Russia is ready to increase oil supplies to China and India if demand from those countries grows, Deputy Prime Minister Alexander Novak said Wednesday.
"[We are] always ready, [Russian] oil is in demand. We will sell [it] if [it] is purchased," Novak told reporters when asked whether Moscow could expand shipments to the two major Asian buyers.
His remarks came as rising tensions in the Middle East have raised concerns over potential disruptions to global energy supplies, particularly through the Strait of Hormuz.
Iran's Islamic Revolutionary Guard Corps (IRGC) said Monday that the Strait of Hormuz has been closed to transit and warned that vessels attempting to cross would be attacked in the wake of US-Israeli attacks on the country.
The strait, located at the mouth of the Persian Gulf, links oil and liquefied natural gas (LNG) exports from the Middle East to global markets via the Arabian Sea and the Indian Ocean. It also serves as a key route for crude shipments to China and India.
The tensions escalated after the US and Israel carried out large-scale attacks on Iran over the weekend. Tehran later responded with drone and missile strikes targeting Israel and several Gulf countries that host US military assets.
Reporting by Emre Gurkan Abay in Moscow
Writing by Handan Kazanci
Anadolu Agency
energy@aa.com.tr
