MOSCOW, January 31. /TASS/. The effect of sanctions against the Russian oil sector will manifest to a full extent in 2023 and it will be possible to assess during the next two - three years how the sector has coped with such pressure, Expert of the Center for Energy Transition and ESG Irina Gaida said in her column posted by InfoTEK information and analytical center.
The year of 2022 was generally positive for the Russian oil sector, the expert said. "This is associated with the rise in oil prices and with ramped-up supplies over the year in anticipation of sanctions that will have the full-scale effect since 2023 only. Essentially, the coming two or three years will show how the domestic oil sector can adapt to the regime of sanctions," she noted.
The effect of the current crisis demonstrated fragility of international logistical chains of hydrocarbon supplies and importance of Russia as the leading energy exporter to global markets, the expert said.
"At the moment, the volume of rejected Russian oil is closer to the best-case scenario and amounts to 2.4 mln barrels daily (with petroleum products). However, if we speak about forecasts, much will depend on evolvement of the embargo on petroleum products. On the one side, companies have already mastered finding customized solutions; on the other part, there are much more logistical and other constraints in trading, as distinct from oil," the expert noted.