(Reuters) – Oil prices could rise above $300 a barrel if the United States and European Union ban Russian oil imports, Deputy Prime Minister Alexander Novak said on Monday.
“It is absolutely clear that a rejection of Russian oil would lead to catastrophic consequences for the global market,” Novak said in a video statement broadcast on state television.
+ Biden decrees embargo on Russian oil and gas imports
“The rise in prices would be unpredictable. It would be $300 a barrel, if not more.”
(Text by Conor Humphries)
The post Russia warns of oil at $300 a barrel if US and Europe ban imports appeared first on ISTOÉ DINHEIRO.
#Russia #warns #oil #barrel #due #sanctions