MOSCOW (Sputnik) – Iran’s return to the oil market will not have an impact on Russian sales of oil, Russian Energy Minister Alexander Novak said Tuesday.
“Russian producers are competitive on the world market and from the point of view of sales of our production, we don’t see any risk,” Novak said during an interview with Rossiya-24 television.
Novak added that much would depend on whether OPEC increases its oil volumes if Iran increases its own. He also said that Iran’s oil industry also depends on whether the country could renew its oil extraction capabilities.
