Iran Press/ Europe: With sanctions against Venezuela and Iran lifted, from 2 mln to 2.5 mln barrels per day of oil may appear additionally on the oil market, Russian Deputy Prime Minister Alexander Novak said in an interview with the Rossiya-24 TV news channel at the St. Petersburg International Economic Forum (SPIEF).
"We expect an extra increase in supply on the market from those countries approximately from 2 to 2.5 mln barrels per day if restrictions [against Venezuela and Iran] are removed," he said.
"I can say that we have always been against sanctions on Venezuelan, Iranian oil. We believe they have also been imposed illegally," Novak noted.
The St. Petersburg International Economic Forum organized by the Roscongress Foundation is running from June 15 to 18. This year’s forum is dubbed: ‘New Opportunities in a New World.’ The SME Forum, the Creative Business Forum, the Drug Security Forum, the SPIEF Junior Dialogue, and SPIEF Sports Week will also be part of the SPIEF event.
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