TEHRAN – Russian Energy Minister Alexander Novak voiced concern over the impact of U.S. sanctions against Iran, Reuters reported.

“This is a huge uncertainty on the market – how countries, which buy almost two million barrels per day of Iranian oil, will act. The situation should be closely watched, the right decisions should be taken,” he said on Wednesday.

Novak said global oil markets were “fragile” due to geopolitical risks and supply disruptions.

Russian Deputy Foreign Minister Sergei Ryabkov also expressed his country’s support for Iranian oil exports saying “Russia believes it is important to create the conditions to continue Iranian oil exports to external markets”.

As reported by Reuters, Ryabkov‘s remarks were published by RIA news agency on Tuesday.

EF/MA