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Russian Deputy Prime Minister Alexander Novak MOSCOW - The European Union's embargo on the supply of Russian oil products may lead to an imbalance and shortage of supply on the world market, Russian Deputy Prime Minister Alexander Novak told reporters. Novak said that without petroleum products from Russia, Europe will face a shortage of supply and rising prices. "These decisions once again highlight that one should think about the future. In the future, if they are guided by such decisions as the embargo and the introduction of price caps, there may be a large imbalance, a shortage of energy resources, and a decrease in investment in this area," he said. On Tuesday, the European Commission published an explanation of the decision to introduce a price cap for oil products from Russia, in which it outlined cases where the price ceiling does not apply. According to the document, oil products produced from Russian oil outside Russia, as well as the mixture of Russian fuel wi ....

Alexander Novak , European Union , European Commission , Russian Deputy Prime Minister Alexander Novak , Russian Deputy Prime Minister Alexander Novak Moscow The European Union 39s Embargo On Supply Of Oil Products May Lead To An Imbalance And Shortage World Market , Ussian Deputy Prime Minister Alexander Novak Told Reporters Said That Without Petroleum Products From Russia , Urope Will Facea Shortage Of Supply And Rising Prices Quot These Decisions Once Again Highlight That One Should Think About The Future In , F They Are Guided By Such Decisions As The Embargo And Introduction Of Price Caps , Here May Bea Large Imbalance , A Shortage Of Energy Resources , Nda Decrease In Investment This Area , Uot He Said On Tuesday , He European Commission Published An Explanation Of The Decision To Introducea Price Cap For Oil Products From Russia , N Which It Outlined Cases Where The Price Ceiling Does Not Apply According To Document , Il Products Produced From Russian Oil Outside Russia , S Well As The Mixture Of Russian Fuel With Oil Products From Other Countries , F They Are Mixed On The Territory Of Third Countries , O Not Fall Under The Sanctions Quot With This Decision They Once Again Emphasized That European Consumers Will Be Able To Do Without Russian Oil Products , Ecause We Occupya Large Share On Their Market , Nd Without Our Oil Products , Here Will Bea Large Shortage And Price Hikes Eu Politicians Thereby Once Again Demonstrated The Inconsistency Of Their Earlier Decisions , He Lack Of Logic , Uot Novak Said He That By Making Sucha Decision , Uropean Officials Legalized Quot Gray Schemes For The Supply Of Russian Oil Products To Europe On One Hand , Hey Want To Please Their Voters As Politicians By Making Tough Statements About Our Energy Resources On The Other Hand , Hey Understand That This Will Lead To Negative Consequences And Here They Also Have Answer The Voters So ,