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MOSCOW, Oct. 11 Russian President Vladimir Putin, speaking at the plenary session of the Russian Energy Week, explained that the total volume of oil consumption in the world remains the same regardless of the reduction in purchases of Russian oil — “which means you have to buy elsewhere.”
«As for oil… There is a certain volume of production in the world… If you decide to reduce it, it means purchasing from us in some region, but the total volume of consumption still remains the same. This means you have to buy elsewhere. Without This is impossible. You have to be absolutely stupid not to understand this,» Putin said.
The President added that since the volume of oil consumption remains the same, it is impossible without Russian volumes.
«This means that they abandoned us and must buy elsewhere, which is what they are doing. And we are replacing the volume that went to other markets. It is impossible to live without this. You see, the world economy will develop cannot. And they are forced to buy even more expensively,» Putin explained.