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Russia Ready to Participate in Balancing Energy Markets - Deputy PM
Russia Ready to Participate in Balancing Energy Markets - Deputy PM
Sputnik International
Russia is ready to participate in balancing energy markets and maintain its role in ensuring energy security, Russian Deputy Prime Minister Alexander Novak said on Friday.
2026-10-16T13:54+0000
2026-10-16T13:54+0000
2026-10-16T13:59+0000
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"We are ready to ensure the balancing of energy markets and maintain our role in ensuring energy security through long-term partnerships," Novak said at the Russian Energy Week international forum. The cost of oil and petroleum products in the world is now almost twice as high as at the beginning of the year, Novak said, adding that Russia has always been a reliable supplier of energy resources to Western Europe, and today to global markets, including Asia.The agreement to supply Russian diesel fuel to the United States is a pragmatic solution that benefits all market players, Novak suggested."Well, first of all, I see this deal as a pragmatic solution that is beneficial to all market participants. It is known that Russia is one of the key players in the global diesel fuel market. We have traditionally supplied about 10% of world trade on the world market," he said, noting that global diesel fuel shortage is estimated at 25% of world trade."By the end of the year, we plan to reach the levels that we previously supplied to world markets, which is approximately 3.5 million tonnes per month," Novak addedRussia ready to supply Europe with more energy resources, continues to fulfill its contracts, Novak pointed out.Over the past five years, Russia has supplied $320 billion worth of energy resources to Europe, and $21.3 billion in the first 9 months of 2026, Novak underscored.
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13:54 GMT 16.10.2026 (Updated: 13:59 GMT 16.10.2026)
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MOSCOW (Sputnik) - Russia is ready to participate in balancing energy markets and maintain its role in ensuring energy security, Russian Deputy Prime Minister Alexander Novak said on Friday.
"We are ready to ensure the balancing of energy markets and maintain our role in ensuring energy security through long-term partnerships," Novak said at the Russian Energy Week international forum.
The cost of oil and petroleum products in the world is now almost twice as high as at the beginning of the year, Novak said, adding that Russia has always been a reliable supplier of energy resources to Western Europe, and today to global markets, including Asia.
The agreement to supply Russian diesel fuel to the United States is a pragmatic solution that benefits all market players, Novak suggested.
"Well, first of all, I see this deal as a pragmatic solution that is beneficial to all market participants. It is known that Russia is one of the key players in the global diesel fuel market. We have traditionally supplied about 10% of world trade on the world market," he said, noting that global diesel fuel shortage is estimated at 25% of world trade.
Yesterday, 08:52 GMT
"By the end of the year, we plan to reach the levels that we previously supplied to world markets, which is approximately 3.5 million tonnes per month," Novak added
Russia ready to supply Europe with more energy resources, continues to fulfill its contracts, Novak pointed out.
"We are ready to provide more supplies [to Europe]. It is not us, nor Russia, that has abandoned cheap and stable energy supplies. Europe made this decision for political reasons. We are ready and continue to fulfill our contracts," he remarked.
Over the past five years, Russia has supplied $320 billion worth of energy resources to Europe, and $21.3 billion in the first 9 months of 2026, Novak underscored.