As Severe sanctions and restrictions from the West to Russia continue, Russia is now fighting back. Russian Deputy Prime Minister Alexander Novak vowed to close major gas pipelines to Germany and warned of $300 or more oil prices for the U.S.
• Russian Deputy Prime Minister Alexander Novak said Monday in an address on Russian TV. “It is absolutely clear that a rejection of Russian oil would lead to catastrophic consequences for the global market,”
• The Russian PM warned that oil prices could reach $300 or more.
• The Russian PM also warned Germany that if they continue to block the Nord Stream 2 Pipeline, Russia could turn off the Nord Stream 1 pipeline
• The Russian government said that no decision on the pipeline had been made, but Germany and the West’s continued provocation could lead Russia to such measures.
• Russia is the world’s third-largest oil producer, just behind the U.S. and Saudi Arabia.
• Russia is also a significant producer of natural gas, which Germany is almost solely dependent on.
• The E.U. gets roughly over 40% of their gas from Russia through pipelines that run through Ukraine.
• Tuesday Morning Joe Biden banned all oil imports from Russia in a move that would escalate tensions between Russia and the West
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