European Union’s embargo on oil imports from Russia may result in significant shortages of oil and oil products in Europe, Russian Deputy Prime Minister Alexander Novak said on Thursday, also calling the cooperation with OPEC+ “effective”. Speaking on state TV, Novak also said that Russia will find ways to sell its oil to other markets, calling the EU decision “political”. Novak was talking after the OPEC+ group of leading global oil-producing countries had just agreed to hike oil production faster than expected in July and August, a move which the Russian official explained by the need to meet rising demand. read more The European Union said on Monday that it aims to cut Russian oil imports by 90% by year-end but […]