Russia is considering exporting oil via the northern port of Murmansk in the event of limitations on other routes, Interfax news agency reported on Thursday citing the governor of the region.

Andrey Chibis made the comment at the St Petersburg International Economic Forum, Interfax said.

“If additional restrictions are introduced, Murmansk can really become an oil export outlet. Applicable calculations have been made as per the president’s request. If there is such a need, it is highly likely that such a decision will be made,” Chibis said.

The port is able to load up to 30 million tonnes of crude oil per year, he added.

Chibis said exports from Murmansk may be needed in case of export limitations via the Druzhba pipeline or due to additional loading capacity needed to accommodate extra production.

European Union leaders in May agreed on an embargo on Russian oil and oil products imports which will take full effect by the end of the year.

Landlocked Hungary, Slovakia and the Czech Republic all get their Russian oil from Druzhba and account for the 10% of imports temporarily exempted from the embargo.

Germany and Poland have said they will also halt imports of Russian oil including piped supply by the end of the year.
Source: Reuters (Reporting by Reuters; editing by Jason Neely)