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 Russia has ten years to restructure the oil trade scheme

Lukoil Vice President Leonid Fedun stated in an interview that Russia has about ten years to restructure the scheme of oil trade and redirect energy export flows.

The fact is that Europe plans to sharply reduce the volume of oil, diesel fuel and gasoline purchases, as a result of which Russia will not be able to earn as much as it does now on trade with its main partner.

As an option where Russian oil and petroleum products could be supplied, Fedun named promising markets such as Indonesia, Pakistan, India, Vietnam and Malaysia.

According to him, one of the main problems is Europe's willingness to give up gasoline and diesel-powered cars. Last year, 20 percent of all car sales in the region went to hybrids, and the process will accelerate, he said.

However, this alternative can be taken advantage of, Russian oil companies can build into the supply chain of hydrogen, which is replacing gasoline and diesel. Europe is ready to spend "hundreds of billions of euros" on the restructuring and for the sake of such a market can be radical restructuring.

Recall that the European Union's Green Deal plan calls for a 55 percent reduction in atmospheric emissions compared to 1990 and the elimination of carbon dioxide-emitting cars.

According to the plan, by 2035, no emission vehicles should be sold in Europe at all, which means that in fact diesel and gasoline engines will be banned.

Incidentally, the Deputy Prime Minister of Lukoil said that gasoline prices in Russia may fall only with a sharp strengthening of the national currency against the world.

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