Moscow, Mar 08: Russia has threatened to chop off fuel provide to Europe if the West went forward and banned Russian oil.
Alexander Novak mentioned that such a transfer would result in catastophic consquences for world provide in consequence which oil costs would double to $300 a barrel.
The assertion comes within the wake of america exploring a possible ban with allies to punish Russia for its army motion in Ukraine. The plan was nevertheless rejected by Germany and Netherlands.
EU will get round 40 per cent of its fuel and 30 per cent of its oil from Russia. If the provides are disrupted, there aren’t any straightforward substitutes. Novak mentioned that Russia has each proper to retaliate and cited Germany’s resolution final month to dam certification for the second Nord Stream Pipeline between the 2 nations.