new Delhi. Russia has bluntly warned America and Europe, which are preparing to impose sanctions on oil supply. A Russian minister said that if the European Union is thinking of imposing such sanctions on us, then be ready to buy crude oil for $ 300.
Russia’s Deputy Prime Minister Alexander Novak has said that Western countries will have to be ready to buy $ 300 a barrel if sanctions are imposed on the supply of crude oil from Russia. Any such ban will have a big impact on the global market. Russia accounts for 8 percent of the global crude supply, while Europe accounts for 30 percent of the supply.
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America had said recently that together with the European Union, we will stop the crude supply of Russia. After this, crude had crossed $ 139 per barrel in the global market.
Germany’s gas supply will be closed
Novak warned European countries, saying, “Do not even think of banning Russia’s energy supply, otherwise we will shut down the gas pipeline supply to Germany.” If Europe wants to stop buying oil from us, it will take more than a year to make up for it. During this time, one has to be ready to buy expensive oil.
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Europe has to make a wise decision
Nowak said that European countries should think about their own interests. We are already prepared for such a situation. If our supply is affected there then we will start supplying in other markets. Europe buys 40 percent of its gas from us. How will we compensate for our supply being stopped? At the moment we are not thinking of imposing any such restrictions, but if Europe moves forward, we will be compelled too.
Tags: Crude oil prices, Upward trend in global crude prices
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