China was among the first partners Russia turned to for key energy equipment banned under Western sanctions, Prime Minister Dmitry Medvedev told a CNBC interview.
Under the existing Western sanctions, Russia’s state-run and private oil and gas companies – including Gazprom, Rosneft, Transneft, and Lukoil – can no longer obtain US or EU technology or equipment for extracting deep water, Arctic, or shale oil.
“Frankly, after certain decisions were taken (some of them were public and others were not), our largest energy companies started talks with equipment producers in other regions, including China, which produces equipment for energy companies, including pipe-layers and other complicated systems. Of course, we can achieve our goals in cooperation with them [Chinese partners],” Medvedev said in an interview to CNBC.
Medvedev said that while Russia doesn’t want to destroy its relationship with the United States or Europe, the country had no other choice but to negotiate with other countries.
Western sanctions were a “serious signal” for Russia’s energy companies and the country “had to take certain decisions,” the prime minister stated.
“…We need to implement our projects, including offshore projects, and to develop gas fields. As such, we’ll have to reorient towards other producers,” Medvedev said.