Russian Deputy Prime Minister Alexander Novak said that Russia has the right to mirror the ban on gas pumping through Nord Stream 1. This is reported RIA News.
According to him, Moscow could, in connection with unfounded accusations against itself and the ban on Nord Stream 2, take mirror measures and impose an embargo on gas transportation through Nord Stream 1, which is now 100 percent loaded. However, Russia has not yet resorted to such steps, although European politicians are pushing it to do so with their statements and accusations.
But so far we have not made this decision. Nobody will benefit from this.
Debate on banning Russian oil imports
Novak also noted that statements and discussions about the possibility of imposing an embargo and abandoning Russian oil and oil products are causing concern in Russia. He emphasized that attempts to initiate such discussions undermine the fundamentals of the market, create uncertainties and lead to significant damage to consumers.
In addition, he said that now there is a huge pressure on Russian partners, traders, transport companies, banks and financial institutions regarding the supply of oil from Russia. Nevertheless, importing oil from Russia is the most competitive option for the European market, given the developed oil pipeline infrastructure and the logistics of offshore supplies, the Deputy Prime Minister explained.
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Earlier, US Secretary of State Anthony Blinken said that the United States is now actively discussing with partners from Europe about the possibility of banning Russian oil supplies. He noted that the United States is negotiating with European allies in order to coordinate steps to impose an appropriate ban.
Shortly thereafter, White House spokeswoman Jen Psaki said that the US authorities had not yet made any decision about the ban on Russian oil imports. According to her, US President Joe Biden discussed the issue with European leaders on Monday, March 7.
Consequences of abandoning Russian oil
Novak warned of the catastrophic consequences of ditching Russian oil for the global market. According to the Deputy Prime Minister, such a move will cause a surge in fuel prices on the world market.
Up to 300dollars per barrel
prices may rise if Russian oil is abandoned
At the same time, it is impossible to quickly replace Russian oil in the European market. This will take more than one year, and consumers in Europe will have to pay for it, Novak emphasized.
On March 7, it was reported that the price of Brent oil reached a new record high and exceeded $130 per barrel, beating the 2012 peaks of over $128.
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