Russian Finance Minister Anton Siluanov said that the sanctions imposed by the West on Russia after the war in Ukraine have caused heavy damage to the European economy, while the US is the only party to benefit from the sanctions.
Speaking to Asharq News daily, Minister Anton Siluanov said that Western sanctions have helped Americans get what they want, while noting that the countrys oil and gas supply to the European market has increased.
However, energy shipments from the US appear expensive for Europeans, leading to soaring inflation and reduced competitiveness for European businesses, Mr. Siluanov said.
Both Western sanctions and the explosions that ruptured the Nord Stream 1 and 2 gas pipelines in late September have led to Europe increasingly focusing on buying liquefied natural gas from the United States, the Russian Finance Minister said.
US benefits, Europe loses, he explained.
Finance Minister Siluanov also admitted that the sanctions have affected the Russian economy. But the sanctions have also caused the West more and perhaps more pain, he said.
Minister Anton Siluanov noted that the EU's price ceiling for Russian oil "will certainly lead to market and price disturbances". He reiterated that Moscow will not supply crude oil at the ceiling set by the West.
The minister pointed out that Russian oil companies are redirecting oil shipments from the West in other directions. We will look for new markets, looking for new logistics, even though it may be more expensive, he said.
