The embargo on Russian oil will have negative effects on Europe and Russia, Kremlin Spokesperson Dmitriy Peskov said on Wednesday.
EU leaders agreed on Monday to cut 90% of oil imports from Russia by the end of 2022, excluding pipeline oil, which Hungary will use to transport oil by the Southern Druzhba pipeline.
Sanctions against Russia which include a ban on crude oil 'will negatively affect the entire continent, Europeans, us and the entire global market,' Peskov said.
Russia is working to mitigate the impact of the embargo, Peskov said and added that idle volumes are directed to alternate routes.
Amount of Russian oil exports to Europe is around 4.5 million barrels per day. Of this, about 66% - 3.2 million barrels - are transported by sea, and the rest by the Druzhba pipeline.
Meanwhile, Peskov said the US is aggravating the situation by supplying longer-range rocket systems to Ukraine.
US President Joe Biden said the US was ready to send Ukraine more advanced rocket systems on Tuesday.
'We believe that the US is deliberately pouring oil on fire. The U.S. is obviously holding the line that it will fight Russia to the last Ukrainian,' he added.
Reporting by Emre Gurkan Abay in Moscow
Anadolu Agency
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