Putin: The possibility of halting oil production linked to the Strait of Hormuz and our companies should benefit from the situation

Russian President Vladimir Putin stated that oil production linked to the Strait of Hormuz could completely stop as early as next month, amid rising tensions in the Middle East.

Interfax reported on Monday that Putin urged Russian oil companies to take advantage of the current situation in the region.

He added that potential changes in the logistics of oil shipments would take a long time and would require significant expenses to reorganize transport and supply routes.