Speaking to the press, Novak noted that Russian energy companies plan to increase supplies to new markets and are currently negotiating with multiple partners. The statement comes as Russia considers adjusting its energy export strategy after the European Union decided to gradually reduce and eventually end gas imports from Russia.

Earlier on Thursday, President Vladimir Putin said that ending gas supplies to Europe sooner could benefit Russia, as the EU is implementing gradual restrictions on Russian fuel.

Meanwhile, US Treasury Secretary Scott Bessent said on Friday that the United States is considering lifting additional sanctions on Russian oil. Estimates suggest that hundreds of millions of barrels of sanctioned Russian crude are currently circulating at sea. According to the US side, removing these sanctions could add more supply to the global market.