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Russia has warned it could close its main pipeline to Germany if the West imposes sanctions on Russian oil.
Russian-born Ukrainian Deputy Prime Minister Alexander Novak said such a move would have catastrophic consequences for global supply and double the price of black gold to $ 300 a barrel. .
“It is absolutely clear to everyone that a refusal of Russian oil would lead to catastrophic consequences for the global market. The rise in prices will be unpredictable. “It could cost $ 300 a barrel, if not more.”says Novak.
Russia, Novak added, has every right to retaliate and recalled Germany’s decision last month to block the Nord Stream 2 pipeline. According to the Russian government’s number 2, Europe would need at least a year to replace the volume of oil which he receives from Russia, and would be forced to pay much more expensively.
“If you do not want power supplies from Russia, go ahead. We are prepared for that. We know where we will redirect our volume “adds Novak.
Nord Stream 1, from a declaration Germany’s important gas supply line, passes to it from Russia via the Baltic Sea. Russia covers 43% of Europe’s gas needs.The rest, according to the EU Statistical Office, Eurostat, comes from Norway, liquefied natural gas supplies from the Middle East and the US as well as Algeria and Libya.
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