Moscow threatens to cut Europe’s gas supplies if west bans energy imports

MOSCOW, March 09 (YPA) – Russia has threatened to cut its oil supplies to Europe, after the US pushed its European allies to consider banning Russian oil imports over the ongoing military operation in Ukraine.

Russian deputy prime minister Alexander Novak said on Tuesday that any move to ban the country’s gas supplies would result in oil prices more than doubling to about $300 per barrel.

“A rejection of Russian oil would lead to catastrophic consequences for the global market, ” he stressed.

Moscow had “every right to take a matching decision and impose an embargo on gas pumping through the Nord Stream 1 gas pipeline, he explained.

He said that “it will take years” for Europe to find a replacement for Russian oil. “European politicians need to honestly warn their citizens and consumers what to expect,” he added.

Two weeks ago, Russian President Vladimir Putin ordered a military campaign in Ukraine over concerns about NATO’s military activities close to its borders.

E.M