Transformation of Russian Oil Sales Markets Taking Into Account Sanctions Pressure

Abstract

Against the background of the sanctions pressure of the coalition of G7 countries, the European Union and Australia (hereinafter referred to as the coalition) on the Russian energy sector, the introduction of a “ceiling” of prices for the sea transportation of Russian oil, starting from December 5, 2022, it is necessary to transform the traditional flows of oil cargo from Russia to the countries of the Asia-Pacific region.In this regard, in order to identify the potential for the growth of supplies to friendly countries, it is important to assess the existing capacity of pipeline capacities and Russian sea terminals for oil transshipment. In the article, the author analyzes the cargo flows of oil from Russia in the direction of the countries that are part of the coalition, formed proposals for changing the markets for Russian energy resources, taking into account the sanctions pressure, and drew conclusions about the possibilities of diversifying the existing cargo flows of Russian oil.According to the author, Russia could build a dialogue, without violating the sanctions regime, with friendly countries, in order to actually take the share of OPEC countries in the Asia-Pacific market, while OPEC countries will reimburse the supplies of fallen Russian resources to the EU countries at market, not “ceiling” prices.