Western countries can face oil prices of more than $ 300 per barrel and the possibility of the closure of the main Russian-German gas pipes if the government follows up on threats to cut the energy supply from Russia, a senior minister said on Monday.
Oil prices jumped to their highest level since 2008 on Monday after Foreign Minister Antony Blinken said Washington and European allies considered to ban Russian oil imports.
“It is very clear that the rejection of Russian oil will lead to disaster consequences for the global market,” said Russian Prime Minister Alexander Novak said in a statement on state television.
“The price surge will be unpredictable. This will be $ 300 per barrel if it’s no more.”
Novak said he would take Europe more than a year to replace the volume of oil he received from Russia and had to pay a much higher price.
“European politicians must honestly warn their residents and consumers what is expected,” said Novak.
“If you want to refuse the energy supply from Russia, please. We are ready for it. We know where we can direct the volume to.”
Novak said Russia, who supplied 40% of European gas, fulfilled its obligations in full but would be entirely in its right to retaliate against the European Union after Germany last month freezing Nord Stream Gas Pipe Certification 2.
“In connection with … the imposition of the ban on Nord Stream 2, we have the right to make suitable decisions and impose the embargo on the gas pump through the Nord 1 gas pipe,” Novak said.
“So far we did not make such a decision,” he said. “But European politicians with their statements and allegations against Russia pushed us in that direction.”
