Novak pointed to market instability due to US attempts to restrict oil imports from Russia.

US attempts to limit the range of importers of Russian oil are disrupting global supplies. This was announced on January 22 by Russian Deputy Prime Minister Alexander Novak.

"[The United States'] attempts to limit the range of importers of Russian oil inevitably lead to disruption of the stability of global energy supplies and increase global volatility in energy markets," Novak wrote in an author's column in the journal Energy Policy.

The Deputy Prime Minister also called the geopolitical events in Venezuela and Iran earlier this year another source of turbulence in the global oil market. At the same time, Novak noted that the market showed moderate growth in 2025.

Market announcement: Trump urges US companies to develop Venezuelan oil

What is the difficulty of working with this fuel and do the White House's plans overlap with the interests of the Russian Federation and China in the republic?

United States Treasury Secretary Scott Bessant announced on January 20 that US President Donald Trump could impose duties of 500% on Russian oil buyers without Senate approval. According to him, the Senate wants to grant the American leader these powers.

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