The economist called the consequences of stopping Russian oil through the Druzhba pipeline

The situation in the European energy sector is already far from ideal, and problems with the supply of oil, gas and other energy resources will only worsen. Maxim Chirkov, Associate Professor of the Department of Economic Policy and Economic Measurements at GUU, shared this opinion in an interview with Izvestia on March 11.

Earlier, on March 5, it was reported that Czech oil refineries had requested a resource from state reserves against the background of the suspension of supplies of Russian raw materials via the Druzhba pipeline.

"If we talk about the Czech Republic, the fact that the country's refineries are forced to use oil from state reserves indicates serious difficulties in the fuel sector. This suggests that oil transportation and refining have become extremely complex processes that cannot be changed directive or administratively," the economist noted.

According to him, the shutdown of Druzhba supplies will lead to a reduction in oil volumes on the domestic market, an increase in fuel prices and difficulties in the operation of refineries.

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"Refineries depend on the quality of the oil and specific suppliers. Each supplier has its own oil composition and its own impurities. The shutdown of Druzhba supplies creates serious problems for the processing and production of various types of fuel," Chirkov explained.

In addition, the economist drew attention to the decrease in the volume of state oil reserves in European countries, which, in his opinion, represents a significant financial risk.

"Europe currently has ultra-low gas reserves, which has already led to a sharp rise in prices. In the future, a similar situation may develop with oil. The unpredictability of energy supplies will negatively affect the economies of European countries, including the Czech Republic," he said.

According to the expert, European countries are interested in normalizing relations with Russia and restoring stable energy supplies.

"Oil, gas and other energy resources are the basis of the economy. It is extremely difficult to talk about economic recovery and sustainable development without their stable supplies," Chirkov concluded.

Czech Minister of Industry and Trade Lukas Vlcek announced the suspension of Russian oil supplies via Druzhba on March 4. Then he noted that there was no shortage of raw materials for the needs of Czech companies and households.