Skip to content

Russia warns of “catastrophic consequences” if it stops buying its oil: “The barrel will reach 300 dollars”

Russia warned Monday of “catastrophic consequences” in the event of a Western embargo on Russian oil, which United States and the European Union are studying it as a possible retaliatory measure for the military intervention in Ukraine.

“It is quite obvious that the refusal to buy Russian oil will have catastrophic consequences for the world market”said Russian Deputy Prime Minister for Energy Alexander Novak.

SIGHT: The US reveals that it is in talks with Europe to ban the purchase of Russian oil

“The price increase could be unpredictable and reach more than 300 dollars per barrel or more”he said, quoted by Russian news agencies.

According Novakit is impossible to quickly replace Russian oil for the European market with an alternative source.

  • The 3 conditions that Russia demands for an “immediate ceasefire” in Ukraine
  • The European Union agrees to start the accession process of Ukraine, Moldova and Georgia in the midst of war
  • Russia draws up a list of “hostile” countries and announces the retaliation it will apply to them

“It will take several years and will be much more expensive for European consumers, who will be the main victims of this scenario.”, he warned.

The price of a barrel of Brent crude from the North Sea touched $140 on Sunday, close to its all-time high of $147.50 reached in July 2008.

Novak’s remarks come as the United States and the EU discuss imposing sanctions on Russian oil and gas in retaliation for Russia’s military intervention in Ukraine, part of a series of harsh economic sanctions against Moscow in recent years. days.


  • Putin says Western sanctions are like a ‘declaration of war’
  • Ukraine shows on social networks the missile attack on a helicopter: “This is how the Russian occupiers die!” | VIDEO
  • Visa and Mastercard suspend operations in Russia due to the invasion of Ukraine
  • The strange act of Vladimir Putin between jokes, flowers and stewardesses in full offensive in Ukraine
  • British journalists recorded the moment they were fired upon by Russian troops in Ukraine
  • War correspondent in Ukraine: “No one imagined that this would happen with such brutality”

Source: Elcomercio

Share this article:
globalhappenings news.jpg
most popular