In the midst of the Russia-Ukraine war, all western countries, including the US, are imposing economic sanctions on Russia, which puts pressure on it to stop the war. On the other hand, Russia is continuously challenging America and Western countries by continuing the war. Meanwhile, Russia has threatened Western countries, saying that if it imposes sanctions on imports of Russian crude oil and gas, the price of crude oil will reach $ 300 a barrel or more.
Russian Deputy Prime Minister Alexander Novak said in a statement on a state TV channel that “if sanctions are imposed on the supply of crude oil from Russia, then the world’s oil prices will be shaken.” Crude oil prices can unexpectedly go up to 300 barrels per dollar.
Europe does not have the option of Russia: A large amount of European crude oil is imported from Russia. In such a situation, if the supply of crude oil from Russia gets disrupted. So Europe will be facing energy crisis. Nowak further said that it will take at least a year to replace the amount of oil that Russia exports to Europe and they will have to pay much more money than Russia for it.
Threatened to stop export of gas: Nowak said Russia exports more than 40 per cent of Europe’s gas and is still fulfilling its responsibility. In exchange for the ban on the Nord Stream 2 gas pipeline, Russia can also block the Nord Stream 1 gas pipeline. However, no decision has been taken in this regard yet.
US Secretary of State Antony Blinken had earlier warned Russia that the US and its allies were preparing to impose sanctions on Russia’s oil and gas exports. After which this strong reaction came from Russia. Earlier on Monday, crude oil had hit a 14-year high at $130 per barrel.