Oil price volatility subsiding despite Middle East tensions: Novak

10:39 AM (Mecca time) Argaam
Alexander Novak, Russia's Deputy Prime Minister

Alexander Novak, Russia's Deputy Prime Minister

Alexander Novak, Russia's Deputy Prime Minister, expects oil price fluctuations will ease following volatility spurred by the Middle East turmoil as geopolitical risks are already factored in, Reuters reported.

 

Novak added that the sanctions-hit economy will overcome any pressure and Western-imposed price caps on the country's oil.

 

"We can live through any price," he noted.

 

These statements came after Israel carried out airstrikes across Lebanon, killing dozens of people, including Hezbollah's leader, Hassan Nasrallah.

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