Kremlin Calls Western Oil Sanctions Illegal, Vows to Sustain Exports

Overview

• Peskov said only sanctions approved by the UN Security Council are lawful and that Russia does not recognize other measures.
• He stated Russia is finding ways to prevent a decline in oil trade volumes, while allowing for brief, minor dips.
• The Kremlin pledged to guarantee deliveries of oil and petroleum products to its buyers.
• Peskov cited accumulated experience operating under sanctions and said Russia is refining practices to keep trade moving.
• Recent actions include US Treasury restrictions on Rosneft and Lukoil with some licenses extended to December 13 for certain Lukoil dealings, and the EU’s 19th package with tanker-related measures and new listings.