The Russian Deputy Prime Minister Alexandar Novak revealed that though Russian companies have been facing difficulties securing financing for their April contracts to sell crude and oil products, the situation can be resolved, Reuters reported quoting Novak who made this statement to Interfax news agency.

Lately, the US has announced that it banned the imports of oil and gas from Russia due to its invasion of Ukraine. Meanwhile, several oil companies announced their withdrawal from their businesses in Russia.

According to data released by the Russian energy ministry, the sanctions did not affect the Russian oil production, but it increased by 55,000 barrels per day (bbl/d) reaching 11.1 million barrels per day (mmbbl/d) in March from February, Reuters stated citing Daily Kommersant.