What Russia said about oil sales to ‘friendly’ India is surprising…

Russian Deputy PM Novak emphasizes the need to increase energy exports to "friendly" nations; 42% of Russia's federal budget in 2022 came from energy revenues.

Russian Deputy Prime Minister Alexander Novak said on Tuesday that Russia needed to focus on boosting energy exports to so-called "friendly" countries, as he said Russian oil supplies to India jumped 22-fold last year.

Need to focus on boosting energy exports: Alexander Novak, Russia's deputy prime minister, speaks.(Bloomberg)

Novak said energy revenues accounted for 42% of Russia's federal budget in 2022 and said the country's energy industry was sustainable, despite the challenges faced by Western sanctions.