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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Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 13th of July, covering the latest developments you need to know.
The United States carried out a third consecutive night of airstrikes against Iran, targeting military capabilities around the Strait of Hormuz as Donald Trump announced the reinstatement of a blockade on Iranian shipping and proposed a 20% fee on cargo passing through the strategic waterway.
Iran’s Islamic Revolutionary Guard Corps (IRGC) said on Tuesday that its Navy had struck U.S. military barracks, a satellite communications centre and a Patriot missile battery in Bahrain, while its Aerospace Force targeted an airbase in Jordan.
A newly introduced refereeing protocol has intensified debate over fairness at the FIFA World Cup, with another controversial decision involving defending champions Argentina fuelling criticism from fans and former officials.
A United Nations official has accused Hamas of interfering with humanitarian aid distribution in the Gaza Strip, adding further pressure on civilians already facing severe shortages and worsening living conditions.
Australia's internet safety regulator has accused some of the world's biggest technology companies of failing to do enough to combat child sexual abuse and the growing threat of online sexual extortion.
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