Russian Deputy Prime Minister Alexander Novak said today that world oil and gas markets could collapse if sanctions were imposed on Russian energy exports, and that rising prices would be unpredictable.
According to Reuters, speaking in the lower house of the Russian parliament, Novak also said that the freezing of the Russian gas pipeline Nord Stream 2 to Germany was “absurd”, and that the misunderstanding of energy balances will fuel further growth. of inflation.
“In the EU, where prices were rising and energy was scarce, the United States, under pressure from the United States, refused to operate the Nord Stream 2 pipeline, which has already been built, to the detriment of European consumers,” Novak said.
“Petroleum prices, for example in Germany, have risen by up to 40 percent. The price of gas has sometimes reached as high as $ 4,000 per 1,000 cubic meters. And it is not over,” he warned.
Finally, the Russian Deputy Prime Minister added that the volume of gas in Europe’s storage facilities amounts to 26% of their capacity compared to more than 30% at the same time last year.
Source: Capital
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