02:59We're not the biggest purchases of Russian oil, that is China.
03:05We are not the biggest purchases of Russian LNG.
03:09I'm not sure, but I think that is the European Union.
03:13We are not the country which has the biggest trade surge with Russia after 2022.
03:18I think there are some countries to the south.
03:21We are a country where actually the Americans said for the last few years that we should do everything to stabilize the world energy markets, including buying oil from Russia.
03:37Incidentally, we also buy oil from America, and that amount has been increasing.
03:45So, quite honestly, we are very perplexed at the logic of the argument.
03:51If the Indian goods are facing difficulties entering the US markets, the Russian market is, you know, welcome Indian imports to the most extent possible.
04:13So, don't worry about that.
04:16So, as far as energy is concerned, indeed, so we see that actually that would be quite detrimental to the global economic stability and energy security.
04:32As we discussed before, Russia is the largest producer of oil, India is the largest consumer, any kind of, you know, unilateral actions lead to disruptions in supply chains.
04:48It needs to disbalance and imbalance in pricing policies, so it would potentially lead to price hikes and destabilization of global markets and endangering energy security of developing countries, first of all.
05:09Moreover, let's keep in mind, as part of the Russian experience,
05:16So, if, hypothetically, India refuses from the Russian oil, it will not lead to the equal cooperation and usually beneficial cooperation with the Western general, because, you know, it is not in the Western nature, which was clearly demonstrated in recent years.
05:46So, they behave like neo-colonial powers, just exploiting and just thinking about benefit for themselves.
05:55So, we can just agree that this pressure is unjustified and just, indeed, quite unilateral.
06:12Another observation is that a lot of pressure comes from the European Union, and as far as our estimate is concerned, the recent package of sanctions against Russia from the European Union, the eighteenth one, would not have much impact on the Russian oil trade.
06:39Because, during the recent years, we have been able to significantly reduce our dependence on the services in this regard which the European Union is providing.
06:51All right.
06:52Thanks.
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06:54Thanks, Eric!
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