Can Russia Actually Find Other Buyers If EU Moves Forward With Oil Embargo?

Russia is prepared to send any supplies rejected by European countries to other regions such as Asia, if the European Union (EU) brings in an oil embargo, warned the country’s Deputy Prime Minister Alexander Novak. He argued that Europe, which relies on Russia for around a quarter of its crude imports, would have to find substitute supplies that would be more expensive. This follows Russia’s Foreign Minister Sergei Lavrov earlier this month daring the West to bring in an oil ban. He said: “Let the West pay more than it used to…