the first time since August 2022.
The conflict has effectively halted tanker traffic through the Strait of Hormuz, a vital shipping route through which roughly one-fifth of global oil supplies normally pass.
Peskov said easing sanctions on Russian oil exports was in the interest of both Moscow and Washington as they seek to stabilise global energy markets.
However, the move has drawn criticism in Europe. German Chancellor Friedrich Merz called the decision “wrong”, saying it risked allowing Russia to exploit the Middle East conflict to weaken Ukraine.
Analysts say that even if the conflict in the Gulf ends quickly, shipping through the Strait of Hormuz may not resume immediately, prolonging pressure on global oil markets.
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The U.S. has banned government employees working in Saudi Arabia from using airports in the country without special authorisation. It comes after a deadly Houthi strike on Riyadh's King Khalid International Airport killed at least 13 people last week.
U.S. President Donald Trump has called it “a disgrace” that Ukraine has resumed attacks on Russian oil refineries. Attacks are continuing from Russia and Ukraine as media reports say Ukraine has almost run out of Patriot interceptor missiles.
An unknown projectile struck a tanker 68 nautical miles northeast of Saudi Arabia on Friday according to a report released by the United Kingdom Maritime Trade Operations (UKMTO) on Saturday.
Nationwide protests are set to begin in France on Saturday with students, trade unionists and remnants of the Yellow Vest movement expected to demonstrate against rising living costs amongst others.
Romanian rescuers resumed their search for seven missing sailors on Friday (16 October) after a drone strike set a chemical tanker ablaze near the country’s Black Sea coast. The attacks have raised fresh security concerns along a vital regional trade route.
Russian strikes on Ukraine’s energy and water systems, combined with damaged homes and rising living costs, could force more people to flee this winter, the International Organization for Migration (IOM) warned on Friday, as its response plan for the country remains less than 7 per cent funded.
Ukrainian President Volodymyr Zelenskyy said on Saturday that a potential meeting between Ukraine, the United States and Russia could take place during the G20 summit in Miami in December, although neither Washington nor Moscow has confirmed the talks.
Nearly half of delegates walked out of an International Monetary Fund meeting in Bangkok on Saturday as Russian Finance Minister Anton Siluanov addressed the group, exposing deep divisions over Moscow’s war in Ukraine.
Nationwide protests are set to begin in France on Saturday with students, trade unionists and remnants of the Yellow Vest movement expected to demonstrate against rising living costs amongst others.
European Union leaders wrapped up a summit in Brussels with agreement emerging on several key issues, including support for the automotive industry, trade tensions with China and financing for Ukraine.
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