March 17, 2019 / 5:01 PM / a month ago

Russia's Novak says sanctions volatility is a pain for energy markets

Russian Energy Minister Alexander Novak attends a session of the Russian Energy Week international forum in Moscow, Russia October 3, 2018. REUTERS/Sergei Karpukhin

BAKU (Reuters) - Russian Energy Minister Alexander Novak said on Sunday that U.S. sanctions on Venezuela and Iran were having a negative effect on global energy markets, hindering long-term planning and confusing investment decisions.

Novak said planning even a few months ahead is tough due to possible sanctions-related volatility, adding that the country imposing sanctions — an apparent reference to the United States — was doing so in order to promote its own goods.

Reporting by Vladimir Soldatkin; Writing by Polina Ivanova, Editing by William Maclean

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