Iran Press/ Europe: Replacement of Russian oil export to the European Union is almost impossible and the world could see a loss of as much as 7 million barrels daily of Russian oil exports due to current and future sanctions or other voluntary actions, OPEC Secretary-General Mohammad Barkindo said.
Barkindo made the remarks in a meeting on Monday with EU officials.
It would be nearly impossible to replace a loss in volumes of this magnitude," Barkindo said, cited by Bloomberg.
Russia accounts for about a quarter of oil imported by the EU but individual member-states have a higher dependence on Russian oil supplies.
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