Russia will not sell oil to price cap backers. Moscow states that the Western ‘anti-market’ price limit creates obstacles. The European Union’s decision creates obstacles. This occurs amid rising energy demand.’

Russian Deputy Foreign Minister Andrey Rudenko has said that demand for crude rises amid the Middle East conflict.

Western regimes backing Ukraine, such as the G7 members and Australia, announced their plan to phase out Russian oil imports. They also intend to cease gas imports. This decision followed the escalation of the Ukraine conflict in 2022.

Don’t bait the Russian bear

These countries cut their purchases. They forced Russia to sell crude at a discount to global benchmarks. This was done under a price cap system, currently set at about $44 per barrel.

In recent weeks, this trend has partially reversed. Russia’s Urals crude has been sold to India and other buyers at a premium.

Russia profits from Trump’s luckless wars

Urals DAP West Coast India prices exceeding $121.5 per barrel on March 19, 2026, and trading about $3.9 per barrel above Dated Brent, compared to a discount of around $12 per barrel in early March.

Rudenko on Tuesday says energy markets are volatile due to tightening supplies and rising prices.

Unfriendly states left without oil and gas

He was asked about talks with ‘unfriendly’ states like the European Union and Japan to resume buying Russian oil.

He said Tokyo (and the EU) is bound by the price cap. Russia will not sell oil to provocative countries.

The Gulf crisis has led to the de facto closure of the Strait of Hormuz. This strait carries roughly one-fifth of the world’s daily oil supply.

Iran has effectively blocked transit for ships from unfriendly nations. This action sent oil prices up nearly 50% earlier this month. Prices have risen to almost $120 per barrel.

The filling level of underground gas reservoirs in the Netherlands has dropped below 5%. This is an all-time low. This information is according to data from the Gas Infrastructure Europe association.

This was reported by the TASS news agency. As of March 30, 2026, the volume of available energy resources in the country’s gas storage facilities had fallen.

According to the publication, it decreased to 4.95%. Such critically low levels have not been recorded since 2011.

Other European countries also continue to burn fuel at a rapid pace. Currently, capacity in Germany is only 22.2% full, while in France it’s 21.9%.

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