Russian gas producer Gazprom said its supply of gas to Europe through Ukraine via the Sudzha entry point was seen at 40.1 million cubic metres (mcm) on Sunday versus 41.9 mcm on Saturday.
The recent statement comes after Russian Foreign Minister Sergei Lavrov on Saturday said Western sanctions would have no effect on the country’s oil exports and predicted a big jump in profits from energy shipments this year.
On Monday, European Union leaders agreed in principle to cut 90 percent of oil imports from Russia by the end of this year to punish Moscow for invading Ukraine.
The EU ban resolves a deadlock with Hungary over the bloc’s toughest sanction yet on Moscow and would clear the way for other elements of a sixth package, including cutting Russia’s biggest bank from the SWIFT messaging system.
A recent report by Moody’s revealed that the latest sanctions imposed by the European Union in retaliation for Russia’s invasion of Ukraine will cause massive disruptions to the global oil.