Oil prices rose to their highest level since 2008 as Iranian crude failed to reach global markets, and the United States and European allies are considering imposing sanctions on imports of Russian oil. In the first few minutes of trade on Sunday, both benchmarks rose to their highest levels since July 2008, with Brent at $139.13 a barrel and WTI at $130.50.
Talks with world powers to revive Iran’s 2015 nuclear deal were mired in uncertainty on Sunday. Ukraine is facing sanctions over the conflict after Russia demanded US guarantees. He will not harm his business with Tehran. According to sources, China has also raised new demands.
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Responding to Russia’s demands, US Secretary of State Antony Blinken said on Sunday that sanctions imposed on Russia over Ukraine’s invasion had nothing to do with a possible nuclear deal with Iran. Let us tell you that as of 6:50 pm yesterday, Brent rose by $ 11.67 or 9.9% to $ 129.78 per barrel. While US West Texas Intermediate (WTI) crude rose $10.83, or 9.4%, to $126.51.
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US Secretary of State Antony Blinken said talks are underway between the US and its allies about imposing sanctions on imports of oil and natural gas from Russia. Asked about oil and gas imports, Blinken told CNN on Sunday that President Joe Biden held his National Security Council meeting on the subject the day before.
Biden and the West have so far not imposed sanctions on Russia’s energy industry so that it does not affect their economies. “We are discussing with our European partners and allies the possibility of imposing sanctions on imports of oil from Russia, while also ensuring that there is an adequate supply of oil to markets around the world,” Blinken said.