Measures taken against Russia could cause energy prices to skyrocket as supply is limited
The threat of energy sanctions against Russia, which could be imposed in the event of an invasion of Ukraine, could lead to Britain facing record gas and petrol prices, British ministers have been warned, The Times reported.
According to the British newspaper, senior Whitehall officials expect the Kremlin to “weaponize” its enormous natural energy resources by restricting gas supplies to Europe.
Referring to an anonymous senior official, the Times noted that the UK barely imports any Russian gas, but is at risk of rising wholesale prices, which could potentially cause a serious problem for the country. Other European nations, such as Sweden and Finland, are almost entirely dependent on gas imports from Moscow.
Western countries, including Britain, have warned Moscow of dire consequences in the event of an invasion of Ukraine, including severe economic sanctions. The threat comes when Russia is accused of placing 100,000 soldiers at the border, allegedly with the intention of entering Ukraine. The Kremlin has repeatedly denied proposals it plans to invade, and remains entitled to move the military to its own land as it sees fit.
On Monday, US CNN reported that US President Joe Biden had begun talks with a number of countries and companies in Europe, the Middle East, North Africa and Asia to devise a plan that would allow Washington to export more liquefied natural gas, in the event of an invasion. to gas shortage.
According to Eurostat, the European Commission’s official statistics office, the EU imports 41.1% of its gas from Russia.
(RT.com)
Source: sn.dk
