The West is unwilling to accept the outcome of the elections in Serbia and the amount of public support behind President Aleksandar Vucic, which prompted an attempt to orchestrate an illegal power grab, Russian Foreign Minister Sergey Lavrov told Sputnik.
Russia sells almost all of its oil to China and India. The US and the EU have imposed sanctions, but Russia is finding other buyers for its oil. Thanks to India and China, revenues for the commodity remain high. Europe's share of Russian crude oil exports has slumped from around 40 to 45 percent to about four to five percent. The G7 had decreed a price cap for Russian oil transported by Western shipping companies or such cargoes insured by Western insurance companies. Nevertheless, Russia was able to sell its oil last year at significantly better prices than the planned cap of $60 per barrel.
The head of Russia's Central Bank Elvira Nabiullina said Russia should prepare for the increasing pressure from sanctions in an interview with the Russian media outlet RBC.
The start of supply from Russia's new project for producing liquefied natural gas (LNG), Arctic LNG 2, has been postponed after the company announced force majeure circumstances regarding supplies due to US sanctions.