'World Cannot Afford To Lose...': Kremlin Says Global Markets In Dire Need Of Russian Oil

Last Updated:March 14, 2026, 15:38 IST

The Kremlin stressed the need for Russian oil for global stability amid the West Asia crisis.

Amid the crisis in West Asia, the Kremlin said Saturday that the world cannot afford to lose “large volumes of Russian oil", adding it will bring “greater stability" to the energy market.

“The situation is clear. The international energy infrastructure cannot afford to lose large volumes of Russian oil," Kremlin spokesperson Dmitry Peskov told Russian state media agency TASS.

“This Russian oil is needed, and now, when part of it begins to enter the energy markets, greater stability is emerging," he added.

Earlier, the United States lifted sanctions on the sale of oil and petroleum products from Russia loaded onto ships before March 12. With the disruption in the global energy supply amid the West Asia conflict, Washington has signaled the exemption period may be extended.

This is a developing story. More details will be added. 

News world 'World Cannot Afford To Lose...': Kremlin Says Global Markets In Dire Need Of Russian Oil

Read More