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European energy market has begun irreversible process of de-Russification - energy expert Honchar

28 October, 2022 Friday
17:07

Mykhailo Honchar, an expert on international energy and security relations, believes that the process of de-Russification of the European energy market has become irreversible

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He shared his opinion live on air of Espreso TV channel.

"Of course, economic sanctions only in the oil sector will not stop Russia. However, if we take all of Russia's energy exports, then more than 70% of revenues to the budget of Russian Federation come from the oil sector. Therefore, blow to this sector will be very sensitive for Russia", Honchar explained.

The expert emphasized that Russia will not be able to resume powerful exports of petroleum products to Europe.

"Restoration of Russia's oil export capacity is impossible. Because Europe has begun an irreversible process of de-Russification of the energy market. This has become irreversible against the background of Russia's actions in recent months. Therefore, it will not be possible for Russia to restore pre-war oil product exports to Europe. They say that will export it to the East. However, such an export requires the construction of a very complex infrastructure. Which is also a problem for Russia", he added.

  • On October 27, Bloomberg reported that the US was forced to review the plan to limit prices for Russian oil.


 
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