Moscow, Europe Brief News – The Kremlin blamed the United States for declaring an economic war on Russia which is causing chaos through energy markets. The Kremlin also warned the US to be prepared for the justified response for its actions.
The Russian currency has experienced a record low and the economy is going through a serious crisis after US and Western allies imposed tougher sanctions on almost the whole Russian financial system and corporate system. This is just another way to cripple and isolate Russia and its economy.
Kremlin Spokesman Dmitry Peskov described West sanctions as an aggressive act that has affected the global markets and he believes that it is quite early to predict how much damage it will cause on global energy markets.
Peskov said, “ You see bacchanalia, the hostile bacchanalia which the west has sown and that, of course, makes the situation very difficult for us to think seriously”.
He further added, “ We see the situation on energy markets is developing rather turbulently and we do not know how far that turbulence will go”.
The Kremlin said that Russian President Vladimir Putin is all set to hold a meeting with the government on Thursday to look for measures to limit the impact of sanctions.
The West’s attempt to Cut one of the biggest exporters of Oil, gas and metal has hit commodity markets and shot the inflation rate to sky-high.
Vladimir Putin said, “ The special military operation is essential to ensure Russian security after the United States enlarged the NATO military alliance to Russia’s borders and supported pro-western leaders in Kyiv”.
Ukraine claims that it is fighting to defend its country and its existence and the US and its European allies have criticised Russia’s unprovoked and unjustified attack on its state.
Energy Crisis:
Russia suggests that the oil prices could hit $300 per barrel if the United States and European Union go ahead with their plan to ban imports of crude oil from Russia. Brent oil has hit its all-time high with $139.
Russia mentioned that Europe consumes about 500 million tonnes of oil a year. Russia supplies around 30% of that. Banning Russian oil is going to affect the global oil market hugely.
Peskov said “ The situation demands a deep analysis of those decisions announced by President Biden. If you are asking me what Russia is going to do and Russia is going to do what is necessary to defend its interests”.
