No grounds thus far for sharp cut in output of petroleum products in Russia owing to EU embargo - Energy Minister

ALMATY. Feb 3 (Interfax) - Russia sees no grounds for a sharp cut in oil refining and output of petroleum products owing to the European Union's embargo on Russian fuel that enters into force on February 5, Energy Minister Nikolai Shulginov told reporters.

"As soon as the embargo is imposed, we will consider what could come of it. We have no reason thus far to believe that we will see a sharp reduction in processing or output of petroleum products," Shulginov said.

The minister added that the possibility of postponing repairs on oil refineries because of the embargo is not under consideration.