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Limit of oil export from Russia not to influence Ukraine’s market critically

There are enough resources on the market but three crises in a row may be a threat for Ukraine
17:52, 5 June 2019

112 Agency

Representative of Ukraine’s President in the Cabinet of Ministers Andriy Gerus assured that the limited export of the Russian oil product would not influence critically the state of Ukraine’s market. It has enough resources and there is enough time to find new sources of the supply as 112 Ukraine reported.

“The beginning of June is surplus, in other words, there are enough resources on the market and June, from the point of view of the demand, it is not a peak month; we need to have our stock prepared, when the harvesting will begin, in July-August. So, we have a few weeks, we need to prepare, diversify sources of the supplies of other sources. I think we will handle this situation,” Gerus commented.

Related: How the oil industry and Russia trivialize the Druzhba pipeline disaster

He also added that three crises in a row may be a threat for Ukraine. Gerus does not exclude the possibility of the fuel crisis due to the ban of the oil supply from Russia, crisis in the electricity industry (a new model of a market should be launched on July 1; however, it is not prepared) an gas crisis (the end of transit contract Gazprom-Naftogaz in January 2020, Ukraine will be able to buy gas from the European countries). Gerus is sure that all these crises may happen on purpose.

As we reported before, the Russian Federation placed a ban for export of petroleum and petroleum products, including coal, petroleum, and petroleum products to Ukraine.

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