Moscow Thinks It Will Sell More Oil in 2022

The Foreign Minister of Russia says that sanctions by the West will not be a problem for Russia’s oil business. Sergei Lavrov, the Russian Foreign Minister, thinks that Russia will earn a lot more money by selling oil this year.

Sergei Lavrov says that the higher profits are because of the West’s actions. The West’s actions (sanctions) caused higher oil prices.

Recently, leaders of the European Union said that they want to use 90% less oil from Russia. This is because Russia attacked Ukraine. 

The Foreign Minister of Russia says that other countries want to buy Russian oil.

Vocabulary

• Foreign Minister – An important government person who communicates with other countries
• Sanction – an economic penalty or punishment that one country does to another country
• The West – usually means non-communist countries in Europe, North America, and Oceania
• Earn – to get something (usually money) because you worked, sold something, or helped someone
• Profit – extra money, financial gain
• The European Union – 27 countries in Europe that work closely together

Please find the original article from Reuters below:

www.reuters.com

Moscow expects big jump in profits from energy exports in 2022

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.