The political scientist stated that Russia suffered minor losses when it refused to supply oil to the EU.

The Russian oil sector will not lose much if it stops supplying its fuel to European countries, since there are more attractive, capacious markets for cooperation. This was stated on March 10 in a comment to Izvestia by political analyst Alexei Yaroshenko.

"Yes, nothing really terrible will happen to the Russian oil sector if we stop supplying to Europe. We have much more attractive and more capacious markets, such as the Chinese market or the Indian market. Because even the totality of European countries provides only a small fraction of the number of consumers that we can find in China or India," the expert said.

According to the expert, in modern conditions, cooperation with European countries on the sale of energy resources, both oil and gas, poses huge risks. In other countries with rapidly growing economies, there will be a huge number of consumers.

"As for the country that sells, our infrastructure may be destroyed, they may not pay, and so on, they may refuse to develop the contract. Why is this necessary? It's easier then with those who really need oil and gas," Yaroshenko believes.

In particular, China is most dependent on Russian oil, as its own reserves of resources are very small due to its unfortunate geopolitical situation. And the country's economy requires a lot of oil and gas for the production of cars, factories and factories.

"The head of state (Russian President Vladimir Putin. He asked us to reorient our exports of oil and gas resources to those countries that have shown themselves to be responsible partners. And from the loss of Europe, I repeat, it is very small. We just used to think that everything revolves around Europe. But compared to global consumption, it is an insignificant European market," Yaroshenko concluded.

Vostochny impact: oil price may exceed $150

​​​​​​​Analysts admit such a scenario, Putin warned of the threat of stopping oil production in the Middle East.

Alexander Schneiderman, head of Alfa-Forex's customer support and sales department, told Izvestia on March 4 that the escalation of the conflict over Iran had thrown the oil market off balance, but the scenario of a sharp price spike to $100-120 per barrel has not yet been realized. According to him, the geopolitical premium is already partially embedded in the quotes. In the short term, the base price range for Brent crude oil is in the range of $80-85 per barrel.

Kremlin spokesman Dmitry Peskov said on February 26 that the Russian economy remained stable amid declining revenues from the sale of oil and gas products. He also stressed that Russian President Vladimir Putin is closely monitoring this situation and discussing it with the Central Bank and the government.

All important news is on the Izvestia channel in the MAX messenger.