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Russia’s oil products market will be calm in 2023 — SPIMEX

According to CEO Alexey Rybnikov, the EU embargo on Russian oil product shipments has an indirect impact on the exchange's operations and the domestic Russian market in general

MOSCOW, January 13. /TASS/. Despite the looming EU embargo on Russian oil products, its domestic market for petroleum products remains a priority for producers, and the situation will be calm in 2023, CEO of the Saint Petersburg International Mercantile Exchange (SPIMEX) Alexey Rybnikov told reporters.

According to him, the EU embargo on Russian oil product shipments, which takes effect on February 5, has an indirect impact on the exchange's operations and the domestic Russian market in general. "From the standpoint of authorities, from the standpoint of manufacturing, the domestic market is always a priority. As a result, we anticipate a rather calm year for the local market. We are convinced that we are moving in the right direction in terms of infrastructure, sales, distribution, and getting products to end users," He stated.

Vice President of SPIMEX Anton Karpov also noted that in 2022 the situation on the domestic exchange market for oil products was stable.

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