MOSCOW, March 7. /TASS/. Moscow is concerned about the West's plans to refuse Russian oil, but it is capable of redirecting exports from the European market, Deputy Prime Minister Alexander Novak told reporters on Monday.

"If you want to refuse energy supplies from Russia, you can do as you please, we are ready for this. We know where we can redirect these volumes. The only question which arises is who benefits from this? And why is it needed? The attempts to initiate discussion on import ban undermine the market foundation, create uncertainties and result in significant harm to consumers," he said.

"Russia has fully fulfilled all its obligations before and today, all requests are being fulfilled, the shipment of oil and oil products is carried out as planned. However, our concern is caused by discussions and statements regarding the possibility of imposing an embargo and abandoning Russian oil and oil products. We are also seeing huge pressure on our partners, traders, transport companies, banks and financial institutions," the Deputy Prime Minister added.